Defined Benefit Pension Plans are, in many cases, a ponzi scheme. Current assets are used to pay current claims in full despite insufficient funding to pay future liabilities...
After telling the press earlier on Friday that he would make his decission on whether to end the Obama-era Deferred Action for Childhood Arrivals (DACA), or "Dreamer" program this weekend, or Monday at the latest, moments ago the White House announced that the decision would be revealed on Tuesday instead.
Authored by Charles Hugh Smith via OfTwoMinds blog,
The point is the present system cannot endure.
Despite all the happy talk about "recovery" and higher growth, wages have gone nowhere since 2000--and for the bottom 20% of workers, they've gone nowhere since the 1970s.
Back in May Texas Republican Governor Greg Abbott signed into law a measure to punish so-called "sanctuary cities," despite pleas from some of the police departments of cities like Austin to halt the bill they said would hinder their ability to fight crime. You know, because enforcing laws tends to 'hinder' the crime-fighting process.
Update: Following Trump's Springfield, MO speech, Treasury Secratary Steve Mnuchin issued the following statement which, much like the Presidnet's speech, calls for more jobs, higher wages, higher GDP growth, sugar, spice and everything nice....yet provides absolutely no details on how to accomplish any of it.