Raiding Your Retirement Funds
A very real possibility is an attempt by the US government to convert your retirement savings from IRAs to Social Security-like returns by investing in government bonds. Jeffrey Folks examines
this possibility. Do you think this is impossible? It has already been tried once here in the United States and it was done in Cypress. They just physically took saved money away from the people. Even worse, here in the US, the government has set up the bureaucratic systems to implement such a plan. All they need to do is conclude that stocks and mutual funds are too risky for private people and thus force people to put their money into "safe" government bonds. The only problem is that the return is pitiful and the US government debt might easily bankrupt the country. Bondholders in GM got the shaft and likely government bondholders would too.
There is just no limit that money-starved politicians and bureaucrats will go to feed the ugly beast. Taking of private property is supposed to be protected by the government; instead it is the big thief. The author presents data that shows private investment returns are about 2000 times greater than Social Security returns. Think government is protecting your assets? Nope, it is stealing them.
More Support For Government Theft
If the moves to tax capital in the United States aren't enough, the IMF joins the bandwagon to propose such a system world-wide. Ahlert reveals the details
in a fine article.
Obama: Same Old Ideas That Never Work
Larry Kudlow says that Obama
is just bringing up his old ideas and those of Democrats of the last few decades. To them, equality of outcome is more important than economic growth. The result? Everyone is equally poor. People are not equal. Some are smarter than others, some have more ambition, some have better physical characteristics. The best we can do is to give everyone an equal chance at success. But when you try to make outcomes equal, you necessarily have to take from some and give to others, that principle is known as redistribution. Obama never waivers from this nonsense which we first saw when talking to Joe the plumber.
U.S. Unemployment Falls To Five-Year Low Of 7
Percent; 203K Jobs Added
The nation’s unemployment rate last month fell sharply from 7.3 percent to 7 percent, the lowest in five years, as businesses added another 203,000 jobs, the Labor Department reported Friday morning.
Nothing to crow about, and why did it take five years? Because of government meddling with the economy. With high taxes and deficit spending, this is the result you would expect. Continued doldrums.
Krauthammer: America's Allies Abandoned By
Krauthammer reviews three separate foreign policy
regions where Obama has let down our friends. The first is Ukraine for which we also have a separate article
today. The second is the Mideast to include particularly Israel. And the third is Japan where we took the correct first step of overflying disputed islands claimed by China but later told American airlines to abide by China's demands. Not only is Obama weak, but everything he touches in foreign policy is the wrong policy.
Nelson Mandela, South Africa’s First Black
President, Dies At Age 95
Nelson Mandela, who spent 27 years in prison for his armed militancy against South Africa’s apartheid regime only to emerge as a global icon for peaceful resistance and become his nation’s first black president, died Thursday in Johannesburg after a long illness. He was 95.
World Mourns Nelson Mandela And Celebrates
His Life; Burial Set For Dec. 15
The president of South African said Friday that Nelson Mandela’s body will be taken to his ancestral village of Qunu where he will be buried on Dec. 15 alongside three of his deceased children.
Visiting The World Of Nelson Mandela
Nelson Mandela, at age 95, lost his battle with a long illness contracted during his years of confinement — with 27 years in a prison cell, 18 years of which were on South Africa’s Robben Island.
‘Ice Friday’ Bears Down On Texas, Much Of
As Texas residents prepared for what one hardware store manager called “Ice Friday,” schools started canceling classes and thousands of shoppers jammed store aisles to buy milk, pet food and other supplies.
Bill B. May brings you a new book, The Caveman Explores Politics and Economics, explaining the intricacies of economics.
Learn how politics and economics interact to negatively impact society.
Politicians react to deficits by raising tax rates to cover spending.
They also print money to supposedly boost the economy.
Find out why these methods don't work and why opposite measures should be the course of action.
Become an informed citizen and read this book.