Comments on: The Silent Entitlements Monster: Social Security, Medicare And Interest On The Debt Will Gobble Up Every Single Tax Dollar By 2020

By: Thomas Freed

Thomas Freed — Tue, 20 Mar 2012 02:53:46 +0000

Social Security is a tax program, not an entitlement, and thus the promise to pay any benefits at all can be terminated at any time by the politicians, who will do so because there will be no money to pay with. The promised benefits will simply be cancelled, thus “swindling” all of the foolish participants who actually believed in this fraudulent Ponzi pyramid scheme. They collected all the money, and now that it has all disappeared, they will cancel the promise to pay. So you don’t need to worry about the age going up to 70 or the payment amount going down, because there isn’t going to be any, and even if there is, the fiat paper they pay with will be nearly worthless. It would be better to admit reality and start buying silver coin now.

By: rodney rondeau

rodney rondeau — Fri, 16 Mar 2012 12:15:46 +0000

Unfortunately, getting rid of the programs will not solve the problem. The problem is the ration of workers to retirees is shrinking. It will be down to 2 to 1 if I’m not mistaken. This is NOT a monetary problem. If we cut all the seniors off social security and make them save their pennies or whatever it will not matter. There will still be two productive people producing sutff for every one unproductive person. The real question is do we have enough people and resources to care for our elderly.

By: Joel W

Joel W — Sat, 10 Apr 2010 16:27:05 +0000

Anybody with a decent brain and without a political agenda can accurately point fingers at what caused this mess. But a little finger pointing to the most proximal point, ourselves, collectively, as to how the hell we allowed ourselves to be marketed to, sold, bamboozled and brainwashed into thinking we really HAD TO HAVE all the material crap now made in China for ourselves. Why did we tolerate the “Blob” of huge corporate food operations blessed and protected by palm greased politicians to grow to the point where most healthy small operation farms were wiped out leaving the majority of Americans not even knowing where food comes from and what the hell’s inside the loud packaging designed to bamboozle you into buying the crap. Lotsa people going to be hungry pretty soon.

By: Mr Pike

Mr Pike — Thu, 08 Apr 2010 02:15:13 +0000

I would like to request an article by The Economic Collapse Blog about the recent events relating to the March 25th public hearing at the CFTC concerning the accusations made by Andrew McGuire and GATA about JP Morgan and HSBC suppressing the price of gold and silver, mainly silver at the request of the U.S. Government (Western Banking Cartel). The story is not being allowed in the American Media and it is a huge story because it is the biggest ponzi scheme fraud by far in dollar amount in history. It is a crime by our government and the people who control it and many people will suffer greatly in the future because of it.

By: CrisisMaven

CrisisMaven — Wed, 07 Apr 2010 15:32:53 +0000

Good of you to try and hammer it home. What I can’t understand is that these developments were foreseeable back in, say, the sixties – for anyone who knows how growth curves and exponential functions work, added in the general insecurity of projections (meaning you need to err on the safe side). It is understandable that politicians want to dole out money during their tenure as the aftereffects don’t concern them afterwards and they even have enough money to make their offspring rich enough to shield them from the fall-out of their policies. However, already academically trained civil servants who also have children that are not equally shielded and who don’t always become civil servants themselves, those civil servants should have raised the alarm “a hundred years ago” so to speak as they are affected in the long run and often hold their country dear to their heart. And they are the first to be affected by the likely sovereign default (see furloughs in California, and “we ain’t seen nothin’ yet!”) so holding back for fear of losing jobs or stifling careers is not a full explanation for that lethargy in my opinion.

By: Lunatic Fringe

Lunatic Fringe — Mon, 05 Apr 2010 16:08:42 +0000

From the edge, a brief explanation…

Anyway that’s the problem. USA debt has the same problem. At 100% debt to GDP, the Fed manufactures money out of debt. The problem is supply. When the world’s greatest economy starts to crater it takes the collective action of every nation in the world to prop us up. So far, Japan, China, and Great Britain have done so. If their economies continue to deteriorate, they won’t be able to. Japan and China are in a death dance with us. To save their existing treasury investments they must continue to invest in us or lose what is on deposit. The USA has an ungodly pipeline debt of 60 trillion coming due and payable in the form of Social Security and Medicare payments. California it seems, is a petri dish, a sneak preview of our coming collapse.

That’s why expressing debt to GDP is really a pretty antiquated way of seeing the problem, although that has been a universally accepted practice. Can we survive at 125% or 150% debt to GDP? Sure. As long as the Fed isn’t audited.

If that audit ever occurs, and TRUST ME IT NEVER WILL, the world will suffer a complete and total collapse. What we don’t know, it seems, isn’t hurting us yet.

By: Johnny

Johnny — Mon, 05 Apr 2010 13:22:36 +0000

I don’t know. Nature ALWAYS has a way of correcting these kind of imbalances. Think about it : If SS is going bankrupt and they have to cut benefits and increase the retirement age to 70, that means a less healthy senior population. Not enough to eat / more stress, etc. Furthermore, once Obarma’s health-care kicks in, there will be loooooooooooooooooooooooooooooooooooooooooong lines to see incompetent govt doctors (Think quacks). Once again, the health of the senior population will deteriorate. Pretty soon the average life-span will fall below the “official” retirement age of 70. Then see – the problem fixes itself. Of course, by then USA is as poor as any country in the world. Think Zimbabwe, Haiti, Bangladesh.

By: Man With All The Answers

Man With All The Answers — Fri, 02 Apr 2010 02:02:37 +0000

Karma will catch up with these guys. But there is alot worse things to come.

Expect a market pullback in APRIL / MAY and this could cause fireworks elsewhere.

By: sn

sn — Wed, 31 Mar 2010 05:01:50 +0000

That was some very interested information you just posted. The state of our economy has really began to interest me. I don’t want to be another idiot throwing a tirade based on illegitimate information. Is there anyway you could post some citations on the information written?

thanks
S~

By: jimmy

jimmy — Tue, 30 Mar 2010 06:47:52 +0000

I have a feeling the dollar will drop / inflate soon enough. It is a horrible thought. That guy from http://www.forecastfortomorrow.com agrees with me, and he has been spot on with everything that has happend…including called the market collapse of 2008

By: Operator223

Operator223 — Mon, 29 Mar 2010 22:55:35 +0000

Thanks to the utterly corrupt lying filthy thieving leeches that are out to only line their own pockets regardless of the cost.

By: drew hempel

drew hempel — Sun, 28 Mar 2010 22:29:39 +0000

If only the $60 billion a year military black budget was cut.

By: John Bach

John Bach — Sun, 28 Mar 2010 07:58:51 +0000

What kinds of jobs can the miltary mother do when we have been relocating often? Looking for something which can be finished to consequence income from home- not the fraud business. we do not have clever offered skills to chase people to buy things we dont privately belive in. Any ideas?

By: Grof

Grof — Sun, 28 Mar 2010 01:03:37 +0000

Hey Dr. G, what mass murder of Muslims? The same Muslims who murder more of their own than anyone else through suicide bombings and infighting in Pakistan, Afghanistan, Iraq, Yemen, Somalia and so on?

That’s karma indeed.

By: caryn verell

caryn verell — Sun, 28 Mar 2010 00:15:08 +0000

Pay off all of your personal debt NOW! and have a skill or talent for making or doing something that will be needed by someone else…like sewing, digging a garden, cutting timber, etc… you then have a bartering/bargaining chip to use as well as no debt.

By: RebeldownSouth

RebeldownSouth — Sat, 27 Mar 2010 18:22:57 +0000

Hoping-hoping-hoping the country splits apart into smaller republics and the South will rise again!

By: Dan

Dan — Sat, 27 Mar 2010 15:58:52 +0000

This piece is rather dismissive in this bland statement: “The truth is that it doesn’t matter how much the U.S. government cuts spending in other areas if it does not get entitlement spending and interest on the national debt under control.”

Only passing reference is made to ‘other areas’ such as the bloated military budget that outspends military expenditure by all other countries combined, national security apparatus and the trillions used to bail out Wall Street and the banks.

As for the government and Obama not facing up to the threat of ‘entitlements’ the first major step was just achieved.. the so called health care reform whose main purpose is to cut health care costs for the government (medicare) and US-based business. Other ‘entitlement’ programs are clearly in their sites, which includes SSC. A ‘bi-partison commission’ has already been created by Obama to look into ways to slash spending here.

In the mean time, continuing bailouts for banks and Wall Street and ever more expenditures for the military are absolutely guaranteed.

Its a matter of priorities, really, and the banks, Wall Street and big business are calling the shots using both parties and the Obama Administration as their tools.

By: Talnik

Talnik — Sat, 27 Mar 2010 12:34:02 +0000

Then the Russians and Chinese will be murdering Muslims, and they like them a whole lot less than the Yanks do.

By: Suetonious

Suetonious — Sat, 27 Mar 2010 09:15:49 +0000

How long has this been obvious? Certainly was obvious to me even in the 80′s. The demographics just weren’t there to support my generation. But I knew implicitly that we would be the ones stuck with the bill – with the scumbags in DC turning around, right about now, to tell us with feigned shock – “Gee, there’s no money for you guys! How did that happen?”

I could lay all the blame on these criminals, and most of it DOES lay with them. However, I have also directly and constantly experienced wilful obtuseness and ignorance on the part of Americans, with their fingers in their ears and their tongues flapping about with “LaLaLaLaLa” – every time anyone tries to point out the blatantly obvious regarding the financial End Game.

Americans are about to get what they have denied as impossible because it was not pleasant. Now there’s some real good thinkin’. Hope they get a clue in a hurry. Americans may be decent people – but that don’t count for much when it’s coupled with voluntary pig-ignorance.

By: Big Jon

Big Jon — Sat, 27 Mar 2010 07:39:08 +0000

Hey Dr. G—

Let America go down in favor of a Russian-Chinese led world and you will have your mouth taped, your religious freedoms stripped and your home taken away at will under that scenario. Since you used some Hindi, I am assuming you are Indian—let me ask you something genius? The closer that Russia and China get, the closer it pushed India and the US closer. China has scores to settle with India and Russians economic interests in China far outweigh the long term ‘relationship’ that Russia and India share.

Go chew on that geopolitical nugget and if you are so concerned about Muslims dying, why don’t you talk to the waring factions of Islam that kill eachother…is that part of your God’s plan as well?