Chicago’s police pension fund won’t have enough money to pay benefits to retirees in 2021, according to a projection by Local Government Information Services (LGIS). At the end of 2020, LGIS estimates that the Policemen’s Annuity and Benefit Fund of Chicago will have less than $150 million in assets to pay $928 million promised to 14,133 […]
The Pension Crisis is serious and is the catalyst that will bring everything down. Nearly 600 State & Local governments are now in the hole and has reached nearly $1.2 trillion of unfunded pension liabilities in FY 2014. This reflects total pension liabilities of $4.798 trillion and total pension assets (or fiduciary net position) of $3.607 […]
I have been warning that we are headed directly into the collapse of socialism; not capitalism, simply because politicians have been bribing people’s votes with all sorts of promises they never planned on providing. Social Security may have began as a good idea, but then the money was really just a tax and the fund […]
While the Democrats are doing everything they can to stop Trump along with Republican political elites such John McCain, and the shadow elites fund protests, stopping Trump will accomplish nothing for the corrupt socialists state is collapsing. This is the year we had forecast back in 1985 for the Sovereign Debt Crisis to being and […]
The Pension Crisis on the horizon is far worse than anyone can imagine. This is the final straw that will break the back of socialism the same as communism fell. Pensions are in a state of crisis for they lost money in stock in the 2007-2009 crash and then sold the bottom shifting to government […]
QUESTION: Martin – Given your compelling elucidation of the business cycle (which remains ineluctable even with central bank and regulatory distortion of money and markets), the avg annual return targets set by pension and retirement plans seems absurd. CalPERS had an annual bogey of 8% to meet via its active management. Even in a rapidly-growing economy […]
Here is a board meeting of CALPERS illustrating that (1) the majority of the board is totally without any experience in financial markets and (2) they are trying to throw off the board anyone who points out they are in trouble. Pension funds on average need 8% to break even. You will hear in this discussion […]
Kenneth Rogoff is a Professor of Public Policy and Economics at Harvard University. Rogoff calls critics of negative interest rates “ignorant” despite the fact that negative interest rates have been used since 2008 without any success. He had the audacity to say that people should not look at their short-term personal losses, but rather look at the long-term vision […]
COMMENT: Martin, A few weeks ago (12/13/2016) my wife received a notice from her company about changes to her 401K and I thought I was in a Kafka film. The notice basically identified “the investment elections you can make and the actions that will occur if you do not make you elections by the deadlines […]
