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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 454.39+6.4%4:00 PM EST
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To: Follies who wrote (111330)3/18/2015 2:16:39 AM
From: Elroy Jetson1 Recommendation   of 219981
 
In 1937 most older Americans had lost most of all of retirement savings in the collapse of the stock and bond market and subsequent bank failures, and lost 0their pensions as many former employers became insolvent.

If we had a "privatized" Social Security system in the 1930s, FDR would have still have needed to create the Social Security program as we know it today to prevent widespread poverty and starvation among older Americans as their "privatized" Social Security would have lost nearly all value as well.

When America created the current Social Security program in 1935, it was one of the last industrialize nation to do so. Virtually all of Europe had long had Social Security programs, beginning with Germany in 1889. Medicare adopted by Lyndon Johnson in 1965 was likewise introduced in other nations many decades prior to the creation of Medicare in America. Many Americans have not lived in foreign nations, so they have no idea this is the case.

FDR's Social Security and Lyndon Johnson's Medicare program is an important insurance for Americans, like those who lost much of their retirement savings in banks stocks in 2008 following our catastrophic post-9/11 real estate bubble.

The elderly have a very tough time in China, just as they do in Putin's Russia. If the Chinese state wants to build on the home of elderly Chinese living in an old village, they are typically told to move out without compensation or and without alternate housing. China is a dictatorship and there's no compelling reason for Americans to attempt to emulate the human rights abuses suffered by the elderly in China. When Republicans tell you they need to treat you like a Chinese peasant to have a prosperous economy. Just tell them to fuck-off and die.
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