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2016 Postmortem
In reply to the discussion: Questioning Bernie is a Democrat is a Third Way Talking Point [View all]FreakinDJ
(17,644 posts)26. They did it in Argentina and it was RAIDED br Corporatist
Even when faced with FACTs Privatization of social Security causes Financial Markets to FAIL they keep pushing the agenda
WHY - Because Wall St LOVES them some Vulture Capitalism
Argentina Could Show Greece A Way Out Of Its Crisis
During the 1990s, burdened with a heavy debt, Argentina implemented a series of far-reaching free market reforms similar to the austerity policies implemented in Greece today. These included privatisation of all state enterprises, utilities and the pay-as-you-go social security system. Trade, finance and the labour market were all radically deregulated. Finally, Argentina implemented a currency board which pegged its currency to the dollar on a fixed, one-to-one, exchange rate. In doing so, Argentina de facto renounced the possibility of carrying out independent monetary policy, which is critical to any countrys ability to manage its economic health. The currency board was a less drastic measure than the Euro monetary union, but almost as damaging.
Far from putting Argentina on the path of debt sustainability, economic reforms made matters worse, with the privatisation of social security particularly harmful to fiscal accounts. As Argentinas rapidly growing debt became unsustainable, it turned to the IMF for bailouts. The IMFs conditions, like the Troikas today, turned Argentinas recession into a depression, making the debt even more unsustainable. IMF prescriptions were also deeply interventionist, including the requirement that Argentinas bankruptcy code be changed to facilitate foreign buy-outs of bankrupt domestic businesses and repealing a law against white-collar crime.
https://www.socialeurope.eu/2015/08/argentina-show-greece-way-crisis/
During the 1990s, burdened with a heavy debt, Argentina implemented a series of far-reaching free market reforms similar to the austerity policies implemented in Greece today. These included privatisation of all state enterprises, utilities and the pay-as-you-go social security system. Trade, finance and the labour market were all radically deregulated. Finally, Argentina implemented a currency board which pegged its currency to the dollar on a fixed, one-to-one, exchange rate. In doing so, Argentina de facto renounced the possibility of carrying out independent monetary policy, which is critical to any countrys ability to manage its economic health. The currency board was a less drastic measure than the Euro monetary union, but almost as damaging.
Far from putting Argentina on the path of debt sustainability, economic reforms made matters worse, with the privatisation of social security particularly harmful to fiscal accounts. As Argentinas rapidly growing debt became unsustainable, it turned to the IMF for bailouts. The IMFs conditions, like the Troikas today, turned Argentinas recession into a depression, making the debt even more unsustainable. IMF prescriptions were also deeply interventionist, including the requirement that Argentinas bankruptcy code be changed to facilitate foreign buy-outs of bankrupt domestic businesses and repealing a law against white-collar crime.
https://www.socialeurope.eu/2015/08/argentina-show-greece-way-crisis/
And here is Bloomberg still Pimping Privatizing Social Security
A Social Security Lesson From Argentina
Since 1989, Argentina has rapidly introduced revolutionary reforms that have greatly reduced government regulations and controls. Privatization of its social security system is the most important step of the past couple of years. Argentina's experience demonstrates that, even under very difficult economic circumstances, a nation can successfully convert from a pay-as-you-go (PAYG) social security system to a competitive private pension plan with individual retirement accounts.
http://www.bloomberg.com/news/articles/1996-10-20/a-social-security-lesson-from-argentina
Since 1989, Argentina has rapidly introduced revolutionary reforms that have greatly reduced government regulations and controls. Privatization of its social security system is the most important step of the past couple of years. Argentina's experience demonstrates that, even under very difficult economic circumstances, a nation can successfully convert from a pay-as-you-go (PAYG) social security system to a competitive private pension plan with individual retirement accounts.
http://www.bloomberg.com/news/articles/1996-10-20/a-social-security-lesson-from-argentina
Truth of the matter is Argentina was a budding Capitalist Society where the Working Class saw 75% reductions in the amount their Social Security system paid out
There is a LONG list of countries that have tried this and failed miserably - do you wish me to go on here
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THe logical result of the Clintons Selling the Party to the Koch Bros. in the 80's
Ferd Berfel
Apr 2016
#2
want to discuss Hillary's plan to fund Social Security ... (crickets chirping) ...
FreakinDJ
Apr 2016
#3
They already did skim the Surplus Social Security Funds with Wall St/1%er Tax Cuts
FreakinDJ
Apr 2016
#5
Exactly. The objective of the Naderites bashing dems is the same as it ever was: help the GOP win.
DanTex
Apr 2016
#14
So are you the One vote in favor of Third Way corrupting the Democratic Party
FreakinDJ
Apr 2016
#20
Those people are members of the board of Third Way, they self identify and self promote as Third Way
Bluenorthwest
Apr 2016
#22
Indeed, I mean who cares if women die when self aborting or minorities cant vote.
Jackie Wilson Said
Apr 2016
#27
Right, so to hell with the millions who will be deported or who will die without
Jackie Wilson Said
Apr 2016
#34
Was supporting him before you knew who he was. This is embarrassing for Bernie...
Jackie Wilson Said
Apr 2016
#51
So you admit he caucused with Dems for 25 years and then claim that earning Committee chairs...
kristopher
Apr 2016
#46