Monday, January 4, 2010
Greetings Fellow Boomers. All of us can have fun looking into the future. Some with excitement, others with fear. We Boomers collectively have concerns of what the future offers as we begin a new stage in our lives. Carl Jung talked about the phases of the human experience. If you are in your late fifties and early sixties, there is a tendency to think about leaving a legacy. This is motivated by the realization of life passing, especially when our parents and friends move on. Just remember the excitement of being twenty and now in your sixties, reality hits us. It is unfortunate that our society views old age as deterioration and not wisdom. Maybe we will be the Generation that changes that mind set.
In business we make projections or predictions based on analytical tools and logical scenarios. In our everyday lives there are forces ways beyond our control, and this factor makes business projections a little easier, personal projection are more difficult to anticipate. With that said, may I make the following predictions for 2010. I’m not optimistic or pessimistic, just realistic. OK, here goes and let’s hear from you:
Number 1 - Our Federal government will continue to grow rapidly and so too the entitlement programs. My caution here is that if we legislate more “security” it will be at the expense of our freedoms. Should Healthcare Reform pass, the Federal government will control over seventy percent of the economy. What happened to our Founding Fathers vision of a limited government?
Number 2 – Unemployment will continue at double-digits. Boomers will be the real victims of this new reality. Many Boomers will call it a day and go onto Social Security at 62 and drop out of the workforce.
Number 3 – Debt will continue to grow due to government mismanagement. The trillions of dollars of debt will no longer be purchased by China and other counties. This debt can never be repaid and will force a burden on Boomers, Boomer Children and Boomer grandchildren. The Stimulus bills, and maybe more to come, are bankrupting our American economy.
Number 4 – The so-called Healthcare reform has nothing to do about healthcare or reform. The government takeover of the healthcare system which now represent a third of our economy will reconstruct America forever. With both the House and Senate passing this huge piece of irresponsibility, some compromise will be passed in 2010. I hope I’m wrong, but the necessary Democrat votes will be acquired. The only saving grace is this sweeping legislation could be deemed unconstitutional and we can start over on small changes which makes healthcare access and cost affordable for everybody who chooses it.
Number 5 – What is the American family largest expense in the U.S.? If you answered taxes, you are correct. On average the typical middle class Boomer pays fifty-percent of earned income on taxes. These taxes include Federal, state, FICA, property tax, and the list goes on. To support legislation now and in the future, taxes could be over eighty percent in the upcoming years. This inhibits the American spirit.
Number 6 – As the value of the American Dollar decreases, gold, silver and oil will continue to increase. In fact, the Chinese government is encouraging their population to invest in silver.
To counter balance these predictions, here is what you can do:
Faith – Faith in God so we can continue to serve all those we love
Family – Family is the basic unit of civililization from the very beginning. Let’s protect that sacred bond, and have no government replace it
Friends – Friends nourish the spirit through remembrance and experiences. Call a friend right now.
Freedom – Freedom is not free. Americans have suffered and died so that we can live as a free people. Always remember their hard work and sacrifice.
Fun – Americans love good humor. Let’s be proud Americans and still laugh at ourselves.
Be well and God Bless for a Great 2010!
Denny
Cincinnati
