Sunday, May 22, 2005

Hello Posted by Hello

Perilous Stock Market Gambling Is Not for Working Americans.
Many lost huge chunks of their 401ks during the 2000-2001 Stock Market plummet and now their GM bonds are turning into junk. George W. Bush maligns the 70-year-old Social Security insurance program as welfare and wants to trade the secure retirements it provides all Americans with gambits into the volatile Stock Market. His insane scheme is a rout to disaster for the elderly, and is, in truth, a ruse to dismantle Social Security. All bets are off for the viability of his private retirement accounts because looming ahead are daunting economic obstacles that will surely depress the Stock Market and even possibly crash it. Included are the George W. Bush unprecedented stratospheric federal deficit, China and other countries buying up our national debt and assets, the shrinking and dumping of the dollar by other countries and the crippling U.S.-China trade imbalance. Further economic impediments are the peak production of oil resulting in skyrocketing prices that inflate the cost of everything, the ongoing massive offshoring of high paying U.S. jobs, corporate corruption and monopoly, eroding pay and benefits as well as working conditions for American labor and massive consumer debt. Finally, not least of economic barriers are George W. Bush lusting for an American empire dominating the world by endless budget-busting military excursions and the incalculable economic consequences of climate change due to global warming.

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