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While having more options generally increases people's well being, we have to expect a substantial amount of people whose investments will be lost in various perturbations that lie ahead.
We may expect to the government to be under strong pressure to feed these old folks.
What bothers me most is what would happen if the market went bust again as badly as it did in 1929-1934. I believe that it is by far not impossible. Then we'd get stuck in a market downturn, with millions of retured people with few means to support themselves, and the government unable to collect enough money to feed them (which is unconstitutional anyway).
What's the difference? The SSA fund just has IOUs in it now and is being funded from current revenue. For those who do well in the market, don't give them any SSA. For those who invest poorly, use general revenue to keep them off the street. If the market collapses and most lose their shirts how is this any different than the comming debacle. - --Ste5e PGP mail preferred Fingerprint: FE 90 1A 95 9D EA 8D 61 81 2E CC A9 A4 4A FB A9 - --------------------------------------------------------------------- Steve Schear | tel: (702) 658-2654 CEO | fax: (702) 658-2673 First ECache Corporation | 7075 West Gowan Road | Suite 2148 | Las Vegas, NV 89129 | Internet: azur@netcom.com - --------------------------------------------------------------------- I know not what instruments others may use, but as for me, give me Ecache or give me debt. SHOW ME THE DIGITS! -----BEGIN PGP SIGNATURE----- Version: PGP for Personal Privacy 5.0 Charset: noconv iQCVAwUBM6W/MjvMjmxVx4sNAQFszgP9HCBDId4AwdAzsjaL3+0IY85mRMmiLpiJ FP7KHvS+o0EO8NNzjb6Fv0z/8F7eEzqziUwCb6e8SgKssblMxv9zNAC+YLzeut+h /wm/f5mqC2zF942T9hsAP70IHokld7BhIPQL0YSLv+ywEG47rZh98oF9pwholXxK MaO+HHTUrm4= =pP/v -----END PGP SIGNATURE-----