State collapse is inevitable when a society’s leaders are insulated from the negative consequences of their bad decisions.
Mike Shelby
Back in the 90s, democrats floated the idea of raiding pension funds, now trump has made it legal to do so.
So did Obama.
This was always going to be in play at some point down the road. There’s a pile of money just sitting there, thus it will be irresistible to politicians to raid it for some reason. They will cook up the neccessary legalities, and the pretext for doing so, when the right opportunity (or crisis) presents itself.
Of course, there isn’t nearly as much in liquid funds as the paper figures suggest. All of that supposed “money” is already invested to the nth degree, and those investments would have to be unwound in order to make the value of all those accounts back into cash. Doing so with too much of it at once instantly tanks the market, as the sell side far outstrips the buy side. But I don’t doubt these sonsabitches have their economists and experts planning some work around for that constraint, too. Creating scams and criminal schemes out of whole cloth is the only thing they’re actually good at.
OK, couple of serious points:
AI will drive productivity, the downside is less current state jobs and a lower amount of future state jobs. – Young people better figure out how to get the right type of education.
Blackrock type investment firms own the companies and the investment vehicles that pensions and 401k’s invest in.
Well, they want to see some pissed off hombres, steal their money.
It’s open season on banks at that point. They all better be all ready.
And looky there. The governor of the great state of Texas selling us out. Absolutely no surprise there as he is in bed with the illegals and Indians and is a known WEF stooge.
Maybe state government should be worried too.
yeah. I have told people for years now that “stuff” is better than money in the bank. good tools are never a waste of money, Mom taught me that a very long time ago. and most of the tools I have bought , I still have and their value has grown by a lot. well, the money isn’t worth as much these days. one thing I should have done was to buy ammo by the skid load ! ammo has gone up like mad. gave my neighbor a box of 308 shells for deer hunting a year ago when he couldn’t find any,
I bought that box in 1992. yeah, 8.95 per box. 150 grain soft point ammo by Winchester. same box today is over 40 bucks ?
btw, ammo worked just fine- 8 point buck. seems the dust on the box didn’t hurt it any. and he still has 3/4 of the box left over.
and this is nothing new really. back in 67 or 68 congress raided the SSI accounts to get their hands on that money. like what was it 3 Trillion at that time. by rolling it into the general fund, they got to spend it on all of their little projects and then afterwards tell us that SSI is running dry ?
I remember this well as my parents where mad as hell over it. by any legal means they should have enjoyed their retirement instead of watching every penny because of those stealing bastards.
and it ALWAYS the same group stealing the money too.
guess who ?
as my Dad used to say,” it a wonder they not dragged into the street and hung from every light pole.” ‘but we too nice to do that’
one thing for sure, their thinking has not changed one bit.
and then they wonder why people loathe them ?
Stuffing cash under the mattress or in a home safe is about to become more popular. When the AI bubble goes pop there will be a lot of angry NPCs who didn’t pay attention and suddenly have no bank account.
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