"Skunked": Bill Gross On How "The U.S. Will Likely Default On Its Debt" | zero hedge: "by FreedomGuy
on Wed, 03/30/2011 - 21:09
#1119763
Nice point. It's all tax money. Also, the 'social contract' is no contract, or its a contract with no performance clauses. One of the prime reasons you never ever want government to provide any service is because you don't get a contract. In essence, the government unlike any private entity can change the deal at any time for any reason...at will. If you have an annuity or some other form of investment, you have a contract. It cannot be changed without your consent or without legal penalties. We are all suckers in Social Security. I don't blame the first generation or two as the U.S. and world were experimenting with socialism. However, for most all of my life we have know of the impending insolvency of SS. We know it is a true ponzi scheme, yet the only fix has been to raise taxes. It's still there, still insolvent, still has a ponzi structure, still untouched by politicians who only have the collosally stupid ideas of raising retirement age and maybe means testing or uncapping the tax. All stupid ideas from stupid politicians to an unsuspecting public.
Never ever let government do anything for you or the general population you can do for yourself...ever. You give up your own autonomy and you get a crappy product."
And then scroll up to read Bill Gross channel Pepe Le Pew...
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