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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Zeev Hed who wrote (3018)	2/16/2001 10:35:06 AM
From: Hawkmoon	Read Replies (2) of 3536

Ok.. fine... tell people they must have 50% in bond funds and the rest in something else. They will still generate more capital in this manner than the SS system would. And their's would be a hard asset that could be inherited upon their death. That's genuine wealth creation. But the way the system is working now Zeev.. these guys are just adding the surplus revenues to the government budget and popping 20 year T-bills in the SSTF. They are taking the money being set aside to fund SS in the future and spending it today. So if the economy goes to hell in a hand basket, UNDER BOTH SYSTEMS, people are still going to be facing tough times. The wealthy will be less wealthy as their stocks decline. Those middle class families who thought they had a retirement plan, may not find themselves on govt assistance. After all, during the worst of times, the govt is always the entity that is there to insure people don't go hungry. But the current SS system as it stands may open the US up to massive inflation and a weakening currency should we not be economically strong enough to finance the boomer's retirement. Bottom line.. the system is not safe, or sound, as it currently stands. Building a retirement system on a foundation of governmental obligations (eventually requiring higher taxes) is the wrong path to sustained prosperity. IMO, remaining with the status quo is stupid... Regards, Ron

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