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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Amy J who wrote (26131)	12/17/2004 7:12:46 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

The Social Security system began in the desperation of the Great Depression. All people saved for their retirement in private accounts which were wiped out when the stock market crashed and most bonds defaulted. Life Insurance companies filed for bankruptcy and stopped paying annuities. Retired people were waiting in soup lines for their next meal. Now America proposes to trust their retirement to stock, bonds and annuities again, which will provide exactly the same results they provided in the last Great Depression. Australia learned from America's foolishness. They invest the money for their fully funded retirement system in infrastructure investments with low levels of debt. Even in a large economic depression Australia's investments in Toronto highways will still collect tolls, and Americans will still pay sewer fees to the Australian owners of their sewage plants, or get their homes foreclosed. In short Australia's retirement plan is invested in tangible things which will retain value and generate income in all economic environments. One the other hand, Americans have not learned from America's experience. They are doomed to endlessly repeat their previous mistakes like a moron stuck in a revolving door. Don't Americans have a choice? No! The sort of investments which make up the portfolio for Australian retirement money do not even exist in America! Common Sense has not yet hired any American lobbyists. But Short-sighted Greed has long employed thousands of top lobbyists. It's the American way. .