US PENSION CRISIS. This is why the Police have been militarized, why we have the NSA spying on EVERYONE. Because when the SHTF, people are going to go APESHIT CRAZY.
>Government pensions are what destroyed the Roman Empire and history is going to repeat.
armstrongeconomics.com
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There is NO fix.
>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 trillion. This staggering number is nearly 25% of the annual GDP and accounts for roughly 97% of all public pension funds in the United States. California is raising taxes to cover the short-fall for now, but this is going nowhere fast. Government pensions are what destroyed the Roman Empire and history is going to repeat.
itll be fine
It has to play out.
This is the big problem that Trump see coming at us.
Steve Bannon also see this coming.
So this is the price of freedumb. Take that euroshits!
How will millions of people react to suddenly not getting pensions they payed into?
>I have stated before that there are people on Capitol Hill who support confiscating all private 401K plans in the country and replacing them with an allotment monthly. We know what will happen to that one, so you better have something else besides cash. The government cannot meet the promises for its own employees and they will turn to increasing taxes and confiscating private property.
>What's going to happen when fat lazy diabetic shitty diversity hire state workers only get 75% of the cushy ass pension they were promised
Absolutely nothing.
Europe will have it's own crisis at about the same time.
Normally leaders and TPTB take their people to war to cover up their crimes and write off debt.
Not sure what Trump will do, he is not a politician.
>be baby boomer
>nothing ever good enough
>retire at 48 get pension
>immediately go pack to work
>twopaychecksforthepriceofone.gif
Anyone else know any boomers who are doing this?
>only get 75% of the cushy ass pension they were promised
If this plays out like Martin Armstrong and his AI program say it, we will ALL be affected in one way or another.
Yes.
Everything cost more.
Remember when gas was .32 cents a gallon?
When a Snickers bar was 10 cents?
No?
Damn I'm an old fuck.
bump
I remember 80 cents a gallon when I was kid
So basically everyone that is looking forward to a noce retirement is screwed.
fuk i'm old.
and so are you....80 cents a gallon
Well Nixon let the fed drop the gold standard so close to 50 years later we all make around the same adjusted for inflation but feel super good about the salary being more than it was in the past. Looking at dollar pricing doesnt convey what is really wrong. Back before the gold standard was dropped you could go to college on half a years salary, buy a home on one years salary, raise a 3 child family on one income...ect...look at us now...look what your time gets you now vs then in terms of time spent working. Hell i know lots of people who pay half their income to rent, thats after about half ends up going to the government when you factor in all taxes (yes we pay corporate taxes with higher prices of the goods/services we buy) What have those taxes gotten us? derelict infrastructure, and a hell of a lot of 3rd worlders protesting for more of it....oh and loss of our majority to hold our own destiny in our hands.
Really dont want to get into the generation blame game but...fuck did the boomers wreck a good thing for feels...
>fuck did the boomers wreck a good thing for feels...
>the only consolation we will get is that history will write scathing accounts of the decadence of people that are already dead
>lots of people who pay half their income to rent, thats after about half ends up going to the government when you factor in all taxes
And the taxes will continue to go up, because the fed gov will NEVER get it's spending under control.
>Really dont want to get into the generation blame game but...fuck did the boomers wreck a good thing for feels.
But it is a generational game, a game the continues to repeat.
When was the last time a Government anywhere on the planet EVER paid off it's debt in full?
NEVER.
yes
close family friend
>retired army officer 75% base pay pension after 27 years or something liek that
>has now been a HS teacher for 6 years and is qualified for the teachers pension.
>will hit 65 next year and qualify for SS
played the system well.
L A B O R V O U C H E R S
same as the UK (and many other places)
if you aren't already retired and getting a pension, or due to within the next couple of years, prepare to be screwed!
the ultra rich will have the money to pay military/police for extra work and they'll do it to feed their families etc
Except there won't be anything left in the till.
When was the last time a country paid off it's debts?
We are in debt to the tune of 20 Trillion.
The biggest debt bomb in history getting ready to explode.
What a time to be alive.
like all empires, we either go to war and expand. or we die. that's why we can't let the chinks win with north korea.
If only we listened
>be librarian
>have comfy job that requires little physical work
>people usually just work till death because the job's so comfy (we even have sections in our specialized management texts about people dying at desk)
Ha ha take that everyone else.
So this is infact a big problem because state and local governments can't just print money like the Fed, so they will need bailouts.
Annex Leafland desu
As for the FED, what happens when there are no buyers for Treasuries?
Interest rates have to go up to draw in more buyers.
When interest rates go up it affects our debt service payments....right?
Except there could be such chaos on the streets you can't even go to the super market.
Fucked bump
Don't care, I got books.
good thing i live bythaawoods.
good points.
This whole crisis period is also called The Fourth Turning, basically a 80 to 90 yr cycle.
>Uncle worked as NYPD detective for 30 years
>Retired, massive pension
>Works part time as a bodyguard
>Doesn't even need the money, he goes on international vacations literally 2 months per year.
>>Government pensions are what destroyed the Roman Empire and history is going to repeat.
among other things, but no small part there.
JUNE SIXTH
Okay so it is true that pensions and welfare will drive countries to debt...all Rome had to do was give out grain and it fell into money issues over that (started after Punic wars when slaves were heavily imported and richer folks bought up land of soldiers who were out fighting)...
Moving on though, from what I recall though, the militarization of police came around the drug war when people were being incarcerated for drug shit and when they left prison, they would join gangs since there was nowhere else to go among other reasons people join gangs. I just find that most of the violent gangs I find today came during the drug war (there were some before in other times of prohibition or any other time period. It is the curious case of the USA with our gangs like MS13, the bloods, among many others compared to other nations like in Europe or the Far East where I at the least have not heard of violent gangs dealing in drugs and weapons trade like it is in the states)....the police response is the use of more suited tactics for violent gangs with weapons. SWAT was founded in the 60's, but was heavily used in the 80's onward due to the war on drugs.
The mass surveillance after the 911 attacks was likely due more to hysteria than pensions since I could not put giving people tax money as the reason for mass surveillance...that link is too far fetched.
In sum, pensions are bullshit, but they didn't cause police militarization and mass surveillance since other reasons are much more likely than a far fetched idea.
Oh you got that right.
We are like the Roman Empire in so many ways.
Uncanny, history repeats.
that chart makes no sense desu
That guy Martin Armstrong is nailing it. Or it's his AI program, whatever.
that's just normal holiday leave in other countries :/
US got fucked over massively
Yes. I'm glad you told us.
The mass police militarization is because TPTB see what's coming and might very well need protection, as well as to control the streets when this implodes.
kill all boomers, obvious solution
I didn't say he takes 2 months off per year. I said he goes on international vacations. Meaning 1st class plane tickets, hotel, excursions, rental cars, food, drinks, etc.
>What's going to happen when fat lazy diabetic shitty diversity hire state workers only get 75% of the cushy ass pension they were promised
this. they're all too lazy to do anything. imagine the slow assholes working at the dmv organizing an uprising because they don't get their pensions
I was confused by
>he goes on international vacations literally 2 months per year.
I have whiskey brain, it happens
this is real i talked about this today actually with some DOD guys.
Gov't is essentially gutting their pension. It will be valued worse that social security by the time these guys retire, if they even can.
This is like a 50-60% cut to these guys retirements.
>US PENSION CRISIS. This is why the Police have been militarized, why we have the NSA spying on EVERYONE. Because when the SHTF, people are going to go APESHIT CRAZY.
What, are the pensioners going to start a riot? Break through police barriers with their zimmer frames?
AND the state and fed gov will look to raise more money with new fees and taxes, which will inhibit growth....vicious circle.
Look at pic related here... This is a 1929 type event.
Back then we didn't have the divisions we have today, and people still believed what Wash DC and the news put put.
Nobody believes the bullshit put out by the MSM and Wash DC today.
I remember it being 76 cents a gallon as a kid, the gas station there sold lemon pepsis too, it was rather nice.
this is a big problem - all these fuckers working past retirement age and keeping those jobs from younger workers. Stop being selfish pricks.
There is a fix.
>Iceland.exe
>Crusades.exe
>Pinochet.exe
>Hitler.exe
in that order.
just cancel pensions
they were never earned
but how are you gonna handle the nig nogs when they start chimping out over no more gibs?
the roman empire was destroyed because of degeneracy and a dictatorship.
>How will millions of people react to suddenly not getting pensions they payed into?
They will blame Donald Trump and vote for more socialism.
Search your feelings. You know it to be true.
shoot em
Ready to give God Emperor Trump emergency powers?
This. I think we'll be just fine.
and how do you deal with the sandniggers and liberals that will chimp out too?
Oh boy, who would have thought that eventually someone would have caught on to the Ponzi scheme
...
All empires fall. All.
it didn't have anything to do with multiple emperors being killed by their centurions after not being paid
some stumble.
What are the old people going to do? Die angrily?
I love me a graph that looks like a fence and is rendered in the form of an etching, really inspires confidence in the theory behind it
Yes!
There is no stopping it! In the future there will less jobs due to innovation and automation. This will lead to problems, no doubt. There will not be money for everything pensions, welfare, health care. The meltdown will begin when the Gov. goes broke and the checks stop. The only thing you can do is arm yourself, have food and water supply on hand. At that time money will not matter. If everyones starving would you trade a ham sandwich for a bar of gold. You can just wait a couple of weeks and pick it up!
My pension (MERS) is fully funded. I retire in two years.
I remember gas at 32 cents per gallon. And a pack of cigaretts for 85 cents.