AS early as 2002 on the listserv associated with this site, I talked about the dangers of unfunded pension liability. Sure everyone knows social security is pointless, but I was referring to private insurance, where the big bucks are, where the lifestyle, hopes and dreams are stored. Although a good part of these pensions are from "public service" like california teachers funds, they are not govt programs. People look at their private pensions and think, retirerment, travel, grandkids, all is good.
In 2008 I wrote a pretty good argument for this blog. I give a bit of history, and then the salient point for us:
The solution is savings and industry, but there is a war on both by government here in USA. The war in the middle east is fake, a distraction. The real war is right here in USA, a struggle to restore commerce and industry here. Happily the vast majority of soldiers in the middle east are eager to come home, as are the middle easterners eager to see them leave. Of course this struggle here is necessarily a nonviolent struggle, a matter of speaking truth to power, a matter of just starting a business, in spite of the challenges you'll experience if an when you do.
In this time and place in history there is nothing more effective in establishing peace and prosperity than starting a business.Mish Shedlock is covering this well.
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