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Politics : Politics for Pros- moderated

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To: Brian Sullivan who wrote (486026)	5/7/2012 9:03:56 AM
From: skinowski	4 Recommendations Read Replies (1) of 793838

From that post: We'll just see a big wealth transfer from the young to the old, until the young get so pissed off they do something about it. Unfortunately, this is exactly true. It is supposed to be the other way around - the older people should have accumulated some assets, and the transfer should be occurring from the old to the young. Instead, with schemes like Soc Security and pensions, to a large degree the only asserts old people presently have are promissory notes, signed long ago by politicians and other "responsible" functionaries, who by now are long gone or dead. From the POV of the young people, the money that those oldsters have paid into the system has been spent decades ago. All they know is that they have to work their butts off to support armies of old people. Whatever assets the baby boomers DID accumulate in their own names are getting devastated by money printing and next-to-nothing interest rates, courtesy of the same dumb a$$ politicians. I think we are about to rediscover that rugged individualism and self reliance work better than long term promises, underwritten by short term politicians.

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