When it happens here it will be sold as a benefit, a protection to workers to “guarantee” their pensions against the “casino of Wall Street”. And frankly, once it has happened in enough places, nobody will have enough confidence that ANY government will leave their private retirement accounts alone to bother investing in them in the first place.
And some people wonder why Americans don’t save. It’s quite obvious that there is a growing number of fellow Americans who have no compunction about taking private property by force, for the common good of course.
Will there be enough warning to be able to pull 401k $$$ out?
After long reflection I have come to the conclusion that government is simply large scale organized crime.
What’s sad is that this sets up all these people to rely even MORE on government when they’re old and cannot work. What a short-sighted decision. I see something similar happening here with individuals who have been out of work for months and even years and have to dip into their savings and retirement funds. They will likely never be able to make up what they have to take out.
It’s already been setup by Odumbo — Code Name “Inflation”
as Chile did in 1980