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Old Yesterday, 09:33 PM
 
Location: Aurora Denveralis
5,575 posts, read 1,853,787 times
Reputation: 8359

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Quote:
Originally Posted by Quietude View Post
Did all of you just wander away from the "They're coming for our guns!" rants or something?
Quote:
Originally Posted by adjusterjack View Post
If you don't believe that, look what happened back in the mid 90s when the Democrats controlled Congress and passed serious gun control laws.
Quote:
Originally Posted by Ron61 View Post
Which is why the next Democratic President will use the powers of the “Executive Order” to enact serious gun control reform.
...apparently so.
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Old Yesterday, 09:51 PM
 
Location: Boise
589 posts, read 552,107 times
Reputation: 1272
I don't see it happening. Its a lot easier to print more money.

Inflation would happen of course.

A good strategy is to have a place paid for that you can grow or raise part of your own food. The skills and knowledge can take a few years to acquire, but can be free or low cost. It worked for both sides of my family during the great depression.
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Old Yesterday, 09:55 PM
 
Location: Olympus Mons, Mars
5,272 posts, read 8,276,746 times
Reputation: 5213
how the hell can the govt take 401k money? That is unconstitutional and theft of private property. They can of course change the laws governing 401k distributions and also raise the income tax which I think will absolutely happen. I also think some changes to Social Security will happen, raising of the retirement age, removal of the SS cap and some reduction of benefits for people who have had higher average incomes (adjustment of the the current bend points).

Biggest fear of course is if Social Security has an asset test, for example they say anyone with $1M or more in assets cannot get SS. I do not think this will happen but you never know. I think if they do a test it will be based on retirement income and that will be rather high. $1M in assets still does not generate that high of an income.
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Old Yesterday, 10:39 PM
 
50 posts, read 4,374 times
Reputation: 73
Not sure about 401Ks specifically, but I believe we will have some derivative of Cyprus-style bail-ins in the future. Bet the people of Cyprus never thought it would happen......
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Old Yesterday, 11:04 PM
 
4,909 posts, read 4,926,574 times
Reputation: 6233
If shortage of younger people is allegedly an issue, it is not quite clear how money, savings, 401k, etc. can resolve that. Money is just that, you can compound your savings into the sky but if the number of younger people' labor hours is below that required to take care of the old (the way it's done today) some geezers must be priced out no matter what . Luckily CD forums have plenty of social darwinian rationalizations to pick from.
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Old Yesterday, 11:15 PM
 
18,119 posts, read 12,841,790 times
Reputation: 13465
Quote:
Originally Posted by heart84 View Post
Not sure about 401Ks specifically, but I believe we will have some derivative of Cyprus-style bail-ins in the future. Bet the people of Cyprus never thought it would happen......
There’s nothing comparable between the US financial system and that of Cyprus
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Old Today, 12:05 AM
 
Location: SoCal
11,207 posts, read 5,426,054 times
Reputation: 7717
What is this ranting and raving about?
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Old Today, 02:41 AM
 
67,960 posts, read 68,771,184 times
Reputation: 45792
i guess they got tired of blaming the fed for everything and since we had no financial collapse they need a new topic to spread fears of doom .
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Old Today, 02:59 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
21,506 posts, read 38,543,578 times
Reputation: 21970
* Note *
*the government is not going to take the 401K funds

OK, feel better?

This will not happen (tho USA has plenty of problems) the SHIP is too big to fail (ezr, much more covert solutions which NO-ONE will realize / suspect until it Bites them! (done your 2018 taxes yet ))

So simple for US Gov to get what they want... they do not have to blatantly rob US! They have the printing presses and monetary policy!

As mentioned above...
Plan your strategy (based on current laws), then... adjust your strategy for future vultures (there will be plenty).

play the cards you are dealt.

Don't scream (That messes up the fun!)

It's all a game.

We are "All-IN!"

Play (plan) accordingly.

401ks have a purpose.. then... they do not!

ACT on that "before it is too late"
YIKES!!! Don't look up... the sky is falling (again).

(I have an advantage... one of my kid's has a great perspective (he works in a very high profile finance position))

He keeps a diary / script of a 'screen-play' about his employment & the 'sharks' / manipulators of the business.
The cast are all "Actors" and you learn to 'expect' how they will respond... from the bosses to the market makers... they all have a role / objective / director.

so...
It's all a game.

We are "All-IN!"

Play (plan) accordingly.


Retire Early, Retire often (more chances to 'recover' from 'The Game')
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Old Today, 03:41 AM
 
2,424 posts, read 1,547,294 times
Reputation: 5259
Quote:
Originally Posted by heart84 View Post
Not sure about 401Ks specifically, but I believe we will have some derivative of Cyprus-style bail-ins in the future. Bet the people of Cyprus never thought it would happen......
Ahh yes, the people of Cyprus and their $20 billion GDP.

That’s of course about 1/3 of Tulsa, Oklahoma’s GDP of $57 billion, which doesn’t even crack the top 50 metros in the country.
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