Greenspan to Baby Boomers: EAT CAKE
Greenspan is either clinically insane or he is a pathological, sociopathic LIAR.
There is no other explanation for his delusional suggestion that America sacrifice its baby boomers at the alter of rapacious financial markets and corporate nation-plundering.
The US has "no problem financing its current account trade deficit" as long as the American economy remains "flexible," he said.
Translation: As long as you go with the program, you will not be HURT.
He warned against "drifting toward fiscal instability" and "RISING PROTECTIONISM, which would increase BARRIERS to the flow of goods and investments across the U.S. border . . . the adjustment process [he said] could be quite painful for the world economy..."
Translation: Resist, and you WILL pay a terrible price.
What are the DEMANDS?
"'[S]ignificant adjustments' in reducing benefits for future retirees. . . [I]t appears the country has promised more than it can afford to deliver in Social Security and especially Medicare payments, given that health care costs have been exploding."
First of all, you remorseless little parasite, our government would be able to meet ALL its obligations to its citizens as they become due but for your LUNATIC monetary policies over the last 18 years.
Second, the "exploding" costs of healthcare are due in large part to:
(1) the stupidity and corruption of a patent system that allows pharmaceutical companies to rape us on our death beds; and
(2) the insanity and corruption of a tax system that allows NONPROFIT hospitals to issue TAX-EXEMPT bonds, allowing entire swathes of interest income to go untaxed and enabling bondholders, literally, to bleed patients dry!
But, Greenspan is unpersuaded. Instead, he "urged Congress to act quickly so that the baby boomers will have time to adjust to potential benefit cuts."
How compassionate.
He insists that 78 million retiring baby boomers "will put severe strains on the country's finances and without changes could disrupt the economy by driving up interest rates from the increased government borrowing."
Uh, Alan, allow me to suggest the painfully obvious. WHY DON'T WE:
(1) STOP BORROWING and issue INTEREST-FREE bills?!!
(2) cancel ALL interest obligations; and
(3) start rebuilding America's physical economy so that we can prevent America from turning into a third world nation?!!
But NOOOO, the man's tongue remains forked and he speaks in riddles.
"The likelihood of growing deficits in the unified budget is of especially great concern because the deficits would drain a correspondingly growing volume of real resources from private capital formation and cast an ever-larger shadow over the growth of living standards,"
Translation: At the behest of moneylenders, the Fed WILL SUCK THE LIFE OUT OF Americans using INTEREST.
But, that is not how Greenspan sees it.
For him, INTEREST is a fact of life.
LIFE, on the other hand, can and MUST be subordinated to INTEREST.
According to him, baby boomers can wait until AFTER THEY DIE "to draw full Social Security benefits."
You selfish, myopic old weasel.
If you allow Americans to be destroyed, who will pay the INTEREST?
posted by qrswave @ Friday, December 02, 2005
14 Comments:
First of all, you have to think of the consumer driven economy as a cult, which it clearly is. If a cult is rich and powerful enough, and it's also under attack, there will be a strong tendancy to pack up and move to Guyana.
Responsibility is a bane of this cult. That belongs to the outside world. So does an accurate assessment of yourself. That is, you will be in a development stage only once. That's your youth. You will be in a state of full health and productivity when you are between 20 and 45. (Make that 55 if you're in high-volume sales.) The ages of 46 until 60 will be your declining years, a time when your services will be at their least demand unless you work in an intellectual properties-oriented field. 65 and beyond will be the time when your health fades rapidly. All you will have to rely on is what you did with your life.
I think that's a pretty fair assessment of the beings that we are. The cult is currently encouraging 12-year-old girls to change in the same room as the boys because they're not becoming sexually active early enough to be strong cash generators. In essence, that's the basic concept of the cult whether you're talking about blacks and hip hop culture or idols promoting a total self-absorption.
In short, castles in the sky aren't inhabitable by physical beings. They never will be. Yet they're the heart and soul of cults. Alan Greenspan is a David Koresh under fire by a BATF of tomorrow's reality. Go figure.
We should have a revolution in this country, old Russian 1917 style. Take these cocksuckers out of their homes and sort them out.
It seems the French formulated an expedient method of dealing with the kleptocracy during their revolution.
Why should we pay tax for our whole working lives to make to make the govt rich and they wont even support us in retirement.
I dont know what the old age support system is like in the US, but here in australia we already have to save our own money for retirement, get no pension and the money we do save is taxed at 15% when you put it, 15% on the interest and 15% when you take it out. So not only dont we cost the govt in pension payments but they get more tax off us. How fucked is that.
Eh, someone cut Spans head off and hang it on my fence.
The baby boom began after WWII. Some writers have it lasting as long as the year 1965. So if the first wave was born in 1946, they'd be 60 in 2006. Those able to willingly retire that young either have good pensions or were bought out.
In 2011, the first of the boomers will be 65. Because of their rate of consuming, many of them will have take on menial jobs to suppliment their lifestyle. As a note, it's hard not to see pension plans that are running a deficit not reel from this event, especially when you consider the skyrocketing costs of health care.
The writer from Australia also gives us much to think about. Oz has strict immigration laws. As a result, white people have to live with the decision that they made to have less children. It's self-defeating anyways because a lot of whites spoil their children to the point where they avoid mindless jobs. Taking care of seniors who can't take care of themselves is not only a repetitive and gross livelihood, it gives you a standard of living that doesn't have much more dignity than that of someone in the early stages of alzheimers. That can only mean that the immigration floodgates will be opened wide when the boomer retirement gets in high gear down under.
Thanks, everyone, for visiting and contributing your thoughts.
It's essential to get the ball rolling on this conversation.
Let the question of our nation's MONEY supply and INTEREST be the first thing on everyone's lips by this time next year.
To be sure, every human being has a God-given right to defend him or herself and family if attacked.
HOWEVER, to be clear, this site DOES NOT advocate AGRESSION.
My efforts are meant to head off violence, if possible, NOT trigger it.
VIOLENCE is their goal, NOT mine.
Once the FEDs start turning the screws on the money supply to "TIGHTEN" it, things are going to get pretty HARSH for the working class.
Our most potent weapon, that acts both as an effective offense and an effective defense is KNOWLEDGE.
Remember, they can only CONTROL our lives BECAUSE we TRUST them.
If we convince our friends and neighbors that we should trust each other instead, we will have already WON.
MONEY is nothing but TRUST.
Dr Greenspin, the Delphic Oracle of pseudo-economic wibble, is only stating what is obvious to anyone paying attention to the state of the economy these days:
Namely, that the phantasmagoric post industrial "services economy" is one giant (peach, James) hoax, and is now carreening towards early bankruptcy and political-economic chaos for those poor self deluded baby boomers who have danced themselves (and the rest of the planet) to the edge of the "end of history" cliff at the free trade and dereguation party.
The good Dr is only repeating what his more learned forebears in the great liberal tradition of banker-fascists have said - eat your austerity cake or get ready for Napolean/Hitler/Schwartzenegger.
In the end there MUST be a downturn. I don't understand why economists seem to think that consumption can increase every year. To do so is for the human race to commit suicide. The environment is already groaning under the burden we place on it and increasing that burden by 4 or 5% every year makes no sense. We need to move away from a consumerist society that wastes resources. But this goes against the principle reasoning of the govt and big business, which is increase profits/tax at all costs.
Greenspan's eleven interest rate reductions in an attempt to keep Bush's economic house of cards afloat long enough to get him elected in 2004 is coming to its inevitable conclusion.
Now he is backtracking and saying we have to reduce the deficit or face a "reduction" in future benefits to those of us who were talked into paying a higher percentage of FICA taxes so we would be able to fund the boomers' retirement. Basically folks you are on your own. Greenspan (and Bush of course) merely shows that the government cannot be trusted with your money.
Greenspan is a stereotypical jew.
Always lying, stealing and jewing.
These jew thief bankers should be hanged.
To the most recent Anonymous:
I DO NOT judge Greenspan, or anyone else for that matter, by their race, ethnicity, religious background, or even by their wealthy or lack thereof.
I care only about HURTFUL CONDUCT and the legal instruments that enable and reward that conduct; i.e., INTEREST and the Federal Reserve System.
Nothing more.
And so should you.
This site NEITHER advocates, NOR tolerates racial, ethnic, religious, or classist divisions.
All reasoned views are welcome, but please do not try to divide good people.
We are all HUMAN.
The goal is to abide by wholesome RULES that allow us ALL to live together in harmony without allowing some to exploit others.
From comment above: "The good Dr is only repeating what his more learned forebears in the great liberal tradition of banker-fascists have said - " WTF he be talking about? Liberal Greenspan? All G-span is, is a loony dangerous paranoid bit-player in the NEOCON plan.
Thanks for a great blog...I just wandered in from a comment you posted at AlterNet.
The #1 lie is that the government spends money.
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