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Category Archives: Pensions crisis

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 […]

Which American Cities Will File Bankruptcy Next?

We harp on the massive, unsustainable, yet largely unnoticed, debt burdens of American cities, counties and states fairly regularly because, well, it’s a frightening issue if you spend just a little time to understand the math and ultimate consequences.  Here is some of our recent posts on the topic: America’s Pension Bomb: Illinois Is Just […]

“This Is A Crisis Greater Than Any Government Can Handle”: The $400 Trillion Global Retirement Gap

Submitted by John Mauldin of Mauldin Economics Today we’ll continue to size up the bull market in governmental promises. As we do so, keep an old trader’s slogan in mind: “That which cannot go on forever, won’t.” Or we could say it differently: An unsustainable trend must eventually stop. Lately I have focused on the […]

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 Ponzi Exposed: Minnesota Underfunding Triples After Tweaking This One Small Assumption…

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… classic Ponzi.  But unlike wall street and corporate ponzi schemes no one goes to jail here because the establishment is complicit.  Everyone from government officials to union […]

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 […]

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 […]

After ‘Modest’ 250% S&P Returns, Corporate Pension Funding Levels Roughly Same As 2008

We spend a lot of time writing about public pensions because the aggregate underfunding levels, $3 – $5 trillion on the low end, are simply staggering and at some point they will be realized for the ponzi schemes that they are and the systemic risk they represent to the global financial system.  Until then we’ll […]