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ole joyful's rant to local federal Member of Parliament's office

Posted by joyfulguy (My Page) on
Thu, May 17, 12 at 16:20

Won't reiterate here - but check it out over on "Kitchen Table, under title of "My memorable week-ago Wednesday morning" or something similar.

Best do it soon after today, May 17, as the pages move about a page a day, over there, so it'll drop off of p. 67 in 2 - 3 months, likely.

The compliance officer overseeing the work of my mutual fund guy criticized him for allowing an old guy over 80 to be willing to accept "moderate" risk in his investments, aiming at "growth" ... which is what he should have done ... but my advisor argued, saying that his 80-year-old was familiar with investments, and knew what he was doing. So they had me initial those choices that I'd made.

Then I visited a local (federal) Member of Parliament's office to ask whether they knew how our government's shooting many of their citizens in the foot, especially seniors. (They recently rescinded a former law requiring the registry of long guns - we've had one regulating pistols for decades).

Basically, in setting interest rates low, meaning that many are getting minimal return on investments ... as are many pension funds.

While printing money ... which, sooner or later, brings inflation ... which reduces the value of one's dollar-denominated assets.

ole joyful

Follow-Up Postings:

RE: ole joyful's rant to local federal Member of Parliament's off

moving down...

RE: ole joyful's rant to local federal Member of Parliament's off

And the government, having racked up huge debts, doesn't want to pay high rates of interest on those loans, so keeps interest rates low.

In Canada, that currently low interest income is taxed at the highest rate.

Until six years ago, dividend income on Canadian stocks was taxed at a lower rate, and since then even lower still ... and current dividend rates on a substantial number of stocks is higher than one earns as inteerest.

If the number of dollars invested can't shrink ... it can't grow, either.

So one must put part of current earnings with the principal in order to maintain purchasing power.

What's left is what one gets on which to live.

ole joyful

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