More Bad News About Pensions – Be Your Own Central Bank…(Slow Morning…Had To Help A Friend)

Friday, July 21, 2017
By Paul Martin

THEDAILYCOIN.org
JULY 21, 2017

We just published our latest review of the ongoing pension funds collapsing and must have inspired ZeroHedge as they are reporting this morning a much gloomier forecast than we had previously imagined.

These thieves in corporate America, managers of state and local government pension funds and social security can no longer hide their incompetence and blatant theft.

Here’s the opening to the article we published on July 19:

We write about pension funds a lot. The theft of our pensions and retirement savings is, not only, an ongoing situation, the “big one” is on the horizon and seems to be approaching the apex for millions upon millions of people.

As reported by ZeroHedge July 21:

“We spend a lot of time talking about the public pension crisis because, well, it’s a massive $5 – $8 trillion dollar overhang on the economy and one which will undoubtedly result in some heartache for investors at some point in the future. Unfortunately, there are some problems that are too large for even U.S. taxpayers to fix and, with an underfunding of $52,000 (mid-point) per household, somehow we suspect this is one of them.

Of course, our nation’s various governmental institutions aren’t the only ones to have unwittingly created massive ponzi schemes from which there is no escape. In fact, as Bloomberg points out today, as of the end of 2016 over 90% of the top 200 corporate pensions in the S&P were unfunded to the tune of $382 billion.

The Rest…HERE

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