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Vic Smith

Vic Smith is offline

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First recorded activity by BoatBanter: Oct 2006

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Wall Street Whores

On Thu, 18 Sep 2008 12:38:04 -0400, wrote:

On Thu, 18 Sep 2008 10:56:56 -0500, Vic Smith
wrote:

And to think some lamebrains wanted to replace SS with a casino.

If the economy really crashes and the government has to bail out as
many people as they have committed to, SS will be broke too.
Bank deposits are pretty much the safest investment other than T Bills
FDIC is already in trouble just from the recent bank failures. If FDIC
goes broke T bills are next
Bear in mind the SS trust fund is really unsecured debt. As long as
they keep taking in more than they spend things are fine but that
comes to an end pretty soon. The gravy train starts slowing down in
about 3-4 years and starts backing up in 8-9 (SS losing money)
Then your SS is only as good as the amount of money the fed can print
They give it to you with one hand and inflate the value away with the
other.

Quit trying to scare old people. We don't want a 30 million geezer
march on Washington.

--Vic

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