David Malone - Questions for the Near Future. 1

I just hope governments cotton onto MMT sometime soon then we might be able to stop this disaster.  Micheal Hudson says the 2008 crash was orchestrated by the bankers because they knew that would get bailed out and make a lot of money. Interests rates have been kept low to help boost the economy but pensions have not been making enough money. Well, the bankers don't care about people's pensions because they are too rich to be affected. 

We are told that in capitalism the profit motive gives people incentives to start up companies and expand the present ones, but it seems that the big money is made by asset stripping what took hundreds of years to build up in the West.    KV

David Malone 

What will you do when you are told that your company pension is bust? Or that the pension you thought you were going to get has to be cut to a fraction of what you were promised?

Will you expect your political leaders to put people in prison? Will they? Or will they have an enquiry and then say ‘lessons have been learned’ and ‘new safeguards have been put in place’, and will they appoint a Pension Commissioner/Tsar who will draw a large salary and in return hold meetings with the heads of the pension industry and agree a code of conduct and draw up rules for ‘better’ self regulation?

What will you do when you are told that because of a decade and more of ultra-low interest rates, the insurance company that holds your private pension is in very deep trouble and just cannot pay?

What will you do if you are told that you will have to bailout various insurers in order to save the pension industry?

What will you do when you are told that the state pension can’t afford to pay retirements any more? What will you do if you are told that to expect a pension is a form of entitlement neither you nor your children any longer have a right to?

Golem XIV

David Malone - Questions for the Near Future. 1