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Thread: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a future Am

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by UtahBill View Post
    In the book, a random walk down wall street, the author says that "long term, real estate is just as effective"....but that was before the current real estate market crash...
    when there is tons of money involved, the cockroaches gather....

    I have my methods, and they work for me....
    Long term is long term. It survives radar blips. Real estate will still be long term viable.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by UtahBill View Post
    madness is knowing that congress KNOWS how crooked Wall Street is, but does nothing about it....
    Insider trading still happens, stocks are touted by dishonest brokerage houses to suck in the small investors when the big investors want to sell, companies cook their books to look better than they are....
    Back before the big crash, 1929, media types were paid by check to tout stocks. Some of the reporters kept records. There was an obvious paper trail. After the crash, they had new rules. All that means is that the last method used to screw the public is harder to implement, so a new method needs to be created....
    And that still says nothing about the pending social security problems or a proposed solution.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    But if you tie private SS investments into the congressional investments you can bet they will never go TU.
    perhaps....certainly an elected official wouldn't take risks on his long term investments unless he gets a really BIG BRIBE that makes the risk to his job and freedom worthwhile....
    Oracle of Utah
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by UtahBill View Post
    perhaps....certainly an elected official wouldn't take risks on his long term investments unless he gets a really BIG BRIBE that makes the risk to his job and freedom worthwhile....
    As if THAT would ever happen...

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    And that still says nothing about the pending social security problems or a proposed solution.
    My personal solution has always been as follows...

    Lots of eggs in multiple baskets, don't trust any one source of retirement income to be there, get an education that makes good money, don't spend it faster than you earn it, stay out of debt where feasible, no cars you can't pay cash for, pay off the house mortgage early, certainly be debt free by age 55 plus have substantial savings. Credit card debt is to be considered a sin, if not a crime.
    Much of my investing was in the stock market, and it worked well thru the 70's, but since then not so well. If we can get ethincs back into the system, I will change my attitude about Wall Street, but not until there are penalties in place that actually discourage dishonest and/or unethical behavior....
    Oracle of Utah
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by UtahBill View Post
    My personal solution has always been as follows...

    Lots of eggs in multiple baskets, don't trust any one source of retirement income to be there, get an education that makes good money, don't spend it faster than you earn it, stay out of debt where feasible, no cars you can't pay cash for, pay off the house mortgage early, certainly be debt free by age 55 plus have substantial savings. Credit card debt is to be considered a sin, if not a crime.
    Much of my investing was in the stock market, and it worked well thru the 70's, but since then not so well. If we can get ethincs back into the system, I will change my attitude about Wall Street, but not until there are penalties in place that actually discourage dishonest and/or unethical behavior....
    My investments are pretty diverse and secure. Im not looking for individual home runs. but I have no problem investing in pharms, oil, and foreign currency on top of federally backed market funds and property. I figure if the global and US markets tank beyond recovery nothing but land will matter. Well...land and a lifetime supply of seeds, bullets, and fishing tackle.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    And that still says nothing about the pending social security problems or a proposed solution.
    My solution for the nation, an abandonment of workers.....tell them they are on their own from now on. You get to keep whatever retirement funds already accumulated, being vested, but in the future you take care of things yourself. Some will end up with all one plan or the other, some will have a combination, til the time when all the old plans have expired.

    Your employer pays no more benefits, but pays you what it was costing the company. You then buy your own healthcare plan, and fund your own retirement. I would phase out Social security, but not medicare. None of us can plan for the unknown, and certainly many of us will have large medical bills in our later years....
    I would tax the hell out of tobacco, likewise alcoholic beverages.
    Then I would legalize marijuana and tax the hell out of that. All other drugs gets you free room and board at the county "farm"....
    Oracle of Utah
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    My investments are pretty diverse and secure. Im not looking for individual home runs. but I have no problem investing in pharms, oil, and foreign currency on top of federally backed market funds and property. I figure if the global and US markets tank beyond recovery nothing but land will matter. Well...land and a lifetime supply of seeds, bullets, and fishing tackle.
    A ton of rice, a water purification system and/or solar still, lots of bouillon cubes, and home grown veggies.....and some chickens.
    You live near the ocean? Lots of fish there....
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    My investments are pretty diverse and secure. Im not looking for individual home runs. but I have no problem investing in pharms, oil, and foreign currency on top of federally backed market funds and property. I figure if the global and US markets tank beyond recovery nothing but land will matter. Well...land and a lifetime supply of seeds, bullets, and fishing tackle.
    We absolutely need to nationalize health care, the pharmaceutical and oil companies, then open up the American market to foreign manufactured drugs, if we can let foreign companies do business in America selling X,Y and Z products then we need to open up the market to ensure competitiveness across the board, we can't be selective with protectionism

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by UtahBill View Post
    You and I both know lots of people who will spend all they earn and a little bit more, and forego saving for their retirement years.....
    So it would have to be forced savings.....
    i agree (though i find it sad). which is why under the plan i posted, it is.

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