Saturday, March 07, 2009

Retirement plans of millions of Britons at risk after Bank of England 'prints money'

So, you thought you had a pension? Think again.

After 12 years of theft and economic destruction, Gordon Brown has destroyed most pensions in the private sector, the engine of wealth generation.

In the next decade or two, he plans that the only people who will receive worthwhile pensions will be the members of his client state.

What few in the public sector have factored into their own retirement plans, however, with their 'guaranteed' index-linked final salary pensions, are the following points:

1). When you destroy the private sector's motivations and ability to generate wealth, you kill off the goose that laid the golden egg

2). State sector pensions can only be paid for through taxes or inflation

3). Private sector people will simply stop working if taxes go to the levels mathematically necessary to pay off the state drones, therefore there will be no state drone pension payments

4). If inflation is used, with the index-linked element massaged downwards to mask it, the state drone pensions will be worthless anyway

5). If most of the tax that people are forced to pay is used to fund state drone pensions, then people will simply refuse to pay these taxes, for which they will be getting very little in return, except the satisfaction of seeing state drones pick up weekly groceries cheques

However it pans out, state drones ought to stop being so smug. Because Gordon Brown has imperilled their pensions too, as much as he has imperilled the pensions of everyone else. They should therefore join us in getting rid of this tyrant.


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