23
Oct
08

Twitter update

Uh oh. 25mph on the highway. :(

Posted by email from flashkube’s posterous

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2 Responses to “Twitter update”


  1. October 23, 2008 at 10:40 pm

    For one, I don’t understand the title. The article is about how Democrats in congress want to nationalize Social Security by getting rid of 401k accounts and replacing them with mandated retirement accounts backed by U.S. Treasury bonds, but the title says they want further privatization.

    That contradiction aside, I find it hard to believe that anyone would continue advocating the current 401k system given the stock market volatility we’ve seen recently. You and I are just lucky we are not retiring any time soon. There is still hope that we can recover the lost equity in our 401k accounts over the long run. Imagine someone who had planned to retire in the next five years. Those people are out of luck because the stock market is not based on any real or absolute value. I don’t know about you but I’d much rather have my retirement savings in the safest investment available in this country, U.S. Treasury bonds (Hey, if they’re good enough for China…). Sadly, the value of even these securities is being affected by the financial market meltdown.


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