When $1 Million Isn't Enough

A million would be enough if we could have a stable economy

I think a million bucks would be enough if you have social security and a pension from your employer. If, however, inflation isn't stopped, 2 million want be enough.

If inflation continues, people should start looking for a peaceful place - probably in the South or Midwest and start raising their own veggies, et al.

The Fed has lowered the interest rates from 5 percent to 2 percent, which knocks a hole in Money Market funds and CDs. Meanwhile, the Fed is pumping our money into banks who have made bad investments.

I don't know if I'm for bailing out the bad loans, since it would also bail out the people who sold you the mortgage rate. Also, since the middle class would be the ones who would get hurt since they're the ones who are being taxed to death.

A little history. When the Regain Administration was in office, Reagan choose

our good friend, Mr.Greenspan to form a committee to reform Social Security. Well, they choose to lower the percentage that the rich would which dropped their bracket from about 70 percent to 28 percent. To offset that, he raised the amount for the poor and middle class from 11 percent to 15 percent. The money raised was supposed to make sure the Baby Boomers would be sure to have enough money in the SS fund to pay for their retirement. In other words the baby boomers were paying for their own retirement. By the way, Mr Greenspan came back a few

years later and wanted to do away with SS.

Well, Mr. Greenspan, after screwing the poor and Middle Class give additional to the rich, is in high cotton. He just made about 7 million to write a book full of lies.

Everytime I go to the Library, there's Mr. Greenspan's book - rusting away on the shelves of Libraries. That's were we are today, the rich are getting richer and the poor getting poorer.

The rich were suppose to ivest that money in the US, but, instead they are buying

beach houses in foreigh exotic Islands, et al. So much for Mr. Reagan and Mr Greenspan!

john laster of AZ @ Jun 09, 2008 14:52:55 PM