In Europe and America … No Retirement! Just Sufferin’

In Europe and America … No Retirement! Just Sufferin’

Friday, February 24, 2012 – by Staff Report

George CarlinEurope’s Banker Talks Tough … Draghi Says Continent’s Social Model Is ‘Gone,’ Won’t Backtrack on Austerity … European Central Bank President Mario Draghi warned beleaguered euro-zone countries that there is no escape from tough austerity measures and that the Continent’s traditional social contract is obsolete, as he waded into an increasingly divisive debate over how to tackle the region’s fiscal and economic troubles … In a wide-ranging interview with The Wall Street Journal at his downtown office here, Mr. Draghi reflected on how the region’s travails were pushing Europe toward a closer union. He said Europe’s vaunted social model—which places a premium on job security and generous safety nets—is “already gone,” citing high youth unemployment; in Spain, it tops 50%. He urged overhauls to boost job creation for young people. There are no quick fixes to Europe’s problems, he said, adding that expectations that cash-rich China will ride to the rescue were unrealistic. He argued instead that continuing economic shocks would force countries into structural changes in labor markets and other aspects of the economy, to return to long-term prosperity. – WSJ

The real owners, forget the politicians … you have no choice. You have owners. They OWN you. We know what they want … They want more for themselves and less for you … They’ll get it! The vanishing pension that disappears the moment you come to collect … The game is rigged! … And nobody seems to notice. Nobody seems to care. – George Carlin (one of his last performances).

Dominant Social Theme: We’ve just destroyed the fundaments of post-war Western society. Demolished them. Ho-hum. “Nobody notices. Nobody cares.” You shouldn’t, either.

Free-Market Analysis: This is historic stuff. The end of Dreamtime, folks. We keep hearing one of George Carlin’s last video clips playing over and over in our pointy heads like a bad rock ‘n roll song.

His soft, angry voice recites all the ways the good people of the American middle class are being screwed by the “club.” (Yes, it’s a club. “And YOU AIN’T IN IT.”) And then adds … Nobody seems to notice. Nobody seems to care.

Yesterday we noticed an AP article explaining the idea of retirement had gone a-glimmering for many Baby Boomers. You can see that article here: No Retirement: Misled Baby Boomers May Die at the Office.

Today the Wall Street Journal runs an article by Mario Draghi explaining that Europe’s vaunted system of socialism is over, finished, vanished, kaput.

Nobody seems to notice. Nobody seems to care.

It’s really incredible. The whole post-war period was nothing but an elite dominant social theme.

A story. A fable. A tall tale. A lie.

What was the point? Well … obviously it was to bring us here, to THIS point. Fifty years after the Modern Age was “invented” by John Maynard Keynes and David Rockefeller (chief architects of the post-war global economy), we’re apparently back to where we started.

Post-war Baby Boomers were the subjects of a kind of elite carpet-bombing. Remember the arguments that raged “across the pond”?

• The European cradle-to-grave socialism was either a sign of a mature civilization or its decline.

• The American model of investment capitalism was either a sign of a free-market confidence or cowboy capitalism.

Of course, the argument was bogus. The dialectic turns out to have been fake. Neither model was sustainable. Both were destined to fail. Take a step back. Look at the “big picture.” Try to adopt the intergenerational perspective of the great central banking families, the ones that control the BIS and the trillions that its minion-banks generate.

This one-world conspiracy is a patient one. Its modern incarnation started after the Civil War, perhaps at the beginning of the 20th century. Once central banking – monopoly fiat-money printing – became feasible worldwide the larger conspiracy could be activated.

And what was that? Well … the idea was to create a New World Order, one-world governance. Nation-states would have to be crushed. But the buy-in of Western middle classes was necessary.

And so, apparently, these paradigms were invented and cultivated. In the US, post-war citizens in the mid-20th century were subject to intense pressure to “invest.” The information was virtually overwhelming.

After a while, companies started cutting back on regular pensions and the 401K came into vogue. You were forced to “invest” in the most fragile of all facilities – the mutual fund. Regulated almost to death, clumsy as a medicated cow, these “safety first” vehicles were offered to a wary public as a way to ensure a livable retirement.

Europe dispensed with all that, however. The European tribes enjoyed the directness of government largesse without the securities industry intermediary. This was considered by many to be more “humane and logical.”

In fact, both solutions were the same. They emphasize the fierce, nurturing authoritarianism of the state. In Europe, the socialist state bestrode society like a colossus. In America, regulatory democracy was in vogue.

But in both places, the STATE was the driver. This had to be so. Mercantilism is the way the power elite controls society behind the scenes. No state, no power. The state had to be supported and expanded at all costs.

It was a most useful and clever strategy. Via taxes, employment and “investing” in banks and companies owned by the Anglosphere power elite, Western middle classes basically paid for their own enslavement.

Every few years, central bank monopoly-money printing collapsed the markets, and the middle classes let out a collective groan of agony. The great leaders of the West would meet and invoke the specter of ruinous collapse.

Eventually, thanks to the good, gray technocrats of central banking, the crisis would be averted. Hallelujah! Books would be written. “Leadership” would be extolled. Politicians would be enriched.

And so it went. Using their control of the central banking economy, Western elites have been building one-world government patiently for a century. They created the great “retirement” debate between Europeans and Americans to ensure that the West’s middle classes – their main opponents – would be too distracted by dialectic to notice the larger danger building in front of their noses.

And now the trap has been sprung. There is the phony “austerity” in Europe and the equally phony depression in the US. But none of it has to be. All of it is a result of “economic forces” that have been created out of whole cloth by the elites that have organized the current global economy. Here’s more from the honorable Draghi:

“You know there was a time when [economist] Rudi Dornbusch used to say that the Europeans are so rich they can afford to pay everybody for not working. That’s gone,” Mr. Draghi said. “There is no feasible trade-off” between economic overhauls and fiscal belt-tightening, Mr. Draghi said in the interview, his first since Greece sealed its second bailout …

Though Mr. Draghi welcomed the relative calm that has descended on European debt markets in recent months, he said credit remained scarce, especially in Europe’s struggling southern fringe. Despite Europe’s vast wealth, it has gone to the International Monetary Fund three times for aid—for Greece, Portugal and Ireland—and is going back again for additional assistance for Greece.

You see? Article by article, the veil is apparently going to be ripped away. Nothing’s working, not really. Welcome to a new elite dominant social theme. A half-century of debate, a Western civilization fully embroiled in the arcane (outrageous) “wonkery” of how government could provide for its people. Trillions of words, trillions of dollars, millions of smug academics, politicians and corporate executives extolling this, that or the other model.

And it was simply a promotion. An elite dominant social theme. A Dreamtime. See … they needed a “buy-in” while they gradually erected the New World Order – the UN, the IMF, the World Bank, the International Criminal Court, NATO, the World Health Organization and various trade associations. They didn’t want people making trouble, agitating against what they were building.

And now it’s built. There is a fully functioning world government, still young but learning to walk. Like a victorious vampire it will soon feed on the blood and agony of citizens around the world. That seems to be the plan.

Having built up phony prosperity via monopoly fiat, the great central banking families are apparently moving to the next phase. Out of prosperity shall emerge poverty. Out of the banking establishment shall emerge … implacable sovereign debt. Out of the Chinese “miracle” shall emerge the third and final regional insolvency.

Yes, as we’ve often pointed out, China’s economy shall likely be the last to tumble down. And after China … sooner or later … the deluge. Worldwide depression. (If it’s not already here.)

Watch, folks. Listen to the calls for global governance as all this unfolds! Listen to the chants for worldwide money! The only thing that will save the planet, we’ll soon find out, is an ever-greater political union. “We” are all in it “together.” It takes a village … a global one.

Those who object shall be silenced – either by ostracism or brute force. Those who have doubts shall be penalized, publicly or privately. Fear will encircle the globe like a single, gigantic chemtrail.

Economic collapse is part of it. The other part is war. In the Middle East, the powers-that-be have destabilized most of the regions’ sectarian governments. The Muslim Brotherhood and related false-flag Islamic elements are being prepped to take over.

War is in the offing. Military stand-offs at the very least. A clash of civilizations is being invoked. The battle against terror shall rage with ever more authoritarian consequences.

Western countries are being turned into authoritarian reservations. Cash is being outlawed. Soon, perhaps, you’ll need a passport (in the US anyway) to travel from state to state.

A two-part strategy. The same elements as in the Great Depression. Economic ruin and “war on terror” will create the conditions for the New World Order.

This is our hypothesis, based on the memes we discern and the dominant social themes now emerging. Of course, we’re not supposed to notice. We’re supposed to think that what’s going on is normal and natural.

Yes, the markets were supposed to take care of our investments but it didn’t work out that way. The state was supposed to send us money, but now the state’s bankrupt.

You see … Nobody to blame. Everybody tried hard. Everybody meant well. But now there are only layoffs, austerity, scorched earth. We ask … Where’s the anger, folks? Where are the REAL explanations, the summaries of what’s actually taking place?

Sure, Greece is yet in flames and other countries have seen protests. And there’re the (elite-controlled) Occupy Wall Street demos in the US. But most of the anger, even outrage, is aimed at the disintegration of the social compact. We don’t see a lot of commentary (hardly any) on the unraveling of the larger meme.

Won’t somebody comment on the sheer audacity of Western “leaders” that with corporate, religious and military connivance, led hundreds of millions down false paths. None of this is a “mistake.” Heck, didn’t these son-of-a-guns plan it? This is THEIR economy. Their central banks. Their fiat money.

We don’t seem this being mentioned for some reason, not in its fullest form anyway, not even on the alternative ‘Net media. The biggest fraud of all time is being pulled off in front of your noses. A global switcheroo. A deliberate, worldwide, intergenerational con game that is now entering its final stages. Doesn’t it upset you? Doesn’t it deserve more … exposure?

Conclusion: Nobody seems to notice. Nobody seems to care …

Posted by Bischoff on 02/26/12 03:02 AM
Dottie,

Also, they have shortened the 99 month unemployment compensation eligibility to 77 month.

On the other hand, they have opened disability payments under the federal unemployment system to be made to people disabled by stress of being unemployed. If you are eligible for the diability payment, you don’t have to worry about an eligibility period. There is none. You get paid as long as you are stressed by not having a job. Cute, ain’t it… ???

Ingo

If there weren’t so much even worse nonsense going on, I’d be stressed, in fact probably enraged, by the fact that you can get paid for being stressed. As things stand it does not really bother me. But I still have to wonder if anyone I know is collecting that.

A friend of mine went to prison at eighteen, and rightly so. At twentyfour he did something else stupid, which lost him his left index finger to the second knuckle. He is right handed. Twenty-seven years later he still gets a monthly federal check for over $1400.

Login To Reply

Posted by Bischoff on 02/26/12 03:02 AM

Posted by dotti on 02/25/12 05:12 PM
Thanks, Danny!

I agree that things are not getting better, but when others cheerfully say that the economy is improving, I just don’t know what to say. I feel like a real wet blanket!

Dottie,

Also, they have shortened the 99 month unemployment compensation eligibility to 77 month.

On the other hand, they have opened disability payments under the federal unemployment system to be made to people disabled by stress of being unemployed. If you are eligible for the diability payment, you don’t have to worry about an eligibility period. There is none. You get paid as long as you are stressed by not having a job. Cute, ain’t it… ???

Login To Reply

Posted by Bischoff on 02/26/12 02:40 AM

“The vanishing pension that disappears the moment you come to collect … The game is rigged! … And nobody seems to notice. Nobody seems to care. – ”

What’s with all the whining… ??? These convoluted explanations as to how and why pensioners are screwed, are not necessary. There is a much easier way to explain it all.

When did we get the Social Security Act… ??? The answer is in 1935.

When did we get the Fed central bank and an irredeemable, debt monitized currency system… ??? That’s right, with the National Banking Act in 1935.

So, what’s my point… ??? My point is that as long as we had a redeemable currency system, people could save for their old age by buying gold bonds, earn interest and get their gold back after 20 or 30 years without loss of value.

When the monetary system was changed to an irredeemable, debt monitized currency, saving for old age was no longer possible. Saving debt doesn’t make sense, does it… ???

Investing your irredeemable currency in a bond, may earn some interest, but the interest seldom beats inflation, and upon maturity of the bond after 20 or 30 years, the value of the bond in irredeemable currency is a fraction of the value at the time of purchase.

Knowing that Americans were unable to save for old age without gold, the Congress created the SS Act as a promise to Americans that they would have a secure pension in return for losing their gold with FDR’s gold confiscation.

With the passage of the SS Act, Americans were told they no longer needed gold, because they had a firm promise from the U.S. government that it would collect all the money needed from current workers to pay a pension to current retirees. The collections were to be kept in a separate SS account specifically to pay for Social Security benefits.

That didn’t happen, did it… ??? Consequently, the SS account shows a lot of IOUs for money which was taken from the SS account, and put into the general fund for other uses.

As the debt monitized currency system breaks down, federal politicians become more and more desparate to make SS collections.

The value of the USD/FRNs collected from employers and employees for SS have a value that derives from productivity. The value of the USD/FRN paid to retirees is now under attack by the latest political scheme which is the “payroll tax collection holiday”.

This means that SS contributions will be short to meet benefit requirements and the shortfall will have to be made up with specially created USD/FRNs. The SS recipients will receive USD/FRNs which will no longer have value backed by productivity, but whose value is diluted by QE1, QE2, QE3, just as is the value of every other USD/FRN in the general fund pool.

It isn’t hard to figure out what ails the pesnion system. There is no need to go into long conspiracy theories and to point to boogeymen for an explaination. The reason for the pensions problems lies in the existence of an irredeemable currency regime which gave rise to the SS Act in the first place.

It’s been 77 years, and people still haven’t figured it out. Does any one care… ??? Why doesn’t anyone care, that should the question.

Login To Reply

Posted by Danny B on 02/26/12 12:10 AM

This is something that I just ran across. Evidently, there was a plan in the new highway bill to have federal employees pay more into their pensions to fund the highway bill.
“key forms of paying for the bill, a provision to have federal employees pay more into their pensions, was used instead to help pay for the extension of unemployment benefits,”
So, it was originally planned to steal the pension funds to pay the highway bill. Then, the funds were re-hijacked to pay for unemployment benefits.
Click to view link
A similar mandate was forced on USPS to where they had to set aside retirement funds for potential employees that hadn’t even been born yet.

Following the example of Argentina, it won’t be long before pension funds are converted into GOV bonds.

The Pension Fund Guarantee Corporation seems to be a corporation but,,, it is a
dot GOV. It is already reporting some big losses.
Click to view link
From memory, the cost of unfunded federal pensions is $ 81 trillion. So, what do you think will happen when D.C. cancels all those pensions?
“security project to lock down gateways to the U.S. Capitol ”
“the targets are ‘car bombs or groups of people or whatever the threat may be.’
Click to view link

Login To Reply

Posted by c.martel on 02/25/12 07:55 PM

Posted by josejoe on 02/25/12 11:51 AM
well, that’s what a good many religions of the world tell us and of course we really don’t KNOW, however it’s in the best interest of those who follow moses-the original con man- would have us believe in order to keep collecting the high rent of the synagogues and manning the money changers tables!

josejoe – “And do not fear those who kill the body but cannot kill the soul. But rather fear Him who is able to destroy both soul and body in hell.” Matt 10:28

Login To Reply

Posted by dotti on 02/25/12 05:12 PM

Posted by Danny B on 02/25/12 04:25 PM
Dotti, employment numbers are not improving.

Click to view link

“They” just keep lowering the employee participation rate to get whatever employment rate they want. Keep in mind that the above graph is from the BLS. I’m sure that you know that Shadowstats has graphs that more accurately show reality.

Here is a wider view of the world.

Click to view link

Thanks, Danny!

I agree that things are not getting better, but when others cheerfully say that the economy is improving, I just don’t know what to say. I feel like a real wet blanket!

Login To Reply

Posted by Danny B on 02/25/12 04:25 PM

Dotti, employment numbers are not improving.

Click to view link

“They” just keep lowering the employee participation rate to get whatever employment rate they want. Keep in mind that the above graph is from the BLS. I’m sure that you know that Shadowstats has graphs that more accurately show reality.

Here is a wider view of the world.

Click to view link

Login To Reply

Posted by dotti on 02/25/12 04:03 PM

Posted by speedygonzales on 02/24/12 04:42 PM
I do not think people will be pleased to see it:

The viciously circular nature of mythical wealth and hyped valuation has produced some extraordinary spectacles in recent months: tactics and ‘explanations’ have been put forward worthy only of a place in the sort of black satirical novel that even Swift never quite got round to writing. But perhaps the most striking contemporary example is that of Mario Draghi’s European Central Bank providing money to private eurobanks, in the hope that they will carry on purchasing worthless government bonds, and thus stave off the sovereign defaults caused by incontinent lending by those very same banks to those very same sovereign States.

What turns something potentially comic into certain tragedy is that none of this money will go to stimulate either the output or demand that these sovereign EU member States need to recover.

If ever there was a clear signal that we are months away at most from the Tulip Moment, this is it. For if the US recovery isn’t real (and trust me, it isn’t) and the EU economy is grinding to a halt (and trust me, it is) and Chinese growth is disappearing in this context of falling consumption (and trust me, it is) then all those stock markets based on results that are a confection – and stocks kept artifically high by those results – will collapse.

That is going to create a demand for cash never even envisaged before in the entire history of Bourse capitalism. And it will be, without any shadow of doubt, the Tulip Moment.

Click to view link

A “demand for cash”? Cash as in USDs?

I tend to believe what you say about the recovery being not for real, but do you have proof to offer. People are believing that there is a recovery. Unemployment numbers are improving. People are spending.

I believe you, but find it hard to convince others that there is no real recovery.

Login To Reply

Posted by dotti on 02/25/12 03:47 PM

This article is so very good–but so very discouraging at the same time.

My friend thinks that the Greeks are getting what they deserve. They conduct their business “underground” and refuse to pay taxes, yet want services. Yes. They need to “learn their lesson”.

I ask: “How are they different from us?” Not much of an answer. We are Americans. We work hard. We pay taxes.

Oh, yeah?

I say: “What about our current account deficit? We are consistently consuming more than we are producing.”

Ny friend: “It is only in the way the numbers are calculated. We deal in finance. How can you account for that in the current accounts?”

Sorry. I see what most of you guys here at DB see: It is starting with Greece, but it will cover the earth. All of us will be debtors and our creditors will be the central bankers–or the owners thereof. They create money and “lend” it to us. Then we owe interest to them in perpetuity.

I vascilate between outrage and an apathy born of a feeling of being powerless to do anything to overturn the wickedness of the power base, which pervades the MSM, politics, our educational system, and all other “institutions”. Mostly, I just want to be invisible.

Good news, though! Sold my place in S. Alabama. Now I have the resources to make my home here in Appalachia. I love it here!

Take care, All.

Login To Reply

Reply from The Daily Bell
Congratulations.

Posted by truthbetold on 02/25/12 01:27 PM

Exxxxxxxxxxxxxxcellent eye opening explaination of the the scullduggery being perpetrated worldwide by a few psychopaths in suits… … it turns my stomach and enrages me to see the different sold out politicians spewwing there BS lies on television… … ..the horrible truth is we allowed it to happen right in plain sight with only a few bleeps of protest.

Login To Reply

Posted by josejoe on 02/25/12 11:51 AM

Posted by c.martel on 02/24/12 03:52 PM
“Why do the nations rage and the people plot a vain thing? The kings of the earth set themselves, and the rulers take counsel together, against the Lord and against His Anointed, saying ‘Let us break Their bonds in pieces And cast away Their cords from us’.
He who sits in the heavens shall laugh; The Lord shall hold them in derision. Then He shall speak to them in His wrath, and distress them in His deep displeasure.” Ps 2:1-5

well, that’s what a good many religions of the world tell us and of course we really don’t KNOW, however it’s in the best interest of those who follow moses-the original con man- would have us believe in order to keep collecting the high rent of the synagogues and manning the money changers tables!

Login To Reply

Posted by Danny B on 02/25/12 11:07 AM

Theodorej “The question of retirement is DID YOU EARN IT through wise investments that payed dividends”
Yeah, RIGHT.
The question is; Did you trust the system enough to invest in it OR did you mistrust the system / GOV and invest in something that GOV couldn’t easily steal.
It was only a short time ago that everyone’s 401K became a “201K”

Investing in the system is a vote of confidence for banking and GOV. Reduced to;
The blind following the criminals.

Login To Reply

Posted by ShortyDawkins on 02/25/12 08:00 AM

Finally! An article that spells it all out. Excellent! Yes, it has all been a dream. A lie. A false meme. Yet, few listen. Most believe their Gocernment really cares about them. It is sad, really. The great numbers of people who will soon be sacrificed for the glory of the few, many of whom will go to the slaughterhouse willingly, just refuse to see what is in front of the eyes. They just say, “Help Us, please” when they should be helping themselves, their families and their neighbors. Empires are built on human misery. The greatest Empire of all time, the One-World Empire, will be built on vast human misery. The deluge is coming, whether we like it or not. All the lies have been exposed, but few will bother to look at them.

Shorty Dawkins

Login To Reply

Posted by rossbcan on 02/25/12 07:34 AM

Posted by theodorej on 02/25/12 07:11 AM
Greetings … . You are not your brothers keeper … To be in an advisory capacity one either has experienced bad health or has been exposed to it for a sustained period of time… Just because someone has a piece of paper attesting to their brilience on the subject their advice would be as questionable as mine and Iam not an authority by any means… We do not need an elitist of any kind to restore sanity , we need character and a healthy respect/fear for the creator of all things … We were not purposed to be slaves to any man/ good elite or bad elite… Leadership yes,bondage No…

I would really like a “connect the dots” explanation regarding:

a – HOW the “rule of law”, reactionary philosophical guidance regarding how to intelligently and justly REACT to those who cause harm, to protect civilization within our personal domains, can be interpreted as “procative”, or “pre-emptive justice”.

b – How my “good elites” statement (those with financial reouurces), willing to invest in restoration and truly free enterprise with those willing (voluntarily) to participate.

… leads to your authoritian / slavery interprtetaion?

this is not intended as a slight of you. I attempt to CLEARLY communicate and yet, it is alleged I am some sort of arrogant “brother’s keeper”.

So, how do you get from what I consider a clear statement, consistent with liberty to a completly opposite interpretation, so I can be clearer next time?

Login To Reply

Posted by theodorej on 02/25/12 07:19 AM

Posted by Danny B on 02/25/12 01:47 AM
The question of retirement is a question of deferred-consumption. When you defer consumption,,, someone may steal it. Social Security is holding about $ 7 trillion in non-negotiable treasury bonds. Sounds like a lot of “money”. The private sector has some astonishing numbers too.

“According to Credit Suisse, of the 341 companies in the S&P 500 index with defined benefit pension plans, 97 percent are underfunded today. According to a recent pension study by Seattle-based Milliman Inc., the combined deficit of the 100 largest defined-benefit plans in the US increased by $236.4 billion in 2011 alone”
Holy crap,,, that’s just the increase!!

Europe;
” Europe, unfunded state pension obligations are estimated to total
$39 trillion dollars, which is approximately five times higher than Europe’s combined gross debt.”

America, public;
“In the United States, unfunded pension obligations increased by $2.9 trillion in 2011. If the US actually acknowledged these costs in their deficit calculations, their official 2011 fiscal deficit would have risen from the reported $1.3 trillion to $4.2 trillion”
Holy crap,,, again.
Click to view link

The $ 7 trillion from SS doesn’t look like such a big deal compared to the latest increases.
The FED is buying 91 % of long-dated U.S. bonds. Investors have long since fled.
So, either FED GOV defaults on pension obligations OR it inflates away their value.
There are going to be a LOT of pissed off G-Men.

The question of retirement is DID YOU EARN IT through wise investments that payed dividends or is it an entitlement given you either by the government or an employer of which the expense is put on me, the productive element in an economy… We are not meant to retire… . We are to have sabaticals and we charged to earn our keep through the sweat of our brows NOT our neigbors’… Wise investing make earning your keep physically easier … work is good for the soul … there to many people sitting on their asses..

Login To Reply

Posted by theodorej on 02/25/12 07:11 AM

Posted by rossbcan on 02/24/12 05:53 PM
… which is why I believe we are in the crossfire of “good elites” (hoping to wake us up and “bad elites” (hoping to enlsve us and cull those “not of use”) in a temporaty unity of action alliance, hitting us with sticks until we “do get it” and defend ourselves.

Then hopefully, after the dust settles, “good elites” will assist us with carrots and restoration of the “rule of law”:

Click to view link

or, if it turns out there are no “good elites”, we will do it ourselves.

Greetings … . You are not your brothers keeper … To be in an advisory capacity one either has experienced bad health or has been exposed to it for a sustained period of time… Just because someone has a piece of paper attesting to their brilience on the subject their advice would be as questionable as mine and Iam not an authority by any means… We do not need an elitist of any kind to restore sanity , we need character and a healthy respect/fear for the creator of all things … We were not purposed to be slaves to any man/ good elite or bad elite… Leadership yes,bondage No…

Login To Reply

Posted by theodorej on 02/25/12 06:59 AM

Well … . It looks like the party is over and the moochers and pensioners will be hitting streets anyday now… Perhaps your senario is what the world needs,with exception only to a ruling elite … . A retreat back to an agrarian society where by you exist through the sweat of YOUR brow not your neighbors… In addition some gratitude to the creator for the blessings received … . A better world is on the way,however,what lies ahead will try mens souls…

Login To Reply

Posted by Joe on 02/25/12 06:26 AM

Usury destroyed the previous empires and it will do the same with the present empire, there is no work around or quick fix, all attempts to stop it are vain. The only solution is to admit it and to strive to replace it with the truth and we all know that this is not going to happen. The elites are stupid if they think they can continue to rescue their system… they are little helpless bubbles in the historical tsunami wave that will sweep them away… this is how empires implode and the little humans caught inside the events are usually unaware of the end.

Login To Reply

Posted by Danny B on 02/25/12 01:47 AM

The question of retirement is a question of deferred-consumption. When you defer consumption,,, someone may steal it. Social Security is holding about $ 7 trillion in non-negotiable treasury bonds. Sounds like a lot of “money”. The private sector has some astonishing numbers too.

“According to Credit Suisse, of the 341 companies in the S&P 500 index with defined benefit pension plans, 97 percent are underfunded today. According to a recent pension study by Seattle-based Milliman Inc., the combined deficit of the 100 largest defined-benefit plans in the US increased by $236.4 billion in 2011 alone”
Holy crap,,, that’s just the increase!!

Europe;
” Europe, unfunded state pension obligations are estimated to total
$39 trillion dollars, which is approximately five times higher than Europe’s combined gross debt.”

America, public;
“In the United States, unfunded pension obligations increased by $2.9 trillion in 2011. If the US actually acknowledged these costs in their deficit calculations, their official 2011 fiscal deficit would have risen from the reported $1.3 trillion to $4.2 trillion”
Holy crap,,, again.
Click to view link

The $ 7 trillion from SS doesn’t look like such a big deal compared to the latest increases.
The FED is buying 91 % of long-dated U.S. bonds. Investors have long since fled.
So, either FED GOV defaults on pension obligations OR it inflates away their value.
There are going to be a LOT of pissed off G-Men.

Login To Reply

Posted by alexsemen on 02/24/12 06:54 PM

Posted by tlmartin on 02/24/12 03:41 PM
That couldn’t be more true. We also need to move out the old guard in both parties in the house and senate.

USA deslusional ! Is this some kind of compliment!!??

Login To Reply

1 2 3 Next

http://thedailybell.com/3643/In-Europe-and-America-No-Retirement-Just-Sufferin

One response to “In Europe and America … No Retirement! Just Sufferin’

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s