Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: AC Flyer who wrote (21630)	7/25/2002 6:48:56 AM
From: Snowshoe	Read Replies (2) of 74559

The reality is that the so-called social security crisis disappears with a stroke of a pen by making very minor changes in the various underlying assumptions regarding the inflation rate, economic growth rate, starting age of eligibility for social security, etc. True. All the government has to do is fudge the CPI/GDP stats and raise the retirement age. Presto, the problem is solved! Far from there being a crisis, the US is better positioned to support its retirees in 2020 than almost any other developed country, due to its relatively youthful demographics and more importantly to ongoing immigration. Yes, we can always rely on an ever-increasing cohort of youngsters to pay for retirement of the previous generation. This brilliant idea was invented by a guy named Ponzi. The USA has an infinite supply of resources so we can do this forever.

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