A few weeks ago the Monk wrote about the way our 'economists' always assume that population growth, means growing economies and growing productivity and pointed out that this isn't necessarily true. Today I have watched a video on the MoneyWeek website. It is shocking, but, sadly, it is frighteningly accurate.
I commend to everyone reading this blog, take time out to watch and listen to this. The truth, as I've long suspected, is that the politicians and civil servants haven't the faintest idea of how to deal with this problem. They are trapped in a cage of their own making. They've set up a system of handouts and promises which are unfunded and based on only the desire to buy votes by promising more and more. They're all guilty of it - even the 'austerity coalition'.
It isn't only the costs of pensions, welfare benefit and the NHS, the biggest burden is the cost of the huge bureaucracy they've created alongside their "welfare" promises. If this video is right, things can only get a whole lot worse. Whitehall has no reserves, they've never invested a penny to pay for anything they've promised, and the MPs and Civil Servants are the only people who have made sure their positions, incomes and pensions are protected.
Do take the time to listen to this - then I suggest think about how you can protect yourself.
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