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Politics : President George W. Bush - Right or Wrong? -- Ignore unavailable to you. Want to Upgrade?

To: Joe Btfsplk who wrote (281)	12/13/2004 5:31:10 AM
From: Raymond Duray	Read Replies (1) \| Respond to of 390

George, Re: Do you ever read anything from credible sources? I just read the following about Chile's private pension system: "critics point out that it doesn't cover the self-employed and legions of workers who float from job to job and contribute infrequently." "I think it's a really well thought out system..... I'm not scared I'm going to lose all my money." (Emphasis added.) "But several miles from Santiago's downtown of well-preserved colonial buildings and gleaming skyscrapers, the warts of Chile's system are exposed in the gritty blue-collar neighborhood of Independencia." " many Chileans doubt they'll ever profit from the private system." "If the lack of regular contributions continues, nearly half the work force retiring over the next 30 years won't save enough to fund their own minimum pensions." "Chileans have complained that fees charged by fund administrators are high, and some still harbor suspicions about privatization because the police and military were allowed to keep their government pensions. While acknowledging that privatization has been successful in many respects, the change "wasn't the big silver bullet that everyone expected," said senior World Bank economist Truman Packard. "There was the strong expectation and the promise that participation rates would go up to as high as 80 to 90 percent. Judged by that expectation, there is tremendous disappointment." And that is just from THE FIRST ARTICLE YOU PROVIDED! forbes.com George, wake up and read more than misleading headlines, for gosh sakes!