The 401(k) Grab is no longer just a rumor

Discussion in 'Wall St. News' started by ipatent, Feb 1, 2010.

  1. ipatent

    ipatent

    Get ready to bend over...

    http://www.zerohedge.com/article/tr...eedback-regarding-proposed-annuitization-401k

    Well, now it is more than just blog rumors...

    The Treasury Is Soliciting Your Feedback Regarding The Proposed Annuitization Of 401(k)

     
  2. ipatent

    ipatent

    The Coming Obama Retirement Trap Has Started!

     
  3. clacy

    clacy

    Any serious whiff of this from a WH and/or Congressional Dems and there will be a full scale blood bath for the Democrats in 2010.

    I don't think there is any appetite for this right now in the US.

    I won't say never, but I can't envision a serious attempt at this without resulting in a full fledged revolution.
     
  4. clacy

    clacy

    I forgot to add that although I think it's highly unlikely (especially after MA election) it is still worth talking about and keeping an eye on.
     
  5. After watching a glorified community activist with a socialist agenda who was mentored by a white-hating nigger preacher get elected as president of the United States, nothing surprises me anymore.

    Looks like the hard working taxpayers are going to take it in the ass again when Obama redistributes their retirement accounts to ACORN and the illegal immigrants.

    Wake up people.

    Obama/Pelosi/Frank need to be stopped!!!!!!!!!!
     
  6. will he redistribute the credit cards and mortgages too? oh wait..
     
  7. The socialist in Washington is building a welfare state that Milton Friedman advocated against. The end for the Great American Empire has been accelerating. Washington will foster indolence and dependence.
     
  8. MattF

    MattF

    My 401K is gone, so no chance there...

    Albeit I do have an IRA going...wonder if they take it over even if it's "Self-Directed..."

    hmmmm
     


  9. They wanna ponzi IRA's like they did with Social Security.

    Spend your contributions NOW, and replace with IOU's for payment at a later date (when the currency is worth-less). Much less.

    Debt + interest + entitlements are way too big, revenues are nowhere near enough to cover, so they want to raid private sector IRA's to meet the shortfall.

    Print like hell, then replace the contribution + 3% per annum meanwhile real inflation ran @ 10%+ (or worse) for many years. What happens if the dollar nose dives, and US equities go to the moon? Payments are fixed @ 3%, the market does 200%, and street level inflation goes >50%. Yea, thats right.

    This is pure Socialist crap and a huge red flag. The Feds are broke and they're coming after our Money. Totally fucked. This is a full-scale act of desperation. Government is saying we're broke, but YOU'RE GONNA PAY FOR IT.
     
    #10     Feb 3, 2010