Earlier today, Milliman released their 2017 Public Pension Funding Study which explores the funded status of the 100 largest U.S. public pension plans. Not surprisingly, this study only served to confirm many of the rather alarming trends surrounding public pension ponzi's that we discuss on a regular basis.
In the latest sign that America’s looming pension crisis is inching closer to an all-our collapse that will inevitably end in a series of bailouts – or worse, the failure to pay out retiree’s coveted benefits - a handful of California cities are lashing out at CALPers after being forced to hike pension contributions to offset expectations for long-term returns that have been revised lower by the state pension system.
From November 2016...
Protesters demonstrating against the election of Donald Trump made their voices heard again Saturday - taking to the streets of New York for the fourth straight day. A crowd of over 5,000 people gathered in Union Square around noon, their ranks rapidly growing and spilling out of the park.
Hand-drawn signs floated above the crowd, carrying messages like “Love Trumps Hate,” “Unacceptable,” and “Dump Trump.”
Authored by Michael Snyder via The Economic Collapse blog,
The federal government is now 20.4 trillion dollars in debt, and most Americans don’t seem to care that the economic prosperity that we are enjoying today could be completely destroyed by our exploding national debt.
Via The Daily Bell
Just because a Ponzi scheme is run by a government doesn’t mean it won’t collapse.
The situation in Kentucky serves as a dire warning about larger pension systems including Social Security.
What Kentucky is currently facing in like a bank run. When people hear that a bank is failing, they all scramble to get their money out before it goes bust. This snowballs and the bank runs out of cash that much quicker.