Now imagine what happens when the retirement system fails for 50, 60, 70 or more percent of the population. They are going to be very jealous of your rent houses, 401K balances, etc… How dare those “rich people” have all this stuff! They will demand that something be done, and TPTB will be more than happy to help them — by relieving you of your goodies, of course… They will use sneaky methods, like property tax increases (Prop 13 will not be popular once few are able to afford homes), raising the age at which you can withdraw from your 401K, devaluing the currency, etc… They have a large bag of tricks.

If you want to see the future of the US, just visit Brazil. Huge underclass, small middle class, and a tiny elite that manages the whole affair from their helicopters, private jets, and island getaways.

At least here in SD we will still have good weather!