Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: AC Flyer who wrote (21646)	7/25/2002 9:28:37 AM
From: Don Lloyd	Read Replies (1) of 74559

AC, How do you suggest that social security should work, Don? >>Nothing in the trust fund can reduce possible future requirements as may occur for new taxes, new borrowing or reduced benefits.<< I agree 100%. Again, how do you suggest the system should work? The government can not "save" in any meaningful sense as the only instruments with which it can "save" are government IOUs. It can't work. Competitively bid private annuities individually owned are the only likely candidate for a savings instrument, and it would be touch and go if government and taxes can be cut enough to allow the economy to have enough real savings and profits to support them long term. Regards, Don

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