Wednesday, February 10, 2016

Longer lives mean more use of nursing homes, more problems with senior debt

Tuesday, Tara Bahrampur placed a telling story on the Front Page of the Washington Post, “’I won’t put you in a nursing home’; a vow that sometimes can’t be kept

That’s one thing to say with a spouse.  It’s another with an elderly parent.  That probably would have happened with my own mother had she not passed at 97 at the end of 2010.

It seems to me that there could be a connection between “filial responsibility laws” that I’ve discussed here before, and the paid family leave debate.  It is more reasonable to include eldercare as covered in any such legal arrangement with employers if there is recognition that filial piety is indeed a legal requirement.  Since that blip in Pennsylvania in May, 2012, people have started to forget this.

Michelle Singletary  today has a column about seniors with a burden of debt.  I’ve noted that major indices in the stock market have dropped about 12% during this latest round of “corrections” of China and oil prices (since last summer). My own experience is that this amount of drop in valuations leads to about an 8% drop in net worth (the rest is some unusual spending), excluding real estate.   Valuations matter a lot more to people who own the securities than they do to the balance sheets of the companies themselves (and their employees).  But valuations don’t accurately reflect real wealth of A society the way a stable physical (and social) infrastructure does.  So, let Taylor Wilson reinvent the entire power grid and get rid of our dependence on oil once and for all.  And let Jack Andraka, if he is right about stem cells and nano-medicine, have us (or at least his generation) living to age 1000.  What then about having babies?

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