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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (3021)	2/16/2001 12:54:48 PM
From: Fiscally Conservative	Read Replies (2) \| Respond to of 3536

Question: What percentage of the American public is better off than they were 15 years ago as from the direct consequence of having invested in the private sectors,aka the stock market? How many really have more disposable income? How many people do you know who have done wonders with their retirement funds? The current obligations derived from SSTF still leaves all the American people responsible for solvency and liquidity ten,twenty or thirty years from now. The consequences of a privately managed fund self-directed by his/her owner is not known,but at the same time,could leave our children in a serious spot down the road. How many Americans are astute about investing as raising children,or do I have that backwards? :) If your talking Global Capital Markets,currencies or whatever relates;how much water can we squeeze out of a sponge before the the sponge starts asking us for a drink? But..what do I know

To: Mike M who wrote (3021)	2/16/2001 12:59:36 PM
From: Hawkmoon	Respond to of 3536

Well, in essence the Federal Government, by forcing us to pay high tax rates into the FICA system, IS FORCING the American public to save for retirement. A retirement that the government, and thus, future taxpayers, will have to finance from outlays, or deficit spending in the future. Taking that money and placing it in personal saving accounts structurally protected until an individual's retirement, but mandated and supervised by the government, is a better, although not perfect, alternative. Additionally, it will greatly assist in lowering the cost of capital for the private economy as this money is invested in private hard assets (debt, equity, real estate.. etc) than in government obligations that will require additional money in the future to be drawn from the private economy in order to finance them. In my opinion, and in retrospect because even I didn't think this way 8 years ago, we have missed a golden opportunity to make a great proportion of the American public much more wealthy upon retirement they will be under the current system. Regards, Ron