Sense on Cents

An individual whom I highly respect submitted this commentary and requested I publish it. Given the respect I have for him, the depth of his perspectives, and the serious nature of this topic, I am happy to provide an outlet via Sense on Cents for his thoughtful analysis and projections. This commentary and the implications as outlined should give us all reason to pause and think.

LD

Blueprint for Government Takeover of IRAs by Comrade Joe

This blueprint is imaginary; the references are factual. Let’s connect the dots:

1.  Learn from Argentina (Oct 2008):
Argentina’s Property Grab – A cautionary tale for anyone who owns a retirement account. – Argentine President Cristina Kirchner announced this week that her government intends to nationalize the country’s private pension system. If Congress approves this property grab, $30 billion in individually held retirement accounts — think 401(k)s — managed by private pension funds will become government property.  – Wall Street Journal 10/23/2008

2.  Study Professor Teresa Ghilarducci’s Paper (Oct 2009): (more…)