CosmicSex on 07 July 2015
Back in the market crash of 2008, 6 trillion in capital was wiped out including tons of privatized savings and pensions. The company that I was working for at the time lost 26 million in employee pensions.
So no. Had Social Security been privatized at the time, so many people would have suffered.
At least if the government needs to pay your SS at worst, it can print money, the private market can not. Once is gone its gone. And when you consider how many depend on it, it would be very irresponsible to gamble with people's future especially in light of what happened.
For most folks its not about getting rich... its just about being able to survive.
