Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Amy J who wrote (217013)	2/3/2005 12:38:14 AM
From: Joe NYC	Read Replies (2) \| Respond to of 1572300

Amy J, I totally agree with your comment about going 100% privatization, where people can invest in what they decide. One country I am familiar with (Slovakia, were I was born) just started on the privatized Social Security this January, and for them the cut off is people who have never participated in the labor force. Those who have never participated in the labor force (including guest workers from other EU countries) are automatically enrolled in a 100% private account. For anyone in between, there is a phase-out, voluntary contributions to personal account etc. It is far more radical than what Bush is proposing, and I wish Bush were a little bolder here. They have a good handle on the unfunded liabilities, and I think they are going to pay it off from proceeds of sales of previously government owned enterprises to private owners and from general revenue. BTW, I wonder if there was a hidden agenda in the location of Bush / Putin summit later this month. Maybe Bush intends journalists to look into some inovative things that are going on in this are in other countries. There's a report outlining the ultra high cost of the management fees WS wants to impose, truly annoying. More govt waste at our expense. They need to take a huge hammer to that. Agreed. From what I heard, Bush mentioned bond and stock index funds (not individual stocks). I don't know about bonds, but stock index funds can be managed by a computer, and given the amounts of money, the management fees should be miniscule. Like you, I prefer intellectual dialogue, even if I disagree with a person's message. Well, I have to plead guilty to going off tangent number of times. Joe