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The problem is that those on this list are only a very minute fraction of the population that wants to invest the time and energy to make their retirement accounts profitable. How many "normal" folks with regular jobs and families have the time to really research how to invest their money. Note how many ads in newpapers and on television now are pushing "financial advisors." How good will they be with your social security money? They haven't done so well the past three years, and since they can't short or sell the market, you have to wish and hope and pray for the market to go up. There's a lot of wishin and prayin going on right now for all those who hold EMC from $80 or AMZN from $113 or just about any stock from 3 years ago. Like Ira, . . . not with my money.
Kent Rollins <kentr@xxxxxxxxxxxxxx> wrote:
Your mindset is typical of the problem with government in this countrytoday. Somehow you think it is your responsibility to make sure everyonehas a good retirement. It isn't.And no one who advocates privatizing Socialist Security wants the moneyturned over to Merrill-Lynch or Goldman-Sachs. The plan for privatizationis for people to own and run their own accounts they same way they run IRA'sand 401k's. I own my 401k and IRA's. Should those be turned over to thegovernment?I've been doing pretty well with them especially when you compare it to thereturn from Socialist Security. Sure they have been down for the past 2years. But they were up for the 10 years that preceded that. And they willbe up in the future. And if they aren't, it's not your responsibility tomake up the difference.There is a certain group of Democrats in Congress who want to put SocialistSecurity money into the stock market and still have it run by thegovernment. THAT I totally oppose. That would be the camel's nose into thetent on having government control over corporations. Certain Democratscrave that.You said it best yourself: "I have never seen anything that the governmentdoes end up with a benefit for the people it is supposed to govern." That'swhy I want to control my "social security" money.Kent----- Original Message -----From: "ira" <mr.ira@xxxxxxxxxxxxx>To: <realtraders@xxxxxxxxxxxxxxx>Sent: Saturday, November 09, 2002 10:20 AMSubject: Re: [RT] One dummy down, more to go....The stock market is no place for social security investment. What wouldhave happened to the pool the last 3 years? How do you think those onsocial security would like a 30% cut in there income. Many would be livingunder bridges right now. If you were 70 to 75, no social security, dependedupon your assets to live on, how much of your assets would you have in themarket? Consider that the majority of the investment geniuses are losingmoney and have been in any market except a one way up market. Who wouldthey get to run it? Some idiot from academia, an economist or someone witha lot of letters after their name. Then they would proceed to lose theequity and blame everyone and everything but themselves. There are 800 +/-in this group and I would be willing to bet that there is less then 20%that can consistently make money and the rest are trying to glean a way todo it.In the financial statements of the big brokerage firms. I don't believethat any of them made anything in their trading accounts. Look at the firmsthat do billions of dollars worth of business in their own arena and theirinvestment accounts are all suffering.The first thing that the government would do is what they did with IRAs andretirement accounts and say that you can't own puts, you can't short, youcan't do anything that would allow anyone to think that stocks could go downand hedge against it. You are a traitor and un-American if you bet againstthe stock markets rise. Sorry didn't mean to get carried away, but I havenever seen anything that the government does end up with a benefit for thepeople it is supposed to govern. Look at the congresses retirement packageand look at ours. Look at who benefits from most of the legislation. Thelobbyists with the most money to wave around get their clients the laws thatbenefit them. If Merrill or Goldman lobbied hard enough, who do you thinkwould end up managing Social Security? Not with my money.----- Original Message -----From: "dom1_1998" <dominick@xxxxxxx>To: <realtraders@xxxxxxxxxxxxxxx>Sent: Friday, November 08, 2002 7:43 PMSubject: Re: [RT] One dummy down, more to go....> Hi Ira:>> Privatization of Social Security does not have to be a disaster.> Limits to what one can invest in and percentages can be in place to> protect the investor.>> For ex:> - Limit of 30% of SS for investing.> -Investment products are limited to CD's,Treasuries, Spy, QQQ and DIA.> -up to 100% in Treasurys and CD's> -up to 25% in any of the other products.>> No mutual funds or brokers are favored, no money managers and no AMTRAK.>> Dominick>>>>>>> --- In realtraders@xxxx, "ira" <mr.ira@xxxx> wrote:> > Privatizing Social Security would be a disaster. I don't want some> slick> > Enron or Anderson type exec. handling anything I could depend on. The> > government is bad, but most privately run agencies are a disaster. With> > luck Social Security could be lucky like Amtrac> > ----- Original Message -----> > From: "Kent Rollins" <kentr@xxxx>> > To: <realtraders@xxxx>> > Sent: Friday, November 08, 2002 5:43 PM> > Subject: Re: Re[2]: [RT] One dummy down, more to go....> >> >> > > Exactly what is so bad about W's economic team? I would like to> hear some> > > specifics from Simms and Johnson. Specifics.> > >> > > They got a massive tax cut though a Democratic Senate and they are> working> > > to make them permanent and enact some more. They are working to> privatize> > > Socialist Security. They are working to expand free trade.> > >> > > Those are positives. What are the negatives?> > >> > > Kent> > >> > >> > > ----- Original Message -----> > > From: "Jim Johnson" <jejohn@xxxx>> > > To: "M. Simms" <prosys@xxxx>> > > Cc: <realtraders@xxxx>> > > Sent: Friday, November 08, 2002 8:29 PM> > > Subject: Re[2]: [RT] One dummy down, more to go....> > >> > >> > > Hello M.,> > >> > > I do agree with you that W's domestic team, esp the econ team, is weak> > > and ineffectual. I hope he cleans house for the good of the US and his> > > administration. But your assessment of there pressure on W is wishful> > > thinking. He is bullet proof for longer than 6 months. The Pitt> > > resignation would have had more political advantage for Bush had it> > > been done the <day before> the election. It would have shown W to be> > > concerned about corp corruption and all that blather the libs spout.> > >> > > In my opinion W is perfectly situated for re-election. Market has> > > declined in first two years, rates get slashed. year 3 of election> > > cycle clicks in soon, maybe already. market rallies into Nov, 04.> > > Dem's will put Pelosi in as minority leader. she will embarrass the> > > Dem's every day. Gray Davis will be a persona non grata by Nov, 04> > > and W will attempt to retake California. Dem's are already switching> > > parties in the Georgia house. This looks to me like a replay of> > > Reagan's reign--tax cuts, economy pops, deficit that doesn't really> > > matter> > >> > > W's vulnerability is that the economy is so broken it won't respond> > > normally or there's another terror incident that can be traced to> > > missteps of his administration.> > >> > > that's my wishful thinking :)> > >> > >> > > Best regards,> > > Jim Johnson mailto:jejohn@xxxx> > >> > >> > >> > > To unsubscribe from this group, send an email to:> > > realtraders-unsubscribe@xxxx> > >> > >> > >> > > Your use of Yahoo! Groups is subject to> http://docs.yahoo.com/info/terms/> > >> > >>>> To unsubscribe from this group, send an email to:> realtraders-unsubscribe@xxxxxxxxxxxxxxx>>>> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/>>To unsubscribe from this group, send an email to:realtraders-unsubscribe@xxxxxxxxxxxxxxxYour use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/To unsubscribe from this group, send an email to:realtraders-unsubscribe@xxxxxxxxxxxxxxxYour use of Yahoo! Groups is subject to the Yahoo! Terms of Service. Do you Yahoo!?
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