If Obama gets elected and congress becomes majority Democrat, we only have to look at Argentina as a case study of what might happen. As an editorial in IBD shows, Argentina is publicizing a lot of private savings to pay for its debts and to “protect” people.
So what happens? You only have to look at what their MERVAL index did recently. On news alone of nationalizing private pensions, the indexed tanked. And that was just on the news.
Take a look:
Source: IBD
Further Reading
Tags: retirement, taxes
October 24th, 2008 at 5:48 pm
i was stunned to hear our congress would even discuss such a thing. had no idea argentina already did it.
can you imagine us angry racist rednecks clinging to a bible in one hand and a gun in the other marching on wdc?
scott’s in my writing group – saw his recommendation for your site. hope it goes well for you. added you to my blogroll.
October 26th, 2008 at 5:57 pm
Thanks for stopping by Clyde! I added you as well.