Religions > Atheism > NeoCon Tool Fred Stone Makes a Fool Of Himself (re: Rightard SS Fuzzy Math)
| Topic: |
Religions > Atheism |
| User: |
"Yang, AthD h.c, Kicking AWOLs Cocaine Snorting Ass" |
| Date: |
03 Feb 2005 09:41:12 AM |
| Object: |
NeoCon Tool Fred Stone Makes a Fool Of Himself (re: Rightard SS Fuzzy Math) |
Okay, let's review Paul Krugman real quick.
As posted by our Michelle Malkin (not to be confused with Michelle
"Maglalang-I-Wish-I-Were-White" Malkin). Paul Krugman makes the
following point: if the future economic growth is as high as the
NeoCons claim it would be (or 6% per year, a necessary condition for
their SS privatization plan to work), then there is NO crisis for
social security since Social Security will be solvent FOREVER. On the
other hand, if future economic growth is as bad as what NeoCon use to
demonize Social Security (something like 2%), then the NeoCon's SS
privatization plan not only does not work, it makes everyone worse off
on the aggregate [1].
Fred Stone, quoting Donald Luskin (a.k.a the dumbest econ NeoCon hack
in the business[2]), comes up with the rejoinder in the vein of "but,
but, It's POSSIBLE for the economy to grow 6+ percent. Ergo Krugman
is wrong!"[3]
If you spot the strawman nature of Fred Stone's "argument", give
yourself a pat on the back. You are now a proud member of the
reality-based community.
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[1]"They can rescue their happy vision for stock returns by claiming
that the Social Security actuaries are vastly underestimating future
economic growth. But in that case, we don't need to worry about Social
Security's future: if the economy grows fast enough to generate a rate
of return that makes
privatization work, it will also yield a bonanza of payroll tax revenue
that will keep the current system sound for generations to come.
Alternatively, privatizers can unhappily admit that future stock
returns will be much lower than they have been claiming. But without
those high returns, the arithmetic of their schemes collapses."
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[2] Donlad Luskin is the same idiot who thinks that Social Security
will go under because the amount of money it owes to the American
people equals, get this, the ENTIRE taxable GDP. This is like saying
this year you owe the IRS the amount that is equal to your Adjusted
Gross Income, rather then the tax BASED off of your Adjusted Gross
Income. How's that for (adjusted) gross incompetence?
http://www.j-bradford-delong.net/movable_type/2005-3_archives/000216.html
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[3] "stocks could return something like 6.5 percent,"- Donald
Luskin
Then again, stocks could also tank a la 1929 and it could grow at a
more modest pace. Either way, the NeoCons are stuck at a catch-22.
====================================================
-----
Yang
a.a. #28
AthD (h.c.) conferred by the regents of the LCL
a.a. pastor #-273.15, the most frigid church of Celcius nee Kelvin
EAC Econometric Forecast and Sorcery Division
Proudly plonked by Lani Girl and Crazyalec (aka
aka Yang's little poltregeist *****)
The Bush 'balanced' budget: 1.6 trillion and worsening
The Bush 'economic' policy: 12 million FEWER jobs than
Clinton and counting
The Bush Iraq lie: -1439 GIs, one friend's
co-worker's son and mounting
Having Bush ***** up my country: Worthless
.
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