By: Gary_North


I have just posted a video of my 90-minute seminar: "Retirement Armageddon." It presents the background for a series of nasty surprises.

For those of you who don't have time to watch a 90-minute video, let me summarize its implications.



The U.S. government has a nasty surprise for tens of millions of retirees: a now-empty piggy bank. Two of them, actually: Social Security and Medicare.

Congress will soon have a nasty surprise for voters: a larger deficit than announced to fill these now-empty piggy banks.

The Federal Reserve System will also have a nasty surprise for investors: newly created digital money to fill up the empty piggy banks when the Treasury cannot sell any more debt at low interest rates.

The free market will have a nasty surprise for everyone: rising prices in response to the Federal Reserve's digital money.

Medicare will have a nasty surprise for physicians who treat Medicare-funded patients: limits on payments per service that are set below urban costs (price controls).

Physicians will have a nasty surprise to patients: longer waiting periods (rationing by sitting in an office). The days of wine and roses are over. The era of nasty surprises has begun.

Social Security will go bankrupt in 2010. It will take new legislation increasing Social Security (FICA) taxes to overcome this. Or it will take siphoned-off money from the general fund. I have covered this issue here.

WHY A VIDEO?

A non-profit research organization brought me in to present a seminar for people who prefer a seminar to reading on-line. Then it produced a DVD of the seminar for its donors. It released the DVD in January.

I persuaded the organization to let me make the seminar available to my readers. Because of the technology of on-line video hosting, this is easy to do.

My targeted audience includes these groups:

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