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To: uncbob

This is silly. It's a good thing that banks loan out most of the money that comes in--that's how they earn money. If they kept all the money in vaults, how could they pay interest to depositors? Your allegation that banks will go bust as people age and withdraw money to "eat" is also wrong. America has aged quite a bit in the last ten years. To my knowledge, no banks have gone bust because armies of ravenous retirees have shown up wanting to withdraw money for the buffet. Japan is much older than the US. Same can be said there. Even if it were true, that money would into the hands of people owning restaurants, and they would want to put it in . . . banks. Learn some economics before spouting off.


31 posted on 12/10/2004 9:16:50 PM PST by maro
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To: maro
America has aged quite a bit in the last ten years. To my knowledge, no banks have gone bust because armies of ravenous retirees have shown up wanting to withdraw money for the buffet

That's cause up till now SS wasn't in trouble either cause you didn't have as MANY retired as contributing. Have you not been reading WHY SS is in trouble .Well those same demographics will affect the banks and stock market
32 posted on 12/11/2004 5:06:50 AM PST by uncbob
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