He is an unlikely Jeremiah, a funds manager in a pinstripe suit with a résumé that includes a stint as chairman of the Federal Reserve Bank in Richmond, Va. Yet Thomas Mackell Jr. is warning of a future in which the homeless elderly live under bridges and the old and the young engage in “intergenerational warfare” over disappearing jobs.
Where are the jobs? Sent to China by our dear corporations for a few bucks more. Thanks Alot.
If something doesn’t happen soon, this country will go the same way as every other empire,” said Mackell. Citing the growing income gap between rich and poor, the deterioration of infrastructure, and, most of all, the problems facing the 77 million aging members of the Baby Boom, the financial funds manager called America’s prospects “abysmal.”
“What he had to say was pretty frightening,” said Jack Brennan of Hillsdale, chairman of the Association of BellTel Retirees, a group with 112,000 members throughout the country.
“But his purpose wasn’t to scare us, but rather to energize us into taking action.”
The action — protecting pension benefits and health care for retirees. “We have to keep fighting for what we fought for years ago,” Brennan said.
America' working class is waking up to this teaparty assault by the richest americans
Braun: Expert with ties to N.J. says if pensions aren't protected, nation will suffer | NJ.com