Posted on 06/29/2012 9:04:00 AM PDT by Perseverando
—But Western Europeans...will see their states collapse before they accede to entitlement cutbacks.—
Exactly. The US has the same problem. We’re in this for the full ride to the bottom.
Yup, but before we fall they will grab out 401ks & institute some kind of VAT tax here in the States.
I’ll be cashing out my 401k in full and taking the penalty hit. I’m putting it in PM’s. I see huge tax increases (not to mention hyperinflation) in our future.
I want as little “taxable” income as possible.
I’m out of the stock market in full. I have some rental units I own for income. I figure once the demographics shift for good because of immigration in the next 10 years or so our new overlords are going to do some kind of VAT tax. That sucker will bring in billions of dollars.
—...some kind of VAT tax. That sucker will bring in billions of dollars.—
And since it doesn’t actually “create” dollars, I assume it means it will bring them in from “someplace else” which will be missing billions of dollars. And then there is the huge gray market it will create. Not to mention barter. ;-)
The VAT is a horrible tax, but it’s easy to hide. The public won’t see it. They will start it at 2 or 3 percent, and of course in time it will go up & up.
I'm still waiting for the collapse that was certain in the summer of 2010.
I think they'll still be 'kicking-the-can' down the road when I die.
And just who is going to riot, the “herronvolk’’ or the Saracens? Seems to me while the native born Germans might get pissed, what do the Saracens care if it all falls to pieces? It’ll be like the Islamist crapholes they fled only a little better standard of living.
2 years later and no financial armageddon yet...
If the FED gave us all free money think what our 401k’s would look like, but the bills will eventually come due so who is going to pay them?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.