The Political Voldemort: Welfare State Truths No One Wants to Name

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Chris Markowski spotlights German Chancellor Friedrich Merz’s bold admission that today’s welfare states are financially unsustainable—a political “Voldemort” most leaders refuse to name. From Europe’s demographic crisis to America’s entitlement time bomb, Chris argues it’s the conversation every politician avoids, but the one that matters most for the future.

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
The German Chancellor Friedrich Mers.

Speaker 3 (00:20):
He actually actually spoke of political Voldemort.

Speaker 2 (00:25):
Yeah, Voldemort, remember from Harry Potter.

Speaker 3 (00:27):
I never read the books, nonfiction stuff, but I did
see the movies with my kids, and I remember, remember
that you didn't even want to speak the name of Voldemort. Oh,
can't say the name be bad like you can kind
of channel them if you say the name Voldemort.

Speaker 2 (00:44):
Well, yep, we finally have.

Speaker 3 (00:46):
A politician here on planet Earth that is talking about
the welfare state and the need to reform it.

Speaker 1 (00:56):
Yeah.

Speaker 3 (00:58):
Yeah, he was at a Christian Democratic Union conference and
he said, and I wow, the welfare state that we
have today can no longer be financed with what we
produce in the economy.

Speaker 2 (01:15):
Thank you, thank you. I guess what, Oh it's just Germany. No,
it's here too, it's here too, It's in France, it's everywhere.

Speaker 3 (01:26):
You know. Not a single politician, not a single politician
out there outside here in the United States, the usual
ones that are actually honest, the Paul's and masses out
there will broach this political Baltimore, the fact that we
have built up welfare and entitlements that have become so,

(01:54):
lack of a better phrase, ginormous, and we have not
been able to grow our economies fast enough to pay
for them.

Speaker 2 (02:03):
Not to mention the demographic problems as well.

Speaker 3 (02:07):
And again one big, fat, huge see I told you
so a moment, because we've been talking about this for
over thirty years. And the funny thing is this doesn't
make any difference politicians on the left, you know, was
it politicians and a left, Politicians on the right, It
didn't make any difference. Populist what they're wherever they're located

(02:31):
out there, the Trumps of the world, the Marine La
Penn's out there, they don't want to talk about this.

Speaker 2 (02:36):
Trump recently, oh.

Speaker 3 (02:38):
Yes, celebrated Social Security and it's gonna be awesome.

Speaker 2 (02:42):
It's gonna be great. It's not gonna go away. I'm
gonna protect it. Uh huh. Again, they they don't want
to deal with it.

Speaker 3 (02:53):
Okay, he didn't get into how things need to be fixed,
but at least least he mentioned did. At least he
is talking about it again. Republicans are so cowardly last again,
last time, last time they tried doing this again.

Speaker 2 (03:11):
George W.

Speaker 3 (03:12):
Bush President didn't have the political will even and the
other types of reforms. Remember they had Democrats had Paul
Ryan pushing grandma off the cliff in a wheelchair.

Speaker 2 (03:25):
They don't want to deal with the problem.

Speaker 3 (03:27):
You want to obviously solve a problem, you have to
obviously first admit that there is one. Kudos to the
German Chancellor for his honesty watchdog on Wall Street dot
Com