A question for all you who favor what is misleadingly called Social Security “privatization.” What do you have to say for yourselves now that the stock market is actually paying a smaller return than the government promises to pay, and has for 18 months? As bad as Social Security is, apart from inflation losses, the system doesn’t actually cause people to lose 20 to 50 percent of their initial “investment.” Normally this point would be irrelevant. The point of the stock market is that the people who invest choose to do so rather than spend their money in others ways. … Continue reading The Silence of the Privatizers