Posts Tagged ‘private retirement accounts’

Here is an article about the US that toward the end makes mention that Spain is forcing private retirement accounts to purchase government debt.

“And that is if the government itself does not confiscate pensions and retirement savings and demand that they be put into soon-to-be-worthless government debt. Far fetched? Spain’s secretary of state for social security, Octavio Granada, was recently quoted as saying that by the end of 2010 some 90% of all Spanish pension savings will be “invested” in domestic government debt. Spain isn’t some 3rd world banana republic and they are already moving strongly in this direction. With trillion dollar deficits as far as the eye can see, where else can the US Government hope to get the money to fund all their debt?”

As he stated, Spain is not a third world country, this was also done in Argentina but that was written off as being a developing nation struggling with hyperinflation.  Spain is like us, just smaller and a few steps ahead.

There are a lot of other good points in this article, I just wanted to bring your attention to what Spain has done, based on what I posted earlier.

Administration’s Secret Plan to Hijack Your 401(k)s and IRAs

Look out we are headed for a collapse.


A Generational Perfect Storm – Boomerang Kids Meet the Homeless Baby Boomers

When times are good, or at least relatively good, unsustainable trends can appear sustainable. The now-aging baby boomers who had a lot of their wealth tied up in their home and the stock market were feeling great. They had just come off of a 20 year super-bull market in equities and up until 2007 they were seeing the value of their home increase by leaps and bounds every year.

Sure, their kids were scraping by on credit card and student loan debt. But there were jobs to be found and even if they couldn’t scrape by they could always count on some help, and even housing, from Mom and Pop.


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