Ignoring the facts won't help us address the insolvency of pay-as-you-go social programs.
I was fortunate enough to be invited back on Max Keiser's Keiser Report for a wide-ranging discussion of Peak Retirement, currency wars and more. Since the topics Max raises are profound and not always that easy to summarize (if there is another media host who covers complex topics in such profusion and with such a diverse range of guests, he/she is unknown to me), I'm devoting the next few blog entries to offer context for the topics Max and I discussed.
Max's first question related to my entry on Peak Retirement [12] (October 15, 2013) in which I showed that the ratio of full-time workers to Social Security beneficiaries has dropped to 2-to-1.
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Study the definition of a Ponzi Scheme.Even a perfectly legit investment operation is right on the borderline.Almost every investment one makes these days is based on an all or nothing outcome.If anything has a 100% guarantee these days it has eluded me.A guaranteed 10% annual return would be all I ever wanted.
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