Thursday, 30 January 2014

a,e i-o-u (and sometimes y)

As the hyphenated prefixes i- and e- are mostly claimed by private, the US government has grown fond of the old fall-back my for a lot of its self-service applications, mostly cordoned to the vast community of conscientious bureaucrats.

Now the American administration, just as the Affordable Care Act is finding its sea-legs, is introducing the so-called MyRA—for an individual's own individual retirement account (IRA). In other words, the US president wants to afford people the opportunity to supplement their statutory pensions with low- to no-risk investment vehicles for workers who don't have that benefit from their employers, whom are in the majority. I am constantly astounded how the opposition hounds and hobbles best intentions and usually pervert them into something other—like ObamaCare that can sadly now never live up to its expectations, saddled with various riders. I do, however, see rather soberly the outcome of such a surprising and gregarious act. As the very public and autonomic gesture of quantitative easing (read printing money) is rather unpalatable for the trading-houses that would manage these contributions of new and universal investors, it's surely a welcome cover for, I could see this diverting becoming, a mean to absorb US debt outside of such an unsustainable model, and enables business as usual. I do hope hope that the nay-sayers are wrong with this assessment.