Re: OT: Socialism You Can Believe In
- From: F. George McDuffee <gmcduffee@xxxxxxxxxxxxxxxxxxxxxx>
- Date: Sat, 25 Oct 2008 11:06:43 -0500
On 25 Oct 2008 05:25:08 GMT, D Murphy <spamto154@xxxxxxxxxxx>
wrote:
Hang on to your wallets, the hopium addicted changemeisters are pondering====================
seizing YOUR retirement savings.
<http://www.usnews.com/blogs/capital-commerce/2008/10/23/would-obama-dems-
kill-401k-plans.html>
[House Democrats recently invited Teresa Ghilarducci, a professor at the
New School of Social Research, to testify before a subcommittee on her idea
to eliminate the preferential tax treatment of the popular retirement
plans. In place of 401(k) plans, she would have workers transfer their
dough into government-created "guaranteed retirement accounts" for every
worker.]
Wow.
From there your money will no doubt make a short trip to the general fundto pay for the Baby Boom entitlement debt bomb which is still ticking away.
I usually don't start OT topics, but this is insane.
We are all playing financial "head games."
This is not so much insanity as a paradox or problematique, where
two [or more] mutually exclusive things are derived from the
basic assumptions/first principals, and both appear to be "true."
It is generally accepted that perpetual motion machines where you
can extract endless amounts of energy are impossible, but it is
widely believed that financial "investments" that generate
endless amounts of wealth are not only possible, but also
commercially available [see your local mutual fund salesperson].
Examine closely what "savings," "money/capital," "investment,"
etc. means.
With a little thought it becomes apparent that these are circular
definitions, and at the level of the central banks and national
governments, it is impossible to "save" in the sense of amassing
a store of value, which can be spent at a later time, if for no
other reason than the general tendency of *ALL* assets to
depreciate to zero over time.
It is unknown at what point between the individual [where savings
and amassing of wealth appears possible] and the central
bank/national government [where savings and amassing of wealth do
not appear possible] the change occurs.
Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).
.
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- From: D Murphy
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