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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GraceZ who wrote (26015)2/8/2005 12:00:14 PM
From: benwood  Read Replies (1) of 110194
 
"All the formulas would have to be adjusted."

Considering the 2 billion page budget, I have little doubt they could do this <g>

"Sorry to break this to you, your SS statement makes assumptions,"

I realize I mixed up two numbers on the statement; one said if I never worked again yada yada and the other assumed I'd make the last year's wage for the next 22 years or whatever, and you're right, the former said it would be a much lower payout if I didn't work again.

But whatever, they simply need to modify the formula. Bush is already saying that with his pretend privatization that it's just a matter of time before benefits are reduced, i.e. the formula will be modified to reduce payouts. Small change now or huge change later, American's choice. But with many Americans thinking the stock market returns 20% or more compounded annually, it will be an easy sell.

What will Wall Street's cut of the SS pretend privatization be? I'm guessing that if it's 1% per year that ultimately they'll skimming many billions per year off the top. I can see why they've made a PR down payment of 100 million already.

Now if they would let ME privatize my stinking money, I'd be all for it...
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