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Current time: December 25, 2024, 8:03 am
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Again...the Invisible Hand
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The hand's not invisible anymore.
Goldmann Sach's thinks we are all muppets and is basically giving us their game plan for how they are going to screw us over. Just wait until the Republicans get back into the White House and hand over Social Security to those bastards. Privatized social security? We'll see that hand coming from a mile away! The Invisible Hand is now the Visible Bitch Slap.
"A casual stroll through the lunatic asylum shows that faith does not prove anything." -Friedrich Nietzsche
"All thinking men are atheists." -Ernest Hemmingway "Those who can make you believe absurdities can make you commit atrocities." -Voltaire  (March 17, 2012 at 7:28 pm)mediamogul Wrote: The hand's not invisible anymore. You're confusing two completely separate ideas... From the perspective of a free market advocate the "privatising" of social security DOES NOT involve a government mandate that we must purchase social security from a specific set of private companies, it means that it is a "private" decision, that the individual chooses how much (if anything) they which to save and in what form. Goldman Sachs would only be involved if an individual chose to invest their money with them - if the Government is forcing people to purchase financial products from a specific set of companies (what you were referring to as "privatised social security") then it has absolutely nothing to do with the free market. Frankly I'd rather see a public social security scheme than the system you refer to as "privatised social security" even if in reality the wealth that is subverted from either essentially ends up serving the same interests.
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 Quote:it means that it is a "private" decision, Horseshit. It means you have no decision except which bunch of Wall St. criminals you want to hand your retirement money to. Given their track record, I doubt it will be there when anyone comes looking for it. 
Look at how many people lost their life savings in 401Ks when Wallstreet tanked in 2008. Let them get hold of my Social Security? No way!
'The difference between a Miracle and a Fact is exactly the difference between a mermaid and seal. It could not be expressed better.'
-- Samuel "Mark Twain" Clemens "I think that in the discussion of natural problems we ought to begin not with the scriptures, but with experiments, demonstrations, and observations". - Galileo Galilei (1564-1642) "In short, Meyer has shown that his first disastrous book was not a fluke: he is capable of going into any field in which he has no training or research experience and botching it just as badly as he did molecular biology. As I've written before, if you are a complete amateur and don't understand a subject, don't demonstrate the Dunning-Kruger effect by writing a book about it and proving your ignorance to everyone else! " - Dr. Donald Prothero RE: Again...the Invisible Hand
March 18, 2012 at 5:22 am
(This post was last modified: March 18, 2012 at 5:26 am by theVOID.)
(March 18, 2012 at 3:51 am)Minimalist Wrote:Quote:it means that it is a "private" decision, Are you really this dense? There is no debate here, this is a SIMPLE case of definition. When a proponent of free markets talks about private retirement funds they mean "private" in the sense that it is entirely the responsibility of the individual, not "private" as in "the government dictates which private companies you MUST give your money to" Quote:It means you have no decision except which bunch of Wall St. criminals you want to hand your retirement money to. Are you really telling me that if you were responsible for your own retirement, that this was cash in your own account, that you couldn't think of any other ways to save and invest other than to give it to Goldman and co? If that's the case you deserve to be broke. And who the hell do you think the public schemes benefit anyway? Only the people in command of the cash at the time! The only reason pensioners have anything AT ALL is not because the capital they saved was put to good use and provided them dividends, it's because government has the power to fucking steal the difference from people who are currently working. (March 18, 2012 at 4:00 am)orogenicman Wrote: Look at how many people lost their life savings in 401Ks when Wallstreet tanked in 2008. Let them get hold of my Social Security? No way! They have a far lower chance of getting your money if you are in control of it than if the government is in control of it, look at how much of their action was contingent upon the backing of the taxpayer via subsidies, guarantees and limited liabilities. If that percent of income that you're paying to social security is cash in your hand then the only way that Wallstreet is going to get it is if you give it to them. If people took some responsibility for their own retirement there would be LESS centralisation of power, financial and otherwise.
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Can't argue with you V0id...right as usual...
by the way...  from across the pond..hope all is well in Aotearoa
"The Universe is run by the complex interweaving of three elements: energy, matter, and enlightened self-interest." G'Kar-B5
The rest of the country is doing alight I guess, I just happen to live in Red-Tape city, the place where the earthquakes are currently our second biggest problem
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(March 18, 2012 at 6:05 am)theVOID Wrote: The rest of the country is doing alight I guess, I just happen to live in Red-Tape city, the place where the earthquakes are currently our second biggest problem I know honey...been monitoring (as far as I can) Stay safe eh?? 
"The Universe is run by the complex interweaving of three elements: energy, matter, and enlightened self-interest." G'Kar-B5
I imagine the corporate champions around here will scream bloody murder about this, too.
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