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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: westpacific who wrote (98140)5/31/2009 2:20:30 PM
From: Skeeter Bug1 Recommendation  Read Replies (1) of 116555
 
wp, it is very simple. the boomers loved capitalism when they were working and monetizing much of their efforts and still spending more than they took in.

now that they are in debt and reaching retirement, it is time for someone else to foot their bills - and that is socialism / marxism.

isn't democracy grand as the major voting block votes its own self interest, the welfare of the nation be d*mned?

btw, since the boomers are reaching retirement, NOBODY will be elected on the platform of cutting any of those $50 trillion in unfunded obligations the government has promised.

they will get elected on squeezing more blood from working turnips or borrowing more money.

either way, it ends ugly when the whole system implodes upon itself.

of course, a politician could lie and then do the fiscally sound thing and cut off all social benefits to people wealthy enough to afford funding their own life, but that won't happen.
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