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To: jeremiah
Exactly right, this administration spends money like conservatives think Clinton did/would....I hated x42, but I could handle a little Clintonomics right now. Or at least the congress of his last term.

Clintonomics was the confluence of two things. ERISA heralded the change from defined benefit pensions to defined contribution retirement plans AND Clinton managed to push interest rates to very low levels. Employees were forced to start putting money into 401k, stocks and mutual funds. Add the scam artist startups with skyrocketing stock prices and you had wild growth in the stock market.

The whole charade becomes a swift kick in the groin in 2016. The baby boomers start hitting age 70 that year. ERISA requires them to start taking distributions so the government can tax that money. When 75 million plus people start taking mandated distributions, the stock market is going to tank.

18 posted on 05/29/2005 9:14:33 PM PDT by Myrddin
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To: Myrddin

If you want to have a chuckle (or a shiver) chart the baby-boomer retirement phases. Looks exactly like a tsunami, and might have a similar effect.


23 posted on 05/29/2005 9:31:30 PM PDT by spetznaz (Nuclear tipped ICBMs: The Ultimate Phallic Symbol.)
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