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overtheedge
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Kiss Your Pension Goodbye! - Dennis Miller - Casey Reseach

Ain't nothing worse than a reformed ________ (fill in the blank).

A long time ago, I was told that people don't change. They just get more so.
Warnings printed on cigarette packages have been around for decades.
Coughing spells get worse.
The people still smoke.

And the few, the very few who did change beat the rest of us to death with their sanctimonious blathering.
"I quit, so anyone can."
Not true at all.

Bad habits are habits.
Habits form by long-term repetition.
A habit can be broken by going cold turkey or by substituting a new habit for the old one.
"Can be broken" only infers a possibility however small it might be.
People are extremely subject to normalcy bias.
And because of that bias, the majority tend to accept their situation in life.

The smoker just accepts that cancer, COPD, or the myriad of other linked effects will kill them.
The poor buy lottery tickets although basic math infers almost no chance in hell of winning.
The majority of the scant few who do win, lose it all within a few years because they never broke the bad habits that made them poor in the first place.

Therefore it is safe to suggest that you are preaching to the choir.
Those who frequent this site probably already have already begun developing sound saving habits.
Too bad so many failed to develop sound physical and mental health habits.
Therefore they will give away all their savings during the last year of their life. And in most cases, it will be a miserable year.

Oh well. The people have decided to stay in debt.
Corporations and governments have elected to stay in debt.
Debt is habit forming. There is nothing like instant gratification and an adoring electorate.
Consider the net positive effects of low interest bonds permitting stock buy-backs. Dividends rise and management gets a bonus.
What fool ever thought that pension plans would be fully funded?
How could anyone maintain full funding of a defined pension plan in an inflationary environment? It is mathematically impossible.
I am under no illusion that my Social Security is anything more than a transition payment. Here today, gone tomorrow.

We tend to forget, retirement is a new phenomenon. Until Roosevelt's social engineering stunt, it was unheard of for the vast majority.
We began working as children and didn't quit until death took us.
Soon the old ways will return for an extended period.

Those who saved their wealth by trading the currency of the day for PMs and wealth generating investments (farms and viable businesses) will be tomorrow's investors.
The rest will be exactly what they are now: slaves. The only difference between now and then will be that the people will know they are slaves.

I'll leave you with these:
According to my math, if all the gold were evenly distributed amongst all the people world-wide, each would have just over 1/2ozt.
As silver is consumed, annual output distributed evenly amounts to just over 1/8ozt per person.
So far this year, the US Mint at West Point has sold about 34 tonnes of gold coinage and almost 1500 tonnes of silver coinage.
From this, I think it is a fair assumption that some folks have decided they weren't going to be slaves.

After the coming economic reset, the majority of the 1% that so many hate will be among the slave class. The have current wealth only because asset values are inflated. Pop the asset bubble and all that is left is debt.
Never forget ... the vast majority of people are one trick ponies. They have one marketable skill that won't be in demand after the reset.
And even that one skill might not have been. A rising market makes everyone a financial genius.
So no assets, no skill sets, beaucoup debt, and no retirement. Uh-huh, this is gonna turn out just fine or not.

Who will be among the newly crowned 1% after the reset. What you do today will affect the rest of your life.
Yesterday is ashes.
Tomorrow wood.
Only today does the fire burn brightly.
(supposedly an old Ojibway Indian saying)

Commented 3829 days ago

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Beginning of the headline :I was on the reunion committee for my 50-year high school class reunion a few years back. As we tried to track down classmates, we discovered that many—including a few I had known quite well—had died from lung cancer. These folks would light up a cigarette, joke about cancer sticks, cough, and make fun of their addiction. They ignored their symptoms and the constant warnings from their families and doctors, and they suffered the ugly consequences. Former US Comptroller General David Walker app... Read More

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