tag:blogger.com,1999:blog-33702370.post5901254706689223977..comments2023-09-16T05:32:26.647-05:00Comments on Satellite Sky: The Shape of WealthOkieLawyerhttp://www.blogger.com/profile/17071917464425173379noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-33702370.post-62194031597598120482006-12-04T14:29:00.000-06:002006-12-04T14:29:00.000-06:00I've found that most people really aren't cut out ...<i>I've found that most people really aren't cut out to manage things like stocks & bonds.</i><br /><br />I agree wholeheartedly. Fortunately, companies like Standard & Poor's are. And they do it essentially for free.<br /><br /><i>Pensions work much better.</i><br /><br />Oh, you mean pension plans like Delta's, which was so broke, it's being turned over to the PBGC? Tell that to the Bill Woessnerhttps://www.blogger.com/profile/08919844120431095879noreply@blogger.comtag:blogger.com,1999:blog-33702370.post-71102695088598582112006-12-04T13:32:00.000-06:002006-12-04T13:32:00.000-06:00I've found that most people really aren't cut out ...I've found that most people really aren't cut out to manage things like stocks & bonds. The folks I worked with during the tech run up put money into some basic accounts and never touched it or moved it around, even as the market was starting to drop. Pensions work much better. Social Security is not a perfect solution either. It requires a lot of workers to fund payments. I find it ridiculous Terihttps://www.blogger.com/profile/13382050215676302342noreply@blogger.comtag:blogger.com,1999:blog-33702370.post-60588124527868481482006-12-04T09:43:00.000-06:002006-12-04T09:43:00.000-06:00I, for one, cannot figure out what is so wrong wit...<i>I, for one, cannot figure out what is so wrong with creating guarantees for workers who have worked all their lives so that they can live out their last days in relative financial security.</i><br /><br />1) The "guarantees" are not guaranteed. Congress can decide at any time to alter the terms of the agreement. They did so in 1983 and they'll have to do so again in the future.<br /><br />2)Bill Woessnerhttps://www.blogger.com/profile/08919844120431095879noreply@blogger.com