A Quote by Tony Snow
In other words, Social Security is every bit as insecure as the stock market.
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I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.
The stock market has gone up and if you are stock picking, that's fine, you may do a bit better than the market. But if you want to play in another game where you can get rapid increases of value and so on and so forth, this apparently has become the new parlour game, to invest in these companies and many their cases, the private equity that has been piling in onto of the venture capital is creating the unicorn, in other words the company with the $1 billion valuation.
Stock market risk is ok, but not for Social Security.
Speculators are obsessed with predicting: guessing the direction of stock prices. Every morning on cable television, every afternoon on the stock market report, every weekend in Barron's, every week in dozens of market newsletters, and whenever business people get together. In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a purely speculative undertaking.
First of all, the Social Security money belongs to Main Street, not to Wall Street. It needs to be said very clearly here that privatization is off the table... Social Security, as a matter of fact, is a better investment now than the stock market. There's a higher return. There's guaranteed cost-of-living increases. Privatization you have to worry about the value of your account.
Do I want to see people take their Social Security payments and put them into private accounts, open up an eTrade account and go into the stock market? Absolutely not.
The security of computers and the Internet is a horrible and dangerous mess. Every week we hear about breaches of databases of Social Security numbers and financial information and health records, and about critical infrastructure being insecure.
I'm dubious about having Social Security put into the stock market. I think that we have gotten very far away from the idea that there's something sacrosanct about retirement investments.
The correct attitude of the security analyst toward the stock market might well be that of a man toward his wife. He shouldn't pay too much attention to what the lady says, but he can't afford to ignore it entirely. That is pretty much the position that most of us find ourselves vis-à-vis the stock market.
An index fund is a fund that simply invests in all of the stocks in a market. So, for example, an index fund might invest in every single stock or almost every single stock in the U.S. market, it might invest in every single stock abroad, or it might invest in all of the bonds that are out there. And you can make a perfectly fine investing portfolio that mixes equal parts of all three of those.
Even people who feel perfectly comfortable investing in the stock market and owning their own homes often have qualms about individual medical accounts or Social Security private accounts.
[Social Security ] is not in crisis at this stage. Leave Social Security alone. We have a lot of other places we can look that is in crisis. But Social Security is not.
You know, Floridians, we've paid into Social Security. Like a lot of other government programs, we sent money to D.C. We expect to get that money back. We expect that our Social Security is real. So, we have to fix Social Security.
Republicans are suggesting that you take your retirement money and invest it in the stock market to take care of yourself but that leaves you with choices that you may not know anything about. The purpose of social Security is that you don't fall through the crack and find yourself destitute.
The Stock Market was down today. Two major businesses declared bankruptcy, consumer spending is at an all time low - in other words, Bush is back on the job.
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick.
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