09/25/2011
EVENT HORIZON! part two
So you tell me you don't buy my bullshit, that things are about to get better, just a little more spending, may be little more tax cuts and the things will be back on track again. And here I am trying to tell you that your life is about to change and it is not for the better, you don't want to believe me, all the media is showing how things are good, on Disney school kids are busy dating and going overseas, that is when they are not busy making musicals, no algebra, no geometry and absolutely no math required you post a few videos on youtube or make an ass of yourself on face book and you become rich and famous and live happily ever after, I could not be more wrong.
And I have showed you, for over ten years how your life has been screwed and how you are being screwed and you still do not want to listen to me because I have nothing good to tell you ever. So I will tell you nothing good again.
May be it will be easier to understand if you first understand what we have done to the elderly people in this country, once again I have explained this in places in this blog before.
You have heard the talk about how the social security is a ponzi scheme, how it is going broke, how much it is costing the country. First of all why don't they talk about how they have already stolen and spent the money in the social security trust fund and now have no way of paying it back, this money was used to finance the tax cuts for the rich over the past many years, as in when the tax revenues decreased, we took the money from social security to make up the short fall, we actually spent the money and did not even count it as deficit spending.
Social security was designed for the retirement of the elderly workers, over the decades since, the congress has added on other beneficiaries instead of supporting these thru a separate funding mechanism, so while they look good, the fund is going broke because their are more and more people drawing against it .
If that was not enough, the income of the fund has be devastated also by the lower interest rates. As I have explained that we needed lower interest rates so the government could borrow more and more , to say give the rich tax cuts and to finance the wars. The cost of the low interest rates has been devastating to the elderly because not only the social security is going broke but also because they are not getting any return on what they had saved for their retirement, now their houses are worth less, because of the housing bust, and may be some their life insurance policies (universal type) are lower in value if not out right lapsing (due to the low interest rates and the market declines).
Thirdly, the social security benefits have been cut in value because of the "adjustment" of the inflation index since Mr Reagan, you know and I know that the government is consistently underestimating the inflation rate, then when you compound the rate reduction over thirty some odd years you are really in the hole.
As we have added the medicare part, B, C, and even D, all requiring the participants to pay a premium to receive the benefits, the social security increases have not really kept up with the premium increases, and the recipients are going deeper in the hole due the medical costs. Their income actually becoming less and less each year after retirement.
All of this is nothing when compared to the ruinous effects of globalization and a service oriented economy on wages and thus the contributions to the social security trust fund.
LIFE IS A GAME OF CONNECT THE DOTS, IF YOU DON'T CONNECT ALL THE DOTS OR DON'T CONNECT THEM IN THE RIGHT ORDER YOU NEVER GET THE PICTURE
EVENT HORIZON! part two
So you tell me you don't buy my bullshit, that things are about to get better, just a little more spending, may be little more tax cuts and the things will be back on track again. And here I am trying to tell you that your life is about to change and it is not for the better, you don't want to believe me, all the media is showing how things are good, on Disney school kids are busy dating and going overseas, that is when they are not busy making musicals, no algebra, no geometry and absolutely no math required you post a few videos on youtube or make an ass of yourself on face book and you become rich and famous and live happily ever after, I could not be more wrong.
And I have showed you, for over ten years how your life has been screwed and how you are being screwed and you still do not want to listen to me because I have nothing good to tell you ever. So I will tell you nothing good again.
May be it will be easier to understand if you first understand what we have done to the elderly people in this country, once again I have explained this in places in this blog before.
You have heard the talk about how the social security is a ponzi scheme, how it is going broke, how much it is costing the country. First of all why don't they talk about how they have already stolen and spent the money in the social security trust fund and now have no way of paying it back, this money was used to finance the tax cuts for the rich over the past many years, as in when the tax revenues decreased, we took the money from social security to make up the short fall, we actually spent the money and did not even count it as deficit spending.
Social security was designed for the retirement of the elderly workers, over the decades since, the congress has added on other beneficiaries instead of supporting these thru a separate funding mechanism, so while they look good, the fund is going broke because their are more and more people drawing against it .
If that was not enough, the income of the fund has be devastated also by the lower interest rates. As I have explained that we needed lower interest rates so the government could borrow more and more , to say give the rich tax cuts and to finance the wars. The cost of the low interest rates has been devastating to the elderly because not only the social security is going broke but also because they are not getting any return on what they had saved for their retirement, now their houses are worth less, because of the housing bust, and may be some their life insurance policies (universal type) are lower in value if not out right lapsing (due to the low interest rates and the market declines).
Thirdly, the social security benefits have been cut in value because of the "adjustment" of the inflation index since Mr Reagan, you know and I know that the government is consistently underestimating the inflation rate, then when you compound the rate reduction over thirty some odd years you are really in the hole.
As we have added the medicare part, B, C, and even D, all requiring the participants to pay a premium to receive the benefits, the social security increases have not really kept up with the premium increases, and the recipients are going deeper in the hole due the medical costs. Their income actually becoming less and less each year after retirement.
All of this is nothing when compared to the ruinous effects of globalization and a service oriented economy on wages and thus the contributions to the social security trust fund.
LIFE IS A GAME OF CONNECT THE DOTS, IF YOU DON'T CONNECT ALL THE DOTS OR DON'T CONNECT THEM IN THE RIGHT ORDER YOU NEVER GET THE PICTURE
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