if anything, those with a basic understanding of the financial markets, regulation, and US accounting and reporting policies sohuld realize a few things.
1. bush inherited the market dip. it started b4 he even won the presidency the first time.
2. it was primarily due to the clinton admin(not the man himself) and thier policies of allowing extremely overstated financial statements and loose stock/bond offerings regulations.(see enron)
3. thank whatever god you worship that it happened when it did b/c if the market had gotten any more over inflated, history tells us a even larger panic could have ensued and lead to a much larger recession.
4. the policies instituted by the SEC/FASB/AICPA (particularly down the line with Sarbanes Oxley act's future adjustments) have made the market a lot more concrete by leaps and bounds. you now have more reliable research and ALOT more accountablilty to those who prepare and supply the materials for said financials.
and in regards to the social security policies. IMO, you'd be stupid to oppose this. at least this enables you to hold your future in your own hands. most people think that it means putting cash into risky stocks. dont. want proof? go out and buy the same governmental inssued bonds, and you actually make more money because you avoid the tax on SS down the line due to the fact that federal bonds are 100% tax free. the tax on SS(up to 66k in NY) can range from 7%-32% bepending on the income of your spouse. also, you are entitled to go out and buy a risky stock, for instance, google which opened at 85 and as of right now is 198.46. you doubled your investment in 2 months with that. its all about the options and locking yourself to YOUR money. if you dont get these locked in accounts, you dont stand a chance of seeing the money after 2020.
1. bush inherited the market dip. it started b4 he even won the presidency the first time.
2. it was primarily due to the clinton admin(not the man himself) and thier policies of allowing extremely overstated financial statements and loose stock/bond offerings regulations.(see enron)
3. thank whatever god you worship that it happened when it did b/c if the market had gotten any more over inflated, history tells us a even larger panic could have ensued and lead to a much larger recession.
4. the policies instituted by the SEC/FASB/AICPA (particularly down the line with Sarbanes Oxley act's future adjustments) have made the market a lot more concrete by leaps and bounds. you now have more reliable research and ALOT more accountablilty to those who prepare and supply the materials for said financials.
and in regards to the social security policies. IMO, you'd be stupid to oppose this. at least this enables you to hold your future in your own hands. most people think that it means putting cash into risky stocks. dont. want proof? go out and buy the same governmental inssued bonds, and you actually make more money because you avoid the tax on SS down the line due to the fact that federal bonds are 100% tax free. the tax on SS(up to 66k in NY) can range from 7%-32% bepending on the income of your spouse. also, you are entitled to go out and buy a risky stock, for instance, google which opened at 85 and as of right now is 198.46. you doubled your investment in 2 months with that. its all about the options and locking yourself to YOUR money. if you dont get these locked in accounts, you dont stand a chance of seeing the money after 2020.
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