Social Security Privatization(destruction)

[Charlie Hoyt <>]

Javier Jimenez wrote:
Around the world today, we have examples of private systems that
are providing the security workers want and need for their retirements;
one such example is Chile, with their privatized system Chileans
are enjoy great economic times, low unemployment, high sustainable
growth and greater freedom and security for all workers.  So why
not in the US.  With the largest financial infrastructure in the
world we should be able to do better than Social Security.

If you are talking about the system initiated by the Chilean
dictator, Augusto Pinochet, and his good friend, Milton Friedman
I think you are wrong.  Ask any Chilean worker if they like their
system and the answer will be a resounding NO.  People may be fooled
into thinking that stocks are infallible and their prices will
always go up.  This is simply not true.  How soon we forget the
massive sell-off last summer.  This could easily happen again and
will someday happen.

Privatization means huge profits for investment firms and the
politicians they fund, it means poverty for working-class elderly
people.