I wonder if a fox would snuggle up to a cat like this? Man, that cat looks disgusted.
Cat: "I IZ NOT A TEDY BEAR!"
* * *
Liberals hate the idea of people having money they can't tax which is why--regardless of what happens in the next few elections--retirement accounts of various kinds will be seized by the federal government.
Private retirement accounts represent a huge pool of money, and here our government has found itself in a bad situation where it needs a huge influx of money to keep various programs and policies in effect.
It's a bad deal for the private citizen, of course. Let's say you've got $100,000 in various retirement instruments in 2012, and things are looking okay for you to retire in 2035.
2013, the government decides to seize all such instruments. You lose all control over that money but you do get an IOU from the government for the value of your accounts plus interest etc etc when you reach retirement age.
2020, the great federal Ponzi scheme continues; the government spends an ever-increasing amount of money on simply servicing its own debt. Inflation is rampant but at least your "lockbox" is maintaining its value.
2035 and you're ready to retire, but the government has decided to increase retirement age five years because SSI is in financial trouble. You have no private investments for retirement (they were made illegal in 2013) so you have no choice but to work another five years.
2040, you can retire now, but the government has gone broke and defaulted on the majority of its debts, which include all those individual retirement "lockboxes" it seized in 2013. Your retirement money is gone down a rat hole, never to be seen again, and the IOU you got in 2013 is worthless. You're lucky to get anything at all, but your dreams of a pleasant retirement are gone.
That is what makes this idea so perniciously evil: the money that the government seizes will be spent, just like the entirety of the Social Security "lockbox" has been. There is no account, no fund, no savings; just a stack of IOUs backed by "the full faith and credit of the US government". But if there is neither faith nor credit left, how do you collect?
At least if you retain control of your retirement accounts, you can do something when you see the economy beginning to come apart--buy gold, buy other currencies, buy land, do something to move your money into durable goods that hold value. But if the government has taken your money and given you a piece of paper with "IOU" written on it, what can you do? Sell the piece of paper? Who's going to buy it? (And probably the law which lets the government take your money will probably make such trading illegal, anyway. Or tax the motherlovin' shit out of it to make it unattractive.)
I don't share the optimism of our federal masters (or "would-be masters" at any rate) that the US government is going to remain rich and powerful ad infinitum. Not the way they are running things now, not when they're spending so much freaking money that ruination is the only possible outcome. Not when they're crowing exultantly about somehow managing to cut the federal budget by a whole whopping 1% and patting themselves on the back for having such thrifty impulses.
I don't think the money will be there in 20 or 30 years for the government to pay back those IOUs. The money's not there now.
* * *
I finally faded out after 4 PM and hit the hay. I had nothing left.
...slept an hour, fed the cats, slugged back a Slim-Fast, and ended up sleeping until 4 AM. That's fine.
But I woke up hungry and I've got to get something to eat; I've been trying to decide what I want.
Yesterday's breakfast was my 1-2-3-4 breakfast: 1 glass of whole milk, 2 slices of bacon, 3 eggs over easy, 4 slices of toast. Except for the toast that's an Atkins wonderland, not that I'm doing the Atkins thing or anything. Anyway, that kept me going for five hours, until I had grilled ham-and-cheese sandwiches around 2-ish.
It's a good breakfast, though a bit high on carbs. But because of how things worked out, the bread I ate yesterday (a total of eight slices in all) was the only carbs I had. I drank only a single bottle of diet Mountain Dew; otherwise I drank water.
The more I think about it, the more I want that breakfast again. Oh well; it's cheap and relatively easy, and then I can play WoW or watch anime or something. Heh.