Armstrong: The Unfolding Pension Crisis

Posted by Martin Armstrong - Armstrong Economics

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Pension-CrisisPart of the collapse in confidence we are experiencing with government stems directly from the fact that politicians engage in far more criminal behavior than anyone in the corporate world. While bankers may manipulate markets to trade against clients, politicians just lie to keep their jobs. The fact that they are incapable of managing the country, no less the economy, is coming to a head. The pension crisis we face emerges from all the promises of socialism. The crisis sprung from the fact that they don’t fund much of their promises and just assume there are enough schmucks to tax.

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