Yeah. Yeah. The sky is falling and politicians are so stupid that they never want to be re-elected.
The politicians have 401(k)s. Their spouses have 401(k)s. The judges all have 401(k)s. Every constituent has a 401(k).
But some idiot of an economist thinks that politicians and judges are so frickin' stupid as to confiscate 401(k)s.
What. an. idiot.
I guess Cyprus didn’t happen either. Their politicians and judges lost their “excess” savings as well (at least those who didn’t get it moved out-of-country in time). You, sir, are an idiot.
If any ordinary American did what they did, they would be in prison. Congress is "too good" for that lousy $174,000 to $194,000 salary per year, and that is their mindset.
Congress, Judges, and govt officials also participate in the Thrift Savings Plan (TSP), which is a matching program invested in various ways. Three times since 2008, the Treasury has cited "extraordinary circumstances" and "borrowed" from the hundreds of billions there. They have "paid it back" after the government shutdowns were over, but it is all smoke and mirrors.
The seizure of all retirement accounts will probably occur in the midst of a global crisis. I see one coming, and this time, every economist who is not mentally deranged sees no safety valves or exits available this time that were available in the past.
They will have have very few options, and if people think they are going to just "leave my retirement alone" because that's what they wish to happen, it is they who are living in the Matrix.