how libs fudge

 i made the serious mistake

of wafering out a piece
from the ny times resident
 liberal economist 


heres his true colors ......

==========================================

 like most gliberal elite freaks

since at least the soup lines got too long
 in 1931 

he wants us 
to as much as possible
 remain employed

but he don't want us 
to keep all our pay 

we'll
 just blow it on donuts 
scratch cards and watered down  brew 

he's got plans 
for
our pay 

plans that 
protect us from ourselves 
from wall street 
from communism from...

plans  
to do us some real good .....

plans that 
definitely
 do not include 

  george the smaller's

SSI
"partial  privatization" scheme 



-----------------------------
welcome to the writing cabinet 
of one 
  doctor paulius zzzzz  krugmundt
 
of prinzstein I-versity 

"Privatization 

-----bush style -------

    would begin
 by diverting 
payroll taxes
 which pay for current 
Social Security benefits
into 
personal investment accounts.

-----lies foul tricksterish lies 
 the funds aren't 
now 
already a diversion

and  you know this 
you patch sleeved wank off

  theres about 
a trillion and a half
 pay roll dollar 
 already flowed
 out of 
our pay stream to prove it 

  good honest work dollars
  now inside 
 sucker central 
  fund 13 
  the one 
 full  of low yield
aunt polly treasury notes --------


       --------------

 

 "The government, 
already deep in deficit,
 would have to borrow 
to make up the shortfall"

---lie two by two 

you cock slurping fuzz ball

 uncle is already "borrowing"
   that pay roll tax money 
only its a dirty borrow now
a no choice 
 inside job borrow  ...

at least the elephant boy george  way 
 uncle would
 have to
 do theborrowing  shit at arms length
  right out there 
 on the open market
like he does
the rest of his  borrowing

nice side light here:
 
 according to the lady eve 
this'll prolly raise
t-bill interest rates some
 
great let us geeps
 in on that 
right?
shit high rates?
why not uz for once ?

after all
other then uz payrolled fools
 treasury shit's
 for granny  
and 
super state 
asian
market invaders 
 like  the 4 aces 

come on mamma 
hows 'bout  
 a little extra taste 

      read on .... -------------------------- 




"This would sharply increase the government's debt"


--------lie 
the total debt accumulation rate
only incresaes
above the present
 set ups rate  
if and when
uncle goes beyond 
the present surplus
to fund the private accounts  
and starts cuttin 
into funds that otherwise
would
 flow into theactual  benefits pay out
ie cut into 
the pay as you go portion 

thats where the rubicon getz crossed 
not before  ------------

-------the quible here is over 
who's owed
 the change to private accounts 
 raises
uncle's  external debt
not total debt
the diff
today the funds borrow
so uncle in essence only
 owes himself

as things stand today
even though its our dollars   
that is uz  pay roll pay ins
dollars 
doesn't matter
cause we 
 don't "own" our part 
 of  the trust fund's T-notes 
 the way say
the asian 4 aces on theirs ------------------

 " Never mind,
 privatization advocates say:
 in the long run,
 people would make 
so much on personal accounts 
that the government 
could save money
 by cutting retirees' benefits"

-------------- 
kruggle iz usin
a self granted 
speed pass here
lets slow him down
take it 
 frame by frame 

here's the sequence:

imagine 
two possible future amerikas 
trust fund amerika 
 vs  
private accounts amerika
  
in private accounts amerika 
wage fools 
are forced to invest
 x % of their payroll
   in corporate  stocks
 
 over the long haul
these stocks 
 yield  a higher total  return
then treasury notes 
 
now lets flip to
   trust fund amerika 
there 
the  same identical flow out of payroll
goes  into t-notes 
 


over time 
because of the yield differential 

  trust fund amerika 
will have 
a smaller 
total pool of wealth    
then 
 private accounts amerika 
with its
    superior  growth  stock investments 

how much diff?

who cares 
the diff whatever it iz
  is a net gain
 
and the diff
    goes to uz pay ins 



one scenario:

in private accounts amerika
 "somewhere down the road"
uncle  cutz 
back on  benefits
paid out to retirees
from  
the   pay as you go 
tax and transfer system

but this  still leaves 
these same retirees 
better off
 then they would be 
if they'd travelled down time
as part of  trust fund amerika -------------

--------------
        lets  turn this around:
 
for trust fund amerika
"somewhere down the road" 
to deliver 
the same total  benefit payment 
as private account amerika 
    can 
uncle will have
 to make up
 the difference
between the pay out 
from trust fund amerika's SSI 
and the combined pay out 
of private account amerika's
 SSI AND PRIVATE ACCOUNTS 

 how?

by upping 
pay as you go transfers
i.e.
by  increasing
payroll  taxes 
at that point in time 
or (heaven forbid) 
by making  additional
general  borrowings  -------------------


 "if personal investment accounts 
were invested in Treasury bonds,
 this whole process 
would accomplish precisely nothing
 The interest workers 
    would receive
 on their accounts 
would exactly match 
the interest the government
 would have to pay 
on its additional debt 
To compensate 
  for the initial borrowing
 the government would have 
to make "

---------------absolutely correct
   but so the fuck what

 no one proposes this 

except  i like it
cause
at least this way 
with the t-notes 
in  our private accounts 
not uncle's 
    general trust funds
      the shits
         our  property
                     
now
our  cookies
in uncle's  jar
 and our claim on it
is  covered 
only by uncle's promises 
not our rights of property 

all this 
 krug will show......------------


"  the government 
can   cut future benefits
 so  workers 
 gain nothing at all"


--- nor lose anything
either 
except the slight cost 
of maintaining the digital records
 of the   individual accounts 

(that is besides as pointed out above
the higher interest income 
now earned on all t -notes
cause
 full free market floats 
will up uncles 
interest rates)

notice what garble
he pulls us thru here 
its a sick little 
 montee shuffle 

showing us a plan no one proposes
and constructing it
 so it wouldn't 
be more 
then a wash 

fuck thiz  
why has a rbright guyz
esorted to such a lame 
fast finger hocus pocus deal?
who's conned here?
 
forget the shit pal
no way
to hide
the real content
 of your  "  lie tortured intentions " 
  
if need be 
here's the deal 
simpler put :


yes 
assuming only treasury notes
in private accounts 
makes the deal 
not very useful

if you also assume
 a dollar for dollar cut 
in benefits
 
cause the end products
 are the same 
 
(that is again 
    potentially
but what if uncle goes a different way
as things now stand
what if
 uncle  fucks 
with the pay outs
 from the trust fund 
he has ways 
 he wouldn't
have  with issued t-notes)

 fine butfuck...

there's more 
thats the point
all things are not equal
the aggregate growth rate 
of the private accounts will exceed
 the trust funds 
and
 potentially 
by a whole lot  ...

oh another huge missing point here

all dollars taken 
out of the payroll 
tax 
that flow
 into these private accounts
can not  be 
 subject 
to  tricky redistributions

from one pay- in -er 
to another pay- in- er 

no 
low pop higherin 
and 
high pop lowerin
lets boost all  poor guyz
    welfare 
type  redistributions 

i find it grand
that the glibberal fudge pots 
most often 
as krug does   here

refuse 
to  mention 
the present system 
does a fair bit of  redistribution 

"well
uz liberal's
don't need to tell all
cause we always 
do whats 
 "for yer own good" 
why  tell ya 
what you would 
only harm yerfellow man  
by knowing 
and selfishly 
 acting apon"

gotta love 
the  humane patron's 
" smuck's oblige"  here 

nope 
can't let the hoi 
 in on this
redistribution bizz

fuck no 

well jack asses
 watch out
 the elephants may 
spill the beans on ya 
if you  push em far enough
they may take down the whole system

then watch out clara bell
yer dear little
poor guys 
will really 
be shit out of dimes 

fuck you
and all your  elite 
dirty dealing

all yer rigin the deck
all you do and been 
doing 
 out of high sanctimony
since 
at least
the 30's 

fuck
all this

"dull green eye shade
do gooder peculation"
you 've 
pulled off
 behind 

 " your seemy 
     dancing  vail 
   of popular  ignorance "
 
lets hope
all this shit inside SSI  
will get aired out 
once and for all ---------------

----------------------------------
sorry 
i'll
  right back  to krug...

"How, then, can privatizers claim 
that they could secure 
the future of Social Security 
without raising taxes
 or reducing the incomes 
of future retirees? "

----------- see the switch here
he's just shown "a wash "
and now he's claiming
 it isn't a wash
 or shouldn't be a wash 
or can't really be a wash

 how ?

well by non sequitor
or maybe to be fair 
by dragging in 
out of no where
the entirely seperate issue 
of 
the post 2018
 short falls
in pay as you go 

what sloppy panicky lazy 
 bull shit ---------


" By assuming that workers 
would invest most 
of their accounts in stocks
that these investments
 would make a lot of money"

-----watch this rug pull------

 "and that, in effect,
 the government, 
not the workers,
 would reap most of those gains, 
because as personal accounts grew, 
the government could cut benefits"

-------need i comment 
on this slippery glide by ---------

" in essence, such schemes 
involve having the government 
borrow heavily
 and put the money 
in the stock market
 and then 
 have the government 
 confiscate 
the benefit of 
these workers' gains 
in their personal accounts 
by cutting those same workers'
tax and transfer  benefits 
dollar for dollar "

  

------
first off
i tampered with krug here
to make his point
cause he cut his own dick twice sword dancing
and he deserves better ..
but 
"borrow heavy"

vut 
again vid dah  borrowing krug

shit we see through dis krug 
yer fucking scare krieg don't woik 

only 
if and when
uncle  cuts
into 
the requirements
 of pay 
       as you go 
to fill the private accounts
will he be borrowing  more 
under the private accounts system
then under the present system
     i haven't seen a plan yet that even gets that far so whos to say
bush won't
say okay we take only the surplus 
with a sub voce
"for now heh heh heh heh.... "---------

----- now as to krugs
   gains off set
   by cutting benefits

sure he's right
 but this leaves room 
maybe plenty of room
for a geeper gain anyway 
christ 
thats simple addition subtraction
krug

here you 
are pretending  
 
 7+3-2 = 6 or at best 7 

shame on you noughty boy
maybe you are a rogue after all
cause 
thats exactly 
the kind of shit you accuse bush of ------------------ 

"Once you realize 
that privatization
 really means government borrowing
 to speculate on stocks, 
it doesn't sound too responsible,
 does it? "

--------what none sense 
who better to take risks..

the government
 with its  taxing power
and its credit line 
can ride out any flux
borrow to smooth payment flows
etc etc etc 

not here but else where
you even hear doubts
 about the real 
long run return
 being higher  on stocks

(in fact best estimates
have  it 
something like 
publicly traded 
corporate stocks 6 %
real annualcompounded  yield 
vs
uncle's bonds 3.5% )   

and of course 
this is so

the return 
on uncle's  bonds 
are rock bottom rates

they define safety 

nothing is so low 

over the long haul
every other 
legitimate security category 
will out perform t notes 
because if nothing else 
-as krug points out- 
they each carry the burden
  of   greater risk
 
but here's where krug lies

and i mean lies  
like a hong kong 
           jade  dealer 
 
uncle 
far from being 
a candidate for  risk avoider
is the best of all 
possible legitimate risk takers

he's  the ultimate 
long haul deep pocket
 best
 credit  guy 

uncle buying risk 
and spreading it out
over all of us

thats the best  game in town
 
  by this indirection
 by going thru uncle
we  can  socialization
the shitwe can't handle as civilians 


interestingly 
if a slight off set

by  pumping all these 
"new dollars" into stocks 
the elephants 
 would prolly 
suceed
in reducing  the return
on corporate stocks 
while
 at the same time  
the implied out flow 
of funds 
from uz suckers'
 sequestered treasuries
wil be  raising rates 
 on t- bills
i.e.
this plan should 
make "the spread"
 less
         -------------- 


"
 the details make 
it considerably worse.
First, financial markets would,
 correctly, 
treat the reality 
of huge deficits today 
as a much more important indicator 
of the government's fiscal health
 than the mere promise 
that government could save money 
by cutting benefits 
in the distant future."

------     ginkers
       read whats comin up
    carefully its grand stuff-----------

"After all,
 a government bond 
is a legally binding
 promise to pay
while a benefits formula 
that supposedly cuts costs 
     40 years
 from now
  is nothing more 
than a suggestion 
     to future Congresses."



------------ really nice krug
better then my version
not even a "promise"
 its a mere 
"a suggestion"
beautiful

but you dingo 
this is ammo for the other side
not yours

you wiggle woggle pipe stem 

start 
tell the hoi
their trust fund 
is less then a promise 
 
something that don't 
even need to be broken
to be fucked 

tell em 
that their pay ins 
really aren't 
 theirs
some day

unless congress feels in the mood 
 
and they'll want
to tear up the whole system 
fuck take back  
 the surplus 
fuck abolish the whole deal
fuck the old shits yer on yer own
i made it i'll spend 
and now 
while its still worth something

want yours back to
 old timer
try gettin  from the dead ass holes 
you supported
cause from now on 
mine ain't yours 

yup far from forced savings plans
we'll have 
a spend it now plan

spend it 
before its stolen 
by politicians
down the road

shit 
with chatter
 like that
you're not 
 workin
 to  can 
the private accounts scheme

you're workin
to  can just 
what  
you're trying to defend  ----------


---to be fair 

okay so your agitated 
i know theres a fast one 
under way here

wall street's 
ever so none suchery
is  out to pick 
a few hundred million pockets 

 okay 

but fuck
 kruggy 
keep yer wagon 
on the trail here

you are deain out  
the elephants 
own cards
 

this property vs promise shit 

 is exactly
 what george's stooges 
      kall home base   

if you mean what you say
  and
i'm sure as aconflicted brainy
decent  liberal twit
 you both do and don't


then  face the dark side here

the elephants 
are right
about the SSI 
 trust funds 

 
they 
contain 
the loot 
taken with  
 brakeable 
promises

and that don't work 
so well 
in the mind of 
a lot of  regular folks
as  
 temporarily 
tied up funds
with their name on em
that are 
investible 
for a higher return
  

 okay
so you know
how to use  
the bush big lie  
 when it works for ya

but this one 
 works 
even better 
against ya  dopey --------------

 
 
------- and you  go on...-------------

" Social Security rules aren't immutable:
 in the past, Congress has changed things
 like the retirement age 
and the tax treatment 
of benefits.
 If a privatization plan passed 
in 2005 called for steep benefit
 cuts in 2045, 
what are the odds 
that those cuts would really happen?"

------- wow here the whole thing flowers
into the feed  me plant from 
little shop of horrors .....

i can hear the stampede 

 "gib me back
  my fuckin pay ins"

" bust open 
the trust funds
 uncle 

  return our dough

 we wanta
 go back to
 pay as ya go "

really krug don't fight the feeling here

this can get only worse
if ya fight em

hey they're smart 
they'll
hit ya where you pray


what are  you gonna say
if they counter with...

calvinism

what if behind the hand

the wally boyz nuncios
say to ya

 "krug come on
its a sugar shack
     way to up
the  forced savings rate "-------


----------------------------



" If Mr. Bush were to say 
in plain English
 
that his plan 
to solve our fiscal problems 
is to borrow trillions
 put the money into stocks 
and hope for the best
if he were to announce
  that 
any such  system
 of personal accounts,
  would mainly be
 an indirect way 
for the government 
to speculate
 in the stock market
and  
would lead to
 huge brokerage fees
then  
everyone would denounce 
the plan
 as the height 
of irresponsibility

---------really ?
  why ?
cause you just said so ?

this is hysterical 

-----okay so now the street
with its fees  
plus uncles pay out cut
    off sets
 takes
 away any poor slubs
up side
 good 
then the geeps
 will buy 
your fucking aunt polly wog
 treasury bonds 
next time won't they

and be no worse off
in the after life
 then they are now 
financially

except
for the cost 
of a good lesson
in wall street manners
something 
maybe worth ten times more
 then the lost dough
cause they got 
  the streets number -----------



-------at any rate 

why wish for 
such bad spin
  you'll never get ?

 krug
you know 
  instead

they'll say

"iwe're  not  
gonna let
uncle use
 your hard earned
 payroll 
to create a tax surplus

 nopenot any more
we got a better way 

from now on
if uncle can't balance 
his budget
he'l l
just have to 
borrow the short fall
 else where

cause iwe're  givin'
you all   back 
 your own money
to  invest  in 
high yield stocks 

givin it back 
 for your own
damn fine  benefit

not let uncle
 soak ya
like a  damn fool 
to fill the hole 
in his  goo goo built  deficit  "

how you gonna answer that
in street english boy ? ---------------


"The fact that this plan 
has an elaborate disguise,
 one that would add considerably
 to its costs, makes it worse." 

-------interesting point

speaking of elaborate and costly disguises
thats 
a real nice way 
of describing 
capitalism's 
very own core scam

the private profit 
exploitation system 
itself is just that sort 
of false mustacheoed 
 alias blarney regan
   rip off  transfer system ---------

======================================
 
-----final jimbaree
yoodle 


" folks its really 
a win win 
we offer ya here
an 
increase 
in voluntary 
by your choice only 
   forced 
   social savings

not only 
does this mother
 help your own future
it 
helps your country too

cause we will build robots 
with yer money 

 here gang look 
  the futures wearing leisure suits 


 lord jesus


 right when 
 we need her  most



 lets all  
 bind ourselves 
to freedom's 
          full throttle future 

make  
 uncle  
  cough
back up  
some of our    
  ever  belowering
   pay 

so we  can 
build ourselves
a  one way  swag 



 a
fully
salvation ready
 force
     fed future 
 freedom portfolio 

so highly 
 personal 
yer on a  first name only 
basis

so  
highly individualized
so custom cut 
so 
liberty launched 
so 
"just for you" 

you'll 
 not know where your
dick  ends
and your investments begin



just work till. yer xyz 

and 
   then bango 
she's all  yours

 to do with 
as you please

in perfect freedom 
and perfect privacy 

she'll 
be yer own 
 very  private 
personal individual
 freely held
 paper asset property
  
with all the canonic 
florishments
all the wool dyed 
values 
of havin and holdin

all 
we deem  
to be self evident
rock of  ages
tit  tested 
rights and privileges 

yes 

thats the plain unvarnished facts

you got in one 
wall street 
hand packed bindle 
all the fancy 
life's  fond end game
surprise   fixins
we call america's 
    way to terminal happiness 


yes  
full figured  
 ownershippppppp

big time 
wall street
issued  
 gilt edged 
balloon payment  
securitized 
funga-billy 
      spawn doolickicated 
      spendable glee  
 
yes indeed
pal 'o mine
 
with this here 
water tight plan

 you get  
the  property

the  whole  property 

and nothin but
 the property

yours only 
 in toto 

yours for ever and a day

 past the casket 
and thru the moonbeams  
 
--------------------------

not to be too  negative here

lets end on 
as sweet a chord as possible:


i suggest 

we fix the pay as you go 
y raising the taxable base 
to cover all comp 
for labor services
ie ceo's total comp too

yes go 
all the way 

exercised options 
bonuses
 defered pay etc etc etc

my guess 
right now
theres 
a couple trill 
more out there 
to pull into 
the tax and transfer system 

get at all of it 
then cut the flat rate 
to a pay as you go level 

as for the pay in to pay out ratio 
problem


which is headed from 3.5 to 1 
all the way down to 2 to 1

well show 
the folks the  path

and  

leave it up to them
to decide whats best

if they want to increase productivity

the only real way 
you can 
 iz by inventin better machines 
    and
building more of em  

to pay for it all


set up a forced savings fed
social 
investment plan

  out of all forms of income 
of course 

not just wages 


and while we're at it 

what if uncle 
did just 
what krug calls 
a no no 

what  if he  
did the thing striaght up
       
took the forced social savings
and    invested them  all 
in risky production 
   enhancing operations

like he did to fight 
 world war two  
 
           invest 
not in paper stocks

but good old  department one   

and  directly 

not thru
the goose noose
candy land stup 

not thru  
that fucking wall street
paper mill
that  
purports to be
an owner share system 

lets build up 
the production base of
 amerika the  mighty
straight off 

        
        step one 

        lets start
with  the whole  
        pay roll tax surplus flow
whats that a 100 - 200 bills per year?

oh and lets 
         turn
the  1.5 trillionin the funds 
back to their rightful owners

as personal accounts
  holding  zero coupon 
dated bonds

         and lets sieze 
the banks 

and fry all  university presidents
 
and 
dance naked with hand guns  
         


 =====================================================================