Fellows, Jeffrey wrote:
>A ponzi scheme, as Tom wrote, might be an accurate conception of the
>political drive to privatize social security. Assuming the money stays
>in the US, wouldn't a large redirection of SS trust funds away from the
>bond market and into the stock market likely reduce bond prices (by
>eliminating the decifit-reducing bias of SSTF T-bill absorption) and
>increase stock prices, thereby increasing short-term returns in both
>financial markets?
But the USG budget will be balances, so there won't be any more T-bonds to buy!
Doug
