“Already, the media drumbeat about ‘America’s retirement crisis’ — laying further groundwork for a mandatory savings plan — is becoming deafening. Into this void the academics and fund managers have stepped with what you might call ‘the Australian Solution.’ Fair warning: The politicians won’t be far behind. We won’t let our guard down on the 401(k) confiscation issue, but all the same, we find the Australian Solution comforting in its own awful way. Mandatory retirement savings are a terrible idea. But all else being equal, it’s a better idea than forcing you to convert some of your existing 401(k) account into U.S. Treasury debt.”
http://dailyreckoning.com/demography-is-destiny-hold-on-to-your-wallet/
