Who should you trust?

Fri, 25 Aug 2006 09:40:11 +0100

Interesting. Reading Gladwell (he of tipping point fame) this morning I came across this nugget:

One of the predictable responses to this is that this is the idea behind Social Security is--and look at the problem that program is in. I have to say, though, that what reading I have done into the Social Security issue hasn't convinced me that the program is in all that much trouble--that is, with a number of not entirely painless (but not debilitating) adjustments now, we can avoid a lot of the trouble down the line. Put it this way: would you rather, as a retiree, put your faith in the federal government or General Motors?

Repeated a little further on:

But I'd still rather take my chances with the feds than with GM.

Hrmm... Who should you put your faith in... the feds or a big corporation? Sounds like one of Hobsons choice's to me.

My answer is "neither". Put your faith where it belongs, in yourself. Realise that your government and your employer don't care about your long-term welfare and plan to manage your own future.

I say this as someone who isn't walking the talk (I'm using the alternative plan to work until you drop dead system at the moment) but knows that he should.

We turn to the government out of fear. Fear that when we're at our most vulnerable we'll be left pennyless and unable to turn the gas on in winter. But isn't that where a lot of pensioners living on state benefits are today?

We should build for our own retirement. If the government didn't steal so much of the fruits of our labours and waste it on foreign wars and other self-aggrandizement this would be much easier to do.

I'm surprised and not a little disappointed at a man like Gladwell falling so easily into the statist trap.

Curiouser and Curiouser! on retirement

Who should you trust?