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The pension crisis
03-01-2017, 12:13 PM
Post: #1
The pension crisis
https://www.armstrongeconomics.com/world...-bankrupt/

The Pension Crisis on the horizon is far worse than anyone can imagine. This is the final straw that will break the back of socialism the same as communism fell. Pensions are in a state of crisis for they lost money in stock in the 2007-2009 crash and then sold the bottom shifting to government bonds and then interest rates plummeted when they needed 8% to survive. The management skills have been nonexistent for the propaganda has always been that government bonds present no risk when in fact they are UNSECURED DEBT and the riskiest of all investments long-term.
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03-16-2017, 01:13 AM
Post: #2
RE: The pension crisis
http://www.shtfplan.com/emergency-prepar...a_03152017
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03-16-2017, 06:07 AM
Post: #3
RE: The pension crisis
Many state retirement funds are "beyond broke" especially when forecasting future demands.

Here in Maine the Maine PERS retirement "investment fund" only returned about 1% last year. This in a year when the stock market is soaring to new heights. This will NOT sustain it enough to meet future demands. Back in the 2008 "crisis" retirees......and the pension system management....were expecting that the taxpayers of Maine would kick in millions of $$$$ annually.....in order to keep it solvent if the SHTF!

Will be a cold day in hell before that happens I bet.

California is in dire straits, along with NY and many other "ultra liberal" governments.

It will be VERY interesting to see how this plays out in the future.

I am glad that I am NOT dependant upon one of these pension monstrosities!

WC
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03-16-2017, 06:48 AM
Post: #4
RE: The pension crisis
Promises made to people by people who only wanted their vote, a great formula for success. Not to worry the SEIU leaders will pick up the slack because they really, really care about their dues paying members.
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