The Biden Justice Department has agreed to restore full law enforcement benefits and provide attorney fees for disgraced former FBI Deputy Director Andrew McCabe, who was fired by the Trump administration only hours before his retirement three years ago. …
by Shaun Richards Yesterday brought an intriguing joint statement from the UK Prime Minister Boris Johnson and Chancellor of the Exchequer Rishi Sunak. This morning it has been published as an open letter so let us take a look. The …
The world’s largest pension fund (in Japan) announced in the last 24 hours that it is selling over 34% of its US Treasuries. World’s biggest pension fund makes record cut to U.S. bond weighting https://www.japantimes.co.jp/news/202…
Those government retirement systems are sitting on mountains of debt. There’s $144 billion in debt just in the five statewide systems, by the state’s conservative estimate, or $261 billion by a more realistic, independent estimate. They average only 40% of …
Home Builder builds 124 homes doesn’t sell them to individuals, but bundles them, and sold them for 32 million dollars for a giant rental cash flow. … Home Builders to STOP BUILDING AND SELLING AFFORDABLE HOMES – https://www.wsj.com/articles/if-you-sell-a-house-these-days-the-buyer-might-be-a-pension-fund-11617544801?redirect=amp#click=https://t.co/JtnN7aWXee If You …
Uber is to guarantee its 70,000 UK drivers a minimum hourly wage, holiday pay and pensions after a landmark supreme court ruling. The ride-hailing app said drivers would start benefiting from the changes from Wednesday while retaining the right to …
by Ted Dabrowski via Zero Hedge You can’t help but call it a Ponzi scheme. Not if you look at Chicago’s collapsing demographics and consider how they’re threatening the solvency of the city’s government-run pensions. Chicago households are on the hook …
by Ted Dabrowski and John Klingner of WirePoints You can’t help but call it a Ponzi scheme. Not if you look at Chicago’s collapsing demographics and consider how they’re threatening the solvency of the city’s government-run pensions. Chicago households are on …
by Mike Shedlock The amount owed to retirees accelerated faster than assets on hand despite a record bull market. The Wall Street Journal reports the Long Bull Market Has Failed to Fix Public Pensions. “Some of the states allowed themselves to …
via @TaviCosta: One can only imagine the level of risk retirement assets are exposed to these days.
Rich Dad Radio Show, Released on 3/27/19 Public pensions are often compared to the real estate bubble and student loan crisis. Robert talks to Ted Siedle, a pension investigator, who reveals systemic risks in many public pensions ranging from incompetence …
via alec.org: Unfunded liabilities in public pension plans continue to loom over state governments nationwide. If net pension assets are determined using more realistic investment return assumptions, pension funding gaps are significantly wider than even the large sums reported …
https://bloximages.newyork1.vip.townnews.com/ilnews.org/content/tncms/assets/v3/editorial/3/64/364b5ab2-3f92-11e9-a710-933a60cb0ff9/5c7ef1ebd1faf.video.mp4 via ilnews: Legendary investor Warren Buffett said he wouldn’t “walk into liabilities” by expanding in states like Illinois or New Jersey, which carry billions in pension debt. In an interview with CNBC, the Oracle of Omaha was asked about how …
by Martin Armstrong The new proposal in Illinois is for the state to transfer its assets so that they are owned, not by the people, but by the state employees. These proposals will never solve the problem because no one will look …
by Martin Armstrong At the current federal minimum wage of $7.25 per hour, working 40 hours per week, 52 weeks per year, yields an annual income of only $15,080. This is below the annual poverty line. It also reflects something that most people …
Two pension plans in Fairfax County, Virginia are anchor investors in a new $40 million venture-capital fund, according to a statement from the company. Other investors include an insurance company, a university endowment and a private foundation, said Morgan Creek …
by Dr. Eowyn PENSION (a) 11 states that don’t tax public and qualified private pensions: The states that are not on this list tax at least a partial amount or the total amount of public and private pensions. Some states …
via sacbee: Nobody is happy about PG&E’s bankruptcy filing, but California’s two biggest public pension systems are positioned to absorb losses on the utility’s stock without major repercussions. That’s because the pension funds’ multi-million dollar investments in PG&E are tiny fractions of …
Photo by Bank of England | CC BY | Photoshopped from original From Birch Gold Group The pension crisis has been escalating for quite some time, and accounting for pension shortfalls seems next to impossible for state governments. The shortfall between pension assets and …
via Bloomberg: The 14 percent drop in the S&P 500 Index last quarter has big implications for state and local pension funds, which probably saw the value of their assets fall by about 7 percent. Investors with the benefit of a …
by Jon Rappoport Alert to pension fund managers all over the planet—and to everyone else— “If 1,000 US and global pension fund managers start asking questions it could change everything – like stopping a nuclear war.” That’s a statement from …
From Birch Gold Group A lot happened in 2018, and while it would be a challenge to cover them all, there are three big trends that appear to have defined this year economically. And, each of them had an impact on retirees, investors, and the …
via fullmeasure: – It has between 3 to 5 million illegal immigrants. – 1/3 of the nation’s welfare recipients. – 1 in 4 of America’s homeless population. – 1 in 5 Californians lives in poverty. – Its public schools rank in …
Do you think pensions will be CUT in the next recession? It doesn’t take a genius to figure out the pension situation is looking worse and worse, every day. But why is this the case? The stock market has been …
FRANKFORT – In 2000, Kentucky’s public retirement plans were fully funded. Since then, they’ve accumulated nearly $43 billion in debts — making Kentucky’s pension system one of the worst-funded in America. Determining exactly how Kentucky got into this mess is …
via Bloomberg: City bets investment profits from bonds will fund health care Tactic has been used widely for pensions, with mixed results It’s a “considerable risk,” a “bad idea,” or, as one expert put it, “insanity.” And it may be …
via confoundedinterest: Chicago IL (should be ILL) is the poster child for an insane pension program (mostly to municipal workers and public school teachers). But not only in the city of Chicago, but the state of ILLinois as well. Consider that …
by Martin Armstrong The Bundesbank has come out warning that there is a German pension crisis. They have proposed that states raise the pension tax and that they should gradually increase the retirement age because the life expectancy in the future has …
by Robert Kiyosaki of Daily Reckoning This is a very emotional subject, pensions. Politicians and unions promised pensions they had no way to fund for the last 40 years and the bill has come due. It’s not just bad for taxpayers, it’s bad …
by Thinker Federal Reserve is not “American” but a private banking system looking for ways to increase it revenue by way of the American tax payers. US prints the money and gives it to the Federal Reserve and then borrow …