Tuesday, March 29, 2005

The Road to Argentina

In today's Opinionjournal.com, Brendan Miniter suggests how the Democrats could ride social security reform into a victory for them and a devastating defeat for the American people and economy. They need only provide that the government itself will invest the social security surplus in stocks and bonds. Inevitably investment decisions will be made for political reasons, and corporations who displease Democrats may be threatened with massive disinvestment, which could destroy many companies. What better way to bring all publicly traded companies to heel?

Political meddling in the securities markets is just what we need to turn us into Argentina.

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