by Martin Armstrong Vladimir Putin tried to reform Russia’s pensions system which is crumbling as is the case in the West. This giant Ponzi Scheme is collapsing and it has been the heart of Socialism. Putin’s approval rating plummeted this year in …
This article was written by Rory Hall and originally published at The Daily Coin We have detailed this problem over the past 3-4 years warning people about how bad the pensions around the nation have become nothing more than another ponzi scheme. …
by Martin Armstrong When you look closely at all the people who line their pockets with huge EU pensions for being a representative of Britain, it is stunning to see why they would argue to “remain” when all the evidence …
by Simon Black Last week, the head of a New York state pension fund found herself a new job. Vicki Fuller, the former head of New York’s $209 billion fund, now earns $275,000 per year working part time for a natural gas group …
by SpontaneousDisorder https://www.bloomberg.com/news/articles/2018-09-27/fed-accounting-change-boosts-unfunded-pension-obligations-chart In case you missed it, the Federal Reserve’s quarterly Financial Accounts report last week included a change to accounting for state and local pension-fund programs. The central bank revised its data for unfunded liabilities, applying a “projected benefit …
via watchdog.org: Florida lawmakers are using an accounting tweak to defer payments on $20 billion in pension debt, a maneuver that not only hides the “true cost of government” from voters but “passes this expense on to future taxpayers,” Truth in …
The California Public Employees’ Retirement System, better known as CALPERS, has offered the job of chief investment officer to Ben Meng, the Wall Street Journal reported Wednesday. Meng is an official of China’s State Administration of Foreign Exchange, its foreign …
From Birch Gold Group A commonly used cliché in investing is “Don’t put all of your eggs in one basket.” If most (or worse, all) of your retirement “eggs” are relying on a pension plan, now would be the time to …
by Simon Black If your retirement plans consist entirely of that pension you’ve been promised, it’s time to start looking elsewhere. As you probably know, pensions are giant pools of capital responsible for paying out retirement benefits to workers. And …
via reason: The recent announcement that a now-defunct law firm will pay $600,000 to a former Costa Mesa mayor and a current councilman and his wife puts to bed an ugly chapter in that Orange County city’s recent history. Nevertheless, it would …
by Martin Armstrong Most small businesses do not offer retirement plans because the excessive regulation which drives the costs significantly higher. Trump’s new Executive Order is primarily designed to reduce those costs by streamlining the excessive regulation. The order further makes …
by Martin Armstrong The Pension Crisis is starting to be noticed in Europe. The German Finance Minister Olaf Scholz is arguing that the federal government has to guarantee the pension level until 2040. He is arguing that the government MUST come …
Wall St. For Main St., Released on 8/17/18 During this 35+ minute interview, Jason asks Mish what he thinks are the most important things going on in the global economy that people should pay attention to for the rest of …
by FS We’ve often discussed problems facing state pension systems, but now we’re seeing the makings of a crisis forming over unfunded liabilities and state pension systems. This time on the Financial Sense Lifetime Income Series, Jim Puplava discusses what he …
Many employees of state and local governments in the U.S. are expecting a financially “comfortable” retirement. But, a big shock likely awaits. Here’s a sobering perspective. https://www.youtube.com/watch?v=JX6Qx06hOjQ
by John Rubino Money manager Rob Arnott and finance professor Lisa Meulbroek have run the numbers on underfunded pension plans and come up with an interesting – and highly concerning – new angle: That they impose a “stealth mortgage” on …
https://www.youtube.com/watch?v=iukCwnpburs The vote taken at the end of the video was to pass a balanced budget. Part of balancing the budget included cutting 21 people from the maintenance department. One of the problems in our city is instead of using …
From Birch Gold Group The outdated pension system in U.S. cities and states is “short by $4 trillion” according to a Moody’s estimate, making it equal to Germany’s entire economy. According to a Wall Street Journal report, it doesn’t look like retirees will …
Do you believe the PENSION CRISIS is worse than we are being told? Pension funds, particularly in the United States have become insolvent, mainly due to theft from those in control of it. The claim has always been overpromising but …
https://www.youtube.com/watch?v=RbtTqdVwjVc In this episode of the Keiser Report, Max and Stacy discuss how deindustrialization and financialization have destroyed the economic viability of communities across America. The latest study from YahooFinance finds that state pension fund managers have blown over $600 …
by Simon Black I’ve been talking a lot about the looming pension crisis… My short thesis is, if you’re depending on a pension for your retirement, it’s time to start looking elsewhere. Pensions are simply giant funds responsible for paying out …
I divided Illinois’ population of about 12 million by the 2016 pension stats of about 208 billion, as anyone here can easily do online. Actually, the numbers are even worse now, two years later. The Chicago Fed has already announced …
BY JOHN MAULDIN Last September, I issued a rather dire Pension Storm Warning. I said that I expect more cities to go bankrupt, as Detroit did. Not because they want to, but because they have no choice. You can’t get blood from …
via Zerohedge: We’ve written quite a bit over the past couple of months about the pending financial crisis in Illinois which will inevitability result in the state’s debt being downgraded to “junk” at some point in the near future (here …
by Simon Black In the year 6 AD, the Roman emperor Augustus set up a special trust fund known as the aerarium militare, or military treasury, to fund retirement pensions for Rome’s legionnaires. Now, these military pensions had already existed for several …
by Egon von Greyerz Brexit, Quitaly and Grexit. Debt Defaults, Stock Shocks, Bond Bubbles, Properties Popping, Derivative Defaults and Banks Busting. Well that is just some of the events that twill take place in the next few years. But the world …
Jun 6 – FS Insider interviews David Marsh, co-founder, and chairman of the Official Monetary and Financial Institutions Forum (OMFIF) in London, to discuss their 2018 Global Public Investor report (click here for free download) on…
by Martin Armstrong The German public broadcast ARD is proposing structural changes. Due to the low interest rates, the ECB has placed the agency in hard times with its pensions. Karola Wille, the director, has called for structural reform to reduce …
Josh Sigurdson talks with author and economic analyst John Sneisen about the growing pension bubble and why it may burst sooner than later. In the most recent news, state pensions are at risk of crashing. According to a recent study …
I actually don’t like pensions. I don’t like the idea of money being pooled together, forcefully taken from individuals, and then given back to you at a later date. I’d prefer the money today. But the issue I have is …