July 25, 2011
Is Your IRA Going To Be Raided?
The notion of government raiding personal retirement accounts for funds may seem extreme. Perhaps it shouldn't. Other governments have done it. Argentina did in 2008. Ireland has indicated it might. The worsening financial crisis may eventually move other countries in that direction. Surely the US would never do so. Actually, there is little basis for assuming they would not and factual evidence they would. Here are three good reasons to believe they would: Financial Ratios The US financial ratios are arguably as bad as the weakest countries in Europe. Unlike Europe, the US government has shown no willingness to meaningfully cut government spending and/or balance the budget. Europe has signaled austerity programs, although time will determine whether they adhere to such programs. Rule of Law All modern governments believe they are above the law. They justify violation of the law on the grounds it is necessary for the...(Read Full Article)