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Germany used money printing and hyperinflation to get out paying reparations at their true value.
Instead, it paid the reparations off in worthless currency.
And you have the nerve to say that I don't understand economics -- lol.
Go look in the mirror.
More than that. Weimar had to pay reparations in gold or a foreign currency, and then the Allies took over the Ruhr and much of their productive areas. The result was hyperinflation as the sovereign currency became worthless. The Gov't didn't print more just to make it worthless and avoid payment.
That is what mine says too. Do ya think they might know what they're talking about? Mine has been in the business for about 30 years now.
ETA: Any investment over 30 years will make money, no matter which 30 years one is talking about. Any financial advisor will tell you that, too.
I'm 10 years from retirement. The closer I get, the more conservative I invest. So I think he knows what he's talking about. If I had 30 years to invest, I'm sure the predicted ROI would be higher. If I was 30 years out on retirement it wouldn't mater if I'm down in 10 years. I'd have 20 to recover. I'm retiring in 10 years so I don't take many risks anymore.
5% gets me where I need to be IF SS is still there. I'll be working a few years longer if it's not. I do think something will be there. You can't take money from people and their employers for 50 years with the promise they'll be taken care of and then yank the rug out from under them because you didn't invest the money as promised. I'm not sure what the government is going to do but they'll have to do something. I hope they're investing what we're paying in now while most of the baby boomers are still working.
If you were to take what I and my employers contributed for the last 10 years and what I and my employers will contribute for the next 10 years invested at 5% interest you'd have the first 9 years of my SS paid for and I have 30 years of contributions before that. The sad truth is if the money had been taken care of we would not be in this pickle. It wasn't. The government robbed the SS bank and now wants to cry broke.
Yes, but it does clearly give an example of how incredibly dumbed-down much of the U.S. population has become.
That's because googling answers has replaced real thinking. They run with whatever they find on the internet right or wrong. The digital natives take the term sheeple to grand new heights. It's like they wear a google gentle leader that points them in the direction that whoever made whatever site wants them to go. It's scary.
You can't take money from people and their employers for 50 years with the promise they'll be taken care of and then yank the rug out from under them because you didn't invest the money as promised. I'm not sure what the government is going to do but they'll have to do something. I hope they're investing what we're paying in now while most of the baby boomers are still working.
If you were to take what I and my employers contributed for the last 10 years and what I and my employers will contribute for the next 10 years invested at 5% interest you'd have the first 9 years of my SS paid for and I have 30 years of contributions before that. The sad truth is if the money had been taken care of we would not be in this pickle. It wasn't. The government robbed the SS bank and now wants to cry broke.
Yep. The federal government misappropriated the SS and Medicare tax funds. That's not the SS and Medicare taxpayers' fault.
Yep. The federal government misappropriated the SS and Medicare tax funds. That's not the SS and Medicare taxpayers' fault.
THAT is the problem. Had the money been invested there'd be money there in perpetuity to fund the system. It wasn't. The question is now what? I'll be eligible for benefits in 2026 and the system is predicted to become insolvent in 2033 not because the money wasn't there but because they robbed the bank. They used it to fund other departments with no plan to pay it back. Fortunately, predictions are that they will still be able to pay about 75% of promised benefits after that date so all is not lost.
Last edited by Ivorytickler; 03-22-2015 at 09:26 AM..
THAT is the problem. Had the money been invested there'd be money there in perpetuity to fund the system. It wasn't. The question is now what? I'll be eligible for benefits in 2026 and the system is predicted to become insolvent in 2033 not because the money wasn't there but because they robbed the bank. They used it to fund other departments with no plan to pay it back. Fortunately, predictions are that they will still be able to pay about 75% of promised benefits after that date.
THAT is exactly why the U.S. federal government should NEVER be trusted to administer such over-reaching initiatives like the entire country's health care, retirement funding, etc.
THAT is exactly why the U.S. federal government should NEVER be trusted to administer such over-reaching initiatives like the entire country's health care, retirement funding, etc.
This is iron clad proof that the government cannot handle seeing to the welfare of the people. Far better to have programs that encourage/require people to take care of themselves. The government cannot handle money sitting there growing without wanting to get their fingers into it and that is what needed to be done for SS and medicare to work.
This is iron clad proof that the government cannot handle seeing to the welfare of the people. Far better to have programs that encourage/require people to take care of themselves. The government cannot handle money sitting there growing without wanting to get their fingers into it and that is what needed to be done for SS and medicare to work.
SS and Medicare have, and will continue to work, unless in the future we and our elected officials say not to fund them. Or restrict them. Or lower payouts. Who will vote for that?
On the Right they might out of ignorance or ideology.
But if you think we should continue these programs, vote in ways to promote and continue them. And then they will be there into perpetuity funded by some combination of taxation, personal payments and/or deficit spending.
Our Federal Gov't has no need to save or invest in its own sovereign currency.
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This is iron clad proof that the government cannot handle seeing to the welfare of the people. Far better to have programs that encourage/require people to take care of themselves. The government cannot handle money sitting there growing without wanting to get their fingers into it and that is what needed to be done for SS and medicare to work.