General Discussion

JDPriestly

(57,936 posts)

36. The biggest Ponzi scheme of our time has not yet unravelled.

Tue Mar 27, 2012, 03:51 PM

Mar 2012

That is the 401(K) idiocy.

In just a few years, the first of the baby-boomers will hit 70, begin to take mandatory pay-outs from their 401(K)s and start paying taxes on the income at the low rates they will pay in retirement. When the 401(K) withdrawals of the baby-boomers get into full gear, we will have extreme volatility in the stock market and other exchanges. At the same time, Medicare expenses, the legitimate ones, will soar.

Over-population is here now, and its repercussions will be devastating. Republican "values" or lack of values depending on how you look at it will be tested.

Because the entire 401(K) system is not what it was cracked up to be. Everyone talks about problems with Social Security. Just wait until they realize what the"problems" with the 401(K) system will be.

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What do you think of this comment about current state of the country? [View all] dixiegrrrrl Mar 2012 OP

I wish our "leaders" here one-tenth as cogent villager Mar 2012 #1

Essentially Correct. TheMastersNemesis Mar 2012 #2

Accurate. nt Romulox Mar 2012 #3

There is no way to stop it? el_bryanto Mar 2012 #4

He is saying that "traditional" means dixiegrrrrl Mar 2012 #5

Then we need to replace the people in the system abelenkpe Mar 2012 #6

A total collapse and a new dark ages will stop it. Zalatix Mar 2012 #10

It is a real possibility that a Rick Santorum-like character would rise as the leader out of jtuck004 Mar 2012 #11

In republican circles it is already being stated that "Sanatorium" is truedelphi Mar 2012 #12

There's not one of 'em who understand economics well enough to jtuck004 Mar 2012 #23

We are in a depression. truedelphi Mar 2012 #32

The biggest Ponzi scheme of our time has not yet unravelled. JDPriestly Mar 2012 #36

I personally think that the money will be gone by that time. dixiegrrrrl Mar 2012 #37

jtuck004, have you joined your local Democratic Club? JDPriestly Mar 2012 #30

No, tried a few years ago but didn't much care for the crowd. jtuck004 Mar 2012 #34

Unfortunately I agree with him. And it is not just how we are approaching the economics that is jwirr Mar 2012 #7

Bang on! n/t GliderGuider Mar 2012 #9

He's absolutely on the money except for one thing. GliderGuider Mar 2012 #8

Can you explain what you are seeing as his point one? truedelphi Mar 2012 #16

Sorry, I meant the first point listed in the OP GliderGuider Mar 2012 #20

Okay, gotcha ya. I reacted the same way. truedelphi Mar 2012 #31

Yes, I saw Idiocracy a few years ago. GliderGuider Mar 2012 #39

Ah, but you underestimate, I think the majority do recognize it's a facade. Revolution is in mother earth Mar 2012 #17

Yes, I think we are on the brink of an abrupt change in the world GliderGuider Mar 2012 #24

I think he's right. The evidence is everywhere. However, I do think it can be changed, although sabrina 1 Mar 2012 #13

Yes, the Occupy Movement contains the only glimmer of hope for the truedelphi Mar 2012 #18

Well, Occupy started a Global Movement. I can't say for sure, but I think this may be the first sabrina 1 Mar 2012 #21

Loving your ideas. Thanks for presenting them. n/t truedelphi Mar 2012 #22

Take a look at Via Campesina GliderGuider Mar 2012 #26

Interesting, I never heard of it before, thanks for the link. Maybe Occupy could join them sabrina 1 Mar 2012 #38

Absolutely he's correct. We can't stay in the old paradigm. We have to progress into a new era, mother earth Mar 2012 #14

Sadly, quite accurate Loge23 Mar 2012 #15

But woo me with science Mar 2012 #19

I see nothing with which to disagree. hifiguy Mar 2012 #25

It makes me sad, especially for my children. deutsey Mar 2012 #27

I think we're re-living the end of Edwardian Britain between the wars. LanternWaste Mar 2012 #28

I think you are correct but only because we are not going to have a choice. There is no returning jwirr Mar 2012 #40

The handwriting on the wall is flashing in neon that our empire is collapsing. Tierra_y_Libertad Mar 2012 #29

I agree times are bad, but not that we are dooooomed. n/t Akoto Mar 2012 #33

He's right - Initech Mar 2012 #35