Social Security and IQ

http://www.iSteve.com/05JanA.htm#social.security.IQ

More on Social Security: A reader writes:

I'm surprised you haven't mentioned IQ and privatization yet. How many people really understand portfolio diversification? I have a degree in Finance, and I've got my Financial Math book here with a huge equation outlining how the correlation coefficient between asset A and asset B affect the total risk of the portfolio, etc, etc...but I've gone through grad school and I don't completely understand the math behind this.

How does Bush, Inc. expect the average American to understand portfolio theory? Most stockbrokers don't fully understand it! Only a handful of mathematicians and economists do. Good lord! No wonder Wall St. is licking their chops at this proposal. Talk about a greater fool theory!

Have the Republicans completely lost their minds? The Wall Street Journal reads like a talking points memo from the head of the RNC these days.

Other readers have pointed out that individuals can purchase annuities to insure themselves against the horrible risks of living too long. But, Social Security privatization isn't being sold on the basis of the returns you could get from low risk / low reward annuities but on the potential high rewards you could get from high risk stocks.

Another reader says, "Follow The Money and you'll see why this issue is being pushed now."

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