Multi-Billionaire, former Soros strategist (and High School friend) Stanley Druckenmiller is talking to the press about the serious problem he thinks we are missing. While most of us are suffering anxiety from the combined federal debt at $16 Trillion plus and the parade of horrible hysterics
the spenders muster
when the Republicans even try to slow the growth of spending in a very modest way, Stan says the real problem is the unfunded liabilities of Medicare and Social Security, etc. the total of which he puts at $211 Trillion.
That is a lot more than $16 Trillion.
Even though I still know absolutely nothing about economics, I'm declaring that I'm with the Austrian School, all the way.
Good to see Stan, if not finding his voice, at least broadcasting it on an issue he has the expertise to see more broadly and clearly than us multi-hundred thousandaires can.
Keep it up, bud.
Labels: Stan Druckenmiller; Unfunded Liabilities; Coming Fiscal Storm