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Just paid a visit to Facebook page; full of the usual rants about "protecting" Social Security and Medicare. What disturbs me most is that so much of the ranting revolves around the old, and mistaken belief, held among so many of the more simplistic over there, that "I paid into it, and now I want my money back".
You just can't seem to get these individuals to understand that Social Security doesn't maintain individual accounts; that the system merely takes from those still working to pay those who aren't, and that the ratio between those two groups continues to deteriorate.
No matter how many times the facts are repeated, there remains a large, and completely delusional clientele who cannot understand that: (1) Social Security is little more than a Ponzi scheme; (2) that the end of American dominance of a global economy means that wages in many industries will be depressed, and (3) a heavier burden is falling on a diminishing number of younger workers.
Those of us with a bit better education and a realistic picture of the problem are going to be able to defend ourselves. but what happens when an economically-ignorant mob comes looking for somebody to blame?
Last edited by toosie; 01-08-2017 at 04:44 AM..
Reason: Deleted partisan politics
Just paid a visit to Facebook page; full of the usual rants about "protecting" Social Security and Medicare. What disturbs me most is that so much of the ranting revolves around the old, and mistaken belief, held among so many of the more simplistic over there, that "I paid into it, and now I want my money back".
You just can't seem to get these individuals to understand that Social Security doesn't maintain individual accounts; that the system merely takes from those still working to pay those who aren't, and that the ratio between those two groups continues to deteriorate.
No matter how many times the facts are repeated, there remains a large, and completely delusional clientele who cannot understand that: (1) Social Security is little more than a Ponzi scheme; (2) that the end of American dominance of a global economy means that wages in many industries will be depressed, and (3) a heavier burden is falling on a diminishing number of younger workers.
Those of us with a bit better education and a realistic picture of the problem are going to be able to defend ourselves. but what happens when an economically-ignorant mob comes looking for somebody to blame?
How can you talk about education levels and poke fun at others for not understanding and say this? It's uneducated people who call SS anything of the sort as a Ponzi Scheme
Last edited by toosie; 01-08-2017 at 04:45 AM..
Reason: Deleted partisan politics from quoted post
My financial advisor, who's pretty conservative, showed me a chart of the market, relative to every crisis that happened around the world in the last 100 years. That includes wars, currency crisis, recessions and depressions, you name it.
Yet here we are, Dow 19k, solid home lending, and low unemployment. How is it possible if everything is supposed to crash all the time?
I'm not saying this with any political slant, I'm not saying this as a cheerleader or bear, I'm just saying that we somehow seem to always get along. The sun rises everyday.
Really! Ponzi schemes fail because they have no connection to a reliable income stream. Social Security is plugged directly into US payrolls, perhaps the largest and most reliable income stream in the world. And like most insurance plans, it pays current benefits out of current premiums and stashes any remainder away as reserves against future claims. As for policy holders, they of course expect to be paid if the events insured against happen to them. There is nothing odd or ignorant about that at all.
This is the forum for those who like to whine and complain, believe the sky is falling, have weird self grown economic theories, who believe in conspiracy theories and are trying to find outside excuses to handle their poor planning and failure to develop careers.
There are a few posters who try to bring up facts and have rational discussions. Unfortunately the aforementioned noise is so loud, most sane forum members have already left.
Your financial advisor sounds like he would fit in well here. If he truly believes a chart of stock performance corresponds to "wars, currency crisis, recessions and depressions, you name it, then I strongly recommend you find another advisor.
Your financial advisor sounds like he would fit in well here. If he truly believes a chart of stock performance corresponds to "wars, currency crisis, recessions and depressions, you name it, then I strongly recommend you find another advisor.
Wait are you saying it doesnt?!?!
I can't count the number of times I looked at a HESCO barrier in Iraq and said: "I shoulda bought stock in them!"
Politicians KNOW who's getting the contracts and insider trading on the information is LEGAL for them. (That's why they all retire as millionares/millions more rich)
The great depression was ended by WW2 etc etc etc.
I can't count the number of times I looked at a HESCO barrier in Iraq and said: "I shoulda bought stock in them!"
Politicians KNOW who's getting the contracts and insider trading on the information is LEGAL for them. (That's why they all retire as millionares/millions more rich)
The great depression was ended by WW2 etc etc etc.
From what little I can understand of your comments, they have nothing to do with using the overall stock market performance to make predictions. Did you intend to post on this thread or were you just somehow lost in your own separate thoughts?
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The "meltdown" that will never happen in America
