Quote:
Originally posted by Sidd Finch
Sure, and they could hope the market would bounce back in a year. And if it didn't, well, they would always have social security to fall ba..... oh, wait a second....
|
As I keep saying, it need not bounce back in a year.
Quote:
Do you really believe that the most vulnerable in our society -- the people who did not have the skills or capacity to build private savings -- are going to make consistently wise investment decisions?
|
I believe that nearly everyone, given no choice but to save, will be able to do so without losing it all. Why? Becaues nearly everyone who has enough money to be able to save does so. The bigger risk is that most people will not take enough risk and therefore not get the full benefit of their freedom. I think you strongly underestimate people's level of discomfort with investment risk - most people will opt for gauranteed (miniscule)returns.
For the few who can't, I have no problem with a taxpayer funded saftety net.
Quote:
|
Or do you just have faith in the magic of the market, and believe that the average gain over the past 40 years equals the minimum gain that anyone can expdct in the next 40 years?
|
Yes, I have faith in the magic of the market. I believe that average returns over the next 40 years will be roughly similar (plus or minus a few points) to what they were over the last 100 years. Do you have some apocolyptic knowledge that the rest of us don't have?
Ad(Bush invented that)der
