“Already, the media drumbeat about ‘America’s retirement crisis’ — laying further groundwork for a mandatory savings plan — is becoming deafening. Into this void the academics and fund managers have stepped with what you might call ‘the Australian Solution.’ Fair warning: The politicians won’t be far behind. We won’t let our guard down on the 401(k) confiscation issue, but all the same, we find the Australian Solution comforting in its own awful way. Mandatory retirement savings are a terrible idea. But all else being equal, it’s a better idea than forcing you to convert some of your existing 401(k) account into U.S. Treasury debt.”
http://dailyreckoning.com/demography-is-destiny-hold-on-to-your-wallet/
Related posts:
Catalan politicians ask for EU help against Spanish army
California Good Samaritan Drug Overdose Bill Signed Into Law
With Italy's Election, the EU Chasm Grows
Deputies Caught Dumping Name Tags
Non-Muslims Carried Out More than 90% of All Terrorist Attacks on U.S. Soil
Insider Speaks About Booz Allen, The Employer of Edward Snowden
UN Drug Bureaucrats Fret About Uruguay's Marijuana Legalization
Upturn Millionaires: How to Play the Turning Tides in Precious Metals
Someone built a meth lab inside a federal research facility, and it exploded
ISIS Is Internet Savvy
Canada's Last Bitcoin-Friendly Bank Closes Accounts Nationwide
Federal Bank VP: Bitcoin Threat Means Banks Must ‘Adapt or Die’
Maybe This Is Why We Now Have a Serial-Bubble Economy
Putin warns Ukraine against EU free trade pact
Facebook Monitors Private Messages and Photos, Reports to Police