Questioning Bernie is a Democrat is a Third Way Talking Point

[FreakinDJ]

26. They did it in Argentina and it was RAIDED br Corporatist

Even when faced with FACTs Privatization of social Security causes Financial Markets to FAIL they keep pushing the agenda

WHY - Because Wall St LOVES them some Vulture Capitalism

Argentina Could Show Greece A Way Out Of Its Crisis



During the 1990s, burdened with a heavy debt, Argentina implemented a series of far-reaching “free market” reforms similar to the austerity policies implemented in Greece today. These included privatisation of all state enterprises, utilities and the “pay-as-you-go” social security system. Trade, finance and the labour market were all radically deregulated. Finally, Argentina implemented a currency board which pegged its currency to the dollar on a fixed, one-to-one, exchange rate. In doing so, Argentina de facto renounced the possibility of carrying out independent monetary policy, which is critical to any country’s ability to manage its economic health. The currency board was a less drastic measure than the Euro monetary union, but almost as damaging.

Far from putting Argentina on the path of debt sustainability, economic reforms made matters worse, with the privatisation of social security particularly harmful to fiscal accounts. As Argentina’s rapidly growing debt became unsustainable, it turned to the IMF for bailouts. The IMF’s conditions, like the Troika’s today, turned Argentina’s recession into a depression, making the debt even more unsustainable. IMF prescriptions were also deeply interventionist, including the requirement that Argentina’s bankruptcy code be changed to facilitate foreign buy-outs of bankrupt domestic businesses and repealing a law against white-collar crime.

https://www.socialeurope.eu/2015/08/argentina-show-greece-way-crisis/

And here is Bloomberg still Pimping Privatizing Social Security

A Social Security Lesson From Argentina

Since 1989, Argentina has rapidly introduced revolutionary reforms that have greatly reduced government regulations and controls. Privatization of its social security system is the most important step of the past couple of years. Argentina's experience demonstrates that, even under very difficult economic circumstances, a nation can successfully convert from a pay-as-you-go (PAYG) social security system to a competitive private pension plan with individual retirement accounts.

http://www.bloomberg.com/news/articles/1996-10-20/a-social-security-lesson-from-argentina

Truth of the matter is Argentina was a budding Capitalist Society where the Working Class saw 75% reductions in the amount their Social Security system paid out

There is a LONG list of countries that have tried this and failed miserably - do you wish me to go on here