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To: stock bull who wrote (174716)	4/15/2005 11:45:03 PM
From: Patrick E.McDaniel	Read Replies (3) \| Respond to of 176388

Ref: I can't help but think of Bush's attempt to privatize social security and allow people to invest in the stock market. My initial reaction to this was to encourage private investing. There are a couple of problems though. 1. Privatization doesn't "Fix" social security. It front end loads more of a financial problem. 2. This is the big one, people in the USA are very poor savers. People need to make "savings" more of a habit and less management of debt.Until Americans become better at savings they are unlikely to be better investors. If they are inexperienced at investing they stand a very poor chance in a down market.They are also unlikely to sell at the right time in an up market. Some would do well with a privatized SSAN but these are people with the experience. Having the option is a good idea but it still doesn't "Fix" the gap but only makes it worst in the short term.