Peter1469
05-14-2015, 04:59 PM
The Baby Boomers will crash the economy (http://finance.yahoo.com/news/stan-druckenmiller-sees-massive-problem-130107781.html)(assuming the government doesn't do it first.)
The Ponzi scheme entitlement programs are not affordable. Too few young people working to pay for the many soon to be retirees benefits.
Billionaire investor Stan Druckenmiller said an aging population will present a “massive, massive problem” for the U.S. in 15 years.
Druckenmiller, 61, has argued for several years that the mushrooming costs of Social Security, Medicare and Medicaid will bankrupt the nation’s youth and eventually result in a crisis worse than the financial meltdown of 2008. The government will have to reduce payments to the elderly, he said at the event.
“We’re going to go from five workers of working age supporting every elderly person to two and a half because of demographics,” said Druckenmiller. “We’re just using more and more of society’s resources to fend for the old people.”
The Ponzi scheme entitlement programs are not affordable. Too few young people working to pay for the many soon to be retirees benefits.
Billionaire investor Stan Druckenmiller said an aging population will present a “massive, massive problem” for the U.S. in 15 years.
Druckenmiller, 61, has argued for several years that the mushrooming costs of Social Security, Medicare and Medicaid will bankrupt the nation’s youth and eventually result in a crisis worse than the financial meltdown of 2008. The government will have to reduce payments to the elderly, he said at the event.
“We’re going to go from five workers of working age supporting every elderly person to two and a half because of demographics,” said Druckenmiller. “We’re just using more and more of society’s resources to fend for the old people.”