from Armstrong Economics:
The pension crisis is beginning to emerge as a real growing problem. The central banks have been keeping interest rates low for the primary reason of reducing the national debts. In Germany, they are beginning to notice that not merely are government pensions growing faster than private as public servants help themselves to our income by threat of criminal prosecution for failure to pay whatever taxes they demand, but in Germany the pension funds in the private sector are headed into massive insolvency. Even the press is now reporting that private pensions cannot meet obligations because of the Euro Crisis where interest rates are kept artificially low to help Southern Europe meet obligations.
This is also why the Fed must end the tapering. They know if interest rates are not allowed to rise, the pension crisis will explode next. This is not about bailing out the banks or even the economy and jobs. The next great crisis is Pensions and Sovereign Debt and historically, the solution that government ALWAYS adopts is none other than forced loans.
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