And everyone thought I was kidding when I posted this: http://www.mail-archive.com/vortex-l%40eskimo.com/msg28652.html
Terry <shrugs> On Sun, Nov 9, 2008 at 2:08 PM, Mark Iverson <[EMAIL PROTECTED]> wrote: > > > Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs > > By Karen McMahan > > November 04, 2008 > > RALEIGH — Democrats in the U.S. House have been conducting hearings on > proposals to confiscate > workers' personal retirement accounts — including 401(k)s and IRAs — and > convert them to accounts > managed by the Social Security Administration. > > Triggered by the financial crisis the past two months, the hearings > reportedly were meant to stem > losses incurred by many workers and retirees whose 401(k) and IRA balances > have been shrinking > rapidly. > > The testimony of Teresa Ghilarducci, professor of economic policy analysis at > the New School for > Social Research in New York, in hearings Oct. 7 drew the most attention and > criticism. Testifying > for the House Committee on Education and Labor, Ghilarducci proposed that the > government eliminate > tax breaks for 401(k) and similar retirement accounts, such as IRAs, and > confiscate workers' > retirement plan accounts and convert them to universal Guaranteed Retirement > Accounts (GRAs) managed > by the Social Security Administration. > [snip] > --------- end quoted article ------------ > > Here's the link... > > http://www.carolinajournal.com/articles/display_story.html?id=5081 > > Granted, they are only 'conducting hearings' at this stage, but just the fact > they they are > considering this kind of proposal is scary enough... > > The local financial radio program quoted one comparison: > Parameters for average american: > - 40 year work span > - $60K/yr, investing 10% ($6K/yr) in a moderately conservative portfolio > - avg of 10%/yr appreciation over that 40 yrs > - avg of 3%/yr inflation > > At the end of the 40 yrs: > Current 'flawed' retirement system > $2.9M > Proposed 'share more of your hard-earned $' program... > $228,000 > > My only question is when will it become open season on Congress... Images of > daffy and bugs... It's > Duck season... No, wabbit season, no, Duck season... Wabbit season... You're > both wrong, its Donkey > season! > :-) > > -Mark > > > -----Original Message----- > From: Terry Blanton [mailto:[EMAIL PROTECTED] > Sent: Sunday, November 09, 2008 10:32 AM > To: [email protected] > Subject: [Vo]:Hyperion Takes First Orders > > http://www.guardian.co.uk/environment/2008/nov/09/miniature-nuclear-reactors-los-alamos > > Mini nuclear plants to power 20,000 homes £13m shed-size reactors will be > delivered by lorry > > Nuclear power plants smaller than a garden shed and able to power 20,000 > homes will be on sale > within five years, say scientists at Los Alamos, the US government laboratory > which developed the > first atomic bomb. > > The miniature reactors will be factory-sealed, contain no weapons-grade > material, have no moving > parts and will be nearly impossible to steal because they will be encased in > concrete and buried > underground. > > The US government has licensed the technology to Hyperion, a New Mexico-based > company which said > last week that it has taken its first firm orders and plans to start mass > production within five > years. 'Our goal is to generate electricity for 10 cents a watt anywhere in > the world,' said John > Deal, chief executive of Hyperion. 'They will cost approximately $25m [£13m] > each. For a community > with 10,000 households, that is a very affordable $250 per home.' > > Deal claims to have more than 100 firm orders, largely from the oil and > electricity industries, but > says the company is also targeting developing countries and isolated > communities. 'It's leapfrog > technology,' he said. > > The company plans to set up three factories to produce 4,000 plants between > 2013 and 2023. 'We > already have a pipeline for 100 reactors, and we are taking our time to tool > up to mass-produce this > reactor.' > > The first confirmed order came from TES, a Czech infrastructure company > specialising in water plants > and power plants. 'They ordered six units and optioned a further 12. We are > very sure of their > capability to purchase,' said Deal. The first one, he said, would be > installed in Romania. 'We now > have a six-year waiting list. We are in talks with developers in the Cayman > Islands, Panama and the > Bahamas.' > > The reactors, only a few metres in diameter, will be delivered on the back of > a lorry to be buried > underground. They must be refuelled every > 7 to 10 years. Because the reactor is based on a 50-year-old design that has > proved safe for > students to use, few countries are expected to object to plants on their > territory. An application > to build the plants will be submitted to the Nuclear Regulatory Commission > next year. > > 'You could never have a Chernobyl-type event - there are no moving parts,' > said Deal. 'You would > need nation-state resources in order to enrich our uranium. Temperature-wise > it's too hot to handle. > It would be like stealing a barbecue with your bare hands.' > > Other companies are known to be designing micro-reactors. Toshiba has been > testing 200KW reactors > measuring roughly six metres by two metres. Designed to fuel smaller numbers > of homes for longer, > they could power a single building for up to 40 years. > > <end> > > > No virus found in this incoming message. > Checked by AVG. > Version: 7.5.549 / Virus Database: 270.9.0/1776 - Release Date: 11/8/2008 > 6:49 PM > > > No virus found in this outgoing message. > Checked by AVG. > Version: 7.5.549 / Virus Database: 270.9.0/1776 - Release Date: 11/8/2008 > 6:49 PM > > >
