So, RightField, you want to privatize Social Security?

[LJ_Reloaded]

What will old people retire on when this happens to their savings?

http://www.huffingtonpost.com/2011/08/10/stock-market-us-economy_n_923646.html

Stock Market Losses Threaten Economic Recovery As Household Wealth Takes Another Hit

With consumer spending already declining in recent months, economists say the plunge in the stock markets over the past month could deal another significant blow to Americans' spending habits -- a threat that could imperil any meaningful economic recovery.

As trillions in household wealth has been erased over the past month, the psychological impact of large sell-offs extends from the wealthiest consumers to anyone with a retirement or pension plan tied into the markets.

"Most people aren't interested in finance on a day-to-day basis, but all of a sudden they become quite fixated on financial issues when they see either large losses or large gains in their portfolios," said Andrew Lo, a finance professor at MIT's Sloan School of Management. "That kind of perception of a loss in wealth is going to make people more frugal, more reluctant to spend -- and that's exactly the wrong direction for the economy to go."

 

[RightField]

I haven't brought up social security for a long time. What in the world are you talking about?

 

[RightField]

I haven't brought up social security for a long time. What in the world are you talking about? This loss of market valuation is a logical result of "spread the wealth", huge deficit spending and printing money.

 

[Very_Bad_Man]

How many times has the Feds borrowed monies from the SS Fund ?

 

[garbage can]

What will old people retire on when this happens to their savings?

http://www.huffingtonpost.com/2011/08/10/stock-market-us-economy_n_923646.html

Stock Market Losses Threaten Economic Recovery As Household Wealth Takes Another Hit

."

If SS was privatized and turned into a partial 401k plan, as Bush wanted, everyone would be better off.

Don't give me any stock market bullshit, you'll make yourself look stupid.

Everyone is into IRA's or 401K's as their retirement option.

Anyone who thinks SS will give them a comfortable retirement is smoking dope.

 

[LJ_Reloaded]

If SS was privatized and turned into a partial 401k plan, as Bush wanted, everyone would be better off.

Don't give me any stock market bullshit, you'll make yourself look stupid.

And you look like a fucking retard when you discount the effect of TRILLIONS of dollars being wiped out, on the value of one's 401K or IRA.

 

[LJ_Reloaded]

I haven't brought up social security for a long time. What in the world are you talking about? This loss of market valuation is a logical result of "spread the wealth", huge deficit spending and printing money.

You're a Republican. All Republicans are for privatizing Social Security.

 

[lustatopia]

And you look like a fucking retard when you discount the effect of TRILLIONS of dollars being wiped out, on the value of one's 401K or IRA.

Reload, you have told us that you're a millionaire. You told us you sell annuities. You told us just yesterday you're an upper-middle class business man.

Well, I have a little hobby. I trade stocks. A couple of months ago I unloaded (no pun intended) most of my shares and took up a number of short positions, which I covered yesterday.

Now I am considering going long on on a number of mutual funds and individual stocks tomorrow morning, unless the markets continue slip further. I think this might be the biggest fire sale since 2008.

I was wondering in light of your market bearishness, whether you think it's a good idea to buy into the market at these levels, or whether you think the market will continue to crash further?

After all, as a millionaire you would be privy to some pretty savvy market advise from a team of investment bankers.

Care to share?

 

[Ham Murabi]

Seems like a poor time to brag about Social Security being rock solid, what with Obama not even able to guarantee the checks would go out until there was a deal to increase U.S. debt.

 

[Jagged]

I thought everything was going to be wonderful when the liberals took charge....I mean you said so and all. Oh wait they aren't liberal enough right?

 

[Sean Renaud]

I thought everything was going to be wonderful when the liberals took charge....I mean you said so and all. Oh wait they aren't liberal enough right?

The Republicans blocked EVERYTHING. So at the very least we have no idea what would happen if the liberals took charge and can't claim that we do.

 

[Jagged]

The Republicans blocked EVERYTHING. So at the very least we have no idea what would happen if the liberals took charge and can't claim that we do.

Sean you're right. The Republicans are at fault. So let's look at places run by liberals....New York state highest taxes in the country and driving people out. Okay that's not fair. Louisiana they have a fine Democrat tradition. Well aside from neglect of the infrastructure, corruption, and horrible handling of Katrina on a local level (NOT GIVING THE PRESIDENT A PASS HERE BTW) they run the state great. How about California soon the only people living there will be the illegals and those on welfare.


You need a balance and neither party is working together to find it...it's either one plan or the other not developing one together to solve any of our nation's serious issues.

 

[Sean Renaud]

Sean you're right. The Republicans are at fault. So let's look at places run by liberals....New York state highest taxes in the country and driving people out. Okay that's not fair. Louisiana they have a fine Democrat tradition. Well aside from neglect of the infrastructure, corruption, and horrible handling of Katrina on a local level (NOT GIVING THE PRESIDENT A PASS HERE BTW) they run the state great. How about California soon the only people living there will be the illegals and those on welfare.


You need a balance and neither party is working together to find it...it's either one plan or the other not developing one together to solve any of our nation's serious issues.

First all I said was they blocked everything. We have no way of knowing what would have happened if the liberals had actually gotten their agenda through. We can scream as several soon will that it would have been doom and gloom but but we don't KNOW.

I'd love to see the stats on who and why they are moving out of New York. I've heard this debate and honestly I don't buy it as the soul cause. I know enough New Yorkers to know that living their is and always has been sky high. Hell there's a reason people live in Jersey and commute. So without more evidence I call that anecdotal.

By all means talk shit about Louisana. I'll give the former President a free pass on it except for the part where he lied. Other than that he did what he should have done. He told the governor and mayor a carte blanche "you want it you got it" and the locals fucked up. The entire south has shitty economies and similar corruption and honestly there isn't much to prove that all politicians aren't corrupt.

California. LOL. They'll be lots of people here for a good while. It's only a matter of if we continue to allow tax cheats or not. If not we'll just see a bunch of new businesses opening up but just go get yourself a little map, ideally an electoral map. Now tell me where ELSE is China and everybody this side of Africa gonna ship their goods to the US? We have our problems, most of them are self inflicted but trust me we'll be here. It's too bad we're cowards and won't simply do what New York and Texas should do. Tell the US government to bail us the fuck out so we can get back to work running the US. There are effectively 3 states that run the US and 47 that mooch, when Daddy Warbucks asks you to donate your allowance you don't bitch, cus he's not Momma Freeloader. Daddy Warbucks needs between the three of us about 200 Billion. Just dump it on us and shut up while we unfuck things.

 

[mercury14]

Sean you're right. The Republicans are at fault. So let's look at places run by liberals....New York state highest taxes in the country and driving people out. Okay that's not fair. Louisiana they have a fine Democrat tradition. Well aside from neglect of the infrastructure, corruption, and horrible handling of Katrina on a local level (NOT GIVING THE PRESIDENT A PASS HERE BTW) they run the state great. How about California soon the only people living there will be the illegals and those on welfare.


You need a balance and neither party is working together to find it...it's either one plan or the other not developing one together to solve any of our nation's serious issues.

I love the this moronic logic. NY has a STABLE population. Let's look at a correlation between tax rates and no population growth and willfully confuse it with causation, shall we?

What's that? Red state Ohio which always has a republican senate, house, and governor (27/31 years) is stagnant? The population in Ohio grew 1.6% compared to the national average of 9.7% according to the last census. Um... It's not because of conservative policies that reign unchecked through the state. Let's change the argument and say that politics has nothing to do with population shifts in red states. At least until we're talking about a blue state again!

http://www.usatoday.com/news/nation/census/2011-03-09-ohio-census_N.htm

 

[mercury14]

So without more evidence I call that anecdotal.

Day in and day out, conservatives here swear that anecdotes are proof. They'll never learn.

 

[lustatopia]

First all I said was they blocked everything. We have no way of knowing what would have happened if the liberals had actually gotten their agenda through. We can scream as several soon will that it would have been doom and gloom but but we don't KNOW.

That's funny. You're just pretending to be stupid, right? Ha ha. Nah, we don't know what would have happened if the Liberals had controlled the house, senate and Obama was President because that never happened.

2008-2010 didn't happen. Nope. Never happened.

ROTFL.

(Actually, Bush is still in power. Well, not Bush, Cheney is pulling the strings. Bush is just the puppet. They operate out of a secret base beneath the WTC hole, which, btw they blew up)

 

[LJ_Reloaded]

Sean you're right. The Republicans are at fault. So let's look at places run by liberals....New York state highest taxes in the country and driving people out. Okay that's not fair. Louisiana they have a fine Democrat tradition. Well aside from neglect of the infrastructure, corruption, and horrible handling of Katrina on a local level (NOT GIVING THE PRESIDENT A PASS HERE BTW) they run the state great. How about California soon the only people living there will be the illegals and those on welfare.


You need a balance and neither party is working together to find it...it's either one plan or the other not developing one together to solve any of our nation's serious issues.

Let's talk about Alabama, where more than 1 in 3 people are on welfare. That's a red state, son.

 

[Jagged]

First all I said was they blocked everything. We have no way of knowing what would have happened if the liberals had actually gotten their agenda through. We can scream as several soon will that it would have been doom and gloom but but we don't KNOW.

Isn't Nazi Germany what happens when socialist take control. Right sorry bad example you're thinking more Soviet style or what they have in China now? Or you're probably going to mention what that Europeans have...that whole loss of freedom, high taxes, and that healthcare mess.


I'd love to see the stats on who and why they are moving out of New York. I've heard this debate and honestly I don't buy it as the soul cause. I know enough New Yorkers to know that living their is and always has been sky high. Hell there's a reason people live in Jersey and commute. So without more evidence I call that anecdotal.

So you admit the cost of living is sky high, but that can't be the reason they're leaving.


By all means talk shit about Louisana. I'll give the former President a free pass on it except for the part where he lied. Other than that he did what he should have done. He told the governor and mayor a carte blanche "you want it you got it" and the locals fucked up. The entire south has shitty economies and similar corruption and honestly there isn't much to prove that all politicians aren't corrupt.

Ah a blank statement that the whole south sucks. Good one there.

California. LOL. They'll be lots of people here for a good while. It's only a matter of if we continue to allow tax cheats or not. If not we'll just see a bunch of new businesses opening up but just go get yourself a little map, ideally an electoral map. Now tell me where ELSE is China and everybody this side of Africa gonna ship their goods to the US? We have our problems, most of them are self inflicted but trust me we'll be here. It's too bad we're cowards and won't simply do what New York and Texas should do. Tell the US government to bail us the fuck out so we can get back to work running the US. There are effectively 3 states that run the US and 47 that mooch, when Daddy Warbucks asks you to donate your allowance you don't bitch, cus he's not Momma Freeloader. Daddy Warbucks needs between the three of us about 200 Billion. Just dump it on us and shut up while we unfuck things.

I see well you didn't get my point at all. States have their own responsibility and it seems that California with one of the largest economies in the world is falling apart under liberal rule. Your solution more government involvement. If it isn't working why fix it...right. Just throwing this out there, but maybe a change of coarse is in order. Last governor didn't do a enough and I doubt you all will learn.

 

[Jagged]

Let's talk about Alabama, where more than 1 in 3 people are on welfare. That's a red state, son.

Well bitch, don't call me son we can talk all you want about it. I'm saying both sides need to work together for solutions. I don't think our system would work with just one party though I've met many liberals who think so. Changes need to be made and government isn't always the answer.

Frankly I think the federal government should handle national defense and the post office...but I realize we can't cancel programs right away. We have to scale back and make sure people are take care of even if that job turns to the states.

 

[Jagged]

Day in and day out, conservatives here swear that anecdotes are proof. They'll never learn.

Yes after liberals stop making emotional arguments about things.

http://online.wsj.com/article/SB10001424052748703574604574499772371161800.html
http://www.nypost.com/p/news/local/item_qb4pItQ71UXIc0i6cd3UpK
http://www.empirecenter.org/pb/2009/10/empirestateexodus102709.cfm

 

[Jagged]

I love the this moronic logic. NY has a STABLE population. Let's look at a correlation between tax rates and no population growth and willfully confuse it with causation, shall we?

What's that? Red state Ohio which always has a republican senate, house, and governor (27/31 years) is stagnant? The population in Ohio grew 1.6% compared to the national average of 9.7% according to the last census. Um... It's not because of conservative policies that reign unchecked through the state. Let's change the argument and say that politics has nothing to do with population shifts in red states. At least until we're talking about a blue state again!

http://www.usatoday.com/news/nation/census/2011-03-09-ohio-census_N.htm

I see Ohio mentioned and great, but where is your proof on NY. I love morons so I talk to liberals. It's funny since they all think they're smarter than the rest of the population. It would be cute if your ideas didn't ruin countries. You need both points of view to hammer out sound legislation. Some ideas are just totally insane though.

 

[lustatopia]

Sean you're right. The Republicans are at fault. So let's look at places run by liberals....New York state highest taxes in the country and driving people out. Okay that's not fair. Louisiana they have a fine Democrat tradition. Well aside from neglect of the infrastructure, corruption, and horrible handling of Katrina on a local level (NOT GIVING THE PRESIDENT A PASS HERE BTW) they run the state great. How about California soon the only people living there will be the illegals and those on welfare.


You need a balance and neither party is working together to find it...it's either one plan or the other not developing one together to solve any of our nation's serious issues.

Jag you got a point.

For instance, the Texas' economy is a shambles after decades of Republican economic mismanagement. State pension fund is broke. State Income tax and over-regulation is driving businesses interstate mostly to California, Wisconsin and Ohio. The education system has failed. The state is almost bankrupt. Infrastructure is failing to pieces. Unemployment is soaring. Houston, Dallas and Austin property values have collapsed. The cities look like Detroit on a bad day.

It's a Republican hell hole!

OBAMA IN 2012. FOUR MORE YEARS OF GOD DAMN, GOD DAMN AMERICA.

 

[RobDownSouth]

If SS was privatized and turned into a partial 401k plan, as Bush wanted, everyone would be better off.

Don't give me any stock market bullshit, you'll make yourself look stupid.

Not necessarily. Should you have the misfortune to retire at the onset of a recession/depression, your portfolio would suffer as you began to draw down your fund while simultaneously being whacked by a down market.

 

[Jagged]

Jag you got a point.

For instance, the Texas' economy is a shambles after decades of Republican economic mismanagement. State pension fund is broke. State Income tax and over-regulation is driving businesses interstate mostly to California, Wisconsin and Ohio. The education system has failed. The state is almost bankrupt. Infrastructure is failing to pieces. Unemployment is soaring. Houston, Dallas and Austin property values have collapsed. The cities look like Detroit on a bad day.

It's a Republican hell hole!

OBAMA IN 2012. FOUR MORE YEARS OF GOD DAMN, GOD DAMN AMERICA.

You make and excellent point sir...lol

 

[CandiCame]

Reload, you have told us that you're a millionaire. You told us you sell annuities. You told us just yesterday you're an upper-middle class business man.

Well, I have a little hobby. I trade stocks. A couple of months ago I unloaded (no pun intended) most of my shares and took up a number of short positions, which I covered yesterday.

Now I am considering going long on on a number of mutual funds and individual stocks tomorrow morning, unless the markets continue slip further. I think this might be the biggest fire sale since 2008.

I was wondering in light of your market bearishness, whether you think it's a good idea to buy into the market at these levels, or whether you think the market will continue to crash further?

After all, as a millionaire you would be privy to some pretty savvy market advise from a team of investment bankers.

Care to share?

I have NO IDEA what any of this means! Please don't put me in charge of my own retirement! I better fucking die young like I planned or I am going to be FUCKED! I seriously really don't wanna be in charge of my own retirement; and I think that there are a lot of people as dumb as I am when it comes to this shit. Where/how/why does one buy stocks? Do you really get any money back?

A friend of mine works for Wal-mart and they give all their employees stock- I can't help but think that's a good investment because Wal-Mart is one of the biggest companies ever...

What's a "mutual fund" and what's the difference between it and a "stock"?

Can someone please start a thread entitled, "How to teach poor motherfuckers how to win at capitalism?" Because I'm seriously struggling to pay my rent and some of you folk obviously know what you're doing and how to make money. But I don't have anything to invest with, so I need to know how to get that first... I really would love to learn this stuff. I'm really good at math, I can do any figuring that I need to, I just don't know the practical side of it.

Let's talk about Alabama, where more than 1 in 3 people are on welfare. That's a red state, son.

Is this true? Because I couldn't find a single gas station anywhere in that damn state that would take food stamps. I had a really bad time in Alabama. Not just because of that, but I did all most starve because I couldn't find ANYWHERE that would take foodstamps. We finally had to pay for food with MONEY, like ANIMALS, and that was at a Lees that served the most disgusting pulled pork I've ever smelled/seen. We were gonna get the buffet but couldn't stand the smell so we got our food to go, and my best friend LOVES pork, he kept saying he understood why I (someone who would be a vegetarian if not for peer pressure) didn't like it, but it should've been delicious to him!