We spend a lot of time writing about public pensions because the aggregate underfunding levels, $3 - $5 trillion on the low end, are simply staggering and at some point they will be realized for the ponzi schemes that they are and the systemic risk they represent to the global financial system. Until then we'll just keep shouting into the abyss.
Authored by John Mauldin via MauldinEconomics.com,
“Companies are doing everything they can to get rid of pension plans, and they will succeed.”
– Ben Stein
“Lady Madonna, children at your feetWonder how you manage to make ends meetWho finds the money when you pay the rent?Did you think that money was heaven sent?”
– “Lady Madonna,” The Beatles
Even as so-called 'sanctuary cities' around the country ramp up their efforts to thwart the Trump administration on enforcing immigration laws, despite the risk of losing their federal subsidies, arrests of illegal immigrants spiked 33% YoY in the first 52 days of Trump's presidency.
Of course, for the Washington Post, such a spike in the enforcement of federal laws is highly disturbing and perhaps even a direct attack on the rights of sexual assault victims.
Authored by Derek Hunter via DailyCaller.com,
Wellesley College made news last month when professors declared “speakers with ‘objectionable’ views are not only offensive to students, but actually diminish their liberty.” Now, the student newspaper at the elite private college has taken it a step further – justifying violence against anyone who “either continue to speak hate speech or refuse to adapt their beliefs” to accepted progressive norms, saying “then hostility may be warranted.”
Via Disobedient Media