Good thing Bush didn't privatize SS and put it in the stock market

[Spytheweb]

By PATRICK RIZZO and JOE BEL BRUNO

NEW YORK (AP) -- The upheaval in the American financial system sent shock waves through the stock market Monday, producing the worst day on Wall Street in seven years as investors digested the failure of one of its most venerable banks and wondered which domino would be next to fall.

The Dow Jones industrial average lost more than 500 points, more than 4 percent, its steepest point drop since the day the stock market reopened after the Sept. 11, 2001, attacks. About $700 billion evaporated from retirement plans, government pension funds and other investment portfolios.

BTW, if Bush had invested SS money in the market what would be left? McCain still wants to privatize SS, he wants to put SS money in the stock market and roll the dice. Why not just give people their SS checks and let them go to Las Vegas?

 

[artiesliver]

I've lost more in investments, 401(K), etc. than I have on NCAA/NFL/MLB this past weeks.

 

[barman]

I've lost more in investments, 401(K), etc. than I have on NCAA/NFL/MLB this past weeks.

That's a Big Twinkie

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[artiesliver]

Yes, you know how good I've done the past several weeks...

my local---> :missingte

 

[artiesliver]

Gotta love Ernie Hudson.

 

[guitarjosh]

I'm glad too. It is a fact that the stock market will never rebound.

 

[eek.]

By PATRICK RIZZO and JOE BEL BRUNO

BTW, if Bush had invested SS money in the market what would be left? McCain still wants to privatize SS, he wants to put SS money in the stock market and roll the dice. Why not just give people their SS checks and let them go to Las Vegas?

Post of the week IMO. :aktion033

You won't see much on this kinda subject though.

 

[Willie99]

Right, because people would be retiring millionaires, that would be horrible. You see, anyone retired today or would be retiring soon would have benefited from the market growth over that last 40 or more years, so although their net worth takes a hit in the down markets, it's still a hell of a lot higher than the microscopic value their Social Security Benefits bring to the table.

This is a classic example of liberals simply not understanding the dynamics of an issue.