Argentina steals (nationalizes) all money in pension funds

Discussion in 'Economics' started by crgarcia, Nov 24, 2008.

  1. Since gov't has a severe budget defecit, they are stealing (they call it nationalizing) all the money in pension and retirement accounts.

    Proof Communism is becoming a serious threat again in latin america.
  2. Yet they don't burn all the country down, overthrowing the gov't?

    As they once said in Saturday Night Live:
    " they are used to live oppresed, they are catholics, after all"
  3. The Dems are talking about taking away 401k's and forcing savings to Fed govt

    Not much difference
  4. telozo


    And how is that different than nationalizing banks in the "capitalist" America?
  5. Whatttttttt?
    Where you get such info?

    Please elaborate

    "In her House committee testimony, she proposed a plan in which workers would get a $600 tax refund but must set aside 5 percent of their pay into a retirement account managed by the Social Security Administration. The money would be invested in government bonds to earn at least 3 percent interest."

    I believe part of this was to eliminate the deductability of 401k contributions. Basically they want to force us all to save by buying govt bonds. They will need to, IMO, because we are close to where our debt level is so high that nobody else will be willing to buy our bonds because they know they can't be repaid plus interest in dollars worth anything near today's value.
  7. This has already been thought about during the Clinton years. The consideration was to slice 15% out of all 401(k)'s and pensions.

    You marxist Obama lovers, might just see him drooling over your's as well. Wouldn't that be funny? You vote a guy in and then he takes a huge chunk of your retirement. :eek:
  8. They are not allowed to posess weapons, what do you want them to do, storm city hall with rocks?

    On a historical note, it was the Catholics who killed the Christians, not the other way around. No, they are not the same. Read history.
  9. =====================
    Good points,G Trader;
    Argentines tend to be peaceful people, & they did vote her in, knowing she was a big gov fan.:cool:

    And Argentina treated Billy Graham & Franklin Graham,Christian /evangelists ;
    much better than Paraguay did.

    And not to worry;
    they still have thier tasty, grass fed beef.
  10. GTS


    The difference is in one instance they actually did it and in the other instance you have someone (not elected) testifying before a house committee making a suggestion - in other words, meaningless talk.
    #10     Nov 24, 2008