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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: clochard who wrote (115949)	1/29/2016 12:18:28 PM
From: Pogeu Mahone	Respond to of 217847

To: clochard who wrote (115949)	1/29/2016 1:35:50 PM
From: Elroy Jetson	1 Recommendation Recommended By Fiscally Conservative Read Replies (2) \| Respond to of 217847

Many prefer the more traditional free-market outcome of an economic depression. a.) Traditionally retirees lost their savings when the banks failed. b.) I have a thick pile corporate bonds owned by a great aunt. On all of them the coupons stopped being clipped in the 1930s when the railroads and other major companies backing the bonds became insolvent and filed for bankruptcy. c.) Those invested in stocks lost 95% of their savings. d.) Many people who owned investment real estate debt-free could not obtain rents sufficient to pay for their property taxes, so lost their properties in tax sales. e.) Those who owned gold were luck because the government confiscated their gold in return for cash, as we were still on the gold standard. Today without the gold standard, the price of gold would have collapsed along with the price of all other assets leaving these retirees with nothing to live on. The catastrophes quickly led to the creation of monthly Social Security payments to prevent mass starvation of the elderly. All schemes to "Privatize" Social Security with market investments would simply lead to the same loss of all retirement income the elderly experience in the 1930s. Much like the bait-and-switch scheme Ronald Reagan implemented when he spent Social Security tax revenue on income tax reductions for the wealthy.