Day: May 2, 2024

Closing Thought–02May24

Here is something, well a couple of somethings, to think about as you go about your busy day.

Back in the day the bright future that parents dreamed of was to make enough money to enter into the Middle Class…well that dream has been dashed by greed and corrupt government.

Here are the things that the Middle Class will not be able to afford….

In recent years, economic shifts have reshaped the financial landscape for the middle class. From housing to education, many things that were once considered attainable are now out of reach for many middle-class families. Here are five key areas where the middle class is feeling the pinch.

Homeownership

For generations, owning a home was a cornerstone of the middle-class dream. However, with housing prices skyrocketing in many areas, this dream is becoming increasingly elusive. The cost of buying a house has significantly outpaced income growth. In many cities, even a modest home is now beyond the reach of a typical middle-class family. This shift has forced many to either stay in rental properties or move to less expensive areas, often far from their workplaces or families.

https://www.gobankingrates.com/money/wealth/things-the-middle-class-cant-afford-anymore/

On that list is savings for retirement….people are being priced out of retirement….

More than one-quarter of US adults over age 50 say they expect to never retire, and 70% are concerned about prices rising faster than their income, an AARP survey finds. About 1 in 4 have no retirement savings, according to research released Wednesday by the organization that shows how an aging America is worrying more about how to make ends meet—even as economists say the US economy has all but achieved a soft landing after two years of record inflation. Everyday expenses and housing costs, including rent and mortgage payments, are the biggest reasons people are unable to save for retirement, the AP reports.

The data will matter this election year as Democratic President Biden and Republican rival Donald Trump try to win support from older Americans, who historically turn out in high numbers. AARP’s study, based on interviews with more than 8,000 people in coordination with the NORC Center for Public Affairs Research, finds that one-third of older adults carry a credit card balance of more than $10,000 and that 12% have a balance of $20,000 or more. Additionally, 37% are worried about meeting basic living costs such as food and housing. “Far too many people lack access to retirement savings options and this, coupled with higher prices, is making it increasingly hard for people to choose when to retire,” said AARP’s Indira Venkateswaran.

The share of people older than 50 who say they do not expect to retire has steadily increased. It was 23% in January 2022 and 24% that July, according to the study, which is conducted twice a year. “We are seeing an expansion of older workers staying in the workforce,” said David John of the AARP Public Policy Institute. The survey showed 33% of respondents older than 50 believe their finances will be better in a year. A looming issue that will affect the ability to retire is the financial health of Social Security and Medicare. The latest annual report from trustees says the financial safety nets will run short of money to pay full benefits within a decade.

But not to worry the president has told us the economy is strong….that may be the case but not for everyone.

I Read, I Write, You Know

“lego ergo scribo”

WTF?

My regular readers know that I have been a staunch critic of using US taxpayer dollars to fund Ukraine’s war with Russia.

I think those billions of dollars could be better spent on the problems this country is having than spending it on a cause that few think is necessary.

So when I read a story about the US spending a billion dollars to buy Ukraine made weapons to give to the Ukrainian army I went ballistic.

But let you see for yourselves….

The US will purchase $1.6 billion in Ukrainian-made weapons for Ukraine, The Defense Post reported on Monday.

The $1.6 billion is included in a $6 billion tranche of weapons the US announced on April 26. The arms will be provided through the Ukraine Security Assistance Initiative (USAI), which allows the US to purchase weapons for Ukraine.

The US and its NATO allies have made clear that part of their long-term plans for Ukraine is to help the country develop a military-industrial complex. Western arms makers are also looking to manufacture weapons in Ukraine.

Arseniy Pushkarenko, deputy chair of the Ukrainian Parliament’s Committee on Foreign Policy and Interparliamentary Cooperation, said Ukraine’s military-industrial complex should entice other countries since the weapons it produces are battle-tested.

“This is one of the factors in the development of the Ukrainian economy. Today, the military technologies that we have are tested in combat conditions, which makes our military-industrial complex attractive enough for many countries of the world,” he said.

It’s unclear what types of weapons will be purchased with the $1.6 billion. According to the Pentagon, the $6 billion USAI package includes “components to support Ukrainian production of [Unmanned Aerial Systems] and other capabilities.”

(antiwar.com)

SO the US will buy weapons from a Ukrainian weapons maker to be used by the Ukrainian military…..why cannot a Ukrainian company make weapons for the military.

This is getting ridiculous at this point……

We will pay their government officials salaries and now we will prop up a business in Ukraine….WTF?

To say I have a problem with this would be an understatement…..

Time for the US to stop worrying about Ukraine and start worrying about the people in this nation.

PERIOD!

I Read, I Write, You Know

“lego ergo scribo”