Friday, March 1, 2013

Stanley Druckenmiller warns of doom unless something is done about tranfer payments

This morning on Bloomberg T.V saw charming Stefanie Ruhle(quite the pistol you know) interview legendary investor Stanley Druckenmiller.He said,quite few stirring things,like transfer payment(entitlements)are killing our society.Today more then 65 percent of government outlays are transfer payments in 1960 it was less then 30 percent.Increase wasn't due to demographics but rather the old folk political clout because there vote and says watch for the demographics would kick as baby boomers retire.
There is a lot of truth here,Japan and China's big economy problems are aging population.The one child policy of China just might death of middle kingdom.This why imagination just may save America,for need new workers to pay for the entitlement society and save us for aging population.Now I do believe English should be made official language of United States,however,in return let us have compassion view on illegal immigrants,for we need despite demagogy of right-wing talk radio people like Rush Limbaugh and Mark Levin

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