Jeff Berwick You've been sold a bill of goods for the last four to six decades. You've been told that nation-states, democracy and socialism is good. You've been told our monetary system prevents instability. And, while the government and central banks put your unborn children or grandchildren into debt for life they've been telling you that there will be a socialist safety net to protect you and that the "American dream" includes retiring in your 50s or 60s to a wonderful life of golf and lying on the beach.
It even appeared to work for a short while thanks to demographics and the greatest advances in human history.
The baby boom caused by the nation-state (which created World War II) and central banking (which created the depression and funded World War II) was truly a boom creating a once-in-a-lifetime chance to make it appear as though some of these inane socialist theories could work.
A look at the number of workers per retiree in the US shows this plainly.
And, with the advent of the internet, productivity also increased massively in the 1990s and 2000s, further obscuring the collapse to come. And it is coming. In fact, it's already started. So, if you are basing your future retirement plans on what has happened in your living memory you better snap out of it.
SOCIALIST SECURITY – THE ULTIMATE PONZI SCHEME
A ponzie scheme is defined as "a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation". By this definition, the Socialist Security system in the US is a ponzi scheme.
The end of a ponzi scheme is always when net payments outstrip net income. This occurred in 2010 and there is no end in sight even under the US Government's own heavily massaged and always underguesstimated projections.
There is only one reason it and the US Government hasn't gone bankrupt yet. It's because they can still print dollars to cover all these deficits. But how much longer can that realistically last before hyperinflation sets in and the dollar becomes worthless? We can't see any way it goes more than five more years from here... and that's pushing it.Please read more at: