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FSN: ‘No Doubt, Pensions Are Screwed’
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
from The Daily Bell
In a SPIEGEL interview, Harvard economist Carmen Reinhart argues governments are incapable of reducing their debts and that central banks are now stepping up to resolve the crisis themselves. In the end, she argues, everyday savers will pay the price. Reinhart: No central bank will admit it is keeping rates low to help governments out of their debt crises. But in fact they are bending over backwards to help governments to finance their deficits. This is nothing new in history. After World War II, there was a long phase in which central banks were subservient to governments. It has only been since the 1970s that they have become politically more independent. The pendulum seems to be swinging back as a result of the financial crisis. – Der Spiegel
Dominant Social Theme: Thank goodness for central banking.
Free-Market Analysis: Der Spiegel interviews Harvard economist Carmen Reinhart who has the novel idea that central banks are acting like the “adults” in the room by cleaning up after spendthrift governments.
“Governments are incapable of reducing their debts and now central banks are stepping in.”
Continue Reading at TheDailyBell.com…
2013-04-17 17:01:34
Source: http://silveristhenew.com/2013/04/17/no-doubt-pensions-are-screwed/
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