Thursday, April 24, 2008

We Dodged a Bullet: Extremists Failed to Privatize Social Security

The stock market, like any other market, goes through cycles of activity. A secular bear market is a long period of time in which prices stagnate or decline and investors suffer punishing losses from which they might never recover. Such secular bear markets can last as long as 25 years!

Since the mid 1990's, Washington extremists have been pushing the idea of privatizing Social Security. In this endeavor, they have shown themselves to be ignorant of - or maliciously indifferent to - secular stock market trends.

Up to now, they have been unsuccessful in privatizing Social Security so as to enrich Wall Street.

A Marketplace.org commentator reflects on their failure and says,
The best thing to have happened during the Bush administration is something that did not happen.
Listening is more enjoyable!

Read if you must!

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