by Markor » Tue Jul 22, 2008 6:07 pm
I haven't looked at the videos, so don't know how "out there" they are. However, I was already convinced that the little guy will be intentionally screwed by those who control the economy's rudder, even if the rudder doesn't work so well. It may come down to an overnight bank asset freeze and currency devaluation, a la Argentina. That's why I was originally on the fence about selling my house. If cash is devalued by half, say, house prices should double, less some percentage due to potential buyers being suddenly poorer.
More likely the solution to prevent the country's dissolution will be a combination of things, including no new social security recipients except for the hardest luck cases (but you'll still pay SSN taxes), higher age limits for withdrawing 401K money and higher penalties for early withdrawal (both to keep people working until they die, which is why I no longer contribute), opening the floodgates to immigration, higher personal & capital gains taxes, high inflation, etc. The only question remaining for my planning is whether other countries will be hit hard enough that it isn't worth escaping the sinking boat. I suspect yes.