myRa

"They are going to take you."
--Bryan Mills (Taken)

The Treasury purchase plan proposed by the president during his State of the Union speech carries a label that only bureaucrats would be willing to stand behind: 'myRa.'

An additional point to those made previously. As China, Japan, and other foreign buyers curtail their Treasury buying, the federal government is looking for alternative sources of demand beyond the Fed-induced ponzi. Who better than uninformed 'savers' who ignorantly place their trust in the State?

To the extent that those at the bottom of the social pyramid actually participate, this scheme will separate these people from their money, thereby further distorting income and wealth distribution.