Apparently, someone in the US gummint finally admits that Medicare isn't going to pay out to everyone what they have all been told they should expect. (Really, its no different in the UK, but it is yet to be admitted that the State Pension will be worthless to you when you are finally receiving it.)
They pretend that this is new information, and "who could have known?". But that is a crock. People have been discussing this elephant in the room for years, and the mathematics of it were obvious to anyone that was interested enough in the subject to actually look at the facts (you would think this might include at least a few people in the gummint, right?).
The ugly truth is that the plan was to have constant inflation, eroding the real cost of paying out on those promises. What do you think "inflation targetting" is, if it isn't that plan in action?
The elite would benefit from this constant "benign" inflation, thereby ensuring they would benefit from the long term silent robbery of the masses, who would be like frogs slowly simmering in an inflationary pot. While your house was going up in price (note how I avoid the word "value" here), you didn't think inflation was a problem -- au contraire, you thought it was wonderful. But check out how it feels to get some unwelcome deflation right now. Right now you beg for the prospect of inflation to rescue you from the awful problem of constant debts and falling asset prices, and the very real concern that any one of us might lose our jobs because other people stopped buying our products and services.
And boy, are the gummints of this world pulling out the stops now to give you inflation, good and hard.
The bad news, is that I really don't see house prices getting rocket fuel under their prices any time soon. I see the prices of staples getting that high-octane fire under them, while houses and other discretionary items still just get licked by the flames. Bummer.
Wednesday, 13 May 2009
Medicare is bankrupt? Well, there's a news flash!
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