Saturday, May 27, 2017

Are Pensions A Thing Of The Past ???

Public and private pensions are under attack around the globe. Here is a report which explores the magnitude of the problem:

Earlier this week we highlighted "Six Terrifying Graphs That Summarize America's Public Pension Crisis" which ranked state, county and city-level public pensions in the United States by which are screwed the most.  To summarize, the study concluded that public pensions in the U.S. alone are currently underfunded by nearly $4 trillion and that taxpayers in Illinois, California and New Jersey should probably be looking to move before getting drowned in their state's coming pension-induced tax hike tsunami.

Of course, as we've argued before, the current pension underfunding levels are sure to only get worse over the coming decades as the world will have to contend with a wave of retiring Baby Boomers and a period of lackluster, volatile returns.  So how bad could the global funding gap get?  Unfortunately, the World Economic Forum (WEF) recently set out to solve that impossible math equation and it turns out the answer is about $400 trillion ... give or take a couple trillion.

You can read the rest @

Now, Mark Zuckerberg thinks that we can fight this problem somehow by embracing globalism and fighting nationalism. You can read about it here:

Dear Mark - Won't that mean that in future NO ONE will get a pension (other than rich bastards like you)?

For a lengthy critique of Zuckerberg's plans for humanity, go here:

Or just consider my simplistic alternative - as long as we value things more than we value people, we're all just rats fighting over the same limited supply of cheese.

Zuckerberg and the other tech titans need to craft a system which does more than just enrich them with wealth surpassing that of Croesus. If they cannot achieve something which truly benefits We The People, then we should boycott them into poverty in a manner similar to what they are doing to us.

Or we could just starve in the dark while they live in splendor.

1 comment:

  1. Here is another critique of Zuckerberg: