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Voter backlash? Do you think Washington listens? If MF Global can take (steal) money out of segregated accounts to pay for its bad gambling on EU bonds and Corzine & Co. are not doing a perp walk, then yes, the government can digitally steal (erase) pensions of why people have no physical possesion.
I've not suggested an investment or place for people to put their pension$$; just that they don't keep pretending everything will be fine. Pensions are at risk and this article linked by the OP is but a sign, tip of the iceberg.
That still doesn't explain why people want that barbaric yellow metal.
- Most promising disciple of the Flat Earth Society.
Bad faith? If those pension plans were voluntarily agreed to, and they were, who's showing bad faith when they later say, "Oops. Sorry. We never meant it."
Isn't that what they want to do with SS ?
Ooops..we changed our minds. That money we took from you..well, we're gonna keep it. Actually we spent it as quick as it came into the Trust Fund.
The debt is only a problem because the Tea Party, filled with brainless old boomers who don't realize that this isn't 1950 anymore, has decided that it is a problem. This is like giving someone $100 to pay their rent, and then accusing them of having a debt problem when they have to sell the couch to pay it.
A debt driven service economy, where capital is not created but only moved around like a pea in a shell game, is a failed design. The FED does not create capital by printing money, it only devalues that which already exists. The size of our economy shrinks at approx. 30%/annum and we are unable to pay our bills. Borrowing money to pay interest to service our debt is a real problem no matter how far down in the sand you'd like to stick your head.
Quote:
Originally Posted by HappyTexan
Isn't that what they want to do with SS ?
Ooops..we changed our minds. That money we took from you..well, we're gonna keep it. Actually we spent it as quick as it came into the Trust Fund.
Let me repeat, there is no social security Trust Fund. You have no SS account. There is only a ledger showing what you should be owed if the government is able to pay the "entitlement". Your contributions into SS have already been spent.
A debt driven service economy, where capital is not created but only moved around like a pea in a shell game, is a failed design. The FED does not create capital by printing money, it only devalues that which already exists. The size of our economy shrinks at approx. 30%/annum and we are unable to pay our bills. Borrowing money to pay interest to service our debt is a real problem no matter how far down in the sand you'd like to stick your head.
Effectively that is the case because of where the money is going.
This national debt is a problem delusion will allow it to be used as a tool to frighten the populace into austerity. They need to know what it is. We defaulted on the commodity debt a long time ago. Now the national debt is the money supply. Its where that credit is going that matters. You can oppose it; you can try to kill it; whatever, but money going to a credit starved goods and service economy isn't the problem. We have a foreign debt problem, and a private debt problem, not a national debt problem. The money supply is private debt + national debt.
The national debt isn't a problem because there is no actual debt. Da guberment prints money, just like the banks. The problem is what da guberment spends its money on. Taking money from Federal employees is actually a tax cut in real terms because real consumption for Federal employees will fall.
What are you referring to? bonds? Cause our govt doesn't print it's own "money" which it should. Not since 1913. All funds are slush funds. Look at how both the big govt and the big corps have been using pension funds to make profits.
Effectively that is the case because of where the money is going.
This national debt is a problem delusion will allow it to be used as a tool to frighten the populace into austerity. They need to know what it is. We defaulted on the commodity debt a long time ago. Now the national debt is the money supply. Its where that credit is going that matters. You can oppose it; you can try to kill it; whatever, but money going to a credit starved goods and service economy isn't the problem. We have a foreign debt problem, and a private debt problem, not a national debt problem. The money supply is private debt + national debt.
I'd argue this further with you but that would be taking this thread too far off the topic of the Federal government raiding pensions. For now we'll have to agree to disagree.
That still doesn't explain why people want that barbaric yellow metal.
- Most promising disciple of the Flat Earth Society.
Well I hate to break it to you, but the shadow economy, w/ the big players does use gold. (Central Banks and Govts et al.) Not sure what is barbaric about gold though.
Ultimately, whether it is gold or whatever it needs to be in relationship to the "real tangible world". Not fabricated endlessly.
What are you referring to? bonds? Cause our govt doesn't print it's own "money" which it should. Not since 1913. All funds are slush funds. Look at how both the big govt and the big corps have been using pension funds to make profits.
You forgot the Dem legislature who cooperated with Christie in NJ and the Dem treasurer and legislature in RI who reduced future pensions liabilities too. Stop the mindless demagoguing. Its math, not politics.
Suck it up and move on.
Quote:
Originally Posted by stillkit
Not to worry. The Republican's will find some way to cheat those workers out of their promised pensions anyhow, just as they've done in Wisconsin, Ohio and Indiana, among other places.
Ok, I see what you meant. I am quite well researched on the Fed so they scratch each others back, but it isn't the same thing. So gotta disagree w/ you there. Yes I have seen this article before.
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