"nom=de=plume" wrote in message
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"Moose" wrote in message
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"nom=de=plume" wrote in message
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wrote in message
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On Fri, 11 Jun 2010 18:23:42 -0600, Canuck57
wrote:

Actually, stuff like SS was wel funded. But skimed by the government.
And often invested in losers because of politics. If all the 30+ years
a working types has SS (employer and employee) in their 401k they would
retire early.

The problem is the government has no vehicle to actually save money
since we got off the gold standard. SS was always pay as you go and
the trust fund was just a scam to collect more taxes for other things.
mostly wars. Originally it was WWII (lend lease)when the trust fund
was established (1939-40) and it was put on budget to hide the cost of
the Vietnam war (1968-69).

The concept of 401ks is flawed too looking forward because 83 million
boomers pulling their money out of the stock market and spending it
will crash the market.

The real problem is you can't have a third of the adult population
living off the work of the other two thirds without a revolt.

The gov't doesn't need to "save" money as much as it needs to have money
available. The gold standard was highly flawed and died an appropriate
death.

Boomers will not be pulling money out en masse. In fact, some of the
boomer generation has already hit retirement age. It's a spread of about
15 years... something like that. Most with substantial 401K-like savings
will likely pull it out in drips and drabs. Only someone foolish would
pull it out at once, esp. given the tax consequences.


Obie's lickin his chops waiting to get at our 401k money. If we don't
start spending it he'll find another way to grab it. Rest assured on
that, little lady.


You're stupid. Bush was the one who wanted to privatize social security.
Thank GOD that didn't go through. He's the one who went on a spending and
tax give-away for 7 years.


You sound like Obie. Blame everything on the "previous administration". Obie
doesn't have the balls to say W's name.
Got any job prospects Emily?