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Week of November 16, 2008 - November 22, 2008

Not a word about this, no mention of "privatization"


Why haven't I seen this mentioned anywhere?

Those Republicans, Conservatives, Libertarians who still believe in less government involvement and regulation need to be confronted with how stupid was their push for private Social Security Accounts. If that had happened, more than 55 million people would have lost, at a rough guess, 40% of their benefit payments or the entire Social Security Program would be at grave risk. This points out:

. That government programs, like Social Security, are always badly administered as contrasted with private investment accounts or IRAs

. Investing in the stock market pays huge dividends in comparison to the stupid, badly-run government-administered social programs

. The enormous funds that investment houses, like Bear Stearns (remember them?), would have earned would have sustained them through the current crises

. The resultant revolution by those over 65 would not have serious social consequences in our country.

(Of course I'm being sarcastic by listing these points here.)

But the point is well-taken and no respectable Republican, Conservative or Libertarian would dare to mention privatization of Social Security today. At least until we've all forgotten the trauma that has been on-going as the stock market has tanked and continues to do so. Or, for that matter, letting investment companies alone as good ole Phil Gramm and Rush Limbaugh recommend, without any regulation or over-sight.

Disgusted with Congress, aren't you?



The stock market slips and falls and careens downhill, and the stories out of Congress (OK, in this case the Senate) are filled with indignation about how they broke their own rules applauding cconvicted felon ex-Senator Stevens and lauded him, like the tight, ineffective, incestuous, elitest club they are, while afterwards they leave and won't be back to even acknowledge the crisis in the downward spiral of stocks or to attempt to do something about it. No wonder they have such low rating.

"Do-Nothing" is a mild epithet for this pitiful group of Senators and Representatives. The media has no story about it; no indignation; only stories about their treatment of the Big Three Automakers. I, for one, am angry at how indifferent they all are, what a bunch of sheep they are, when it comes to the fundamentals of our economy. The stocks and mutual funds are part and parcel of most Americans' savings, their 401Ks, their IRAs, and the Congress walks out and doesn't even pay attention while Rome (in this case, the U.S.A.) burns.

« September 3, 2006 - September 9, 2006 | Home | November 23, 2008 - November 29, 2008 »

OCPatriot

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