Fitch warns on US AAA rating and wants your 401k plan!
"the picture is deteriorating fast enough to ring alarm bells."
"Fitch expects the combined state and federal debt to reach 94pc of GDP next year, up from 57pc at the end of 2007. Federal interest costs will reach 13pc of revenues, meaning that an eighth of all taxes will go to service debt. Most fiscal experts view this level as dangerously close to the point of no return for debt dynamics. "
JFC - scary stuff. hopefully politicians wake up soon. Send a wake up call to Washington.
Americans Oppose Initiatives Limiting 401(k) Choices, ICI Says
JFC - And politicians want your 401k plan to make up for their social security fiaso.
"U.S. investors oppose federal initiatives that would force them to give up control over their 401(k) accounts, the Investment Company Institute said."
Got gold? Gol silver? Got guns? Got butter?