On Wed, 01 Jul 2009 06:16:07 -0400, HK wrote:

Vic Smith wrote:
On Tue, 30 Jun 2009 21:14:19 -0700 (PDT), Tim
wrote:

You ready to take it int he shorts?

Who needs Vaseline when you're going to get the barbed wire-wrapped-
around-the-broom handle treatment.


http://www.chicagotribune.com/news/l...,4274002.story


What a mess. I think the biggest problem is those gold-plated
salaries and pension plans they're paying to state employees,
including college faculty.
That's the biggest danger of big gov, they vote themselves and their
cronies big money.
And the Dems want to borrow 2 billion instead of cutting spending or
raising taxes. WTF?
They should rely mostly on SS and 401k savings like just about
everybody else has to, and keep pensions within reason.
The Fed elected officials are probably worse.
They can print money.
Dead weight and featherbedders all over the place.
Hey, ever think about running for Congress?
Like winning the lottery if elected.
Thanks for getting me depressed. Don't you miss Blago?
Told ya. (-:

--Vic


After the recent debacle in the financial markets, and the obvious
demonstration that they are "run" by incompetents and just plain crooks,
why should anyone have to "rely mostly on ... 401k savings..." for their
retirement, based upon corporate stocks? In recent years, the stock
market has proved itself to be unreliable.

Uh, I piled up a lot of money saving into my 401k and I didn't touch
stocks. Always money market. The tax sheltering encourages savings.
The feds guaranteed a bottom on money markets else it all would have
fallen apart.
The biggest problem with the 401k system is that the money markets are
non-competitive. Wall Streets like it that way.
When I could pull my money out of that 401k I tripled my return by
rolling it into IRA CD's on the open market.
FDIC guaranteed.
Equities are a gamble, and always have been.

--Vic

Vic Smith wrote:
On Wed, 01 Jul 2009 06:16:07 -0400, HK wrote:

Vic Smith wrote:
On Tue, 30 Jun 2009 21:14:19 -0700 (PDT), Tim
wrote:

You ready to take it int he shorts?

Who needs Vaseline when you're going to get the barbed wire-wrapped-
around-the-broom handle treatment.


http://www.chicagotribune.com/news/l...,4274002.story

What a mess. I think the biggest problem is those gold-plated
salaries and pension plans they're paying to state employees,
including college faculty.
That's the biggest danger of big gov, they vote themselves and their
cronies big money.
And the Dems want to borrow 2 billion instead of cutting spending or
raising taxes. WTF?
They should rely mostly on SS and 401k savings like just about
everybody else has to, and keep pensions within reason.
The Fed elected officials are probably worse.
They can print money.
Dead weight and featherbedders all over the place.
Hey, ever think about running for Congress?
Like winning the lottery if elected.
Thanks for getting me depressed. Don't you miss Blago?
Told ya. (-:

--Vic

After the recent debacle in the financial markets, and the obvious
demonstration that they are "run" by incompetents and just plain crooks,
why should anyone have to "rely mostly on ... 401k savings..." for their
retirement, based upon corporate stocks? In recent years, the stock
market has proved itself to be unreliable.

Uh, I piled up a lot of money saving into my 401k and I didn't touch
stocks. Always money market. The tax sheltering encourages savings.
The feds guaranteed a bottom on money markets else it all would have
fallen apart.
The biggest problem with the 401k system is that the money markets are
non-competitive. Wall Streets like it that way.
When I could pull my money out of that 401k I tripled my return by
rolling it into IRA CD's on the open market.
FDIC guaranteed.
Equities are a gamble, and always have been.

--Vic


The money market rates available through 401(k)'s are far less than
impressive, and as you point out, don't approach those available via
insured CD's. Part of the problem here is that the employer or someone
contracted by the employer pretty much picks what
instruments/funds/money market funds are available for the choosing.

Too many Americans did not and still do not realize what a gamble
equities are, especially these days.