Re: Harry Reid Shopped in Green Valley

And a couple of other things............

How quickly we forget that just a couple of years ago what was once
considered a super safe "investment", money market funds, were on the verge
of breaking the dollar and going kaput. If the Fed hadn't stepped in they
were all at risk of suffering the equivalent of bank runs. Even if they
never do break the dollar, how does one accumulate enough money while you
earn less than one percent interest per year to ever retire? You don't.

And what happens when you have a stroke at age 50 and have to retire? What
if the Dow is at 6500 like it was a couple of years ago when you have to
start taking money out to live on? What if the bond market goes in the tank
for 5 years? What happens to the people who have little or nothing when
they hit retirement age because the various markets have all seen steep
multi-year declines in the years before they retire?

Look, old people need a basic safety net they can count on so they all
aren't wandering the streets in their bathrobes dumpster diving. Sure,
most people risk some retirement money in the markets already, but they know
they can at least buy food and pay rent on a cheap apartment if they lose
that money because they can count on a SS check. Requiring them to give up
that basic safety net and hand EVERYTHING over to Wall St money managers so
they can gamble with it is just plain ridiculous.

O








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