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Elderly Americans' Confidence Collapses To 11-Month Lows (As Middle-Aged Hope Surges)
Amid the turmoil of the markets, it appears that older Americans (those over 65 years old) are the most negatively affected as their "comfort" has collapsed to 11-month lows. Oddly, perhaps thanks to lower gas prices or simple Schdenfreude for not being as neck-deep invested in stocks as the older-generations, middle-aged Americans (from 35-44) have seen a resurgence in confidence (now at 4-month highs).
Will a fed rate hike provide just the additional 25bps on interest income that the retired (or not so retired) needs? Or will it finally crush that generation's dreams of retirement on the beach (as pitched by every wealthg manager ever) as they finally give up on the ponzi 'wealth creator' that is the US stock market?
Charts: Bloomberg
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I'm old and very confident!
That the whole fucking pile of shit collapses any day now!
And the Feral Reserve raises rates soon no matter what
You mooks!
Old folks feeling bad?
5 years of ZIRP will do that.
My Daddy was a bank robber, but he never hurt nobody.
https://www.youtube.com/watch?v=dSl0w5Cqj-Y
this shit is absolutely fucking meaningless !
Older Americans have enough perspective to see that things are seriously f'd up in this country and are getting worse.
The fact that their Social Security payments buy less by the day can't be helping, either.
It's more about ZIRP than inflation - this group has gotten murdered on fixed income, pensions underfunded and the ever escalating property taxes will force them to sell out sooner or later - they also believe the Clinton/ Bush Party will gut SS and force them to spend down the little money they have before getting their Social Security Insurance
Murder by Neglect is coming
They better catch the right wave of scared foriegn money when it comes to selling houses. Current prices otherwise aren't going to hold. And the generations of US citizens behind them are broke anyhow.
Jeb Bush already stated poor people need to work longer hours.
Yesterday Jeb Bush stated the wealthy need tax cuts and he’s the guy to get them enacted
Jeb Bush: People Need to Work Longer Hours
http://news.yahoo.com/jeb-bush-people-longer-hours-235206730.html
That silver spoon douchebag is sickening.
It's palpable how entitled he thinks he is to the Presidency. Absolutely nauseating...
Seems to me the best way to make money in this market is to produce charts
Sell Hookers and blow to the chartists!
It has its ups and downs.
I couldn't wait on the FED. Moved to Mexico and just today I purchased a 6 month government 'CD' - returns 3.54 % (per annum).
I go to banks, open ‘new accounts’ for the promotion bonus money and just transfer money from bank to bank.
Yes, $500 offers from both Capital One and Chase!
Cha-ching!!!
You must be a millionaire- I got a toaster(2 slicer) and said to be careful to keep up my minimum balance. I didn't ask if they were coming for the toaster I fuked up
Check kiting.
Ha good one - kind of like your own QE program
Wanna bet your pesos depreciate more than 3.54%?
We still own dollars but our pesos are closer - and that comforts me. For awhile now I buy everything on my BofA no fee credit card (lose a few pennies on the exchange - but it is very good). In time the dollar will come down.
or you're shot dead during a gun fight.
Another bullshit propaganda piece.
Old folks over 65 should not invest in this rigged game.
You'll lose everything.
Tell the pigs to drop dead.
In the US - other than cash - the only thing we own are good quality corporate bonds which we hold to maturity.
I wouldn't hold anything longer than 5 years to maturity.
Too much uncertainty NOT priced into current yields.
I don't believe in the power of the Pentagon to keep the peace.
But they can rig a market.
two words: reverse mortgage [LMAO]
40% equity cut predicted.
No US buyers.
Fed can not raise rates even a quarter point - us older savers might get a little return
Any CFP pushing aggressive equity portfolios to anyone over 65 should have their license revoked, or nuts castrated.
No, no, no,,,don't revoke their licenses, instead collect evidence, then form a class action against them when this all falters.
Start collecting names.
Someone start a Facebook account.
Call it enemies of the state.
I'm confident that old people are eating Alpo!
Not quite there yet. But so far I have pressure canned 10 quarts of tomatoes, 10 pints of carrots, 24 jars of raspberry jam and watched 4 YouTube videos on how to butcher and cook squirrel.
Right on brother. We have learned how to grow raspberries, strawberries, blue berries, peas and beans. I learned how to make wine. Our fruit trees are beginning to produce. Next year we will plant nut trees. At least we can eat well while we watch the royalty flush the country.
We have blackberries, raspberries, blueberries (but they need some help), red and gold grapefruit, pepper, lemons, limes, guava, perhaps 4 different types of oranges, coffee, plum, pamagranites, avacados, bananas, cactii, and some stuff I don't know what it is. What elevation are you at ?
edit : forgot peach
How exactly do you measure confidence? It can change so quickly from one minute to the next.
Take two surveys. Ask the question " Are you confident in your gambling abilities?" as they enter the casino, then again as they are leaving.
Elderly Americans have been on a long enough timeline to expect zero. Buffet and Soros...same thing. Old people shouldn't be allowed to control money and power. All they want to do is die and if everyone goes with them all the F'n better.
"Logans Run" in 3 2 1
Older American attitude...I have been to the mountain top..and it looks scary going downhill on the other side...oh what am I worrying about? ... congress, the new president, and the Fed have my back covered...just hope the stock market doesn't screw up the World Series this year...
.
If seniors are 65+, middle age is 35-44, what are the ones 45-64 called? Tax targets? Cash cows? About to be screwed?
No. Screwed!
Obviously a cultural adjustment needs to be taken into account. At least in the United States anyways.
Well, i'm with everyone else on this; where the hell do the 45-64 years old fit in? You mean to tell me if you're 47 years old you are now considered "Middle Aged to Old Age"????
I'm sorry but we need to adjust for culturally induced youth (age 18-41), and middle age is now delayed to 42-65. After 65 who cares?