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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Beobe who wrote (5085)	2/23/2010 8:44:20 AM
From: Boca_PETE	1 Recommendation Read Replies (1) \| Respond to of 10065

The retirement accounts you have accumulated over your working life through your hard work are entirely your assets - part of your estate. When you pass on. they can be passed on to your heirs or donated to the charity of your choice. If the government mandates that it now owns your retirement accounts and is instead giving you a guaranteed stream of monthly payments in the form of an annuity for your remaining lifetime (A PROMISE TO PAY A FIXED MONTHLY AMOUNT"), then the amount of your retirement accounts becomes an ASSET ON THE GOVERNMENT'S BOOKS available for government spending the way they see fit, not the way you see fit. YOU LOSE CONTROL OF YOUR RETIREMENT ACCOUNT ASSET. Moreover, if after this exchange of your retirement account asset for a government promise to pay, the government proceeds to continue to spend more than it takes in and prints huge amounts of currency to pay off those government created debts, the currency you get with each future monthly payment will buy less and less due to inflation. As the government will own and control your retirement account asset, you will have no ability to adjust how your retirement asset is invested - to ability to invest it in an inflation hedge. Thus resulting inflation would lower your standard of living as your fixed monthly payment bought less and less of the the goods and services you consume. Naturally a despirate government gone wild seeking to coax the public into accepting an exchange is going to present it in a suger coated way so as to cause a minimum of protest. That such a despirate measure is even being talked about within the current administration is a sign of bad times ahead for America. Despirate economic times often generate despirate measures, including despotic leaders and dictators. This is a serious issue - nothing to be glib about! P