Silver as an investment

Category Archives: pension Crisis

“These Problems Aren’t Going Away” – States Are Woefully Unprepared For The Next Recession

This report was originally published by Tyler Durden at Zero Hedge It’s no secret that the finances of most US states are in shambles. For many, overly generous pension benefits have led to severe under-funding that threatens to drain state coffers, like in Illinois, where pension liabilities ballooned by a cumulative 1,067% between 1987 and 2016 while revenues for […]

Kentucky Pension Crisis Goes Nuclear As Teacher Retirements Surge 64% Over Last Year

zerohedge.com / by Tyler Durden / Oct 11, 2017 2:36 PM As Kentucky’s Governor Matt Bevin and legislators attempt to design a pension reform bill that will save the state’s various public pension plans from literally running of cash in “three to five years,” or worse yet bankrupting their state, some teachers and other public employees have decided […]

Survey shows UK and US Pensions Crisis is Imminent

Survey shows UK and US Pensions Crisis is Imminent Both UK and US drop in Global Retirement Security Rankings US falls due to sharp income inequality and reduced workforce to support retirees UK is two spots away from being in the bottom 10 for government indebtedness FCA’s Andrew Bailey says “clear risk” that savings rate for […]

1 Million Ohio Public Employees Face Pension Cuts As Another Ponzi Teeters On The Brink

We’ve written frequently of late about the pension crisis in Kentucky where pensioners are facing potentially catastrophic benefit cuts as their politicians finally admit that they’ve been sold a fantasy for decades (see: Pension Consultant Offers Dire Outlook For Kentucky: Freeze Pension And Slash Benefits Or Else). Unfortunately, Kentucky is not unique as there is […]

Pension Consultant Offers Dire Outlook For Kentucky: Freeze Pension And Slash Benefits Or Else

Underfunded public pensions are undoubtedly the biggest threat facing America’s long-term economic stability.  As we’ve argued numerous times in the past, the size of the aggregate underfunding, $5-$8 trillion depending on your assumptions, is simply too large for even the overly generous American taxpayer to cover. Of course, one of the biggest contributors to this […]

Grant Williams: “History Is About To Repeat Itself Again… And It Might Get Ugly”

Real Vision's Grant Williams believes that the 76 million retiring Baby Boomers will trigger a major pension crisis.  “With that potentially bad situation we could face,” the seasoned asset manager and co-founder of Real Vision TV said in a recent extended Metal Masters interview (full interview below), “holding physical metal, somewhere safe, somewhere outside the […]

Record Number Of Dallas Police Officers Quit In July Amid Ongoing Pension Crisis

We first introduced readers to the Dallas Police and Fire Pension (DPFP) crisis last summer in a post entitled “Dallas Cops’ Pension Fund Nears Insolvency In Wake Of Shady Real Estate Deals, FBI Raid.”  For those who have managed to avoid this particular storyline for the past 15 months, here is a brief recap of […]

Illinois Budget: What It Does And Doesn’t Do (Surprise Giveaway To Muni Bondholders?)

Authored by Mike Shedlock via MishTalk.com, Illinois now has a budget, the first in three fiscal years. An excellent writeup on The Stump entitled Illinois Financial Disaster: Even More Reactions to the Budget explains what passage of the budget does and does not do. Here are some links mentioned by The Stump and a few additional […]

Pensions Timebomb In America – “Global Crisis” Cometh

Pensions Timebomb – Pensions “Are Going To Be A National Crisis” – America’s underfunded pension system is “not a distant concern but a system already in crisis”… – Tax may explode as governments seek to bail out insolvent pension plans – Illinois, California, New Jersey, Connecticut, Massachusetts, Kentucky and eight other states vulnerable – The simple mathematical mismatch […]

California is Highest Taxes State in USA and should join the EU

armstrongeconomics.com / by Martin Armstrong / May 14, 2017 Governor Jerry Brown never saw a problem that could not be solved by just raising more taxes. This time, the state pension fund is going broke as we have been warning with the building Pension Crisis thanks to mismanagement and low interest rates thanks to Larry Summers. California […]