Posted on 02/04/2010 11:34:53 AM PST by Welshman007
Bump
I would contend that our gov has a sparkler in each hand and one between each toe. The abuses abound and a harder look at many of those abuses are discussed here.
http://www.financialsense.com/fsu/editorials/2010/0122.html
A very scary article yet difficult to argue with.
If this crap continues , and citizens grow a couple , I see a Bastille II on the horizon. Seems like all the oppressive government ideologies my dad fought against in WW II are becoming the USA. I can honestly say that my sons aged 30 and 27 share the same views as my wife and myself. They are both well employed( who knows what tomorrow will bring ) and resent supporting people who live off the golden teat of the welfare state with THEIR skyrocketing tax money .
1) They take functional "control" of the accounts, enough to convince foreign governments that they can seize the accounts to back up the value of US Treasury debt if they need to. This may help keep Treasury debt sellable in world markets.
2) Word leaks out and enough 401K holders cash out and pay the taxes early that tax revenues get a short-term bump and the crisis is kicked down the road a year or so.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.