MF Global and Privatizing Social Security

And how will The Penn State scandal affect Greek citizens buying into austerity?

If the last 4 years has not scared people away from privatizing SS, nothing will.

Socialist:

Can you spell S-O-L-Y-N-D-R-A for mw

anyone know anything about the guy who ran MF Global? What did we do before that position?

If I could channel Larry Summers he'd say this is the best time to privatize social security. He'd probably say with the markets down, the future returns would be so much more. After all markets don't stay flat for 20 years, only 10.

I'll take the privatized route. Look what gov't can do?
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Portugal raids pension funds to meet deficit targets
Portugal has raided €5.6bn (£4.8bn) of pension fund assets in a controversial scramble to meet its deficit targets.

http://www.telegraph.co.uk/finance/financialcrisis/8932687/Portugal-raids-pension-funds-to-meet-deficit-targets.html

I would at least like the option to manage my own funds. Why not offer that at 60 or 65? This may be selfish though, I trust my ability to manage the funds and accept that responsibility. Based on the way many people handled their mortgages, maybe this would not be such a good idea.

who cares about SS anyway? it's going to be bankrupt by the boomers, 10k retiring / day.

If the past 4 years has shown anything, it is that we should definitely privatize social security:

As a quiet example of how privatizing Social Security works in the real world, Chile%u2019s 30-year experiment is succeeding beyond expectations. Instead of running huge deficits to fund the old %u201CPayGo%u201D system, private savings now exceed 50 percent of the country%u2019s Gross Domestic Product.

http://thenewamerican.com/world-mainmenu-26/south-america-mainmenu-37/7344-chiles-privatized-social-security-program-is-30-years-old-and-prospering

The difference between private vs public is knowing vs not knowing. With Social security you never get a statement of the market value of the assets backing up your retirement, so when the shit hits the fan, the gov't will just increase the retirement age, change the cola formula etc. With private savings, you see your 401k assets decline which gives you the opportunity to either change portfolios or increase your contribution rate.

"With Social security you never get a statement of the market value of the assets backing up your retirement"

Uhh, you mean like this:

http://www.ssa.gov/oact/tr/2011/tr2011.pdf

?

Actually, we all get one every year about how much we can expect to get based on our life to date earnings. Customized for each person. I know exactly how much I am getting.

You probably get disability income, something the rest of us don't receive.

That is interesting jordyn, but a statement of the expected future returns or a gov't estimate of a gov't estimate of the present value of the assets or liabilities, with all its imperfections, is not the same as a mark to market value of your share of the assets

really? you go on and on and on and on about corzine. how about his customers---how good was their statement?

really? you go on and on and on and on about corzine. how about his customers---how good was their statement?

hey riversider: does this fuckhead speak for you?

What's the matter columbiacounty? I agreed with you. Why can't we just get along? What's wrong with you and me, together, disagreeing with riversider and agreeing with each other? Maybe you and I are really more alike than we like to admit. Let's be friends columbiacounty. You and me against the world.

so riversider, he does speak for you. ouch.

come on columbiacounty, first of all your conclusion isn't supported. Second of all, let's get a long. You and me. How about we try it for a week and see how it goes. You and me against the world. Like two peas in a pod.

ok riversider. game on.

columbia, let's meet halfway. Tomorrow morning we can have breakfast at the Denny's in Newburgh and work out a plan. Sound good?

So...you are Riversider? I knew it.

I'll bring the bagels you like and always complain that you can't get up there, but please don't eat them while we are at the Denny's.

oh poor you....poor riversider. shove the cream cheese.

columbiacounty, you are too focused on who I am and not enough on what I can do for you. I can make things happen for you, I can turn your life around once and for all, make you SOMEBODY for a change. All you have to do is meet me, we can discuss our plans together. If you don't agree, the bagels are yours to keep with no further obligation.

tell us more.

Is 10am too late? I'll be in the back booth on the side by the cashier.

how dumb and stupid are you? how low will you go?

columbiacounty, in just 14 hours, you'll be signing a different tune.

that sounds like a clear threat. why don't you spell it out? or what?

ok I get it, you play tough guy here for now. Good strategy. Shhh

or what?

Shhh. Wink wink.

See you tomorrow 10am for breakfast.

Which kind of bagels did you say you liked? The ones with the raisins?

you threatened me. why don't you spell it out?

Wink wink. I get your code phrases. Wink.

more happy horseshit from you. spell out the threat. or stop.

Great, I'll see you tomorrow, remember, 10am at the Denny's in Newburgh. I'll bring the bagels you like.

all talk.

no action.

asshole.

Good going, keep playing tough guy. No one will figure it out.

[see you 10am at the Denny's, I know you are excited!! So am I!!!!]

you will say anything to keep it going. good luck, riversider.

ok I get it, no more talk until we see each other in the morning. Good strategy. Wink Wink

be aware of riversider....a known liar.

I agree, shhh, remember, you and me against Riversider. We'll work out all the details tomorrow. Then you and I, together we'll be indestructible. Together, columbiacounty and huntersburg!

be aware of riversider....a known liar.

Wink wink

be aware of riversider....a known liar.

wink wink wink!

columbiacounty, something is wrong with my reception, I can only receive text messages, not send. I'll bring garlic bagels instead of the cinnamon ones. I understand your point about the vampires - you and I can work out a plan for them too, together. They won't bother you no more.

Unfortunately, today at 10am, columbiacounty did not meet me at the Denny's in Newburgh.