[ExI] A world drowning in excess savings

[John Clark]

On Wed, Feb 19, 2020 at 9:42 AM spike jones via extropy-chat <
extropy-chat at lists.extropy.org> wrote:



>  > *Why that bad old Dave Ramsey. *


I'm not sure if I should be embarrassed by my ignorance or not but until
today I've never heard of Dave Ramsey, Google tells me the man has some
sort of radio show.


> *> My own grandfather predicted exactly the course of Social Security in
> 1974, using only a slide rule and an almanac.  He estimated inflation rates
> and increased life spans, and estimated that this whole Ponzi scheme would
> transition to a pay-as-you-go in about 2035, at which time those who rely
> on it for their retirement would be in for a rude awakening.  He was a
> smart man.*
>

What will happen to Social Security in 2035 depends critically on what the
GDP will be in 2035, if your grandfather could figure that out in 1974 with
nothing but a slide rule and an almanac then he was a very smart man
indeed!

John K Clark



>
>
>

> A wise course is to diversify one’s investments into other companies, in
> case one’s own fails.  Get into some international funds and even put a
> little into the oddball stuff like BitCoin, since that is currency not
> dependent on any particular government’s stability, and it is international.
>
>
>


> *Note that none of this discussion requires mention of a political party
> or any politician.  These are universal concepts that span time and party.*
>

Then why were the deficit hawks so loud 4 years ago and so quiet today?



>
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