[AgentR11]

Its not semantic, because not all work that provides subsistence will provide it in the form of cash payroll. A subsistence farmer/fisherman/scrounger works like hxxx, but doesn't have a job. The product of his work provides for his subsistence. Thus, counts, in my book.

[Lore]

Its not semantic, because not all work that provides subsistence will provide it in the form of cash payroll. A subsistence farmer/fisherman/scrounger works like hxxx, but doesn't have a job. The product of his work provides for his subsistence. Thus, counts, in my book.

I believe that the vast majority of new world economies have long ago given up on the hunter-gatherer society.

[dsula]

The problem is lack of money. No jobs. No income. Why? Hint? It begins with a P and ends with Oil.

There's tons of jobs out there, and with less oil, there's gonna be even more. Ton's of people required to scrape the barrel and tons more required to farm and scavenge where machine can't be used (anymore). We're looking at the golden age of full-employment to come.

[AgentR11]

hunter-gatherer society.

such an insightful comment given that I said nothing about hunter / gatherer.

farming
fishing
scrounging aka waste management

Are practiced right now, in modern economies, at this very moment.

[Lore]

hunter-gatherer society.

such an insightful comment given that I said nothing about hunter / gatherer.

farming
fishing
scrounging aka waste management

Are practiced right now, in modern economies, at this very moment.

Yes, and those are all jobs with the expectation of monetary compensation.

[Lore]

Nope. This is America. We do not go in for that sort of agrarian crap. Not when we have John Deere to take care of us.



We will be fed our mush in the morning, slop for lunch, and a big hearty bowl of porridge for dinner. Just like Snow White or Little Red Riding Hood.

You're expecting three meals a day!?

[Plantagenet]

The boomers were told they that were being "pre-taxed" to pre-pay their own retirement---Boomers have paid SS so much money it has 2.7 trillion in the trust fund right now. Only the trust fund is a fraud.


What the heck happened to the 2.7 trillion dollars in the SS trust fund?

Folks are starting to see there is a problem with SS and it needs higher taxes to pay for the boomers. Next they should figure out that Obama made this problem even worse by cutting the SS payroll tax by 2%-----any attempt to fix SS with higher taxes would first have to reverse Obama's SS tax cut.

[ian807]

Did it ever occur to you that some people got rich because they deliverd a product people wanted and are willing to pay for. And did it ever occur to you that some people wasted their life with poor choices and laziness and simply can't afford to retire?

Did it ever occur to you that some people got rich because they chose their parents wisely, and as a result, were well connected, and had no other talent than the manipulation of inherited capital to make more capital? And did it ever occur to you that some people were given a life where they were born poor, sick, without family or social support for education, or without opportunities for connection to the society of the wealthy, or that the only choices they had were poor ones, and simply can't afford to retire?

What do you figure? Just shoot those people after age 65?

[dsula]

Did it ever occur to you that some people got rich because they deliverd a product people wanted and are willing to pay for. And did it ever occur to you that some people wasted their life with poor choices and laziness and simply can't afford to retire?

Did it ever occur to you that some people got rich because they chose their parents wisely, and as a result, were well connected, and had no other talent than the manipulation of inherited capital to make more capital? And did it ever occur to you that some people were given a life where they were born poor, sick, without family or social support for education, or without opportunities for connection to the society of the wealthy, or that the only choices they had were poor ones, and simply can't afford to retire?

What do you figure? Just shoot those people after age 65?

No shiit, yes it occured to me that some people got lucky and inherited a fortune. Good for them, but such is the world. I'm born ugly and have no chance of becoming a hollywood star. Does that mean that the ones that made it have to pay me because I'm not blessed by nature?

The vast majority of millionaires gained their fortune by starting businesses and offering services and products that the rest of the population was willing to pay for. Hats off to them and they deserve every dollar they made. I went to university and lived thru the rise of the internet. I had EVERY chance to start amazon, ebay, facebook, google etc. But I didn't. I CHOSE to go to bars and have a good time with my buddies. So, I suck it up and doen't expect any of those companies to pay me squat because I didn't make it.

And I never advocated to shoot people after 65, but GOD-FORBID, such is life, if you can't afford to retire, you have to work. I'm sick and tired of this simple minded blaming the rich and corporation for everything and all.

[Lore]

It's not about being wealthy, it's about wealth disparity.

[dsula]

It's not about being wealthy, it's about wealth disparity.

Correct. And the solution is not to tax the rich, but to setup a framework of law and society that amassing a rediculous fortune is not possible in the first place, e.g a combination of:

1. limit the size of corps
2. limit the lifespan of corps
3. limit what companies can own (e.g holding companies should not exist)
4. limit 'gambling' type investment

Taxing somebody at 80% or higher is simply too great an incentive to cheat. And once again, who has the best connection and can hire the best lawyer will cheat the best. So limiting the income/wealth beforehand is a much better approach.

[Cog]

By all means. Confiscation of the wealth of the rich will make them work twice as hard to provide for the mooch class.

I'm not sure why this AIG CEO's comments have everyone's panties in a twist. He is merely stating the obvious, that medicare and social security are ponzi schemes and will not be paid. Get over it and embrace a future that pretty much sucks.

Sixstrings will have to take in his sick relatives or leave them on the curb. Perhaps I will give them a cot and put them to work cleaning my floors or something. I won't even chain them up at night if they promise to be quiet and mind their betters.

Medicare will go broke within a short amount of time, followed by social security. If you didn't see that coming, you haven't been watching.

[SeaGypsy]

It amazes me too that 6strings has been around here so long without getting it that the social security and pension systems will definitely collapse. It doesn't matter much which retirement plan you are on, if you look at the basis of projected returns, they are impossible without exponential overall economic growth. Bottom line seems to be that if you want to have something like 'retirement' better get control of whatever assets you have and make them productive, because they are not going to remain so tied up in the mainstream investment system.

[newman1979]

The SS and Medicare laws were on the books and have been since 1937 and 1965. A ponzi scheme is a fraudulent scheme by definition. It requires a misrepresentation of a material fact. Nothing has been misrepresented,it's the law.You watch too much "Fox".
Get a life Cog. This AIG guy that is nothing more than a glorified welfare queen because without a Government bailout, AIG would not exist. He should be summarily fired.