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Apr 17

Working to Death

7046362967 c98626e7d3 Working to Death

By George Ure and Gaye Levy, Contributors
Activist Post

Time to take on one of the ugliest questions an American worker can ask: “Do I have to work until death?”

Sadly, for an increasing number of Americans, the idea of retirement at age 62 to a life rich with adventures and the once-held American dream of “Golden Years” has turned into cardboard, or worse.

We’ve identified a large number of factors which are in play and a discussion of each helps to put “Working to Death” into perspective.

  • Mass consumption Home Improvement Loans and HELOCs.
  • The soaring divorce rates of recent years.
  • Inter-government “investment” of Social Security.
  • Long-term inflation by the Federal Reserve.
  • Soaring healthcare costs.
  • Serial market declines.
  • Pension fund bankruptcies and shortages.

Let’s address these in turn, starting with home improvement loans and HELOCs – the once darlings of the financial “services” industry standing for Home Equity Lines of Credit.

At their peak, during the go-go years of the 1990s and into beginning of the end of the housing bubble in 2007, the number of people “borrowing home equity” for current expenses, such as education, a new SUV, or to meet unexpected cash flow demands, skyrocketed.

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