Debt Rattle Feb 10 2014: A Tear For The First World
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Dorothea Lange “Georgia road sign” July 1937 Looking out over the European landscape, metaphorically speaking, the more I read up on things that are d
[See the full post at: Debt Rattle Feb 10 2014: A Tear For The First World]“China will combine its urban and rural pension insurance systems to promote social mobility without concerns of loss of retirement income. A unified pension system will help consumption…”
There’s that word again, “consumption”. Governments devising programs to increase consumption. “Oh, look, you have a pension plan now, so don’t bother ‘saving’ your money, just consume, consume, consume. Don’t worry, we’ll look after that pension program.” Yeah, right, where have we heard that before?
Governments should stay the hell out of pension programs. The reason they don’t is because they work for large corporations who, if people actually saved for their own retirement, would profit less because people would consume less/save more. How would they get their precious “inflation” if people slowed down? If I’m lulled into relying on a pension system (a Ponzi system), then I might save less and consume more. Of course, in the end when there’s no money in the pot, I’ll be criticized for spending too much money and not saving enough.
And China wants to end its one-child policy. With over a billion people, why would they want to do that? Well, so they can provide younger people to keep the Ponzi machine running, keep people consuming and consuming, and they’ll worry about the falling apart problem later on.
People made a mistake when they allowed Wall Street/pension funds/governments to get involved in their retirement. These people don’t care about us in the long-term. They think about their short-term profits.
When you shake hands with the devil…..
I’m not sure where ZH got their historical Jan jobs numbers. My go to guy is Lee Adler and he says Jan 14
“The issue is how the current decline compares with the norms of the past. By that standard, January was an average month. The decline was smaller than in 5 of the past 10 years and larger in 5. It was virtually the same as last year’s January decline of 2.86 million. And it was almost identical to the 10 year average. ”
https://wallstreetexaminer.com/2014/02/07/nonfarm-payrolls-misleading-headline/
More here
The basic story is bad but that chart of past January’s is not right.
Just read Time magazine waiting at the Dr office and Yellen says she predicts the economy to really pick up in 2014. Where do they get this stuff….I guess they have to..,otherwise they have panic…Ted
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