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post #1 of 20 (permalink) Old 05-11-2010, 07:27 AM Thread Starter
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More talk of Guaranteed Retirement Accounts

http://www.powerlineblog.com/archive.../05/026260.php
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For some time, there have been rumblings that the federal government might try to solve its budgetary problems by nationalizing (i.e., stealing) the money that millions of Americans have set aside for retirement in 401(k) plans and the like. One way they might do this is to confiscate the cash on hand in exchange for a promise to make future payments in the form of an "annuity." An involuntary annuity, in that scenario.
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post #2 of 20 (permalink) Old 05-11-2010, 07:39 AM
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This is simply an extension of the ongoing robbery that's taken place from the Social Security Trust Fund.
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post #3 of 20 (permalink) Old 05-11-2010, 07:39 AM
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I'll pull my shit out and eat the penalty before I give it to them.
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post #4 of 20 (permalink) Old 05-11-2010, 08:13 AM
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I'll pull my shit out and eat the penalty before I give it to them.
this

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post #5 of 20 (permalink) Old 05-11-2010, 08:14 AM
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I'll pull my shit out and eat the penalty before I give it to them.
No kidding.

If there's a final straw for open rebellion, that may be it.

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post #6 of 20 (permalink) Old 05-11-2010, 08:29 AM
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I'll pull my shit out and eat the penalty before I give it to them.
What you will do is borrow as much as you can from yourself and then take the rest out and eat the penalty.

This sort of shit would lead to a mass uprising. Talk about a peasant revolt. lol

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post #7 of 20 (permalink) Old 05-11-2010, 08:29 AM Thread Starter
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I'll pull my shit out and eat the penalty before I give it to them.
Many of us at work thought the same thing. Just think of what would happen if $trillions started flowing out of the US. Buy more gold. Or which country to open an account in?
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post #8 of 20 (permalink) Old 05-11-2010, 08:35 AM
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Many of us at work thought the same thing. Just think of what would happen if $trillions started flowing out of the US. Buy more gold. Or which country to open an account in?
The U.S. economy would collapse. Hell, it almost did when housing prices dropped 15%.
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post #9 of 20 (permalink) Old 05-11-2010, 08:40 AM
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Everyone keeps talking about 'this is the last straw' on every new issue that comes up. When is it going to be the last last straw and action takes the place of talking?

Pretty soon it ownt matter what we say and what we do if we don't start taking action instead of talking about action.

Don't get me wrong, I'm not doing near enough of my part to help remedy things, so I'm not trying to call anyone out, just stating what I've seen.
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post #10 of 20 (permalink) Old 05-11-2010, 09:00 AM
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Everyone keeps talking about 'this is the last straw' on every new issue that comes up. When is it going to be the last last straw and action takes the place of talking?

Pretty soon it ownt matter what we say and what we do if we don't start taking action instead of talking about action.

Don't get me wrong, I'm not doing near enough of my part to help remedy things, so I'm not trying to call anyone out, just stating what I've seen.
The problem is that people are quick to talk, but don't want to do the work themselves. What we need is someone to stand up and lead the people against this, whether it's peaceful or not.

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post #11 of 20 (permalink) Old 05-11-2010, 08:20 PM
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I've said it before and I'll say it again: We are waiting on a leader that will never arrive.
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post #12 of 20 (permalink) Old 05-11-2010, 08:36 PM
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I've said it before and I'll say it again: We are waiting on a leader that will never arrive.
I'm here, just need to finish up school and get my Constitutional knowledge, so as I bury an ax in the chest of these fucks I can cite where and why I have the God ordered authority to do so.

There will be no retirement, prepare for it.

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post #13 of 20 (permalink) Old 05-11-2010, 08:54 PM
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I've said it before and I'll say it again: We are waiting on a leader that will never arrive.
Give me a few years, I'll run. Sandy Leeds for Chief Economic Advisor and Lew Spellman for Treasury Secretary!
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post #14 of 20 (permalink) Old 05-11-2010, 08:55 PM
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Give me a few years, I'll run. Sandy Leeds for Chief Economic Advisor and Lew Spellman for Treasury Secretary!
we may not have a few years

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post #15 of 20 (permalink) Old 05-11-2010, 09:01 PM
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we may not have a few years
The most pessimistic man I know, who's called everything correctly for the last 15 years, says we have at least 5. There's hope!
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post #16 of 20 (permalink) Old 05-11-2010, 09:30 PM
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The most pessimistic man I know, who's called everything correctly for the last 15 years, says we have at least 5. There's hope!
That being the aforementioned?

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #17 of 20 (permalink) Old 05-11-2010, 09:35 PM
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That being the aforementioned?
Lew Spellman. He's the one I told you about who had the idea of bulldozing 4MM homes. The President of the hedge fund I worked for last summer got his MBA from here and took Spellman in 1997. Said all Spellman talked about was the tech bubble which was coming in 2-3 years. The Porftolio Manager this summer took Spellman in 2006, and said all he was talking about was the pending financial crisis. Spellman is the one I told you about who invented TIPS and has a billion dollar lawsuit ongoing with the Govt over it.

All Spellman has talked about this semester is a US sovereign default, and where to go to avoid it.

www.lewspellman.com for market blogs and videos.

About Lew
Since 1971, Lew Spellman has taught financial markets at the McCombs School of Business at the University of Texas at Austin, where he is a Professor of Finance. He has also taught at the LBJ School of Public Affairs, the UT School of Law, the University of California, Berkeley and Stanford University.

Professor Spellman's primary teaching is in financial markets and institutions at both the graduate and undergraduate level with an emphasis on interpreting and analyzing current market and policy developments and market trends. His academic publications appear in the Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Money, Credit and Banking and Finance among others.

His experience outside of academics includes government service as Assistant to the Chairman of the President's Council of Economic Advisors for the Johnson Administration and Economist with the Federal Reserve Board. His published works primarily concern the market pricing of financial institution claims. Professor Spellman's business interests include serving as Director and Chair of Investments, Magna Carta Insurance Company. Previously, he served as Chairman and CEO of Real Rate Financial and Electronic Exchange Technologies. He holds several U.S. patents related to financial instruments in an inflationary environment.

Lew Spellman holds the degrees of BBA and MBA from the University of Michigan and MA and PhD degrees in economics from Stanford University.

Last edited by slow99; 05-11-2010 at 09:41 PM.
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post #18 of 20 (permalink) Old 05-11-2010, 09:38 PM
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Originally Posted by slow99 View Post
Lew Spellman. He's the one I told you about who had the idea of bulldozing 4MM homes. The President of the hedge fund I worked for last summer got his MBA from here and took Spellman in 1997. Said all Spellman talked about was the tech bubble which was coming in 2-3 years. The Porftolio Manager this summer took Spellman in 2006, and said all he was talking about was the pending financial crisis. Spellman is the one I told you about who invented TIPS and has a billion dollar lawsuit ongoing with the Govt over it.

All Spellman has talked about this semester is a US sovereign default, and where to go to avoid it.

www.lewspellman.com for market blogs and videos.
Shit, may be time for another 1:00am strategy meeting.

Send me a list. Fuck.

And that site is down, he got the fuck out!

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #19 of 20 (permalink) Old 05-11-2010, 09:43 PM
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Shit, may be time for another 1:00am strategy meeting.

Send me a list. Fuck.

And that site is down, he got the fuck out!
Lol, that site is very spotty. I just got on.

See above post for a little of his background. His videos and blogs are fucking genius.
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post #20 of 20 (permalink) Old 05-12-2010, 02:08 PM
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On a lighter note, our office manager was just complaining about losing $15 on her 401k this week so far. She quit whining after pointing out that I lost $4000 in an hour last week.

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