The pension crisis is a world event, probably even worse in Europe, because unlike the USA, European nations can not expand their money supply to cover unfunded expenses. With Germany, the ECB and Brussels controlling the euro, they have actually caused massive deflation, when their intent was to inflate the economy. Negative interest rates are deflationary contrary to popular belief. With negative interest rates, your bank has to pay the ECB to hold a required minimum reserve. Where the physical money supply is flowing out of the economy and back to the central bank. Does your bank pay for it? No, they charge a service fee every six months for your account and a service fee for every bank card you have associated with the account. It´s not a make or break you fee either, but take that fee and times it across all of Europe and it´s adds up.

There is a pension crisis in Europe. All my in laws are counting on their future retirement and how much they will get when they retire. None of them have a clue the Rajoy government has spent all of the reserves they paid into for their retirement. Next year the Spanish retirement reserves will be at zero. I was reading the other day even Germany is having pension crisis. That´s why they allowed an invasion into Europe. The eurocrats believe the new "immigrants" will work to cover the shortfall in pensions. This is a time bomb.

Look at the USA, same there. States like Illinois are totally bankrupt. All career politicians, republican and democrat , right and left will blame the "rich." Which is a code word for the middle class, and tax the hell out of them. This is a world event.

Civil Asset Forfeiture is a world event. However, the USA has gone full retard. From the Washington Post. Cops now steal more money from the people than criminals do. Can´t make this chit up!

All of this was created by the baby boomers who are probably the worse generation of all time. The hippies were all about free everything and the man has to pay! They have a communist mentality that they are trying to force on the world. At the same time they live like kings and queens, we are stupid, should just shut up and take it.

Martin Armstrong called 2017 the year of political hell. There are two more elections to go. Germany on Sept 24th 2017. Italy where it´s ambiguous, as to when it will be held, however it has to be over with by May 20th 2018. Who knows, Italy is drowning with the invasion crisis.

Martin Armstrong is also talking about 2018 as another year of turmoil where the euro could fall apart. Boots on the ground, I can see it. The taxes here are so high the government gets a good portion of profits. City tax, providence tax, state tax, Spanish government tax and hidden taxes to Brussels and Germany, which are hidden in your utility bills. Employers are forced to abuse their workers here in southern Europe. They will give you a six month contract for 20 hours, then expect you to work 40-50 hours. People do it because they do not have a job. It´s really not the employers fault, because it´s the only way they can make a profit and pay their bills. Europe has got to the point the government is eating all the profits leaving the producing companies with slim profits. Especially the mom and pop local businesses. They are closing where the multinational corps are moving in. This creates a deflationary cycle in the local economy too. The profits are not going to stay in the local economy.

Deflation is the theme in Europe at the moment, as is it in the USA. I am an American living in Europe. I have a vantage point for Europe and the USA.