Posted on 11/19/2012 7:08:33 PM PST by Perdogg
I have a stockpile of bulbs. And a glock. As we say in Texas “come and take it”.
I have a stockpile of bulbs. And a glock. As we say in Texas “come and take it”.
gas is going over 10 bucks a gallon, easy. 7 is waaaaahaaaay too optimistic.
that also was what the election was too. and the takers stole’ that, too.
I don't see this coming up for a vote even if it really exists. This is like all those Fairness Doctrine posts that appeared here exactly 4 years ago that were going to take Rush off the air. These funds are invested in private companies so the government cant just ‘convert’ them to government debt.
Yes the national debt is being funded by the Federal reserve but notice that our savior Romney NEVER mentioned that ONCE in his campaign.
Nor did he say the entitlement trust funds were just paper backed by nothing but future borrowing.
I agree with your take here. Logically, you can’t talk all these funds out of the stock market. It would take a massive hit.
In 2011, the total 401k savings in the U. S. was $11.6 trillion. The total retirement market assetts were $17.9 trillion.
They’d have to do this over a period of time if they were going to do it, and there would be holy hell to pay.
Start screwing around with people’s savings, and watch what happens. It won’t be pretty.
See page 2.
http://www.ici.org/pdf/2012_factbook.pdf
No, under the new math 50 = 57.
The whole idea is silly.
If the government were even thinking about this they would have eliminated the tax deferment for these private investment savings for new contributions unless it was the Fed debt.
If they are scared to do that or don't want to then how can they be just taking it all? AS if that would be legal anyway.
That's undoubtedly what they thought in Argentina, too, right before the government did exactly that.
Your life's savings and mine are no more than blips on a computer screen, and when unscrupulous men point guns at the heads of bank executives, those little blips are sent wherever the men with guns say they go.
-ccm
They can put away the guns. I imagine Obama already has a speech written up:
“After the recent stock market crash, senior citizens relying on their investments for income saw them disappear. What they thought were sound investments were risky schemes - propagated by folks focused only on their own greed. Therefore, by Executive Order, I have created the Affordable Retirement Fund Act that will safeguard retirement funds by using only government approved investment agents, and investing in only safe, approved and inspected funds and companies upon their review by governmental personnel. In this modern age, in the most advanced country in the world, no person should go in want in their Golden Years due to the violent and unpredictable swings of investing in the free market."
But by monetizing the debt they ARE “doing it” and they are doing it RIGHT NOW!
Oh brother!
Well if Ryan, Bohner and the rest of the R house are going to help Obama confiscate our retirement savings in private companies (the silly idea you are claiming), then why the hell did we want Republicans to take the house?
Hell, Pelosi didn't do that in 2009 when Dems had complete control. At least if she was in charge Dems would be getting the blame,.
Be serious. I remember exactly four years ago dozens of posts here claiming Obama was going to shut down talk radio, 'Hush Rush', but somehow he managed to stay on the air to tell us all the polls were rigged and Romney would win.
I stock piled enough incandescent light bulbs to last till I die. I have one of those curly q light bulbs that Hubby bought. It has burned out.
I don’t know what to do with it, so I just laid it on the counter where we see it every day. I asked Hubby if he would please refrain from purchasing anymore until we have figured out what to do with it.LOL
Both parties benefit from the Fed's war on savings. The economy will continue its decline as long it is safer to speculate than to invest for the long run with a stable currency.
Well, we all knew that Social Security had problems. A little history on how this all transpired:
As designed, it intentionally required a bunch of workers to pay a (premium) for Insurance(Old Age Survivors and Disability Insurance-OASDI)for the elderly who were not able to work or find a job during the Great Depression.
It was not a retirement system as much as it was insurance in case you couldn’t work. The insurance companies didn’t want to mess with the little individual policies for your average Joe anymore, they wanted to concentrate on more well to do clients.
A Republican Insurance Guy helped develop the original proposal. The Democrats fought it, cause the Union didn’t like it. The Railroad had a similar plan that went through Congress, and wound up at the Supreme Court. Congress has no authority to levy premiums, but they can tax. A few changes, and wahla it is all constitutional.
Had this Insurance continued as a private plan, the Insurance Actuaries would have determined for the industry changes that needed to be made to be viable: such as retirement age, premium adjustments, etc and changes would have been implemented as it went along. Congress didn’t make all these adjustments.
Fast Forward to the Reagan Era. So Reagan and Tip O’neil agreed that in order to “fix” it, the baby boomers would have to continue supporting those who were currently receiving checks, but would also need to contribute more in order to support their own “retirement” which was to be delayed by a few years.
Baby boomers were okay with that, but a bit skeptical that they would ever see a penny of that money. The IRAs seemed like a good way to reduce your taxes and help save for a scenario where the Social Security system was insolvent. then along came the 401k and company matching.
I prefer managing my own IRA/401k plan rather than Social Security. The privitization of Social Security was discussed during the Clinton years, but never really took off.
Just think, if all that money could have been invested during the 1990’s, most people would be better off today.
Any way, the government is not getting my IRA or 401K. I’ll take it and invest it in land, ammo, or food etc. As inflation heats up, you can sell the extra items to buy what you need or to pay taxes.
I think Hungary and Argentina did just that, nationalized people’s retirement savings.
Exactly right. The vast majority of people in this country have no to very limited retirement savings. It’s the next pot of gold for takers and haters.
Lastg night - my local TV station...
http://www.wthr.com/video?autoStart=true&topVideoCatNo=default&clipId=7969455
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