Book Trailer The Noble Train

Thursday, June 30, 2011

Pensions are DOA

The world has changed. Look at Greece and London and America. The old days of doing a stint of thirty years and then retiring are gone. Pensions are DOA. The problem is that you now have millions of people with absolutely no safety net and that is sucking down the people with a pension. The people who have nothing because of our prolonged recession do not want to pay for anybody. They have nothing and have nothing to lose. The bottom line is there is simply not enough pie to go around anymore.

One group has taken more than their fair share and this has left millions holding the bag. You have to question the worker states set up under capitalism where people are plugged into jobs with the promise of gold at the end. This scenario worked for a long time as along as people were making money and there was still enough pie to divvy up. This is not the case any longer. One group is taking a good healthy twenty seven percent of the wealth pie and capitalism has simply run out of gas. With so many people displaced, the old promised gold is now under attack.

The protected groups are no longer protected and this world is ending quickly. There is simply too much economic devastation globally to fund the people who cut the deal way back when. The metaphor of people drowning and swamping those in the life boats is too easy too resist. But it is no less true. The pension lifeboats are being swamped by those with nothing. Conversely the governments have nothing to pay and they are letting everyone know now: you have been the victim of the biggest bait and switch in history.

There is no gold at the end.
Rocket Man will be out in July

Books by William Hazelgrove