President Bush and Republican lawmakers distanced
themselves as well, saying that much of the problem could be averted by setting up private savings accounts.
A ridiculous proposal which plays to the ignorance of the working class about who actually produces the wealth and who retains the lion's share. ---------------------------------------------------------------- This is the biggest boondoggle of them all. I am pretty smart. I test in the upper 1% to 5% of the population. I have a Ph.D. I used to be a math major. I now write computer manuals for engineers, but, but, but...I cannot get my brain to wrap around "investing." In addition, I am convinced that "investment" is purely an insider's game.
When I attempt to read investment literature, my eyes cross and I fall asleep (just like used to happen in my Physics class). I say to myself "what would you rather do: spend a year of spare time studying investing or spend a year finishing that screenplay and taking a chance with that? Guess what the answer is?
Then of course, when I consider possible investments: health care, military supply outfits, pharmaceuticals... I gag.
So, if I have this kind of problem, guess what your average citizen is going to do? Probably pick a mutual fund. A whole bunch of people doing that will drive stock prices up -- more money chasing same amount of stocks. Duh. Then, after the bubble expands sufficiently, the insiders will get out, and everybody else will be left dead broke.
Pretty neat trick, huh? Repeat after me: privatization = theft. Hey, that sounds like a good bumpersticker.
Joanna
