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To: marek_wojna who wrote (73765)	7/21/2001 9:36:42 PM
From: d:oug	Read Replies (3) \| Respond to of 116834

"... we yet have to see if this new world without justice, truth and morality but filled with everybody obsessed about money and profits (message spread out with the speed of light) is about to survive." Marek, It will survive just as it has many times in the past. There will be winners and losers. Most winners will be the bad guys, many of which were directly responsible for any destruction. Most all losers will be good folks that were forced by the bad guys to receive and carry the pain. Few good guys are able to withstand the destruction, as these first have to be willing and able to met the enemy, be it a bag guy or a good guy mis-informed and/or incorrect, and fight for their & loved ones survival. Hutch, Rarebird, ole49r, longone Richard etc will survive, no problem, and most other very good folks will receive the pain and accept it and deal with it and go to church more often. battles between good & evil its a war with no ending or if there is an ending, evil will win as that is the nature of the beast called think or lose and mankind was given the first choice of all living creatures, to think and they have choicen in great number for self-destruction thoughts ak

To: marek_wojna who wrote (73765)	7/22/2001 11:35:26 AM
From: long-gone	Read Replies (1) \| Respond to of 116834

Here also comes the greatest market decline of all history(as the market investments of the baby boom are withdrawn after retirement): LA Times By ROBERT A. ROSENBLATT WASHINGTON -- President Bush's Social Security Commission will embark on an aggressive campaign to demonstrate that the giant retirement system is headed for financial trouble in 15 years and needs a thorough overhaul, according to a staff report issued Thursday. "The system is broken," declared the commission's co-chairmen, former Democratic Sen. Daniel Patrick Moynihan of New York and Richard D. Parsons, co-chief operating officer of AOL Time Warner, in the report's preface. "Unless we move boldly and quickly, the promise of Social Security to future retirees cannot be met without eventual resort to benefit cuts, tax increases or massive borrowing. The time to act is now." The staff report represents an initial step in the commission's strategy for generating support for allowing workers to set up private accounts with some of their payroll taxes. The public first needs to be convinced that the system as it has operated since its creation in 1935 is on the road to financial ruin; that, the commission hopes, will put people in a frame of mind to accept the huge shift to partial privatization of Social Security. The full commission will consider the report at its meeting Tuesday. The interim report's strong tone drew an immediate challenge from Democrats and the politically powerful AARP, whose 33 million members make it the largest force in the influential seniors' lobby. Bush and his commission "are trying to pit younger generations against retirees," said Rep. Robert T. Matsui (D-Sacramento), his party's leading spokesman on Social Security. "They are trying to say Social Security is in shambles . . . and they are unnecessarily frightening young people." John Rother, the AARP director of public policy, said the staff report "has taken every opportunity to hype the problems that Social Security faces and has ignored completely the problems that are raised by partial privatization." The somewhat strident rhetoric of the report as well as its critics is just the opening salvo in what promises to be a major political clash this year and next over the future of the system that sends retirement and disability checks every month to 44 million Americans. Congress is not expected to take any action on this issue, but President Bush is hoping the commission will generate public support for his privatization plan. Individual accounts would allow workers to take personal control of some of the payroll taxes they now send to Washington. The money would be invested in a selection of mutual funds that could generate a better return for their retirement, according to the Bush administration. With individual investments, the staff report said, Social Security could become "a means of wealth accumulation and long-range investment, giving families resources they never had before, and widening the circle of Americans fortunate enough to pass on the accumulated results of their investments and hard work." The report says that Social Security's cash deficits will begin in 2016, when the money it pays out in benefits will exceed the funds it collects from workers as payroll taxes. "For a person who is 50 years old today, Social Security will begin experiencing financial difficulties just when he or she reaches retirement age," the staff report said. However, Matsui said this analysis is an alarmist one and cited the large portfolio of U.S. Treasury securities held by the trust fund. Long before 2016, he predicted, Congress will have decided on a bipartisan plan to assure Social Security's long-range solvency. He said President Bush should reach out to members of Congress to craft such a solution. (cont) latimes.com