Reply To: Re: The IMF Proposes A 10% Supertax On All Eurozone Household Savings
October 23, 2013 at 4:15 am
#8901
Viscount St. Albans
Participant
@ Rapier, Very good point.
The US is moving slowly toward entitlement reform = cutting social security and siphoning off a dedicated fraction of middle class income toward a new tier of state-mandated retirement savings in the stock market.
Herein lies the great drama for democratically elected political leaders. They can’t build the political coalition for a new tier of mandatory retirement savings in the stock market without a financial crisis that frightens and disorients the masses. But that financial crisis will obliterate the willingness of dizzy people to let their hard earned savings be gambled away on here-today-gone-tomorrow stock prices. It’s a real conundrum. Better prepare the water cannon and rubber bullets.
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