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<p>nope, they won’t be hurting. But they won’t be making as many jobs for those that are hurting.</p>
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<p>clearly you do not understand the cause of what just happened. Financial organizations (read: banks) were pushed and pushed and pushed to make poor financial decisions (read: lending to people who had no hope of paying back the loan) because the government would help them out if things went bad (read: fannie/freddie would buy the dangerous loans). If there was no government backing (read: fannie/freddie) for these irresponsible decisions, the irresponsible decisions wouldn’t have been made.</p>
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<p>see, social security worked well when there were lots of workers for each retired person. When there are more retired people for each worker, it doesn’t work so well.</p>
<p>What is wrong with personal retirement financing? Then you are responsible for your own money… just like you are for all the rest of the money in your lifetime. When you have enough money saved to last you, then you can retire. Until then, you keep working.</p>