Cynical Nation

Paul Krugman has resurfaced yet again, and this time, same as last, his purpose is to whine and wring his hands about a social security "privatization" plan that hasn't even been proposed yet. (You'll never get that book written at this rate, professor.)

Anyway, his big complaint this time? That commissions and management fees would eat up any real returns on investment. 20% is a figure he tosses out as "typical." Geez, you'd think an economist would have heard of no-load funds or ETFs, wouldn't you? Guess not.

I think Professor Krugman's critiques would carry a lot more weight if he were to ait until there was an actual plan to criticize. That way he'd come across as less of a knee-jerk lefty with a reflexive animus toward the private sector.