Gary (piglet sodomizer) North continues writing about debt and retirement. The whole article can be found here:
http://www.lewrockwell.com/north/north529.html
Here is an extract that I particularly liked:
There is no tooth fairy. There is no retirement fairy. There will be no streams of income for the vast majority of old Americans. There will probably be monthly checks. They will not buy much.
The rational basis of high expectations of future income can be only two things: (1) ownership of capital or (2) theft from people who own capital. Voters accepted theft as a legitimate source of retirement income in 1935 and 1965. As their faith in the productivity of theft increased, their faith in capital investment as the source of retirement wealth waned. In 2005, the tipping point occurred. Americans finally accepted emotionally the worldview of the drunkards in the days of the prophet Isaiah.
Come ye, say they, I will fetch wine, and we will fill ourselves with strong drink; and to morrow shall be as this day, and much more abundant (Isaiah 56:12).
Americans will wake up with a gigantic hangover in their golden years.
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