[lbo-talk] Social Security Privatization

[Max B. Sawicky]

This speaks to the interesting debate about the import
of converting SS "implicit" debt into Federal securities
that circulate among the public.  Not all the bonds would
be converted to cash and spent.  Lots of people would
blow theirs in some dumb investment, others in good
investments, others would just sit on them (I assume they
would earn interest).  If the bonds are
tradable, there would be some kind of portfolio effects
on financial markets, don't ask me what.  Meanwhile,
freed up SS taxes would pour into the market and blow
more bubbles.  Fun times.

. . . Regardless of the wisdom of this plan, ask your friend where you will
get the money to issue the check.  If it's "merely" a difference
accounting, like having the money in savings and transferring it into
checking, then it should be easy to find $15 trillion.  

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