Goldman Sachs’ chief vampire squid shows just how stupid (and bad at math) he really is:
He recently stated that Social Security needs to be gutted – because it wasn’t designed to take care of people for 30 years. Here’s the actual quote:
“You can look at history of these things, and Social Security wasn’t devised to be a system that supported you for a 30-year retirement after a 25-year career.”
Whaaa? Someone who takes their first job at 18 or 21 and works until they’re 65 has only worked 25 years? Someone get this guy a calculator. His poor math skills aside, he’s apparently not happy that people have the nerve to live into their 90s, after retiring at 65. People are just living too long. How dare they?
You might enjoy this –
http://real-economics.blogspot.com/2012/11/toward-political-economy-of-oligarchy.html?showComment=1353957233534#c758144459695031138
This was my favorite part –
“you may, at present, load every Gallows in England with Directors and Stock Jobbers, without the Assistance of a Sheriff’s Guard, or so much as a Sigh from an Old Woman, though accustomed perhaps to shed Tears at the untimely Demise of a common Felon or Murderer. A thousand Stock Jobbers, well trussed up, beside the diverting Sight, would be a cheap Sacrifice to the Manes of Trade”
Ahh but Susie, it’s not math that fails him, he’s forecasting. The twenty something that reaches retirement forty years from now may only have 25 years of work credit to his record. I wouldn’t want to bet too much against that proposition if the current private sector can shut down government as an employer. The marketplace God says that labor is in surplus, so be it!
Zombie lies. They just keep coming back, and the MCM will not try to kill them off if doing so offends their pay masters.