Labor

Submitted by Thad Beversdorf via FirstRebuttal.com,

I happened to be going through the Red Cross audited financials this morning (this is not typical morning reading for me but I’m doing some due diligence on another matter).  Under the Notes to Financials I came across the organization’s pension assets breakdown and what I found was a bit shocking.

More than half of the organization’s pension assets are level 3 assets.  For those not up to speed on the level 3 assets here is the definition from Wikinvest.

Submitted by Michael Shedlock via MishTalk.com,

On December 10, 2014 the city of Detroit exited bankruptcy.

It was the largest municipal bankruptcy in US history.

The bondholders were totally screwed in favor of the pensioners (not that I generally like bondholders).

Regardless, everything was supposed to be fixed. It wasn’t.

Please consider Detroit Picks Firm to Help Fix $195M Pension Shortfall.

Ahead of the last two recessions, hiring by staffing agencies (ie: temp help) rolled over - it's now happening again.

Part-time employment has led the jobs "recovery" since the recession, leading to more than one in 50 US workers being employed as temporary help. The Sector has now plateaued, as the WSJ points out.

Not only is China facing a significant risk of an economic hard landing, but, as we have noted on many occasions, the country is also facing what perhaps may be an even greater risk: social unrest.

Submitted by Mac Slavo via SHTFPlan.com,

Who exactly is the burdensome, broken and disturbingly unsensible welfare system being run for?

A new study found that both illegal and legal immigrants, who typically work low wage jobs, receive more in government assistance each year than struggling American families do.

via the Washington Examiner: