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Posted on 03/02/2008 10:35:31 AM PST by neverdem
10...9...8...[counting down the appearance of all the latino-bigots]...7...6...
Chile has the kind of privatized 401K style of state retirement program we can only dream about. Even the baby step Bush proposed in that direction has been shouted down here.
Great article. Thanks.
Pinochet was in a unique position. As a dictator, he could MAKE these changes and fortunately chose wisely. Friedman was the best. In countries like Argentina, you have an intransigent bureaucracy that refuses to let go. Pinochet could get rid of this issue.
Same in the US. The world is changing to flat taxes and private pensions, while the US snoozes. Meanwhile, everyone in the US Congress has their own private pension, which is different from our Social Security System. I wonder why Congress doesn’t agree that whatever is good for the general public should be the same as their system. Hmmm
What’s wrong with Latino countries bringing up their standard of living with economic policies that are based on economics instead of ideology?
What leadership! Wouldn’t it be great if our ‘repub’ politicians used real data to justify conservative positions?
Indeed he was.
We've lost him and Reagan and now Buckley. Do we have anyone in the wings?
I'm surprised at "Ahnald" - he got his business smarts direct from Friedman - and built his mega personal fortune.
In 'managing' California, it seems he's forgotten everything he knew...
Too much pillow-talk influence?
Indeed. It’s shameful that our SS system, etc remains in place the way it is. My generation is going to be paying for it for a long time with little to nothing in return. I’d be happy if just 2 (+2% emp match) % went to a privatized system.
Thanks for the post. A good tutorial on what REALLY brings down the poverty rate.
Chile has wonderful seafood, AND penguins. I’m ready to go!
It’s shameful that our SS system, etc remains in place the way it is. My generation is going to be paying for it for a long time with little to nothing in return.
I think it's pathetic how people of my generation and older have listened to the Siren song of "safe investment" of payroll taxes in government bonds.It sounds wonderful from a selfish POV. But since Government Bonds are a liability to the Treasury, those "investments" are mere records of past government profligacy. They can be of no actual help to the younger generations upon whom we count to keep our Social Security checks from fueling inflation.
The fact that Congress has successfully sold that scam for votes for the past three generations is a disgrace to the very idea of a democratic republic. A year or two ago GWB complained of Congress' refusal to consider "privatizing Social Security" - which alone can possibly ameliorate the burden on future taxpayers - and all Democratic Congressmen and senators stood up and cheered. I at least hope that when the reality of the uselessness of the Government Bonds in the SSTF sets in that the Republican Party uses that scene in an effective commercial. Cold comfort tho it will by then be . . .
Some pinheads see ghosts behind every corner.
Maybe he just hates Latinos that do well. Legally. ;)
Bachelet hates Pinochet and everything he stands for, and will do anything to kill his legacy, even if it means destroying Chile along with it.
Excellent find.
btt
Economic historians should check out the economic freedom reports put out by the Fraser Institute (address below).
http://www.freetheworld.com/2007/1EFW2007ch1.pdf
Chile was recently backsliding from the heady days of Friedman/Pinochet’s freeing the Chileans (from elected, but usurper, Communist Allende).
Chile is now ranked 58th in economic freedom. The U.S. is ranked 16th, U.K. is ranked 24th. Hong Kong usually wins every year. Singapore is also up there. See the report for (almost) annual rankings. A new 2007 report is expected soon.
In 1970 Chile’s economic freedom index was 4.08 then increased to 7.48 in 2000, then fell to 7.27 in 2001, stayed low (they got liberal) and now has climbed back to 7.71 (the U.S. is 7.97).
Thanks for the link.
Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.
Uncle Sam: gimme some money to save for your retirement.
Citizen: what happened to the money I gave you last week?
Uncle Sam: I spent it.
Citizen: maybe I should put some of it in the stock market.
Uncle Sam: nah, too risky.
Ping for economic and personal freedom locations.
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