If Social Security Had Been In Private Accounts The Stock Market Drop Could Have Been A Disaster

[Andylusion]

What would the point be of mentioning Bush? Bush is gone. Is Obama and Hillary gone? So, mentioning someone who we can not vote out, when talking about voting out people who supported the bailout, has what benefit? Not the brightest candle are you?

In other words, "...don't mention or try to learn from past screw-ups.....Bush is gone.....TARP is just a bad memory, etc."

And, an idiot like yourself has the nerve to actually state that I am not the brightest candle?

Yeah I have the nerve to point out what everyone else is already thinking about you. Sorry if brutal truth hurts, but I don't believe in lying to small minded people.

You have no idea who you are talking to. I was screaming about the bailout.

And unlike you.......... I specifically looked up every single person that voted in favor of the bailout, and I voted against each and every single one of them, in every single election since 2008.

Democrat, or Republican, if they supported the bailout, I automatically voted against them.

If I remember right, not a single Republican or Democrat that voted in favor of the bailout or TARP, is still in office, in my district. I think the last one was voted out in the last election. And I WILL be checking in this coming election.

Can you say that you have done the same? Of course we all know the answer to that is *NO* you hypocritical trash. Shut up. Lying scum.

 

[healthmyths]

Yes, and how many people will fail to succeed in surviving these crashes without damage? How many will have enough or find someone trusted?

In the right wing "future", picture a 90 year old woman in a nursing home, trying to access the DOW to see if she'll get kicked out of the home when there's some dips.........Or try to tell the bastards that run the nursing home, "....wait, I was assured that the market always bounced back..."

Also picture the emergence of a bunch of shysters who will "manage" nursing home-bound people's market portfolio.

Where do you think SS puts the excess revenue coming in from your deductions? US Treasury bonds. Are you familiar with them? Considered the safest investment.
Now if SS were privatized the 90 year old woman would have when she was working would have been given a choice:
A) Keep letting SS buy US treasury bonds with her money... OR
B) She could buy US treasury bonds with her money.
That is the concept of "privatizing SS". The individual has the choice to let SS buy bonds or if the individual under privatization could chose to buy treasury bonds.

What is the difference?
Do you know understand? Privatization didn't mean people just putting money in the stock market.
They would have the choice to put into local bank, into US treasury bonds, Or buy stocks. Their choice.

 

[C_Clayton_Jones]

The genius of the Social Security Act is that it acknowledges the unpleasant but undeniable fact that there will always be a significant number of Americans living from paycheck to paycheck, even during periods of economic boom; Americans who as a result will never be able to generate the income necessary to save for retirement – and what savings they do generate are used to pay for a car repair or replace the water heater.

The Act also acknowledges the fact that during a recession millions will lose their jobs through no fault of their own, likely to be compelled to exhaust their savings while unemployed, where many won't be able to replenish those exhausted savings.

And the Act acknowledges the fact that society has the right and obligation to safeguard citizens from the adverse consequences of a large number of older Americans no longer able to work who lack the resources to sustain themselves when that day arrives.

The notion, therefore, of 'privatizing' Social Security is completely devoid of merit.

 

[Where_r_my_Keys]

Yes, and how many people will fail to succeed in surviving these crashes without damage? How many will have enough or find someone trusted?

In the right wing "future", picture a 90 year old woman in a nursing home, trying to access the DOW to see if she'll get kicked out of the home when there's some dips.........Or try to tell the bastards that run the nursing home, "....wait, I was assured that the market always bounced back..."

Also picture the emergence of a bunch of shysters who will "manage" nursing home-bound people's market portfolio.

Where do you think SS puts the excess revenue coming in from your deductions? US Treasury bonds. Are you familiar with them? Considered the safest investment.
Now if SS were privatized the 90 year old woman would have when she was working would have been given a choice:
A) Keep letting SS buy US treasury bonds with her money... OR
B) She could buy US treasury bonds with her money.
That is the concept of "privatizing SS". The individual has the choice to let SS buy bonds or if the individual under privatization could chose to buy treasury bonds.

What is the difference?
Do you know understand? Privatization didn't mean people just putting money in the stock market.
They would have the choice to put into local bank, into US treasury bonds, Or buy stocks. Their choice.

The Money Confiscated under the rubric of SS, is spent immediately upon being transferred from your possession, to that of the US Federal Government.

The US Government then issues a bond to cover their would-be debt; immediately spending that money... . US Tax Payers and Foreign entities purchase those bonds with the promise to have the principle, plus the promised interest rated for the bond.

Thus the Government presumably owes the money you forfeited under the guise of SS... plus the principle of the bonds, plus the interests on the bonds.

It should be noted that the US Federal Government has determined that US Citizens are NOT ENTITLED TO ANY SOCIAL SECURITY RETURN ON THE MONEY THEY CONFISCATE FROM US TAX PAYERS... in the name of SS. (That's a Clue.)

 

[LogikAndReazon]

The illiterate schmucks willfully dependent upon social insecurity deserve the meager, civil servant managed, paltry existence they insisted on for themselves....

Poor, mindless, wretches.......

 

[Where_r_my_Keys]

The genius of the Social Security Act is that it acknowledges the unpleasant but undeniable fact that there will always be a significant number of Americans living from paycheck to paycheck, even during periods of economic boom; Americans who as a result will never be able to generate the income necessary to save for retirement – and what savings they do generate are used to pay for a car repair or replace the water heater.

The Act also acknowledges the fact that during a recession millions will lose their jobs through no fault of their own, likely to be compelled to exhaust their savings while unemployed, where many won't be able to replenish those exhausted savings.

And the Act acknowledges the fact that society has the right and obligation to safeguard citizens from the adverse consequences of a large number of older Americans no longer able to work who lack the resources to sustain themselves when that day arrives.

The notion, therefore, of 'privatizing' Social Security is completely devoid of merit.

You're an imbecile...

There is no money in the SS system. It is today: ABSOLUTE DESTITUTE. There are merely credits and debits. All monies paid out in the name of SS is money printed by the Fed, which is 'borrowed' by the US Federal Government, which is listed as a budget deficit on that years accounts.

100% of every dollar taken in under the guise of SS this year, is spent... it is spent the moment it hits the US Treasury.

The entire SS system is a scam... operated by a criminal syndicate. ANY private citizen that set up an identical system as the US Federal Government as a 'retirement' fund for their employees... would be sent to prison for their effort.

To see a recent example of such one need go no further than one Bernard Madoff... who was recently charged with operating a Social Security type Retirement Program... and who was stripped of every penny he had, every possession he owned, along with his freedom and will remain in prison for the rest of his natural life.

 

[Sun Devil 92]

If they invested on the day before the drop. Otherwise you're talking out of your ass

LOL. Sure.

Clearly you don't get what he is saying.

To bad you can only repeat what others who don't know what they are saying........and look like a fool.

 

[nat4900]

What is the difference?
Do you know understand? Privatization didn't mean people just putting money in the stock market.
They would have the choice to put into local bank, into US treasury bonds, Or buy stocks. Their choice.

Great, pose that question to one of your ilk and, based on his obvious level of "intelligence", tell us how he'd respond.

 

[Sun Devil 92]

The genius of the Social Security Act is that it acknowledges the unpleasant but undeniable fact that there will always be a significant number of Americans living from paycheck to paycheck, even during periods of economic boom; Americans who as a result will never be able to generate the income necessary to save for retirement – and what savings they do generate are used to pay for a car repair or replace the water heater.

The Act also acknowledges the fact that during a recession millions will lose their jobs through no fault of their own, likely to be compelled to exhaust their savings while unemployed, where many won't be able to replenish those exhausted savings.

And the Act acknowledges the fact that society has the right and obligation to safeguard citizens from the adverse consequences of a large number of older Americans no longer able to work who lack the resources to sustain themselves when that day arrives.

The notion, therefore, of 'privatizing' Social Security is completely devoid of merit.

Your conclusion, in now way, follows the prattle you posted prior.

Anyone who understands the history behind social security understands why it was a necessary short term fix.

The notion of "privatizing" is only one option (and not one that I agree with), but still has merit when considering the options that people could exercise in looking at how retirement plays out.

Keeping people working longer is going to be a necessary part of a future program.

When considered against the original demographics and lifespans at the time of it's inception, the retirement age should be 72 now.

 

[Sun Devil 92]

Privatization could also mean personalization.

Which would go from a defined benefit to a defined contribution.

You should keep a base amount with the government (and it should be treated like a bank deposit) and have options beyond the minimum. When you pass away, your balance would pass down to your heirs.

There are plenty of ways to improve it.

The far left (not liberals...we look for better ways) fills it's collective diaper everytime anyone suggests a change to social security.

 

[Sun Devil 92]

The causes of the crisis are complex and developed over many years. But if you want to hold a single elected official responsible for the collapse of American International Group -- if any one event could have taken down the entire financial system, that was it -- it would have to be [Phil} Gramm.
The Few Who Won't Say 'Sorry' for Financial Crisis - Bloomberg View

Will you ever get out of the past ?

 

[bripat9643]

The feds bailed out the banks. How did they bail out the stock market?
If you're so opposed to bail outs, then why don't you vote out the politicians who approve them. You know, like Hillary and Obama?

OOOpps, I'm sure its an oversight but you did forget to mention Bush....oh, and by the way, do you remember that scum bucket Phil Gramm????


As chairman of the Senate Banking Committee from 1995 through 2000, Phil Gramm was Washington's most prominent and outspoken champion of financial deregulation. He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street. He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far.

What would the point be of mentioning Bush? Bush is gone. Is Obama and Hillary gone? So, mentioning someone who we can not vote out, when talking about voting out people who supported the bailout, has what benefit? Not the brightest candle are you?

While I'm not a big fan of Phil Gramm, Glass-Steagall Act would not have prevented anything. The price bubble started before the repeal of Glass-Steagall.

Further, Credit Default swaps didn't take down anything. That's an ignorant perspective. There were trillions of dollars worth of Credit Default swaps, the vast vast majority did not fail. Only the ones placed on Sub-prime loans, which failed, ended up being a problem.

This is like looking at one car that has a bad wheel, and saying all cars need banned. They have bad wheels. Very dumb.

Turds like NAT need a Republican to blame, so they point the finger at Glass-Steagall. The one thing they will never do is blame the government.

 

[nat4900]

It is rather "amazing" that such right wing nitwits on this thread alone, FIRST, deride fellow Americans for voting democrat...as stupid, ....BUT, SECOND, expect that these same "stupid" voters should become savvy enough to check the Wall Street Journal every morning and make the kind of wise decisions that will make them "rich" in their retirement years....

Of course these same right wingers try to bullshit each other into believing that they are "masters" in the investment arena and make lots and lots of money by using their "superior acumen".....and still have time to waste posting on this (and other) forum.

IDIOTS !!!! LOL

 

[bripat9643]

What would the point be of mentioning Bush? Bush is gone. Is Obama and Hillary gone? So, mentioning someone who we can not vote out, when talking about voting out people who supported the bailout, has what benefit? Not the brightest candle are you?

In other words, "...don't mention or try to learn from past screw-ups.....Bush is gone.....TARP is just a bad memory, etc."

And, an idiot like yourself has the nerve to actually state that I am not the brightest candle?

When did you learn that socialism doesn't work? A corollary to that rule is that government doesn't work.

 

[bripat9643]

Zero sum neophytes have always been losers.....so I can see how that would be your only perspective.

True.....Its actually MAGIC......Try placing your portfolio under your pillow and the "market-fairy" will make it grow.

Oh my goodness! IT WORKED! I have 25% more money than I put in! Amazing! Or no... it's how it works. Never mind.

Oddly, the same fairy didn't appear over in Greece, and now everyone is leaving the whole country.

Why didn't your Social Security fairy go to Greece?

Yes, and how many people will fail to succeed in surviving these crashes without damage? How many will have enough or find someone trusted?

How many will end up with more money than if they put it all into Social Security? Probably all of them. You have to be a terrible investor to do worse than Social Security.

 

[nat4900]

Turds like NAT need a Republican to blame, so they point the finger at Glass-Steagall. The one thing they will never do is blame the government.

MORON, Phil Gramm WAS in the government......LOL

 

[bripat9643]

Yes, and how many people will fail to succeed in surviving these crashes without damage? How many will have enough or find someone trusted?

In the right wing "future", picture a 90 year old woman in a nursing home, trying to access the DOW to see if she'll get kicked out of the home when there's some dips.........Or try to tell the bastards that run the nursing home, "....wait, I was assured that the market always bounced back..."

Also picture the emergence of a bunch of shysters who will "manage" nursing home-bound people's market portfolio.

In the liberal future you'll get to see what happens when the 90 year old woman's Social Security check bounces. There's already a gang of shyters called "Congress" managing that retirement program.

 

[nat4900]

Will you ever get out of the past ?

I think Charles Manson said the same thing at his last parole hearing.

 

[Sun Devil 92]

It is rather "amazing" that such right wing nitwits on this thread alone, FIRST, deride fellow Americans for voting democrat...as stupid, ....BUT, SECOND, expect that these same "stupid" voters should become savvy enough to check the Wall Street Journal every morning and make the kind of wise decisions that will make them "rich" in their retirement years....

Of course these same right wingers try to bullshit each other into believing that they are "masters" in the investment arena and make lots and lots of money by using their "superior acumen".....and still have time to waste posting on this (and other) forum.

IDIOTS !!!! LOL

Great arguments !

Wow.....wiped out everyone with that one.

The left wing is filled with dorks like you.

 

[Andylusion]

Yes, and how many people will fail to succeed in surviving these crashes without damage? How many will have enough or find someone trusted?

In the right wing "future", picture a 90 year old woman in a nursing home, trying to access the DOW to see if she'll get kicked out of the home when there's some dips.........Or try to tell the bastards that run the nursing home, "....wait, I was assured that the market always bounced back..."

Also picture the emergence of a bunch of shysters who will "manage" nursing home-bound people's market portfolio.

In the left-wing "future" elderly will protest in the streets and clash with police because Social Security is broke, and the country is bankrupt. Elderly will be forcibly removed from banks where they used to draw their deposited Social Security checks, and huddle around closed government hospitals and pharmacies desperate for treatment and medication. They will line up for trays of free soup on the street, in the cold. They will burn wood, causing smog throughout the cities, because they can't afford gas heating anymore. And ultimately having swallowed the lies of the left, and ended up impoverished, kill themselves....

Elderly fighting with police.

About to be removed by police, crying in front of the national bank...

Closed government hospital....

Closed government pharmacy....

Being fed trays of soup out on the street....

Clouds of smoke above Athens from people burning wood for heat.

Thousands form a shrine to an elderly pensioner who committed suicide. The suicide sparked day so riots and clashes with police.

Unlike the mythical right-wing "future", this left-wing future is here now.... in Greece.

What you see illustrated above is the future of America, if we follow your left-wing ideology like Greece did.