City Journal Autumn 2014

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Autumn 2014
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Nicole Gelinas
Dealing with Failure « Back to Story

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Sure happy I live central Mexico!

ret expat MD
Our culture is a ponzi scheme.
How can a bunch of politicians with a straight face allow new workers to shoulder the burden of the necessary fiscal restructuring (401k pensions etc.) while older workers - ie: boomers - ie: the ones who created the problems - get off the hook?Time for total and across the board restructuring of our society, otherwise revolution will happen.
How about politicians on 401k pensions ? Is that unreasonable ?
It never fails to bother me how pundits flout such stupidity with no consequences for themselves.
USA is a ponzi scheme, it's best days are in the past.
Future Americans please note: your parents sold you out so they could live a lifestyle they did not earn. Wake up and insist that they shoulder the burden themselves!
Is there a single dim light at the end of the tunnel? Unrealitic union wages, benefits and short-term retirments are a lose- lose-lose economic matrix. Like a python; slow strangulation will get you every time. Just takes time.
No pensions for new employees. Forced savings plan of 17.5% of income. No tax deduction. Self managed investments. Purchase what you like from solid enterprises, no purchase of public debt.

No Social Security.