[roccman]

Each American owes 1/2 million dollars...bwhahahahahahahahahahahahahah!!!!

[Jack]

Actually, there is a simple solution to the issue. Inflation, and lots of it.

Increase inflation to about 12% per year. State that it is about 2%. The spread will mean that the dollar - hence the real value of the debt - will decline by about half over 7 years.

Those with means - i.e., the power structure - will stay in the same tax bracket and will profit from asset based investments.

Those in the middle class - i.e., the poor devils who pay for everything - will be driven into a higher tax bracket while their pensions and various entitlements will be silently eviscerated by inflation. They will be delighted to have more money, not realizing it is worth less. Or, more pointedly, ever more worthless. The middle class regards itself as marvelously financially sophisticated when it tremulously adds a mutual fund to its 401K holdings. Its lack of sophistication will be rewarded with heavily depreciated assets, just in time for their planned retirement - which will never occur. They will continue working, thus adding to the labor pool.

The poor will be ground into the dirt. Their wages will not keep up with inflation, and they have no investments to take advantage of the economic trends. Their real wages will decline, thus improving corporate earnings and making the stock market more robust. It will also make them more vulnerable, hence subservient. This will accrue to the benefit of the affluent.

Note the real versus stated inflation numbers. One might be forgiven for imagining the above program is already policy.

Enjoy.

[Fishman]

Now where was that money we were going to use for universal health care? I do believe a certain Party will have a problem maintaining the nanny state they have created.

[LoneSnark]

legally speaking I owe nothing of the sort. The government could renig on every single one of its promises tomorrow with minimal consequences. Most people saved for retirement anyway, others have pensions, others can be taken care of by family, whatever remains can be handled by charity. There is no doubt the old would be make poorer by such an eventuality, but as they burden society more and more it is only a matter of time before a tax revolt strikes the ballot boxes.

There may be riots at old folks homes, but the economy would probably improve once the majority of the work-force was relieved of the heavy taxation being levied on wages.

[vision-master]

$this->bbcode_second_pass_quote('', 'T')hose in the middle class - i.e., the poor devils who pay for everything - will be driven into a higher tax bracket while their pensions and various entitlements will be silently eviscerated by inflation.

[vision-master]

OK, I watched this clip - Also, I've watched other clips that put the opposite spin on SS. No one is showing the hard data. I'd say this is a right wing spin to privatize the system, great for the rich and nothing for the sheeple. Anyway, the 78,000,000 Boomers will get benefits. Younger peeps? Who knows. :cheers:

[roccman]

$this->bbcode_second_pass_quote('LoneSnark', ' ')Most people saved for retirement anyway, others have pensions, others can be taken care of by family, whatever remains can be handled by charity.

[vision-master]

$this->bbcode_second_pass_quote('roccman', '')$this->bbcode_second_pass_quote('LoneSnark', ' ')Most people saved for retirement anyway, others have pensions, others can be taken care of by family, whatever remains can be handled by charity.

[LoneSnark]

Well, everyone I know has saved for retirement, although some did not start saving until they were in their mid-30s.

As you seem to believe no one saves for retirement, are we to conclude you and your friends have not?

As only 32% of American households are renters, then it is proof that 68% are saving for retirement by buying their own house. Upon retirement they can reverse mortgage it, done-deal. This is the only hard evidence of retirement savings without searching google. 23% of households already own their home outright.

http://mjperry.blogspot.com/2008/01/car ... mpany.html

This is, of course, in addition to all the other instruments for retirement savings such as cashable life insurance policies, 401k's, CDs, etc. etc.

[seahorse]

Americans suffer from the worse form of tyranny, we are debt slaves. All our forefathers warned about tyrannies in its many forms, many warned about debts in general. As Thomas Paine once said in his famous writing "Commons Sense":

$this->bbcode_second_pass_quote('', 'E')very age and generation must be as free to act for itself, in all cases, as the ages and gernation which preceeded it. The vanity and presumption of governing beyond the grave, is the most ridiculous and insolent of all tyrannies.

[TheTurtle]

$this->bbcode_second_pass_quote('LoneSnark', 'A')s only 32% of American households are renters, then it is proof that 68% are saving for retirement by buying their own house. Upon retirement they can reverse mortgage it, done-deal. This is the only hard evidence of retirement savings without searching google. 23% of households already own their home outright.

[roccman]

$this->bbcode_second_pass_quote('seahorse', 'A')s Thomas Paine once said in his famous writing "Commons Sense".

[vision-master]

$this->bbcode_second_pass_quote('LoneSnark', 'W')ell, everyone I know has saved for retirement, although some did not start saving until they were in their mid-30s.

As you seem to believe no one saves for retirement, are we to conclude you and your friends have not?

As only 32% of American households are renters, then it is proof that 68% are saving for retirement by buying their own house. Upon retirement they can reverse mortgage it, done-deal. This is the only hard evidence of retirement savings without searching google. 23% of households already own their home outright.

http://mjperry.blogspot.com/2008/01/car ... mpany.html

This is, of course, in addition to all the other instruments for retirement savings such as cashable life insurance policies, 401k's, CDs, etc. etc.

[basil_hayden]

$this->bbcode_second_pass_quote('Jack', 'A')ctually, there is a simple solution to the issue. Inflation, and lots of it.

Increase inflation to about 12% per year. State that it is about 2%. The spread will mean that the dollar - hence the real value of the debt - will decline by about half over 7 years.

Those with means - i.e., the power structure - will stay in the same tax bracket and will profit from asset based investments.

Those in the middle class - i.e., the poor devils who pay for everything - will be driven into a higher tax bracket while their pensions and various entitlements will be silently eviscerated by inflation. They will be delighted to have more money, not realizing it is worth less. Or, more pointedly, ever more worthless. The middle class regards itself as marvelously financially sophisticated when it tremulously adds a mutual fund to its 401K holdings. Its lack of sophistication will be rewarded with heavily depreciated assets, just in time for their planned retirement - which will never occur. They will continue working, thus adding to the labor pool.

The poor will be ground into the dirt. Their wages will not keep up with inflation, and they have no investments to take advantage of the economic trends. Their real wages will decline, thus improving corporate earnings and making the stock market more robust. It will also make them more vulnerable, hence subservient. This will accrue to the benefit of the affluent.

Note the real versus stated inflation numbers. One might be forgiven for imagining the above program is already policy.

Enjoy.

[MC2]

Actually, we are heading for a deflationary collapse fueled by the credit crisis. I'm sure there are those who would LIKE to be able to inflate our way out of this, but I'm afraid the inflation already occurred several years ago, and now the chickens are coming home to roost.

The dollar will be rising against all other currencies as the world begins to realize they are more f***ed than we are.

[dorlomin]

http://www.ft.com/cms/s/0/80fa0a2c-49ef ... fd2ac.html

"Like the end of the Roman Empire" US comptroller general

[LoneSnark]

$this->bbcode_second_pass_quote('', 'Y')ou consider home "ownership" to be saving for retirement? Have you not been following the news for, uh, the past year? What portion of that 68% do you think actually OWN their home and what portion is up to their neck deep in debt that they borrowed for a home that is worth less today than when they took out a ridiculous loan in headier times?

[cube]

$this->bbcode_second_pass_quote('LoneSnark', 'l')egally speaking I owe nothing of the sort. The government could renig on every single one of its promises tomorrow with minimal consequences..

[wisconsin_cur]

$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('LoneSnark', 'W')ell, everyone I know has saved for retirement, although some did not start saving until they were in their mid-30s.

As you seem to believe no one saves for retirement, are we to conclude you and your friends have not?

As only 32% of American households are renters, then it is proof that 68% are saving for retirement by buying their own house. Upon retirement they can reverse mortgage it, done-deal. This is the only hard evidence of retirement savings without searching google. 23% of households already own their home outright.

http://mjperry.blogspot.com/2008/01/car ... mpany.html

This is, of course, in addition to all the other instruments for retirement savings such as cashable life insurance policies, 401k's, CDs, etc. etc.

[Alcassin]

Yeah, standard mainstream media bullshit - social security, welfare.



Military-industrial complex costs the most - not a word about 'we can't afford empire', rather - no more social security. They can sell the message once - we want to destroy middle class by their own hands.

Military budget is the fastest growing expenditure:



Voodoo economy, governemnt is never smaller, it only arms itself more rapidly.

Moreover nobody on earth, even in Europe pays so much for the health care per capita as Americans. Where is money? 14% of GDP goes on healthcare:



One question, we all have universal healthcare in Europe, how on Earth is it possible to sink so much money? Where is cash from that? And 44 million is uninsured. It's unimaginable.