Itís Your Money > Social Security and Pensions

40% cut in Social security...

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Metz:
The Greek economy is in free-fall and likely to set the record for the most severe depression in a modern country so far this Century.

Our collective problem is that the Greek experience will soon seem commonplace.  Almost all of the nations in the West are headed towards a Greek style bankruptcy given current trends.  The US deficit alone is running at over a trillion a year with NO end in sight.  So, eventual bankruptcy of the US and most of the EU isnít a question of what is right or just or what could happen in a perfect world.  Itís what is likely to happen.

Given this, the question you should be asking yourself is:  What would happen if the US and the EU cut their budgets as deeply as Greece?  What if there was an across the board budget cut of 40%?

http://www.resilientcommunities.com/a-40-cut-in-social-security/

BingColin:

--- Quote from: Metz on May 05, 2013, 05:29:13 PM ---The Greek economy is in free-fall and likely to set the record for the most severe depression in a modern country so far this Century.

Our collective problem is that the Greek experience will soon seem commonplace.  Almost all of the nations in the West are headed towards a Greek style bankruptcy given current trends.  The US deficit alone is running at over a trillion a year with NO end in sight.  So, eventual bankruptcy of the US and most of the EU isnít a question of what is right or just or what could happen in a perfect world.  Itís what is likely to happen.

Given this, the question you should be asking yourself is:  What would happen if the US and the EU cut their budgets as deeply as Greece?  What if there was an across the board budget cut of 40%?

http://www.resilientcommunities.com/a-40-cut-in-social-security/

--- End quote ---


That report is over a year old ???

by John Robb on February 17, 2012

Metz:
and Cyprus stole from every-bodies bank accounts, Spain and Italy are saying the same. the LIBOR scandal broke.  Now the son of LIBOR is breaking.  The USGOV announced it will inflate the USD at the rate of a trillion USD per year, Japan announced infinite money printing, Australia and China are now trading directly without going thru the USD, The decoupling of the paper vs physical gold prices...

The point being, is how you have your life arranged will determine how you live not if but when the USD/Euro finally goes away.  Will you have your lights on or sweating in the dark, hungry and thirsty?

Art, just a re(tired) Fil-Am:
This topic is beginning to sound like an anti-government Communist lecture hall type forum!
Do we really need to hear all of these "what if" type of doomsday scenarios on here, because it's all just speculation up to a certain point until it actually happens? Besides, this topic has nothing to do with the Philippines and it's disruptive of what this forum is all about, the Philippines and not the sky or governments everywhere are falling of failing!
Anyway, everyone who has a TV or PC can read or listen all about this type of news in the privacy of their own home, rant and rave and not have to read all of the "what if" doomsday scenarios on here that no one has any control over except for each and every perspective government around the world who is in an economic turmoil!
They all will have to do what is necessary to remedy their perspective problems the best way they know how!
It's just unfortunate that alot of people did not plan for their future and or retirement at an early age and are now regretting that they didn't do it sooner!     

Metz:
Not a rant or lecture.  Would you like footnotes?

Denial is the first part of the grief process.

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