Can Britain be Saved form Extinction?
QUESTION: Dear Martin, Merry Christmas to you, your family, and the Armstrong Economic team. All of you have worked tirelessly to help humanity. A question about the UK: you have [...]
The Public Pension Crisis is Our Undoing
QUESTION: Mr. Armstrong; Thank you for explaining the difference between a public employee pension and those we have in the real world. The fact that the bulk of these people never contributed to a pension was shocking. How is this going to be resolved?
GH
ANSWER: It will not end well. Government employees have the defined-benefit (DB) while we get the defined-contribution (DC) plans. Most state and local government employees, actually 87% of those working full time, participate in a defined benefit (DB) pension plan. They contribute NOTHING but are guaranteed a pension on top of what they earned, plus free healthcare for life. The vast majority of those in government have NEVER had to save anything. They are there now demanding that our futures be stripped. We are to be taxed until we die, and upon death, they want what is left.
This situation cannot end nicely. It is the same way that Rome collapsed. When the government could no longer afford to pay the army, it began sacking Roman cities that opposed their general. They turned inward and cannibalized their own cities, weakening the entire empire, thereby allowing the barbarians to come through the gates. We have followed the very same mistakes as Rome. This is just how empires always end. We are no different.
How can someone working for the government negotiate their own pension? This entire system is flawed and we are paying the price of civil unrest.
Latest Posts
Gold Clause & CBDC
QUESTION: Regarding CBDC, will they convert all the savings/cash in your bank account, will they convert everything in your brokerage accounts (all stocks etc.) will they go after gold and silver [...]
Diamond Dust to End Climate Change?
Stratospheric aerosol injection is the latest proposed method to save civilization from human-induced climate change. I jokingly say that the climate change agenda believes they can simply throw money at [...]
Who Creates Money?
To a large extent, there is still much confusion regarding the creation of MONEY. Some people still think the government actually creates money as if it were in ancient times. [...]
