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[personal profile] pyat
Thanks to [livejournal.com profile] normanrafferty for the link.

Remember when George W. Bush tried to sell the nation on the idea of investing social security funds in the stock market?

Date: 2008-10-10 03:20 pm (UTC)
From: [identity profile] dagoski.livejournal.com
That defeats the whole "security" part of Social Security. I've got a pretty fat 401K account. Or at least I did. I lost $30,000 in the past week. These are virtual dollars for me since I have a minimum of 20 years working ahead of me. It's not such a big deal for me. But, were I ten years older, this would be a real worry. Were I sixty this year, I'd be very scared because the loss would mean something like ten years less living expenses.

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