Why am I not surprised?

As witnessed in the youtube video from the last posting, much of Europe has been (or soon will be) bankrupted by pensions. In fact, the United States is behind the curve in terms of unfunded pensions compared to Greece and Portugal.

 Not to worry about our sophisticated cousins though. They have come up with a great solution without having to reduce social spending ~ raid private savings accounts! Perfect! The concept of private property has always been a bit of a grey area in Europe anyway.

Hungary alone was able to stuff $14 billion (US) from individual retirement savings into the public coffers after threatening its citizens that if they didn't give up their savings they would not receive the Hungarian version of social security, even though they'd have to continue making payments on it. Sounds like blackmail to me.

Here in the US, our government would NEVER confiscate property from a citizen. And certainly, our government would NEVER raid any sort of private money account, right?

At least, not for a good reason, right?