[Vince Ferrer]

This is a good deal, for the government, not for the citizens who will participate in it. China doesn't want to buy our bonds anymore, and have in fact announced that they will not. The Fed stepped in and bought them for years, but now they are sick of it, and don't think it is effective. Japan, the next biggest buyer, is going to start net selling because they need to start cashing in their retirement funds.

So, either we can cut our budget to the level where we don't have to sell bonds, or we can just find another customer.

Welcome suckers!

First, it is voluntary for people with no other retirement savings. Then it becomes mandatory. Then 401ks get rolled into it. And then the levels of required investment keep increading, until finally Atlas shrugs. But it keeps the game going for a little longer.

Get your money out of the Matrix.

[octex]

Then 401ks get rolled into it. And then the levels of required investment keep increading, until finally Atlas shrugs. But it keeps the game going for a little longer.
Get your money out of the Matrix.
****************************
Vince, let’s say, hypothetically, that a guy has $500,000 in a 401K.

If he takes it all out, where does he put it to be safe?

Serious question.

[Artie]

“First, it is voluntary for people with no other retirement savings”

Wonder what the incentive plan for non-savers will be? Toasters? Blenders? Set of Super Bowl tumblers? No silly, it will be subsidized by people who have jobs.