Kerry Lutz, Financial Survival Network, Released on 3/28/16
John Rubino recently wrote about the impending crisis in Europe, there’s just not enough new workers to help pay for the retirees getting ready to enter the system. It seems that they adopted a pay as you go system that never even pretended to set aside reserves for future retirees. Now, people are living longer and there’s not enough new workers to pay the retired workers’ tab. This leaves governments few choices to fund this growing burden. Immigration isn’t working too well and this leaves the tried and true method of inflating away debts. But there’s always a cost!
John Rubino is the founder and manager of the popular financial website DollarCollapse.com. Mr. Rubino is the co-author, with GoldMoney’s James Turk, of The Money Bubble and The Collapse of the Dollar and How to Profit from It. He spent the 1980’s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990’s he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He currently writes for CFA Magazine.