Facebook destroys Republican myth of privatizing social security panacea

The right wing hush mob does not want you to connect the dots after the Facebook IPO debacle. For decades now the far right has been demanding that social security funds be diverted to privatized accounts where the average Joe Blow can direct where the money is invested, because after all "who knows better what do with your money?"

Well let's see what happens when the average person "invests" their money...

Social Security is far from perfect but for DECADES ever single person that paid into the system received a check upon reaching retirement age. NO brokerage house has that track record.

Social Security has its issues but it is a heck of a lot better than what these guys are doing.

 

I'm at a loss with respect to what Facebook has to do with the concept of privatizing SS??? Also, what in the blue moon does the GOP have to do with any of this?

You use "risk capital" when investing in equities. Do you understand the definition of "risk" ? It is quite different than guarantee or warranty.

2 words hold true when investing in equities

caveat emptor

 

I know.

No need to tell me. I know that. Too bad the average person doesn't which is why self directed accounts in lieu of Social Security would be a disaster.

The GOP has been calling for self directed investment accounts in lieu of Social Security for years. Of course every time there is a stock market disaster they get real quiet. After people's memories start to fade they start up with that talk again...

Link.

 

soooooooo, you are saying that people are stupid and it's the role of the fed govt to protect them from themselves????????????

I understand that somewhere along the line of your short life that someone convinced you that people should not be responsible for themselves. I'd hate to break it to you but you were fed a bunch of crap. "A govt which is big enough to give you what you need is big enough to take everything from you".

I suggest that you carry those words with you and perform some introspection.

 

Absolutely HILARIOUS. One IPO does not make a fair representation of private investment versus the Social Security ponzi scheme. I suggest you look at what the stock market has returned over the long haul versus what Social Security returns rather than babble and whine about Facebook. If you do that, you'll realize how foolish you appear with this nonsense of yours.

 

Let's not forget Facebook co-founder Saverin ... who renounced his U.S. citizenship prior to the IPO to avoid taxes ... he's also been hailed as the new right-wing messiah ...

 

You can look at those trades I just posted and read the torrent of people moaning about Facebook on the internet and come to your own conclusion.

 

Every other American has guns. Why do we need such an expansive defense budget? Are we too stupid to know how to shoot? Can't we just be responsible for defending ourselves? I mean, what if I don't like the choices the federal government makes with the military?

 

He is? Says who?

 

And we can look at the buffoons who keep voting for expansion of government power in the face of disaster after disaster after disaster with "investments" in "green" energy, budget and cost overruns, broken promises, joblessness, etc etc- and come to our own conclusions.

 

ITT, the OP is using human stupidity to validate SS. Overall, I think SS has been a good program which needs some fixing, but it is amusing to see how desperate some people are to validate it.

Next time don't bet the farm on single stock. Plus, dropping from $38 to $32 isn't the end of the world.

 

So that's one sector of IPOs over a 14-year period, and I'm supposed to accept that as a representative comparison between overall stock market returns versus the "investment" in Social Security? Oh and you DO realize you're showing us some pretty phenomenal returns, don't you?

Sorry, not even close. Nice try, though.

 

I notice you don't have anything intelligent to say about the opening post of this thread. The market action of the last week and the hue and cry for a GOVERNMENT investigation by retail investors tells me a lot of them don't know what they are doing.

 

ROFL!

That is all you have... and the "Granite Bay" woman lives in the most expensive part of the entire Sacramento / Placer County area. I know, I had a house there next to one of the Sacramento Kings.

Let's take Galveston, TX who was allowed to opt out of the less than 1% return which Social Security provides. Over the the last few decades they receive over a 20% return on their retirement. Chile as a country has seen the privatization of their retirement pay huge gains for the citizens.

You are taking one stock and one event... the thread example is crap.

 

I notice you're being dishonest. I pointed out the silliness of your comparison. You claim it's not "intelligent". I say it obliterates your silly argument. That said, the stock market involves risk. It goes up, it goes down, it goes sideways. If you're that afraid of the stock market, then stay out. Pretty simple.

And the cry for government investigation? More smoke and mirrors. It's yet another diversion by desperate liberals to make the case that government should do more to "protect" people, while at the same time seeing to it people don't look at Obama's failure as president.

 

"Oh, it's just one IPO." "I mean, oh, it's just one sector." "Oh, I meant it's just $5 Trillion." Love watching you scramble man. Can't wait to see the next excuse. How do you sweep $5 Trillion under the rug?

 

Scramble? I've countered each of your bogus arguments as you've offered them. You're the one who's scrambling.

Now you are resorting to making up bogus quotes. With such blatant and desperate attempts at dishonesty, it's obvious you have no cognitive reply to offer.

Next time a simple "I give up, you win" will suffice.

 

I noticed you didn't touch that $5 Trillion. That's just the internet sector. You ready to move over to the financials, REITS, and home builders for round two? Well first try and sweep that $5 TRILLON LOSS under the rug and then we will move on to taking you to task in other sectors.

 

Why would I need to address any $5 trillion that people choose to invest at their own discretion? That's the stock market. I'm far more concerned with the $5 trillion that Obama has added to the debt with outrageous spending of Barack Obama.

The fact is, the stock market has created and returned incredible wealth. You are desperately running around with silly little snapshots, desperately trying to misrepresent the market.

Sorry, it's simply not working.

 

Because if social security was privatized that $5 Trillion LOSS would have swallowed a chunk of it.

 

Of course. That's because now his money will mingle with the rich Republicans at dinner parties in the Cayman Islands.

Romney: "Please pass the Grey Poupon"

[video=youtube;NmannAYiwh0]http://www.youtube.com/watch?v=NmannAYiwh0[/video]

 

Norquist ... who then called Schumer (investigating Saverin) a nazi ... who lost members of his family in the holocaust ... yes, conservatism messiahs.

 

If you suggesting that everyone can take of themselves financially then you haven't been paying much attention in life, let alone all the investment theives out there, as this thread highlights.

 

How much of it? And against how much of a gain?