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Thread: AS I stated Major pension crisis starting in 2017

  1. #371

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    Quote Originally Posted by Markpti View Post

    The bigger problem is forcing workers into the equities market where the only yield to tackle devaluation lies is a terrible problem for those who will wind up on the schitty end of the deal when bad times hit.

    this means that part of the wage correlated expenses are real money to be paid now by them or the company they work for, but an imaginary source of income when they will retire. It is a burden for everybody to continue to worship the lie, one of those money milking systems we should now consider as a barbaric relic.

    Golditiki2+++

  2. #372

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    I think, in the U.S. we have decreasing life span now which helps.
    https://getpocket.com/explore/item/a...=pocket-newtab

  3. #373

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    Armstrong Economics


    The Pension Crisis Looking to Take Everybody’s Pensions


    COMMENT: This government [Queensland, Australia] pension scheme has been shaky for a while. Originally it was for government employees only, then spouses were eligible to join, later they include all family members and more recently television ads have promoted the scheme for anyone. Clearly this Ponzi scheme is looking unstable. I am glad I set up my own Self Managed Superannuation Fund and closed my account as soon as I retired. It appears the information was reported from the Australian Financial Review.
    Kindest regards,
    MF



    REPLY: This is precisely what California has been pitching for in Washington. It is a Ponzi scheme and with negative interest rates and central banks trapped, they are blowing up pension funds around the globe. UNDER NO CIRCUMSTANCE should you allow your pension fund to be managed by any government-related entity. They cannot pay government employees so they have sought to suck in everybody else to cover up their losses.

  4. #374

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    US ‘Looking At’ CalPERS Holdings in Chinese Defense Firms: Top White House Official

    https://www.theepochtimes.com/us-loo...l_3268408.html

    The Trump administration is “looking at” investments in Chinese military companies by the California Public Employees’ Retirement System (CalPERS), U.S. National Security Adviser Robert O’Brien said on March 11.

    “It’s something we are looking at,” O’Brien said in response to a question during an appearance at the conservative Heritage Foundation think tank. “It’s an issue of security for American investors.”

    The California state executive agency is the largest U.S. public pension fund. It manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families.
    What's the Frequency, Kenneth?

    432Hz

  5. #375

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    Quote Originally Posted by redraspberry View Post
    US ‘Looking At’ CalPERS Holdings in Chinese Defense Firms: Top White House Official

    https://www.theepochtimes.com/us-loo...l_3268408.html

    The Trump administration is “looking at” investments in Chinese military companies by the California Public Employees’ Retirement System (CalPERS), U.S. National Security Adviser Robert O’Brien said on March 11.

    “It’s something we are looking at,” O’Brien said in response to a question during an appearance at the conservative Heritage Foundation think tank. “It’s an issue of security for American investors.”

    The California state executive agency is the largest U.S. public pension fund. It manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families.
    I would not rule out that in reality, the politicians sold No.Ca to China years ago. Just before they killed the logging industry.
    Small business is the incubator of employment. As it declines, so too do opportunities for first jobs, second chances and economic independence.

  6. #376

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    Many Pensions were very under funded. With all thats going on now I am expecting many to lose their pensions if the government doesn't step in and Bail them out (save them).

  7. #377

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    Looks like UPS going on strike and now Yellow freight lines probably going bankrupt. They missed their pension payment.

    How A Yellow Bankruptcy Could Uproot Supply Chains In Real Time

    https://www.zerohedge.com/economics/...ains-real-time

    Yellow Corp. has failed to make its required pension contributions for June and is planning to withhold payments for July. The pension funds, pension accruals and health care coverage for workers will suspend on Sunday, according to a statement by the Teamsters.

    The Teamsters union has threatened to strike by Monday if this is not resolved and the pension contributions remain in default. The company owes $50 million, a large sum for a company in financial distress. Yellow currently has in excess of $100 million in cash reserves, according to an 8-K filed on July 7.

    If a strike comes to pass, this would likely be the end for the storied less-than-truckload carrier.
    What's the Frequency, Kenneth?

    432Hz

  8. #378

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    If I had to depend upon my pension I'd be homeless and hungry. However, it truth, my biggest complaint is the extra amount my wife and I have to pay towards our monthly Medicare costs due to having retirement income from our lifelong savings. This is after having paid into the system for as long as we worked. For those that don't understand this statement, Medicare is not a fixed cost per month per person, but has a kicker added to the monthly fees based upon household income (if married filing joint etc) two years in the past and on an ongoing adjustment to your annual costs. So if you earned more than certain amount two years ago you get to pay more and more. One more reason to not have "income" as you near retirement. I'm sure this will "improve" even more as the government needs more and more taxes to feed the never ending spending!
    American Legion Preamble: https://www.legion.org/preamble

  9. #379

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    Quote Originally Posted by LongDonSilver View Post
    If I had to depend upon my pension I'd be homeless and hungry. However, it truth, my biggest complaint is the extra amount my wife and I have to pay towards our monthly Medicare costs due to having retirement income from our lifelong savings. This is after having paid into the system for as long as we worked. For those that don't understand this statement, Medicare is not a fixed cost per month per person, but has a kicker added to the monthly fees based upon household income (if married filing joint etc) two years in the past and on an ongoing adjustment to your annual costs. So if you earned more than certain amount two years ago you get to pay more and more. One more reason to not have "income" as you near retirement. I'm sure this will "improve" even more as the government needs more and more taxes to feed the never ending spending!
    I see you've met IRMAA also.....can it be reduced automatically once implemented?
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  10. #380

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    Quote Originally Posted by vertical1 View Post
    I see you've met IRMAA also.....can it be reduced automatically once implemented?
    No, I don't have a Part B reduction via my healthcare plan.
    American Legion Preamble: https://www.legion.org/preamble

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