Mitch McConnell and John Boehner also support the 401K raids. It will happen next year under Obama or Romney.
We must fundamentally change America...BACK TO THE LAND OF THE FREE AND HOME OF THE BRAVE!
The American people have no one to blame but themselves. Especially the 50+ year olds. Our deficits were growing and no one wanted their entitlements gored. The Black Swan event that destroyed the US was 9/11 which set into motion the bankrupt wars that followed and the Fed Reserve tradition of bailing out Wall Street every time one of their schemes imploded. 2008 was the mother of all implosions with a huge derivative minefield still ready to explode if EU falls apart. Bankers basically told the Fed Gov that due to their failure to monitor Wall Street activity, larger and larger schemes were sold to the US and world system that if the US gov does not spend trillions in bailout and assume the toxic assets, the US financial system/economy will implode. Instead of taking the medicine of one severe reset and depression, the Fed Reserve and gov chose to bailout and QE till our debt is a threat to US power and survival. Congress has no choice but scavenge America for savings and assets to tax to close this desperate deficit or the US face collapse. The only way out for the US is taxes, austerity and inflating our debt away. If the middle class does not make proper preparations they will see any savings taxed and inflated by higher prices.
Study Brazil. After WW2 she had a growing middle class until she over borrowed in the 1960’s. It was thru taxes and money printing (inflation) that allowed her to eliminate her international debts. Today relatively debt free and resources rich Brazil is emerging again. The price of her ordeal, the absolute destruction of her middle class. The US middle class is facing the same fate.
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