Detroit Bankruptcy, Now We Wait

Largest Bankruptcies

Largest Bankruptcies (Photo credit: Adam Crowe)

Long-term viability of Social Security has been a subject of concern for years. Now, the Detroit bankruptcy filing turns the spotlight on municipal and state pensions.

I personally believe Social Security is in better financial shape than most people think. Social Security can easily survive into the 22nd century and beyond, if only we have the will.

Detroit skyline

Detroit skyline (Photo credit: Bernt Rostad)

But retirees, and anyone who expects to retire in the future, ought to be nervous about the shock waves from the Detroit bankruptcy. How many other cities, big and small, will have their credit ratings reduced? How many more will follow Detroit into bankruptcy? Not many, we may hope.

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“Across the nation . . .”

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“Across the nation, the most affluent Americans have been seceding from the rest of the nation into their own separate geographical communities with tax bases (or fees) that can underwrite much higher levels of services . . . Being rich now means having enough money that you don’t have to encounter anyone who isn’t.”

Robert Reich in “AFTERSHOCK: The Next Economy & America’s Future.”

Question: What should we call these people who secede from America? Are they patriots? — John Hayden

Maybe The Sun Will Come Out . . .

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Maybe The Sun Will Come Out . . .

Alternating random emotions as retirement comes racing at me.

One Of Those Days . . .

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One Of Those Days . . .

Ever have one of those days where it feels like you’re driving through water?

Summer Of Discontent And Division

SOMETIMES IT SEEMS LIKE WE'RE PADDLING AS HARD AS WE CAN, BUT GOING NOWHERE. AND SOMETIMES, WE'RE GOING OUR SEPARATE WAYS. -- John Hayden photo

SOMETIMES WE’RE PADDLING HARD, IN OPPOSITE DIRECTIONS. — John Hayden photo

This is the summer of discontent and division in America. We’re fractured by class, race, gender, age, and politics.

Yes, I’ve written about divisions before, at least once or twice. Consider this a seasonal update.

stock mktAs U.S. stock markets set new records, people who don’t own stocks are being squeezed and crushed. Recession may be over, technically, but only now are Americans feeling the wrenching pain from the economic dislocation of the past decade.

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” Working Life …”

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“I have nothing to say of my working life, only that a tie is a noose, and inverted though it is, it will hang a man nonetheless if he’s not careful.”

Piscine Molitor Patel in “LIFE of PI,” by Yann Martel

Life of Pi

Life of Pi (Photo credit: GBPublic_PR)

Looking Forward To Old Age

Me too. Hoping to write something worthwhile, that is.

Hold that thought. You’ve already written a bunch of posts that no one else could have written, Ms. Sled. You could probably mine your blog for a good eBook. — John

sledpress's avatarSixteen Tons

I am not any kind of big fat fan of David Brooks, but this offering in a chat feature he shares with Gail Collins made me sit up:

The great art critic Kenneth Clark once wrote an essay on what he called the “old-age style.”  He noticed that some artists peak young but others, like Michelangelo, Titian, Rembrandt, Turner and Cézanne, peaked in their elderly years. These artists shared what he called:

A sense of isolation, a feeling of holy rage, developing into what I have called transcendental pessimism; a mistrust of reason, a belief in instinct.

Holy rage? Transcendental pessimism? I’m there. Not sure about the mistrust of reason, but after reading this, I’m clinging to the hope that as I get older, I’ll write something really worthwhile.

Hit the link to the chat; it’s a bagatelle worth your time, over a morning caffeine infusion or while waiting for…

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7 years later

So many things we think we know; so many other things we don’t know, and we’re not even aware of what we don’t know. — John

Midsummer Postcard From The Beach Motel

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Editor (Retired)'s avatar

Here we are, the middle of July, and I haven’t posted in nearly a month. It’s one of my longest lapses since I began blogging in 2007. (“Work In Progress” is of more recent vintage, started in 2009.) Why is the summer rushing by so quickly? I haven’t been on summer vacation; I’ve been working at the beach motel. And I’ve been distracted by all the uncertainties associated with being on the cusp of “retirement.” Thanks to all who are following along and wondering patiently what’s become of me. I will resume regular posting soon, friends. Whether I can shed any light on the state of my own life or anything else in the world remains to be seen.  — John