Wednesday, May 18, 2016
Recompense
Stockman:
Quick figuring: Yes! Start with the inflation-adjusted total of all my income, and then take 15% of it to represent my SS "account". Add my real savings which I'm getting ZERO INTEREST on. This sum represents my total savings through both channels. Assume that a normal pre-Chosen-theft return on an annuity would be about 6%. And sure enough, my annual SS is within a few hundred dollars of that 6% return.
This is purely coincidental since the SS would be the same if my personal savings had been zero or a million; but it's still nice in an Emersonian sense.
Stockman:
Oh, yes, the monetary geniuses who peddle the 2% inflation gospel claim we are all in it together. That is, prices, wages, profits, rents and even indexed social benefits allegedly all march upwards at 2% per year, and, save for minor leads and lags in timing, no one is financially worse for the wear.Interesting word. When I decided to take SS at age 62, I was trying to get moral revenge for the Chosen theft of all interest on savings. I didn't think of it in simple math terms as a "recompense." Does it work out?
C’mon. That’s rank poppycock. The truth is, savers get killed and borrowers get windfalls; the wages of upper-end workers keep-up, while the purchasing power of paychecks lower down the ladder shrinks continuously; social security recipients get recompense, private pensioners get shafted.
Quick figuring: Yes! Start with the inflation-adjusted total of all my income, and then take 15% of it to represent my SS "account". Add my real savings which I'm getting ZERO INTEREST on. This sum represents my total savings through both channels. Assume that a normal pre-Chosen-theft return on an annuity would be about 6%. And sure enough, my annual SS is within a few hundred dollars of that 6% return.
This is purely coincidental since the SS would be the same if my personal savings had been zero or a million; but it's still nice in an Emersonian sense.
Labels: Emersonian justice, TMI
¶ 6:27 AM
