GWB and the "Ownership Society".

[BlueStreak]

http://en.wikipedia.org/wiki/Ownership_society

http://www.thedailybeast.com/newswee...p-society.html

http://www.tompaine.com/articles/wha...ip_society.php

So, here we are seven-eight years later. How did it work out?
Pretty dismal failure from the looks of it. And if the conservative dream of eliminating government programs such as Social Security and Medicare are ever realized, I would imagine a similar and equally crushing failure would follow.

You see, the fantasy is that left to their own intelligence and where-with-all, the average American will do far better without any sort of guidance from government directly or even in lieu of the government pressuring employers to "handle it".

The fact is, IMO, that while some may do okay, and a handfull might even excel, (I would argue that those "some" would excel in any case.), many have neither the knowledge, aptitude or inclination to amass the necessary wealth to acheive financial independence. And never will. That's just reality.

Just as easing regulation in the housing industry led to collapse, due to people getting in way over their heads, elimination of "safety nets" will also lead to similar disaster.

(Picture armies of elderly, who have no pension, no SS, no way to pay their own medical bills, and a scant pittance in thier 401ks, if they have any savings at all and children who are unable or unwilling to support them-----stepping into the voting booth.)

I'm sure some of you will explode after reading this, and accuse me of "trolling". This is not my intention. I'm just interested in seeing everyones thoughts on this rather "core" point.

We created some things for a reason. I think eliminating them will be the surefire way to find out what that reason is. Kind of like when a redneck shouts "Hey y'all, watch this." just before he breaks his own back doing something stupid.

Dave

[barbara]

Blue.... Interesting analysis. I work with the elderly and this last year I conducted a needs assessment survey in my county. The results indicated that the elderly (and those approaching old age) in my county are worried about how they are going to survive financially in their sunset years after losing their assets during the economic downturn.

[Bigerik]

The problem with removing regulation is that there is a huge imbalance of knowledge between those selling a product and those buying them. Contracts are written by teams of lawyers to protect the interests of the seller. Months are taken to go over every single word to ensure that everything is said that needs to be, and nothing that needn't be said. Against this, you put a person who might see these agreements once in their lives. They don't work regularly with them, so many of the nuances of what is being said might escape them.
It seems that those who advocate a wild west approach expect a plumber or mechanic to become a lawyer or economist when the need arises, and then go back to being what they are in their every day lives. The world just don't work that way.

[merrylander]

Reading "Winner take all politics" it took 30 years for the politicians and lobbyists to rig the system for the benefit of the 1% and will likely take another 30 years to fix it. In the interim the 99% have no hope in hell of amassing enough money to see them through retirement. Maybe Richard Lamm was right, we old people have a duty to die off.

[BlueStreak]

Originally Posted by barbara

Blue.... Interesting analysis. I work with the elderly and this last year I conducted a needs assessment survey in my county. The results indicated that the elderly (and those approaching old age) in my county are worried about how they are going to survive financially in their sunset years after losing their assets during the economic downturn.

Precisely, barring untimely death, aging and growing dependent on others is assured. The market is fickle and unreliable.

In other words; We will all get too old to give chase, and the free market is a greased pig. The slickest of them all.

Dave

Oh, BTW, "Blue" is okay. "Dave" is even more okay.

[d-ray657]

Originally Posted by Bigerik

The problem with removing regulation is that there is a huge imbalance of knowledge between those selling a product and those buying them. Contracts are written by teams of lawyers to protect the interests of the seller. Months are taken to go over every single word to ensure that everything is said that needs to be, and nothing that needn't be said. Against this, you put a person who might see these agreements once in their lives. They don't work regularly with them, so many of the nuances of what is being said might escape them.
It seems that those who advocate a wild west approach expect a plumber or mechanic to become a lawyer or economist when the need arises, and then go back to being what they are in their every day lives. The world just don't work that way.

Very well put.

Regards,

D-Ray

[BlueStreak]

Originally Posted by Bigerik

The problem with removing regulation is that there is a huge imbalance of knowledge between those selling a product and those buying them. Contracts are written by teams of lawyers to protect the interests of the seller. Months are taken to go over every single word to ensure that everything is said that needs to be, and nothing that needn't be said. Against this, you put a person who might see these agreements once in their lives. They don't work regularly with them, so many of the nuances of what is being said might escape them.
It seems that those who advocate a wild west approach expect a plumber or mechanic to become a lawyer or economist when the need arises, and then go back to being what they are in their every day lives. The world just don't work that way.

Originally Posted by d-ray657

Very well put.

Regards,

D-Ray

Yes, very well indeed. I concur.

Dave