Privatize Social Security now that the Stock market is down 25% and still dropping?

[bxlefty23]

Originally Posted by Refugee56

Does anyone still remember the Bush Administration plan to privatize Social Security and allow people to put their Social Security Money in private accounts?

That would have added about a trillion to the national debt and was sold as a vehicle for future retirees to make lots of money in the booming stock market.

Well now that the stock market is in a free fall and we have already made plans to add another trillion dollars to the National Debt through these bail outs, what do supporters of the Social Security Privatization plan think now?

it should be privatized and anyone who thinks otherwise is a complete fool
id rather have my money in my account drop 25% 40 years from now because it would still be way higher than the pittance the govt will be giving my from ss

[lchoro]

Originally Posted by Refugee56

Does anyone still remember the Bush Administration plan to privatize Social Security and allow people to put their Social Security Money in private accounts?

That would have added about a trillion to the national debt and was sold as a vehicle for future retirees to make lots of money in the booming stock market.

Well now that the stock market is in a free fall and we have already made plans to add another trillion dollars to the National Debt through these bail outs, what do supporters of the Social Security Privatization plan think now?

The problem is the market as a whole is not cheap. The P/E for the market is 25. Who knows what the price to book is since there's considerable negative equity residing off of the balance sheets.

P/Es & Yields on Major Indexes - Markets Data Center - WSJ.com