Economy
Related: About this forumIf Romney gets in.
And we have to consider that possibility, we at DU have an advantage over most of those who vote for Romney. They believe that he will do what he says, which they believe is in their best interest. We know what he actually will do. He's a vulture capitalist and he's good at it. It's what he knows. All the extra stuff such as tax cuts, women's rights and health care are just distractions.
It's all about the money. The BIG money.
So I would expect a lot of privatizations including Social Security. And they will sound good. They will make sense. The Government will save money, the deficit will drop and privatized SS account holders will see good returns. The markets will rise and equity and bond markets will do well. I would expect the development of some sort of Special Investment Vehicles for SS Account holders to transfer their assets into. Like HSA or College Tuition plans. Some of these Vehicles will be run by reputable firms who have their customers best interests at heart and profit from millions in management fees.
But to Romney and his friends, why collect measly $million$ when you can manipulate the system and steal $billion$? After all, wiping out and pocketing what others have actually worked for is their expertise.
So as the wingnut money flows into the markets, the markets will rise. This money which is restricted to these special investments will do well because as they do well, they suck in more money. It feeds itself. These special investments will be sold to investors as "safe investments" and you can expect them to be the backing for leveraged ETF's and perhaps a new class of derivatives.
At some point the bubble will bust and the investors (and the SS account holders) will see their value plummet. At this point the vultures (Romney's buddies) will buy the funds at pennies in the dollar. Investors and the foolish Romney voters who put their SS fund at risk will demand a government bailout. And they will get it. These investments will now recover some of their value and Romney's friends will walk away with $billion$, perhaps even $trillion$.
At this time the Repubs are talking about voluntary participation in the private SS Accounts. But we all know about "free will" and how choices are manipulated. If you don't join this parade, you will be left behind and laughed at. Your friends will retire well-off.
When the banks were deregulated in 1999 it took about five years before people figured out how to game the system for the big profits that led to the financial collapse of 2008. It's your choice.
no_hypocrisy
(46,182 posts)to frustrate his ambitions to privatize, increase the military budget, give tax breaks to the 1%? Will the democrats risk being called obstructionists by republicans?
JackN415
(924 posts)no_hypocrisy
(46,182 posts)painted with the label obstructionist.
bananas
(27,509 posts)We People
(619 posts)no_hypocrisy is right. One of the biggest challenges dems face is to not allow goppers to intimidate them. They REALLY need to work on this. Obama is getting better and needs to continue working on this. It used to catch our people off guard, but they need to learn to expect it and not be thrown off kilter by partisan bullying.
jpank
(4 posts)While our economy was going down the tubes, the Republican were blocking proposals that they themselves had made. -- just to make sure that that the economy would not recover --- so that they could talk about how bad the economy is during this election.