Like all Ponzi schemes, Social Security is now losing ground

Discussion in 'News / Current Events' started by rbell, Mar 26, 2010.

  1. rbell

    rbell
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    http://blogs.marketwatch.com/fundmastery/2010/03/25/social-security-is-officially-losing-ground/

    Quicker than expected.

    We knew this day was coming, but it got here earlier than we thought.

    Ponzi schemes always fail. It's just a matter of when.

    Note to folks 40 and younger: If you're counting in any way on Social Insecurity...don't. Plan for your retirement as if there won't be a dime in SS for you. Probably because there won't.

    I know this is impossible...but if the government came to me and said, "You can simply stop right now with your SS contributions...you won't get a dime, but you won't have to put one in..." I'd take it. Ten years from now, I probably wouldn't (too close to getting the $$ I've put in). Were I ten years younger, I'd salivate at the chance.

    Shame on us, America, for becoming dependent on SS as a sole source of living. (Yes...I'm aware, and concede, that there are many who simply didn't make enough to save enough...but those numbers IMO are much smaller than many of us think).

    Save for your future, people. Don't count on Social Insecurity to make your living for you.
     
  2. donnA

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    we live pay check to pay check, there is no excess for us to invest or save. now if they'd stop taking out this tax on us seeing as how we'll never collect any of it, we might have a chance, but otherwise we have nothing. once my husband can't work anymore our only option will be to die.
     
  3. matt wade

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    So, the fact that social security tax is withheld from your husband's paycheck eliminates all your responsibility to plan for your own future? You play the conservative on this board, yet you bank your entire future on welfare.
     
  4. targus

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    Donna, you describe dire circumstances in your personal financial life.

    Would it be possible to move somewhere else where it may be possible for your husband to find a better paying job?
     
  5. donnA

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    still making stuff up I see.
    No fact is we live pay check to pay check, just like I said, stick to the facts please. if they didn't take so much of our money we might have had a chance. we might have a future if we didn't eat food now.
    people liike you think everyone has anice job a nice house and plenty of money so that they have left overs, not everyone does, some people are just plain poor in this country, wether or not you know about it.
     
  6. donnA

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    mo, 1. it take smoney to move away, 2. he has no education, thesem low paying jobs are all he's ever going to have. and this is better then the farm work he did for 10 years, where we truly did go hungry many times, and frequently did not have adequate heat, and for those 10 years didn't even have running water.
    yep, poor people live like this in this country.
     
  7. matt wade

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    Oh, I know plenty of people are poor. I also know that those same poor people act as if they have no chance to better themselves. People aren't poor for a lifetime because of external forces. They are poor for a lifetime because they lack the will to better their lives.

    Please, note the distinction between poor temporarily and poor for a life time.
     
  8. donnA

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    so says you, people with money think everyone should have it or theres something wrong with them. this is one of the attitudes that most disgust me on this board, the running down of people who don't have by those who do. some christian attitude there. I hope your happy with your obvious hatred of those who don't have what you have.
     
  9. matt wade

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    I have no hatred for people that don't want to better themselves. I do pity them however. It truly is a pity when people give up on themselves and on life and think that the world owes them something.
     
  10. Paul3144

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    How do you remotely get that from Donna's post?
     
  11. windcatcher

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    Matt wade,
    People don't want your pity.
    People don't need your pity.
    And its not the public you're addressing here when you address a member of this board.
    You're addressing a real live, breathing flesh and blood person.
    If I were in her shoes, I'd be telling you to stay out of my business. You don't know what choices are open to her: You don't know what doors are closed. You are not in a position to judge what she can do and can't do. You know nothing of her values; of her circumstances; of the reasons for her decisions.

    You have no way of knowing that she is where she is because it was God's plan and not yours. You have no way of knowing that the decisions her family has had to make are because of things more valued than money, or big city life, or tearing down others to win a position and better pay.

    If you really want to help, if you can't help meet the needs of those less fortunate and do it with joy and thankfulness and good cheer..... then back off. Judgement is not needed here and none of us are the judge. You have no right to say that people who have lived a godly and lawful life, who have had their money taken by others and promised a return, are not just to expect the fulfillment of a promise. The person who paid social security all his life did so expecting that it was taken from him.... and his own means to provide daily or invest in his future were restricted based on a promise that he could at least count on having it returned to him someday. He never expected the world owed him anything... and he never expected people who would represent him to take his money and give him promises of a future return... and then use it up.... like Maddoff did.

    Your post is so destructive! I find myself entertaining the evil thought that what if you have your savings and investments for the future all nicely wrapped in a neat bundle and sealed with a bow..... mutual funds, 401-k and kins, IRA's etc., the promises of an employer, a corporation, a union, or a government job.... that your future will have benefits and you'll have a retirement based on your longevity at a job: What if the government steps in... and figures out how to crash that market on which the growth of your funds was dependent, and taxes it as money withheld from circulation, what if it shoots up the monetary supply of paper and coinage so high that it is no longer of value more than toilet paper or curtain and fishing weights? What if the storms crash your area of living and you find your homeowner insurance doubling and tripling every year and difficult to find insurance cause the company that you depended on goes bankrupt or pulls out of your state? What if the revenue needs of your community and state are so increased that your property taxes are doubled, your license and tag fees are doubled, you find fuel taxes go up, and the utility bills increase because of added on fees to pay state and federal revenue?

    You, dear brother, do nothing to encourage her faith and hope that God will provide... and you do nothing to convince anyone that you trust anything other than mammon for your own supply... now or in the future.

    The following is my error and mischaracterization:
    I hate to mention a prayer request where it seems you wanted the community of faith to touch heaven in your behalf. Yet here you have a sister, and you have an opportunity to comfort her, encourage her, and pray for her.... nothing which cost you one cent, yet you quickly accuse her of expecting the world owes her something? Well..... to you the 'world' was that bank and its regard for the worth of your promises and the potential to make good on their investment. End of error. Please forgive my error. Mistaken identity, inexcusable and unfair to Matt Wade or any other implicated.

    And its the world for which you depend on the growth of your business, and its the world which changes the value of your investment and the worth of your money supply. Self pride and foolish judgement of others... snares we need to avoid, snares we need to caution others from getting into before they enter chastining.
     
    #11 windcatcher, Mar 26, 2010
    Last edited by a moderator: Mar 26, 2010
  12. pinoybaptist

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    For Donna, and all who live paycheck to paycheck, I say, thank you, sir, for your kind words.
     
  13. Aaron

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    Ditto, and most of what windcatcher said.
     
  14. annsni

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    Some people have never experienced true poverty and the very hard time it is to get out of it. But it's interesting that they are the ones with the most to say - and the least to actually help.
     
  15. matt wade

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    I've obviously touched a nerve here and I'm sorry for that. I never meant to personally attack Donna, but I can see that my intent and my words conflicted with each other. I can definitely see that my words on this thread show a personal attack towards Donna and I apologize for that. I do not know Donna and her husband's personal situation and as such I have no business commenting on it.

    The thought that I meant to convey was one of personal responsibility and bettering one's self. I think we can all agree that our lives are what we make of it and we should not anticipate or rely on welfare to get us through life (again, I'm speaking generally and not to Donna). I've been down and out, living out of a car, and not knowing where my next meal would come from. I've stood in soup lines, turned in food stamps, and taken hand outs from individuals and government entities. One of my most memorable Thanksgivings was on the receiving end of a food line in Charlestown, S.C.. I've been down in the dumps, poor, and felt like there was no way my situation in life would get better. Then, I reallized that I had the ability to do something for myself, once I stopped relying on other people and handouts. From then on I worked hard and rose up from poverty.

    Again, I'm sorry for the personal attack on Donna. I'm sorry for the others I've offended as well. I hope that you can look beyond the personal attack and try and see the true thoughts I was trying to convey.
     
  16. billwald

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    Possibly Donna and her husband's life experience experience has psychologically set them up to fail. They need to believe their life is like water over a dam and forget it. They might need someone in their town who can mentor them and hold their feet to the fire.

    About SS. How come only SS has this problem and never the Army? In truth, the Treasury will write any check the Congress and the President instruct them to write. All the money comes from the same pot.
     
  17. annsni

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    Ummm - who said Donna and her husband are failing? Hold their feet to the fire? Like they are not working to make ends meet? How do you know this? I find this really offensive, honestly.
     

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