Bush's social security reform (1/28)
A plan to benefit financial group
What Bush intends to do is to drive young people to invest their retire
pension into financial market. Who will be winner and who will be loser?
Financial market, especially the stock market, is a speculating market. How
can Bush expect people will win in that market? He has no assurance. But one
thing he knew for sure is that the financial group will benefit a lot from his
proposal.
When people went to Las Vegas. The winner is always Casino. Aladdin,
Mirage.... all these grand Hotel were built up on the money lost by gamblers.
But at least those gamblers are willing to go there and they more or less got
some entertainment.
For those who put their money in financial market, they can expect to
contribute more to Gold Sach, JP Morgan, Citi Bank ....
That's probably why Bush only proposes the reform at young people and to a
limit portion. If his proposal is real good as he said, then why didn't he
suggest to privatize all social security fund, and apply it to all ages? He
dares not. He knew there is a risk. Once such a fainancial disaster takes
place, the impact won't be felt by young immediately because there is still
sometime to their retirement age. They became a Guinea pig of Bush's plan.
The main work Bush did in his first term was to contribute a high profit for
military industry and oil group. It seems the mission for him in 2nd term is
for the profit of financial group. That is why he is awarded with four more
years.
