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Tuesday, April 19

Working Poor Don't Buy the Bush SS Scam

Nor should they.

This is the most ridiculous thing I have ever read (WaPo):
In his push to add individual investment accounts to Social Security ,President Bush maintains that people like Ellis have the most to gain -- the working poor, living from paycheck to paycheck. With such accounts, they would have a nest egg they could invest in stocks and bonds and watch grow with the benefit of compounding interest. For the first time, they would have a sense of ownership and a stake in their nation's economy and financial markets.
How dare he? How dare he? Yeah, and when the markets tank, they can lose their nest egg and be the homeless retirees and the bushistas can tell them how marvelous it is that they at least had a chance at becoming like the wealthy elite.

So how does the White House Propaganda Machine™ attempt to play into the hearts of the working poor or the less financially inclined?
I'm 1,000-percent convinced of this: The president cares the most about this $10-an-hour person," said Allan B. Hubbard, director of the White House National Economic Council. "And what he gets most irritated by is when it is suggested, 'Oh the $10-an-hour person isn't sophisticated enough to deal with a personal retirement account.' "
Oh that is just Marketing Propaganda 101, if I ever saw it. Most citizens do not have any idea of how the markets work nor do they care to learn. I was a broker and a trader before I became a mommy and even my wealthiest clients didn't have a clue. Some of the most "sophisticated" investors lose their shirts. This is a crap shoot and shouldn't be forced on society.

The working poor, according to this article, don't buy the lies. They aren't stupid. And certainly if you are working full time and still poor, you have other things to worry about besides the stock market. If the fascists really gave a shit, they would have mandated that No Child Left Behind forced the schools to start teaching economics in elementary school.

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