Monday, October 18, 2010

Privatize Social Security?

Here's an eye opening statement that should trouble anyone who's contemplating a privatized Social Security System:

The decline has been painful for the Japanese, with companies and individuals like Masato having lost the equivalent of trillions of dollars in the stock market, which is now just a quarter of its value in 1989, and in real estate, where the average price of a home is the same as it was in 1983.

Imagine having to rely for your retirement on investment vehicles that are now only 25% as valuable as they were 11 years ago.

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