What do you all think of this and it’s long term intention? Is this really a step towards a big grab to secure funds in order to keep this ship afloat?
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Well they’ve had hearings on confiscating private retirement accounts. Wouldn’t surprise me to see them try to transition people into a public retirement system entirely, and above and beyond SS. Already doing it to healthcare.
Because SS works so well… this appears to be just another money grabbing “policy”.
My parents fear that the gubment will attempt to dip their hands into 401k in the near future. This looks as though it could be the beginning of it… I hope my parents get to use all of their retirement funds, because I sure as hell know I won’t get shit in 40 years when I’m 62. Then again, retirement age will probably be 100 by then…
I have to say, I wouldn’t put it past them to try… Once they hit 50+ % of the public “on the dole” you have a majority vote from people who won’t vote away “their check.” At that point, you can begin screwing the rest of the voters with impunity. You won’t lose your seat…
This. One of these days it will be an ‘‘untapped resource’’ for revenue, especially for us 30 and under.
You can not guarantee a return, but you can manufacture inflation.
It is merely another pot to steal from.
The same crooks that have already stolen most everything from you, are now asking you to believe them again.
The beatdown continues & people continue parroting the same mantras’ & on the same azimuth as if somehow group therapy here will work.
The train wreck continues, the band played on & the minions ate popcorn from the sidelines in awe…
Almost unbelievable.
I just love the blatant lie of “not everyone has access to an IRA.” Walk into your local bank and ask to set one up… They’re happy to help.
Say it again.
Americans don’t understand the significance of what was said about MyRa - he said, the cost of credit on the open market will rapidly become too expensive to finance our debt - ie other nations are rapidly getting to the point where they do not want to buy our worthless paper at an interest rate that we must have to avoid going BK (which as I understand it is right @ 5%). Think about 5% in light of the real inflation that must come next. Think about what that ultimately means with respect to a return. Realize that when he is standing there lying to us about a guaranteed return - it will be negative. It will be just like / replace Social Security - a Ponzi scheme that we are all forced to pay into.
He so much as told the nation where we were in the final phase of things.
Meanwhile the second of three equally powerful branches of government that is in place to provide checks and balances cheered when he said he would side step them and rule by decree.
Yeah, because I want to entrust my government with my retirement money…
I think that would be the tenuous string that broke the camel’s back here…I think i’ve got enough risk in funds now…I think the most money my dad ever made was in unimproved real estate…
And sadly, most people don’t even understand what he said or where we are at to begin with. They think it is all peaches and tangerines… panum et circenses and all that jazz.
The people manufacturing the decline of America control enough of everyones reality to the point that reality has literally flipped. We are living in a twilight zone alternate reality and most are asleep unable to see through the smoke and mirrors; as long as they still have a house to live in, free handouts to buy food and beer, and television to decay their minds they will go down with the sinking ship with a smile on their face…
When one is honest with themselves about where we are at as a nation/economy/country, depression and anger kick in to over drive.
It’s gotten so bad that lies don’t even need to be hidden anymore, they just flash some shiney shit here and there, release some celebrity sex tape and the masses look the other way and somehow forget or don’t care that the country is being ruined on purpose and by design.
It boggles the mind the reality we currently inhabit doesn’t it?
ETA:
The fact that most willingly WANT the government to be in greater control of their lives out of some misplaced belief that a government WILL do good by them and keep them safe and cozy when they have thousands of years of history to know otherwise- shows you exactly where we are at.
PEOPLE ARE ****ING STUPID & COMPLACENT to the point of actually wanteing to enslave themselves- and getting dumber and more complacent with each passing day.
“The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” The Rothschild brothers of London writing to associates in New York, 1863.
Anyone who gets one of these accounts learned nothing from Enron or Social Security current plight.
If you like your retirement plan, you can keep it? Is that how this goes?
I hate to say it but the rock I’ll be burying my money under looks better and better each day.
Sounds good to me…How much is your money going to be worth??? Ah, that’s the trick.
A consensus !!!
they will probably have some BS rules like you can only invest only in US treasuries. You’d have to be an utter moron to buy into that.
value is rotting away each day