This morning I was looking at my hemorrhaging retirement portfolio. So far, I've lost all gains made since January 1st, plus a smidgen more.
All-in-all, I'm not yet worried enough to move my funds to a more secure place, but it got me thinking about the recent push for privatized social security.
Join me after the flip
It seems to me the writing has been on the wall for this latest market 'adjustment' for quite some time. Most of the reports given to the President and his inner sanctum never reach most of us.
So when Bush was pushing his Privatize Social Security agenda by touring around the United States telling his minions to 'trust me', we saw how that went down didn't we?
Thankfully for most people, they realize that Social Security is there for times like now when all else fails. Despite all the fear tactics BushCo used to shove their 'private investment accounts' down our throats, there was a tremendous push-back.
Let's think about this frame right now as we watch the train-wreck happening in not-so-slow motion on Wall Street, as well as in markets across the globe.
"This is the same administration that wanted you to put your future economic security into this exact same market. If you can't trust them with Grandma's money, can you trust them with anything?"