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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (217068)	2/3/2005 10:20:50 AM
From: combjelly	Read Replies (1) \| Respond to of 1571172

"Having a flat to down market for 30++ years from any given point in time is certainly not beyond my imagination." It is not like that has never happened. Remember when the big question was "will the Dow ever top 1000"? And that was in the lifetimes of anyone over the age of 25...

To: Road Walker who wrote (217068)	2/3/2005 1:45:22 PM
From: Joe NYC	Read Replies (2) \| Respond to of 1571172

John, Having a flat to down market for 30++ years from any given point in time is certainly not beyond my imagination. Especially for a country with record public and private debt, and record current accounts deficits, all at the same time. What do you think the chances are that the retirees would get paid from the payroll taxes during a 30 year period of market decline? It would be a very different country from what it is today, and the first debths that would be repudiated would be the soft debts such as the unfunded SS liabilities. With a single vote in Congress, the promises to future retirees can be wiped out. If you are about to retire, Congress can say you get nothing on the day of your retirement. On the other hand, if you have a private account, money belongs to you. Joe