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Saturday, March 18, 2017

Are Collapsing Pensions "About To Bring Hell To America"?

The toxic dollar is bringing hell in a handbasket.

Along with the student loan debt bubble and other major financial factors, the looming pensions crisis is bound to be the death of us all.

Because it’s based on a future promise to pay, it has long been a benefit dangled to solve strikes and union disputes – because, in the end, it is just more debt, whether private or public.

With tens of trillions in unfunded liabilities, the weight of an avalanche remains dangling over our heads. An aging population is cashing in on needed retirement benefits while the younger generations must support multiples that are unsustainable financially.

Somewhere between the retiree that needs clothing, food and lodging, and the bankruptcy of cities and state governments is the makings of the next economic crisis.

via AgainstCronyCapitalism.org:

This is one of those things that few will pay attention to until it’s a 5 alarm fire. Then the policymakers will run around with their hands in the air saying they didn’t see it coming.

Of course they did. But addressing the problem is hard and will make people unhappy in the short term.

This blog pointed out the sad, and quiet fact that entities like the government of South Carolina are deep in debt over pensions. Everywhere there are failing social systems.

And somewhere, the rubber is going to met the road, and people are going to get hurt.

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7 comments:

Anonymous said...

Democrats giving away tax payer money is coming home to roost.

Anonymous said...

You mean like the Sherriff's new bargain?

Anonymous said...

Where are the Unions and thousands of MD State Employees / Retirees? MD Retirees will be in the same boat if the Unions and workers don't force the Governor and Legislature from robbing their retirement fund and force them to pay back what they stole already to balance the budget ASAP.

Anonymous said...

The whole Dumbocrat utopian dream is collapsing right before our eyes

Anonymous said...

nobody to blame but your ELECTED Democrat KEEP electing them

Anonymous said...

We the People should be ashamed for allowing the government to tell us they were "borrowing" from a pension fund or a trust fund.

One may not borrow from these funds.

One may only steal from these funds.

Anonymous said...

Get ready for the commercial property loan defaults it is going to be bad.