Saturday, January 10, 2009

On the "Things could always be worse" front:

Crapaud's good fren' Mssr. Le Proffeseur Paul Krugman de la Laureate-Nobel, had this to say in the Jan 5th NY Times relating to the POWER of the opinions of the People to influence public opinion for the good. Thanks to Mon 'tit Bougre for sending this along to Crapaud.

"A bullet dodged

What would have happened if George W. Bush had actually succeeded in his plan to privatize Social Security? Ask the Italians.

Italy did for retirement financing what President George W. Bush couldn’t do in the U.S.: It privatized part of its social security system. The timing couldn’t have been worse.

The global market meltdown has created losses for those who agreed to shift their contributions from a government severance payment plan to private funds meant to yield higher returns.…

Gaetano Turchetta, a Rome office manager, made the irreversible move to a private plan after a union representative boasted of the potential for 20 percent annual returns. The 43- year-old father of three now says he would sign with “two hands and two feet” if he could switch back."

Crapaud say: A bullet dodged is one well-worth gunny-sacking for future battle discussions.

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