Orgy stated, ”Why would USA citizens (or others) want to hold their money in a branch of Bank of America?”

So, what would our 300 Club readers feel would be their biggest concerns about America and citizens retirement?”

Let’s try to provide a selection of their possible answers, below...

1. The debt of the USA government keeps building up.

2. The lack of concern government leaders has in controlling spending (they seem to only care about what they need to do to get re-elected).

3. The financial illiteracy of most Americans.

4. How naive Americans are to what they seem to hear from mainstream media in the US. During the cold war era, they learned about how bad median propaganda was in Communist countries. What is concerning now could be that today it appears they are being fed what a few government officials want them to hear, which may not be the truth (and it seems like most Americans “can’t handle the truth”).

5. So, what does politicians and their supporters really want to do to the US? Well, it appears to us outsiders, like they are heading the USA citizens down a 2-class society. Do the citizens really want that or do they not really care?

And here’s another, somewhat more succinct view but nevertheless along the same lines:

1. Loss of personal freedom.

2. Confiscation of a citizen’s 401k.

3. Stealth confiscation of spending power via inflation.

4. Being a victim of organized government wealth re-distribution.

Government recklessness, it seems, is a concern shared by many.

Look, the USA Federal government is fundamentally broken, that very few, if any, in D.C. understand or are capable of understanding, that even fewer have the political will to do anything about it, that even if anyone did have the political will, the electorate cannot and would not be able to accept or tolerate solutions that would address the ROOT cause(s) of the problem(s).

It is far more serious than just trying to fix or patch the economy. It isn’t just the financial system; it is the entire way that the USA government does business. The governmental organizational structure surely needs to go through a complete re-organization from top to bottom and bottom to top.

Does it not appear that they have been ushered into a class envy environment versus the [belief that] everyone can achieve the American Dream? This change in cultural direction, while appealing to the masses, is not being challenged by the ‘thinkers or media pundits,’ who all seem hell bent on destroying the mere concept of the American Dream. In the past, society turned to their families and their churches, today the US citizen turns to Uncle Sam. Would not USA citizens prefer to be accountable for their own welfare?

Ahh...and there it is! A clue...

Turning to Uncle Sam is not going to work for much longer. Firstly, because Uncle Sam is broke. And secondly, because he’s not the friendly old’ uncle they remember growing up. Now he’s a snarly old drunk. Paranoid, psychotic and deluded in his old age.

He’s no help, in other words.

But still Orgy, many, many USA citizens continue to put their money in the Bank of America.

(Thanks to the Daily Reckoning for ideas pertaining to above.)