First ObamaCare and now Obama Fund
Treasury rolls out a new savings plan without a Congressional vote
Hey, kids. Uncle Sam has a new investment offer for you. Even if you have several decades of productive work ahead—and thus a long investing time horizon—the White House wants you to consider a retirement plan that will invest in nothing but U.S. government debt.
Any financial professional who advised a young investor to avoid stocks and corporate bonds—and everything else except Treasury bonds—would be sued for malpractice. But asset allocation is merely one of the problems with the new “myRA” fund rolling out from the Treasury this month.
Seniors got screwed by the housing bubble Crash. then by the phony Fed Reserve 0% fund and now the Treasury rolls out a new savings plan called ‘Obama Fund’…
Collapsing home prices, tight credit, dwindling investment…
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