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Friday, February 3, 2017

TED: Why we need Social Security and Pension Systems - NOT Numerate Pop!

Sort of a British talk but with International perspective!  Today Trump proposed that financial advisers do not have to take their clients interests into account when providing advice.

Considering financial markets let alone numbers are beyond most of us ... that is fraud waiting to happen.  Eliminating Social Security will create hundreds of millions of "suckers".

Think you're good at guessing stats? Guess again. Whether we consider ourselves math people or not, our ability to understand and work with numbers is terribly limited, says data visualization expert Alan Smith. In this delightful talk, Smith explores the mismatch between what we know and what we think we know.
In general most of us are not good with numbers let alone statistics.  See the Kahneman piece on Thinking, Fast and Slow.  It is another point on why we get things wrong just when it is critical that we get them right.

As an aside one has to wonder why the GOP and its leaders, like Ryan, are always trying to do in Social Security.  It is not bankrupt and projected to be solvent for years to come, and there are so many ways to adjust it without being unfair.  It comes down to the fact that corporations have to pay in a matching amount to your contribution.  Cutting that in any way amounts to big tax cut for businesses and shareholders.  So obvious it is easy to miss.

#TED >Why we need #SocialSecurity and Pension Systems - We are mostly NOT Numerate people! #Kahneman i.e. few people can really count or save like they should!  WI 1848 Forward

Corporate #TaxBreak NOT #TaxReform WI 1848 Forward: The real reason the #GOP , #Ryan wants to cut #SocialSecurity

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