Despite what Bernie Sanders, Alexandra Ocsario-Cortez, and numerous other Socialist politicians say, the end of Socialism is near.
And (like all other lies) the end of empty promises bearing the Socialist banner will indeed, be ugly and hard to accept.
It’s been in self-destruct mode for a long time and is becoming obvious by the global debt crisis we face…specifically the Pension Crisis.
We’ve written about it before (HERE, HERE, and HERE).
The Pension Crisis is a serious problem and will become more obvious in 2019. This is not a prophecy of gloom and doom. It’s a reflection of Government’s inability to manage a crisis.
Instead, they always come up with solutions that make the problems they’re trying to solve even worse.
Example: Promises made to win votes were NEVER sustainable. Governments established pensions needing an 8% annual rate of return in order to pay the participants.
Then, when a crisis comes along, the Central Banks jump in and mess things up even more. Instead of helping the economy they lower rates* and HOPE that the banks will pass it along. (*Note: interest rates are at the lowest in over 5,000 years. You read that right…5,000 years)
The banks simply parked the money at the Excess Federal Reserve Window which did not help the economy but did wonders for their balance sheets.
The cost of managing these pensions is stifling and the only solution they can come up with is to raise taxes to pay for their (govt) pensions.
This will only lead to further economic decline and is a dagger in the heart of Socialism.
Don’t think for a moment that you’re immune to this because you don’t have a government pension.
The chickens are coming home to roost in 2019.
Learn how to protect yourself from the inevitable destruction of Socialism (HERE).
You’ll thank us later.