I read on the internet this interesting article proving that having your retirment funds in private hands can be much more dangerous than with the government . Please read it and be disgusted by the criminals who are gambling all your monies away. Click on link to read the full article.


http://www.wsws.org/articles/2008/no...supe-n18.shtml

Can't you just sum it up for us?

To sum it up the article states that millions of retirees around the world are losing their future retirement savings. This to me is unacceptable as the compulsive gamblers of wall street have destroyed the future of many here.

Pericles, why don't you provide a source for the article? Does the world socialist website (wsws.org) come to mind?

viva la revolution!

Christy! Of all the garbage that is being printed about global financial crisis this is pap.

I don't want to buy into the capitalism bashing, because there are greater evils in the world than retirees losing some cash. For some context and a grand generalisation, the generation that is losing their money (on paper) is the generation who had free university education, cheap housing, and under the Howard Government received billions of dollars worth of subsidies and tax breaks to buy the "grey vote".

I live in Australia and am moving to BsAs next year - I read this forum to see what's up in BsAs. However, some members in particular post about the most peculiar topics, to justify and sustain some of sort ideological war - on what? Perhaps the chip on their shoulder.

Cry me a river.

Stick attack does it matter if the World Socalist Web wrote this article? The fact of the matter is the information there is well substantiated and will affect millions of potential retirees in Australia who are going to lose their retirement funds.

In regards also to your comment that you do not care that the retirees will lose their money . I find this a callous statement as very soon many of them will and this does affect me personally as I Stick attack am Australian and have many dear friends and family in Australia.

I have provided the link on my original post.

Pericles,

Thank you for your response.

I never said that I "do not care that the retirees will lose their money" - look at what I wrote: "there are greater evils in the world than retirees losing some cash".

It is important to provide a source for any article as it is misleading. This is because while the information may be well substantiated, the theoretical position that sustains the information, and the argument, is critical in developing a response to the article.

Furthermore, I think that using simple binaries to understand this "global financial crisis" such as public/private, capitalism/socialism, free market/intervention, do not necessarily assist in developing greater understanding. It only serves to entrench positions the "ideological wars" I was referring to.

I am aware of the situation of the pension nationalisation in Argentina. I simply do not think that a "government = good/private = bad" interpretation of the situation is useful, or relevant.

I apologise if my comments seemed callous, there is a lot of antipathy among my generation toward the previous one.

Well put stickattack and welcome to the forums (you may feel like the proverbial sore thumb here if you keep posting such flagrant examples of common sense)

Pericles, maybe anything in private hands is more dangerous than in the hands of the government. Individuals can not be trusted. People can not make decisions for themselves. The governments must free them of their awful responsibilities.
Right? The Soviet Union comes to mind as a great example...

And in support of this, we all buy Chinese goods, don't we?

I try very hard not to. It's extremely difficult.