Monday, October 11, 2010

Time For an, "I Told You So" Yet??????????

Yep. If you thought I was just my usual paranoid self Back in January and May of this year, think again.

They Really ARE Going To Steal Your Pension/Retirement Money, Folks!

Really. I was NOT shitting you on this.

"Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone.

Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci...."

"In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a "fair" pension to everyone using that confiscated money coupled with the mandated contributions

Read the whole article. Here's a little nugget buried in there about some of the folks behind this idea- "The EPI is housed on the third floor of the building occupied by the George Soros-funded Center for American Progress.........." Oh Shit. This is worse than I thought.
You really do need to read this crap and pay attention here.

I still ain't the guy to give investment advice to anyone, but seriously, how is this gonna impact you and just what are you gonna do about this?

I'm open to suggestions here because I've already lost 40% or more of my retirement investments and may be just as well off with whatever kind of BS they are planning.
No, I kinda doubt that, but what the hell. I'm at a loss right this minute to come up with a great idea on how to deal with this other than take the loss and cash out of what little I still have and pay off the mortgage and purchase tangible goods.

I'm listening.

Gratuitous Picture for a Monday Night-


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