Over these past twenty-four years as an on-air commentator, I have revisited variations of this theme on numerous occasions – and today we are going to revist the following post from January 21, 2011. That, which you are about to read, is amongst the most detailed of all those shared. As for , “There’s no-place like home.“, soon, you may not have one. ~ Jeffrey Bennett, Editor.

“The great Oz has spoken! Pay no attention to that man behind the curtain! I am the great and powerful Wizard of Oz!”

January 21, 2011 ~ In refreshing contrast to the impenetrable writings of economists, the classic fairytale, The Wizard of Oz has delighted young and old for over a century. It was first published by L. Frank Baum as The Wonderful Wizard of Oz in 1900. In 1939, it was made into a hit Hollywood movie starring Judy Garland, and later it was made into the popular stage play The Wiz. Few of the millions who have enjoyed this charming tale have suspected that its imagery was drawn from that most obscure and tedious of subjects, banking and finance. Fewer still have suspected that the real-life folk heroes who inspired its plot may have had the answer to the financial crisis facing the country today! Continue reading →

The newly released Social Security Trustees Report describes serious fiscal issues with the program and stresses that it should be reformed soon, or the situation will become much worse. However, public support for reform is impeded by a common fiction that inflames debate and distracts from the roots of the problem.

What the Report Says
The June 2018 Social Security Trustees Report states that “under the Trustees’ intermediate assumptions,” the program’s “total cost is projected to exceed its total income in 2018,” and trust fund reserves” will be “depleted in 2034.” Continue reading →