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Thread: AS I stated Major pension crisis starting in 2017

  1. #281

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    Unfunded Liabilities From State Government Pension a Major Threat, Report Finds


    The American Legislative Exchange Council (ALEC), the nation’s largest organization of state legislators, recently published a report on the growing problems state pension plans are causing.

    ALEC‘s “Unaccountable and Unaffordable” report focuses on more than 280 state administered public pension plans and details their assets, liabilities and unfunded liabilities. The report highlights how unfunded liabilities of state employee pension plans currently stands at more than $6 trillion, a figure which continues to grow. Over the past year, those unfunded liabilities grew $433 billion. The report shows the national average funding ratio stands at 33.7 percent, amounting to $18,676 dollars of unfunded liabilities for every American.



    http://sunshinestatenews.com/story/u...t-report-finds

  2. #282

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    Just have the federal government come good for it. Just think of all those pensioners secure in getting their money. How much they will spend, how much this will contribute to all those businesses
    selling them services and goods, the various level of governments raking in the taxes on income and sales tax. Call it trickle up economics. Why give tax breaks to corporations that are enjoying record profits already, and pretending in the fantasy of trickle down economics. Add in the religion of, debt does not matter, and you can fix any problem, as long as you can put off payment into the future. Nirvana is here.
    Let the good times roll.

  3. #283

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    Quote Originally Posted by brutus2 View Post
    Just have the federal government come good for it. Just think of all those pensioners secure in getting their money. How much they will spend, how much this will contribute to all those businesses
    selling them services and goods, the various level of governments raking in the taxes on income and sales tax.
    But then why not give everyone free money to spend?

  4. #284

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    Quote Originally Posted by Silvercoin View Post
    But then why not give everyone free money to spend?
    I totally agree. They are already doing this for some ( those that may be advantageous to them in votes or political fund raising)
    Since it is apparent that debt does not matter( by the actions of almost all governments),
    maybe we can start by rebating all wage earners, and businesses, any taxes that they paid over 20%, for the past 17 years.
    Just send them all some digital currency in their bank accounts.
    This should really turbo boost spending in the economy next year.
    Who cares if there is 20 trillion in debt or 40 trillion, they are just numbers. Just ask the Japanese, they seem to be doing
    just fine with Godzilla debt to GDP.
    After this we can really get creative. Eliminate pension contributions, eliminate sales and state and federal income tax, eliminate
    medical insurance. Everything can be free. Just put it on the bill. I sleep soundly every night just thinking about all that government largesse
    coming my way.

  5. #285

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    Banksters well connected to the Federal Reserve already cleaned out the trough with multi-trillion dollar bailouts & bonuses from 2008 onwards.

    Public sector and other porkers lining up at the trough will be shocked to find that the gold plated pensions they set themselves up for on the backs of suckers working in the private sector is all but gone.

    If debt no longer matters, it means we are headed for some kind of reset and those who sacrificed, saved and were responsible with their money are going to be ripped off big time.
    Last edited by Silvercoin; 12-24-2017 at 07:07 PM.

  6. #286

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    I vote to put Trump on a billion dollar note. And print just a million of them. Or even just twenty one thousand billion dollar treasury notes and pay off the debt.
    Small business is the incubator of employment. As it declines, so too do opportunities for first jobs, second chances and economic independence.

  7. #287

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    Quote Originally Posted by Silvercoin View Post

    If debt no longer matters, it means we are headed for some kind of reset and those who sacrificed, saved and were responsible with their money are going to be ripped off big time.
    No reset will be necessary. At a certain point, credit will tighten, liquidity will evaporate, asset values will plunge, but the show will go on. Just like it always has. Those not holding "strong" assets and possessing good liquidity
    or having highly valued skills, will not fare well. I was just jesting about debt does not matter. To many in politics it does not seem to matter, as they are not held financially responsible.
    As you said, once the robbing has been done to capacity by them and their backers, then they will place their loot, that they have not consumed, in a safe place and then back policies that will prick the bubble. Everything will be on sale after a while, and the age old debt based cycle will start anew.

  8. #288

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    Quote Originally Posted by brutus2 View Post
    No reset will be necessary. At a certain point, credit will tighten, liquidity will evaporate, asset values will plunge, but the show will go on. Just like it always has. Those not holding "strong" assets and possessing good liquidity
    or having highly valued skills, will not fare well. I was just jesting about debt does not matter. To many in politics it does not seem to matter, as they are not held financially responsible.
    As you said, once the robbing has been done to capacity by them and their backers, then they will place their loot, that they have not consumed, in a safe place and then back policies that will prick the bubble. Everything will be on sale after a while, and the age old debt based cycle will start anew.
    I fail to see how "the debt cycle starts anew" without the entirety of current debt obligations, a great majority of savers and indeed the monetary system itself being wiped out.

  9. #289

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    Quote Originally Posted by brutus2 View Post
    No reset will be necessary. At a certain point, credit will tighten, liquidity will evaporate, asset values will plunge, but the show will go on. Just like it always has. Those not holding "strong" assets and possessing good liquidity
    or having highly valued skills, will not fare well. I was just jesting about debt does not matter. To many in politics it does not seem to matter, as they are not held financially responsible.
    As you said, once the robbing has been done to capacity by them and their backers, then they will place their loot, that they have not consumed, in a safe place and then back policies that will prick the bubble. Everything will be on sale after a while, and the age old debt based cycle will start anew.
    We do keep hearing that debt does not matter, the government does not operate like a household. You are right Brutus, why does the government even need to take taxes from anyone, debt does not matter?
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  10. #290

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    Quote Originally Posted by t00nces2 View Post
    We do keep hearing that debt does not matter, the government does not operate like a household. You are right Brutus, why does the government even need to take taxes from anyone, debt does not matter?
    I muse.... the main reason government needs to lay debt/taxes up on the working poor and their labors is to keep them from succeeding to get independent so the sweet spot for government would be is to have as many people as they can get working part time, but getting free government phone, healthcare, EBT and subsidies shelter, keeping citizens dependent on their intitlements and big wonderful government.
    Small business is the incubator of employment. As it declines, so too do opportunities for first jobs, second chances and economic independence.

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