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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (211163)	12/10/2012 1:52:18 PM
From: Wharf Rat	Respond to of 541863

"YOUR money is working in your 401k." My money is working in the SSA. It's invested in the USG, which is spending it on solar panels on military bases. Some other old fart's money is invested in building ammo for drones. Told them they couldn't do it with my money, which is for growing. Then I told the SSA to buy a mess (1000 bunches to the mess) of very long Zeros, when they were paying about 16%. Then I said, "Oh, hell, do what you want with it; yer paying plenty to use it." "If the market collapsed, it (401K)could dramatically shrink." No shit? Then it's a damn good thing my SS money is invested in the USG, which has survived many crashes. I believe it will outlive the NYSE. When it collapses, I'll see if I can remember where I hid the map of the Lost Rat Mine, and then I'll have to figure out how to get my great great greats to notice that there is a drunk ghost sitting in the corner with an empty bottle and a scrap of paper. "The only money it made was on the interest from the money it loaned the government when they borrowed it, a paltry point or so of interest." A rather paltry 4.4% last year. Better than my safest retirement "capital preservation", which is paying about 3.25%. Income including interest to the combined OASDI Trust Funds amounted to $805 billion in 2011. ($564 billion in net contributions, $24 billion from taxation of benefits, $114 billion in interest, and $103 billion in reimbursements from the General Fund of the Treasury—almost exclusively resulting from the 2011 payroll tax legislation.) en.wikipedia.org