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The Ticking Time Bomb That Will Wipe Out Virtually Every Pension Fund In America

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Are millions of Americans about to see the big, juicy pensions that they were counting on to fund their golden years go up in flames in the biggest financial disaster in U.S. history? When Bloomberg published an editorial entitled “Pension Crisis Too Big for Markets to Ignore“, it simply confirmed what a lot of people already knew to be true.  Pension funds all over America are woefully underfunded, and they have been pouring mind boggling amounts of money into very risky investments such as Internet stocks and commercial mortgages.  Just like with subprime mortgages in 2008, this is a crisis that everyone can see coming well in advance, and yet nothing is being done about it.

On a day to day basis, Americans generally don’t think very much about pensions.  Most of those that have been promised pensions simply have faith that they will be there when they need them.

Unfortunately, the truth is that pension plans all over the country are severely underfunded, and this has already resulted in local fiascos such as the one that we just witnessed in Dallas.

But what happened in Dallas is just the very small tip of a very large iceberg.  According to Bloomberg, unfunded pension obligations on a national basis “have risen to $1.9 trillion from $292 billion since 2007″…

As was the case with the subprime crisis, the writing appears to be on the wall. And yet calamity has yet to strike. How so? Call it the triumvirate of conspirators – the actuaries, accountants and their accomplices in office. Throw in the law of big numbers, very big numbers, and you get to a disaster in a seemingly permanent state of making. Unfunded pension obligations have risen to $1.9 trillion from $292 billion since 2007.

And of course that $1.9 trillion number is not actually the real number.

That same Bloomberg article goes on to admit that if honest math was being used that the real number would actually be closer to 6 trillion dollars…

So why not just flip the switch and require truth and honesty in public pension math? Too many cities and potentially states would buckle under the weight of more realistic assumed rates of return. By some estimates, unfunded liabilities would triple to upwards of $6 trillion if the prevailing yields on Treasuries were used. That would translate into much steeper funding requirements at a time when budgets are already severely constrained. Pockets of the country would face essential public service budgets being slashed to dangerous levels.

So where are all of these pensions eventually going to come up with 6 trillion dollars?

That is a very good question.

Ultimately, even if financial conditions stay as stable as they are right now, a whole lot of people are not going to get the money that they were promised.

But things will get really “interesting” if we see a major downturn in the financial markets.  According to Dave Kranzler, if the stock market were to fall by 10 percent or more and stay there for a number of months, that “would cause every single public pension fund to blow up”.  And Kranzler is also deeply concerned about the tremendous amount of exposure that these pension funds have to commercial mortgages…

Circling back to the mall/REIT ticking time-bomb, while the Fed can keep the stock market propped up as means of preventing an immediate nuclear melt-down in U.S. pensions (all of which are substantially “maxed-out” in their mandated equities allocation), the collapse of commercial mortgage-back securities (CMBS) will have the affect of launching a nuclear sub-missile directly into the side of the U.S. financial system.

The commercial mortgage market is about $3 trillion, of which about $1 trillion has been packaged into asset-backed securities and stuffed into yield-starved pension funds. Without a doubt, the same degree of fraud of has been used to concoct the various tranches in these CMBS trusts that was employed during the mid-2000’s mortgage/housing bubble, with full cooperation of the ratings agencies then and now. Just like in 2008, with the derivatives that have been layered into the mix, the embedded leverage in the commercial mortgage/CMBS/REIT model is the financial equivalent of the Fukushima nuclear power plant collapse.

I have previously talked about the ongoing retail apocalypse in the United States which threatens to make so many of these commercial mortgage securities go bad.  It is being projected that somewhere around 3,500 stores will close in the months ahead, and this is going to absolutely devastate mall owners.  In turn, it is inevitable that a lot of their debts will start to go bad, and pension funds will be hit extremely hard by this.

But the coming stock market crash is going to hit pension funds even harder.  Stocks are ridiculously overvalued right now, and if they simply return to “normal valuations”, pension funds are going to lose trillions of dollars.

We are talking about a financial tsunami that will be absolutely unprecedented in our history, and yet investors continue to act like the party can last forever.  In fact, we just learned that margin debt on Wall Street has just hit another brand new record high

The latest data from the New York Stock Exchange show margin debt, or cash borrowed to buy shares, hit a record $528.2 billion in February, up from its prior high of $513.3 billion in January.

Of course my regular readers already know that margin debt also shot up to dramatic peaks just before the last two stock market crashes as well

Prior periods when margin debt hit records occurred around stock market peaks, including 2000 when the dot-com stock boom went bust, and 2007 when stocks began to crater amid early signs of trouble in the housing market ahead of the 2008 financial crisis.

Margin debt jumped 22% from the end of 1999 before peaking in March 2000 at $278.5 billion, the same month stocks peaked. In 2007, margin debt shot up to $381.4 billion in July, three months before stocks topped.

We are perfectly primed for the greatest financial disaster in American history, and yet very few people are sounding the alarm.

This massive financial bubble is a ticking time bomb, and when it finally goes off it is going to wipe out virtually every pension fund in the United States.

 
  • Mondobeyondo

    The prospect of no pensions upon retirement, and also Social Security going belly up… those “golden years” are starting to look a lot like fool’s gold now. Those baby boomer and Generation X dreams of hours at the golf course or dining out at a fancy restaurant? Better think twice. You may not be able to afford that luxurious lifestyle. “But my parents…” Yes, our parents. They are having/will have a better retirement than we’re going to have.

    May you live in *sigh* interesting times.

    • MichaelfromTheEconomicCollapse

      Great comment Mondo.

    • Paul Patriot

      At 51 years young, I agree with your comments. Those of my age or younger are going to face a difficult “golden years” even if we are out of debt and living responsibly.

      Of course I am semi college educated, but mostly technical (blue collar) education.

      My golden years will be when my Lord calls me home.

      • Guest

        Amen to the last sentence! That’s my retirement. 🙂

        • jamesgwolfe

          Most people want to go to heaven, but nobody wants to go just yet. I often wonder why.

      • jim fortaleza

        Golden years for me and the wife were those before 2000. Since then it’s been going downhill on an ever increasing curve as the country’s become more and more socialist and more permissive immorality has taken over the media. Trump is a turn in the right direction, but he lacks political savvy. Hope he can learn fast. If he does, he has a chance to be re-elected.

    • natxlaw

      Well, I was never going to retire anyway. I would like to not “have to” work for someone else but honestly, what else would I do? As long as God gives me life, I can’t imagine there is nothing productive for me to do.

  • Cinderella Man

    I’ve already accepted the fact that there will be no social security for my generation xers. Pensions were a great thing at one time but now they are becoming relics of a bygone era. I always thought it was impossible for a company to continue to pay an employee beyond their length of time at a job. Government pensions are more failed peonies that they will never keep. Basically a politician writes a check their azz can’t cash every election cycle.

    • David

      so have I. believing my Generation will get a social security check in 10 years is like believing that US Army Soldiers are really Guarding Gold @ Ft. Knox. Our Politicians are lying to us as usual they have already blown Social Security but Standard operating procedure for Government officials is deny what you can & downplay what you can’t. right out of their playbook.

      • socalbeachdude

        There are no issues with Social Security at all over the next 10 years.

    • socalbeachdude

      Social Security will continue for the foreseeable future but its likely that sometime around 2032 benefits will have to be reduced substantially.

      • FirstGarden

        Bu-bu-but, Al Gore said it would all be put in a lockbox. 🙁

        He must’ve been on the wrong AL-Gorithm.

        The Incredible Shrinking Fund is safe and sound.
        But still shrinking.

    • tom

      10,000 people a day turn 65 in America. This is going to continue for about 10-11 years. They will be going on Medicare and drawing Social Security. They will also be drawing down retirement accounts if they leave the workforce

      • Bill

        So many fail to recognize the significance of this 10 k per day fact….huge impact on so many things.

    • GSOB

      Jeremiah 23:5
      “Behold, the days are coming,” declares the LORD, “When I will raise up for David a righteous Branch; And He will reign as king and act wisely And do justice and righteousness in the land.

      (Fulfilled)
      See Galatians 3:27 & Colossians 3:10

  • David

    in 3 States that I know of Illinois, Michigan, & California The State Lottery are committing Fraud. Not only can’t they pay out any winnings for more than $600.00 but they continue to advertise on Television. This is Felonious Fraud. How many more States will follow their path? this just goes to show how bad off our Government is financially and the cracks are growing larger.

    • socalbeachdude

      That simply is NOT TRUE at all here in California, David.

      • tom

        New York is paying out

  • Spatial Memory

    Looks like the collapse predictions have taken on the throw spaghetti at a wall see what sticks and hope for an I told you so catalyst.

    REALITY is market cycles differ from economic cycles and certainly a function of the calendar of events. With first quarter ending tomorrow and funds report window dressing unwinds history can’t repeat but prolly rhymes with year 2000 price action. Maybe test that 10% decline guesswork sooner than many anticipate. Jmho 🙂

    • socalbeachdude

      Reality is that markets CRASH BIG TIME, particularly when they reach totally unsupportable elevated levels as they are now at in the US and globally. Just look at your own Chinese markets and see the 50% crash that has taken place just over the past few years.

      • Spatial Memory

        REALITY is most here have watched markets ABSOLUTELY DECIMATE YOUR LUDICROUS HOMESPUN GUESSWORK.

        Sorry for your losses.

        • socalbeachdude

          I have no losses at all as I have no market exposure to risk at all. As to your extreme ignorance and cluelessness regarding markets, you do realize, don’t you, that you are making an utter fool out of yourself by attempting to deny clearly established historical realities?

          • Spatial Memory

            “No market exposure to risk whatsoever”
            ROFLMAO

            Put your head back in the sand.

          • socalbeachdude

            Any money in stock markets is always at RISK OF UP TO 100% LOSSES just as every stock prospectus clearly and very explicitly informs you. Go read one.

          • GSOB

            So what’s the plan man?

          • Stuey

            That’s a good question for him GSOB. All he ever does is preach about what isn’t good. He has said before that precious metals are ridiculous. He is against investing in the stock market and he says the dollar is going to crash eventually. So i would be interested in hearing what he recommends.

          • GSOB

            What I recommend is something also for me. Look for land that is ready to build on.

            Christ is the good land, the tree of life, the water of life and God’s wisdom to us.

            See 1 Corinthians 1:30
            That verse is like drinking from a firehose.

          • socalbeachdude

            Metals are headed for their biggest crashes in history. The US dollar is certainly not going to crash at all and will just keep going higher for the foreseeable future and I have always very clearly stated that.

          • socalbeachdude

            I love the 0.000000001% interest I am getting on my funds at JPMC.

  • Extinction

    “This massive financial bubble is a ticking time bomb, and when it finally goes off it is going to wipe out virtually every pension fund in the United States.”
    What an understatement!! It is This massive financial bubble is a ticking time bomb, and when it finally goes off it is going to wipe out virtually ever PERSON IN THE WORLD. (Un)Fortunately we have (only) three more years left.

    • socalbeachdude

      It will simply mean a a very long overdue revaluation downwards of assets and a drop in incomes.

      • Spatial Memory

        LUDICROUSLY MYOPIC GUESS. ROFL

        • socalbeachdude

          Nope, just absolutely reality ahead.

      • Extinction

        Which will force companies to lay offs, which will reduce their own consumers which will force another round of lay offs, the cycle will continue and man will discover that neither he can eat gold nor paper. He will discover that all the paper wealth is, em! just paper.
        There are too many people on the planet to repeat the previous great collapses.

        • socalbeachdude

          There is no way whatsoever to avoid the previous great collapses and the current impending inevitable collapse will be VASTLY WORSE than any collapse that has ever come before by ORDER OF MAGNITUDE. Credit bubbles ALWAYS END UP COLLAPSING and we are in the biggest credit bubble the world has ever seen in its entire history.

  • James Staten

    Jeremiah 50-51, Revelation 17-18, Isaiah 47 and portions of Isaiah 13-18. The Hindermost of the nations is destroyed in a surprise attack. Rabbis for centuries have said that this nation is a young nation, she is an end time nation, the last of the great nations. She is a mingled people from her beginning, she sits on many waters, rich beyond measure with a large Jewish population. The Hammer of the earth is broken asunder perhaps a reference to the Policeman of the world that gets destroyed in “One Hour’s Time”. And great riches come to nothing. The Economic Engine for the whole world is destroyed. A new economic system is waiting in the wings. Revelation 13…Your only Hope is 1 Corinthians 15:1-4

    • SnodtBlossom

      Jeremiah was a BullFrog

      • GSOB

        Jonah 2:9

      • James Staten

        chuckle, chuckle

    • GSOB

      Do your Rabbis tell you to do this? Hebrews 13:15

  • Liberty First

    My Dad was a pension expert who predicted this 25 years ago. He said it was only a matter of time. He obsessed about it as though he were seeing the future, as with a 1000 yard stare.

    My greatest fear is that those of us who are private individuals, work in the private sector, and are saving our rear ends off to have a retirement, will be required to bail these pensions out. That would be sick and cruel. We shall see what happens.

    • Rick

      Actually, you prophetically just predicted what WILL happen. I’m with you in the private sector. All of my “retirement” savings is in 401k since most companies abandoned traditional pensions long ago. But 401k is funded by the markets, and even if not raided for the bailout of the public pensions, certainly will suffer greatly when the market lets about 50% of its flatuance out. My personal thought is that 401k’s will also be confiscated.

      • GSOB

        Tangible assets sounds like the way to go for you.

      • socalbeachdude

        401K plans can be in all cash at banks, and nobody is going to confiscate them at all.

        • anonymous

          Look at Greece, Mr. Dumass

          • socalbeachdude

            What on earth does Greece have to do with anything regarding pensions in the US?

          • Silver Savior

            Ummmm because we are Greece times 1000. Obviously you have not seen how bad everything has become here.

          • Spatial Memory

            1000 times zero still equals zero- he’ll be unchanged. ROFL

          • socalbeachdude

            Totally and laughably false.

          • Silver Savior

            We are in very bad shape as a country. I am even suprised we even made it this far.

          • socalbeachdude

            Net assets in the USA now are more than double the amount of total debt. Are you somehow not aware as to that fact?

          • Silver Savior

            It doesn’t matter just wait for that quadrillion in derivatives to come crashing down and all those unfunded liabilities. Ouch!

            Talk about a meltdown.

          • socalbeachdude

            Derivatives have nothing whatsoever to do with so-called unfunded liabilities.

          • Silver Savior

            I did not say the two were connected directly. Remember that it’s all paper BS hanging over our heads.

          • HE WILL NOT DIVIDE US

            CTRL-P does wonders

        • Spatial Memory

          Put your head back in the sand. Obviously you’re not familiar with Internal Revenue Act of 1978, Paragraph 401, section K. Again, very telling of how much you do NOT have. Rotflmao

          • socalbeachdude

            Just how stupid can you possibly get?

          • Spatial Memory

            Look homeward for that answer. Rotflmao

          • One need not look beyond the first three words….´´A trust created….´´ No sec 401 for me.

        • Silver Savior

          I am trading out my 401k money for gold and silver. 401ks will be stolen easily.

          • socalbeachdude

            Gold and silver are likely what will be stolen and they’re not insurable in bullion form except on a Jeweler’s Block Policy.

          • Silver Savior

            Yeah more excuses for not investing in the real thing. lol.

          • socalbeachdude

            The real thing is the US dollar. Cash is king the US dollar is the king of kings.

          • Silver Savior

            Yeah….. I don’t want that crap.

          • socalbeachdude

            The US dollar is used in more than 83% of all global transactions and 100% of all USA transactions and is the means by which all goods and services are purchased and all bills are paid in the USA and no other currency is acceptable to do that in the USA.

          • Silver Savior

            Yeah still don’t want it. Still dumping it since before we were on CNBC. The international community is starting to wise up and dumping too.

      • Liberty First

        Agreed re drop in 401Ks and my IRA is in cash right now waiting that drop. Though it will take decades to recover, once the crash sets in for real.

        • Silver Savior

          Cash will be worth nothing too. Hard assets!

          • Spatial Memory

            Only Barber coins. 🙂

          • Silver Savior

            I love barber coins. My preferred real money.

          • Spatial Memory

            Fwalker told me:)

          • Silver Savior

            You kind of sound like Fwalker now that I think of it. Greetings.

          • GoldenGirl

            Fwalker is that you? I was wondering what happened to you! Hope you are doing well.

          • socalbeachdude

            Cluelessly false.

          • Silver Savior

            Cash is worth less and less everyday. Products and services are requiring more and more fiat for the same or smaller packaged items.

            I thought you would have gotten a clue by now.

          • socalbeachdude

            Nope, and the US dollar is up about 140% over the the past 5 years in its purchasing value against silver which has plummeted about 70% today from its manic speculative high of $50 per ounce on September 5, 2011 (not to mention that silver also his that price 37 years ago all the way back in January 1980!).

          • Silver Savior

            Its good that silver is low in fiat dollar terms. It has been manipulated. I load up cheap today for the post dollar paradigm of tomorrow!

            Why would I want to buy high?

          • socalbeachdude

            Silver will be going much lower in US dollars and is quickly headed towards and to its mean of $8 per ounce.

          • Silver Savior

            Oh you mean I can back the truck up and load up? Nice!

          • Surrounded by Weak Minds

            Some of Trump’s key advisors are pushing for a bill that would ban anyone with an adjusted gross income under $35,000 from buying silver.

          • Silver Savior

            Ha ha ha.

          • Reality Wins

            Perfect! I will sell the silver I bought at $16 taking a loss and not pay federal or state income tax for a year or three. Then I will load up on double the amount of silver I had when I started.

          • Daddyotis

            Silver and ammo

      • Silver Savior

        I think taking that 401k money out at a loss and buying gold and silver with it would probably be better at this point.

        • socalbeachdude

          There are major major tax consequences to prematurely taking money out of 401Ks. There is also a 28% capital gains collectible tax on any profits made in metals regardless as to how long how hold those things.

          • Silver Savior

            Who says I will ever exchange metals for fiat currency?

          • socalbeachdude

            Then why would you care about their price relative to the price of the US dollar?

          • Silver Savior

            I don’t. I might use dollar comparisons from time to time because it’s what is familiar to people but all in all silver is for trade as the medium of exchange by itself.

          • socalbeachdude

            Silver is not accepted by anyone anywhere as a “medium of exchange” for the floating bullion value of silver. You may, of course, use all LEGAL TENDER silver coins minted by the US Mint for their official clearly stated face value which in the case of a 1 oz. silver American Eagle is exactly $1.

          • Silver Savior

            Sorry that’s incorrect. You should get out more.

    • Pete

      Government ’employees’ have always been over compensated and under worked. This is their problem; let them eat it.

    • Fred762

      Why do you think gvt keeps trying to disarm us sheeple? THEY know what’s coming……

  • Midwest Values

    I work in corporate real estate. Look at all the small multi-tenant buildings built, then look at Tenants, then look at the rent those Tenants are paying. Finally, look how much those centers sell for after they are stabilized.

    The high rent paying Tenants occupying these centers are in categories that are closing down. (Ie fast casual pizza, healthy food no one understands or eats), 7 mattress stores from the same company within a golf shot of each other.

    As these centers empty out. The &@ will hit the fan.

    • socalbeachdude

      Yep, 100% correct.

    • Stuey

      Yeah, i have noticed all these mattress stores so close together, what is going on with that? Are people buying that many mattresses?

      • Midwest Values

        Done to create brand awareness and keep competitors out. Paying rents that will never get replaced. That’s when the &^ will hit the fan.

      • Bruce

        Recently a very valuable retail corner lot was bought and the thriving convenience store that was there was torn down. Guess what moved it? a mattress store. Been a few months now and I have yet to see a single customer in there. Who is buying all these mattresses? NO ONE that’s who!

  • JC Teecher

    Check this out….ten of the world’s largest hedge fund management companies are holding about half a trillion in hedge fund assets under management, and eight of those are headquartered in USA. the other two in London. A large portion of the total USA pensions are managed by these ten.

    Black Rock is considered to be the largest investment manager in the world, with a total of over 5 trillion in assets.
    The total US pensions is estimated to be around 23 trillion.
    Black Rock manages a very large portion of that 23 trillion and pays out over a million annually for lobbying.

    What happens if the whole thing becomes a planned implosion and the insiders know ahead of time; sort of like the big Insurance companies that made a killing (pun intended), by just conveniently having a hunch, just prior, that the twin towers would collapse?

    So much for that retirement property at the beach, or that new boat.
    Millions will loose trillions. Sad.

    • Spatial Memory

      I need a loose trillion.

      • socalbeachdude

        Just ask the PBOC for $1 trillion of their $34 trillion in collapsing renminbi (RMB / yuan)!!!

      • Mark

        A trillion in soon to be toilet paper?

        • socalbeachdude

          Only as respects the renminbi.

        • Mark

          A trillion of federal reserve a$$ wipe.

  • socalbeachdude

    100% correct and absolutely excellent article, Michael. Pensions are by far the biggest and most catastrophic financial crisis facing Americans. The only minor correction I would make is that the best word to use for this mess is that pensions will IMPLODE as opposed to explode!

    • Spatial Memory

      Put your head back in the sand. The article contained the correct verbiage. Educate yourself regarding the term “Economic Displacement”. If the concepts are beyond your limited comprehension then even the term ‘Displacement’ CLEARLY PROVES your GUESSWORK NONSENSICAL.

      • socalbeachdude

        What on earth are you blathering on so utterly nonsensically about?

        • Spatial Memory

          Enjoying the comedy as you prove your lack of education whatsoever.

          • socalbeachdude

            My comment above to which you are commenting states “100% correct and absolutely excellent article, Michael. Pensions are by far the biggest and most catastrophic financial crisis facing Americans. The only minor correction I would make is that the best word to use for this disastrous mess is that pensions will IMPLODE versus EXPLODE.”

            Just what part about that do you in any disagree at all?

          • Spatial Memory

            Put your head back in the sand. ROFL

          • socalbeachdude

            Yours – if you have one – never leaves the sand. Pitiful. Just pitiful.

          • Spatial Memory

            No chance ANY predictions anywhere could possibly be as pitiful as those you CONTINUOUSLY OBSESSIVELY foist.

            Sorry for your losses.

          • socalbeachdude

            Your dumb clueless thang!

    • Horiboyable .

      I have been warning folks here in the UK since the 90’s. I avoided taking out a pension because I knew it would most probably not pay out and the nice lady that sold it to me will be long gone with her commission. Here in the UK it is estimated that pension funds are short by 800 billion+. This is going to get a lot worse because all western governments are broke and many will default on their sovereign debt like they all did in 1932. It is compulsory for pension funds to hold a % of sovereign debt in their portfolios.
      I am going to get some popcorn and watch the riots when all this kicks off. ETA’ the end of this year!!!

    • GSOB

      God has given us life and has given us the body.
      What can He not do for us,
      who did that?

      • SnodtBlossom

        there is no god

        • James Staten

          1 Corinthians 15:1-4

        • Mark

          An atheist was seated next to a little girl on an airplane and he turned to her and said, “Do you want to talk? Flights go quicker if you strike up a conversation with your fellow passenger.” The little girl, who had just started to read her book, replied to the total stranger, “What would you want to talk about?” “Oh, I don’t know,” said the atheist. ” How about why there is no God, or no Heaven or Hell, or no life after death?” as he smiled smugly. “Okay,” she said.” Those could be interesting topics but let me ask you a question first. A horse, a cow, and a deer all eat the same stuff-grass. Yet the deer excretes little pellets, while a cow turns out a flat patty, but a horse produces clumps. Why do you suppose that is?” The atheist, visibly surprised by the little girls intelligence, thinks about it and says, “Hmmm, I have no idea.” To which the little girl replies, “Do you really feel qualified to discuss God, Heaven and Hell, or life after death, when you don’t know crap?”

          • SnodtBlossom

            belief in god is crahp

          • Mark

            You probably are an atheist because you had a bad experience as a child.

          • SnodtBlossom

            Your belief in god is Oedipal

          • Mark

            Nope. I believe in Jesus and Jehovah. At least I’m going to be on the winning team in the end. What about you???

  • socalbeachdude

    Collapsing pensions will fuel America’s next financial crisis

    http://www.marketwatch.com/story/collapsing-pensions-will-fuel-americas-next-financial-crisis-2017-03-14

    Pension crisis too big for markets to ignore

    In late 2006, Aaron Krowne, a computer scientist and mathematician, started a website that documented the real-time destruction of the subprime mortgage lending industry. The Mortgage Lender Implode-O-Meter caught on like wildfire with financial market voyeurs, regularly reaching 100,000 visitors. West Coast lenders, some may recall, were the first to fall in what eventually totaled 388 casualties.

    A year earlier, to much less fanfare, Jack Dean launched another website in anticipation of the different kind of wave washing up on the California coastline. Called the Pension Tsunami, the website was originally conceived to provide Golden State taxpayers with a one-stop resource to track news stories on the state’s mammoth and numerous underfunded public pensions.

    Dean came about his inspiration honestly: “I started tracking this issue in 2004 after the Orange County Board of Supervisors gave a retroactive pension formula increase of 62 percent to county employees,” he said. “I was stunned. It’s the main reason Orange County has a $4.5 billion underfunded liability today.”

    As the years have passed, though, the site has become a font of information for states and municipalities nationwide as well as corporate pensions. In all, over 40,000 headlines have been posted to the website to date.

    https://www.bloomberg.com/view/articles/2017-03-24/pension-crisis-too-big-for-markets-to-ignore

  • socalbeachdude

    Pension Tsunami

    PensionTsunami.com

  • socalbeachdude

    The only “backstop” for failed pension funds in the US is the PBGC (Pension Benefit Guarantee Corporation) run by the US government and it is totally insolvent at this stage.

    Pension Benefit Guaranty Corp – PBGC Protects America’s Pensions

    https://www.pbgc.gov/

    Pension Benefit Guaranty Corporation – Wikipedia

    The Pension Benefit Guaranty Corporation (PBGC) is an independent agency of the United States government that was created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary to carry out its operations. Subject to other statutory limitations, PBGC’s insurance program pays pension benefits up to the maximum guaranteed benefit set by law to participants who retire at 65 ($60,136 a year as of 2016). The benefits payable to insured retirees who start their benefits at ages other than 65 or elect survivor coverage are adjusted to be equivalent in value.

    In fiscal year 2015, PBGC paid $5.6 billion in benefits to participants of failed single-employer pension plans. That year, 69 single-employer pension plans failed. PBGC paid $103 million in financial assistance to 57 multiemployer pension plans. The agency’s deficit increased to $76 billion. It has a total of $164 billion in obligations and $88 billion in assets.

    https://en.wikipedia.org/wiki/Pension_Benefit_Guaranty_Corporation

    • FirstGarden

      I wondered if anyone would be bringing up PBGC. I’ve been receiving benefits from them since the late 90s. It’s not much, so will be no great loss. But now, if SSI gives way, I’ll be back to wild edibles, and probably live longer for it.

      • GSOB

        Job 38:41

      • alan

        Or eating each other.

    • GSOB

      Look at the birds.
      They don’t plant or harvest or store food in barns,
      for your heavenly Father feeds them.
      And aren’t you far more valuable to Him than they are?

      • Alberto Francis

        No, because the Creator cares for all his creations equally. We were placed here to take of God’s creations not destroy them and the rest of the planet like we are doing now.

        • Pic889

          Oh please, show me a sign that God cares about anything. Earth looks just like a normal natural system to me, without any external intervention minus the photons coming from the Sun as a result of nuclear fusion.

          But hey, if you want to imagine a fictional supervillain (“the Devil”) and a fictional superhero (“the God”) having fictional battles among each other to preserve what you perceive as “order”, you can do that. Just don’t expect from me to take you seriously.

          • Brad Dueringer

            All you have to do is look around at all the innocent children sufferin due to wars, famine and drought and look at all the animals that suffer at man’s hand and at natures hand….

            Young children in cancer wards with brain tumors or the children born in the war zones tha the US has poisoned with depleated uranium having horrible mutations….

            Make me want to hit the next moron that says “God is in control”

            They sound like Moonies that completely, in an almost moronic way, ignore reality hitting them right in the face.

            You can’t fix stupid.

            have been found with over 100,000 tics on it. Actually consuming half of its blood.

            The delusional belief that “this is God’s world” or that “God is in control” literally brings me to laughter….yea, the little 5 year old girl in a cancer ward with a brain tumor is God’s will….give me an f’n break.

            Yea “God just wants to take her home” WTF? Why the hell did he send her here in the first place?????? To give her a brain tumor???

            You religeously confused people have me confused – I don’t know whether to laugh at you, cry or be angry…

            We are in Hell. Sermon on the Mount….”this is not my father’s kingdom”

            Yashua (Jesus is a made up name and if you research the latin it means..”hail Zeus”) said: “this is a vine that has grown up outside my fathers kingdom, that shall be pulled up by the roots an uterly destroyed”

            Yeshua said “be in the world but not of the world”….”whoever loves this life will lose it and whoever hates this life will gain it”

            When Lucifer was kicked out of heaven….where alwas he sent??? Look in your Bible….he was sent down to earth.

            When lucifer offered kindoms on earth to Yeshua, he refused. But he never said that the kingdoms weren’t Lucifer’s.

            If this is Lucifers domain…sent here by the Father, he owns kingdoms here and can grant followers wealth and fame here (Hollywood is loaded with examples)…..what do you call the place Lucifer runs/owns?

            We are in Hell…wars all the time…famine…disease…strife…envy …ego…this is Lucifer’s/Satan’s world

            The church’s will all be false in the end of days……yep they teach most incorrectly…..Yeshua is our savior because he has warned us where we are and after our death we may rise up with him to be with his father.

            That’s why he died for us..

            To show us that we are not just flesh and blood but etherial beings that will be judged how we lived this life….if we are not “of this world” or in other words we don’t join in on the evil, then when we rise up after death we can join him in his father’s realm and escape from the Hell we are currently stuck.

          • Random

            You just don’t understand… See God sacrificed himself, to himself, so that he could save you from himself, because unless you believe the right things you will be subjected​ to his wrath for doing exactly what he knew you would do before he created you.

          • Brad Dueringer

            Well said. That is the dogma that most so called churches try to get their compliant body to swallow. We might as well still have “witch doctors”.

            Although in south America the medicine men learn their spiritually with alyusca sp? that delivers a large dose od DMT to the brain allowing the pineal gland to give them access to another realm. But that is a story for another day…..Cheers!

        • Brad Dueringer

          Thats why there are moose in Canada that have been found with over 100,000 tics on it. Actually consuming half of its blood.

          The delusional belief that “this is God’s world” or that “God is in control” literally brings me to laughter….yea, the little 5 year old girl in a cancer ward with a brain tumor is God’s will….give me an f’n break.

          Yea “God just wants to take her home” WTF? Why the hell did he send her here in the first place?????? To give her a brain tumor???

          You religeously confused people have me confused – I don’t know whether to laugh at you, cry or be angry…

          We are in Hell. Sermon on the Mount….”this is not my father’s kingdom”

          Yashua (Jesus is a made up name and if you research the latin it means..”hail Zeus”) said: “this is a vine that has grown up outside my fathers kingdom, that shall be pulled up by the roots an uterly destroyed”

          Yeshua said “be in the world but not of the world”….”whoever loves this life will lose it and whoever hates this life will gain it”

          When Lucifer was kicked out of heaven….where alwas he sent??? Look in your Bible….he was sent down to earth.

          When lucifer offered kindoms on earth to Yeshua, he refused. But he never said that the kingdoms weren’t Lucifer’s.

          If this is Lucifers domain…sent here by the Father, he owns kingdoms here and can grant followers wealth and fame here (Hollywood is loaded with examples)…..what do you call the place Lucifer runs/owns?

          We are in Hell…wars all the time…famine…disease…strife…envy …ego…this is Lucifer’s/Satan’s world

          The church’s will all be false in the end of days……yep they teach most incorrectly…..Yeshua is our savior because he has warned us where we are and after our death we may rise up with him to be with his father.

          That’s why he died for us..

          To show us that we are not just flesh and blood but etherial beings that will be judged how we lived this life….if we are not “of this world” or in other words we don’t join in on the evil, then when we rise up after death we can join him in his father’s realm and escape from the Hell we are currently stuck.

          • Carl

            “Thats why there are moose in Canada that have been found with over 100,000 tics on it. Actually consuming half of its blood.”

            Holy ticks batman. Now that is something. I always wondered how animals avoided being food for these vile little beasts. I guess they don’t. I hate ticks they are the worst of the worst.

            Preppers may want to be warned if you decide to spend the SHTF in the woods bring plenty of deet because the illness and disease these things spread is worse than just going in one quick poof if the world ended.

          • Carl

            You are right we are all ethereal beings and our reason for being on this earth is to grow our soul if you will. Some will have to incarnate many lifetimes back to earth before they are able to incarnate to another realm or level if you will. While others will continue back to earth repeatedly until they learn what they need to do to get to the next step.

            Though I believe there are some that incarnate back here purposely because they are darker than most and like the power they have here to inflict pain, dominance, suffering, etc on others.

      • Carl

        Not true. Birds will hide food to eat later also known as caching (google it). Squirrels store food for the winter. Wildcats will bury small prey, you get the drift.

        And yes some animals starve to death in times of drought, etc. Look at lions in Africa that are skin and bones.

        So god is NOT taking care of the food needs of animals.

        So like the animals if human beings do not work and make enough money to put a roof over their heads and food on the table; they will be without shelter and/or food.

        There are homeless shelters and food banks but these are not staffed by god and his angels. It is real live flesh and blood people housing and feeding those in need.

        • Carl

          Also to add just saw this yesterday there is some drought in India and a cobra was so thirsty that a person actually gave him a drink from a bottle of water.

          So everyday animals die from hunger and thirst and GOD does NOT do anything to prevent this. Same for people which is why retirement for many is such a frightening proposition if they do not have family they can rely on.

        • Brad Dueringer

          I agree completely.

      • TheHolyCrow

        Is that why “He” allowed governments to DEMOCIDE over 200,000,000 of us in the 1900’s ? Maybe “He” had a lot of space in hell that “He” wanted to fill up ?

        • Brad Dueringer

          Illogical “Christians” are a constant source of amusement

      • Brad Dueringer

        Good luck with that one:

        We are in Hell. Sermon on the Mount….”this is not my father’s kingdom”

        Yashua (Jesus is a made up name and if you research the latin it means..”hail Zeus”) said: “this is a vine that has grown up outside my fathers kingdom, that shall be pulled up by the roots an uterly destroyed”

        Yeshua said “be in the world but not of the world”….”whoever loves this life will lose it and whoever hates this life will gain it”

        When Lucifer was kicked out of heaven….where alwas he sent??? Look in your Bible….he was sent down to earth.

        When lucifer offered kindoms on earth to Yeshua, he refused. But he never said that the kingdoms weren’t Lucifer’s.

        If this is Lucifers domain…sent here by the Father, he owns kingdoms here and can grant followers wealth and fame here (Hollywood is loaded with examples)…..what do you call the place Lucifer runs/owns?

        We are in Hell…wars all the time…famine…disease…strife…envy …ego…this is Lucifer’s/Satan’s world

        The church’s will all be false in the end of days……yep they teach most incorrectly…..Yeshua is our savior because he has warned us where we are and after our death we may rise up with him to be with his father.

        That’s why he died for us..

        To show us that we are not just flesh and blood but etherial beings that will be judged how we lived this life….if we are not “of this world” or in other words we don’t join in on the evil, then when we rise up after death we can join him in his father’s realm and escape from the Hell we are currently stuck.

  • geoffandmarie418@aol.com

    At one time Amerika was a great place, not so much any more!! Now more like a big joke!!! More and more good hard working folks of all walks of life are being punished for trying to raise their families and being productive members of society!!
    We need to stop fighting amongst ourselves and unite against the forces arrayed against us!! Guess that would be to smart!!

    • GSOB

      …For God was pleased to have all His fullness dwell in Him, and through Him to reconcile
      to Himself all things, whether things on earth or things in heaven, by making peace through the blood of His cross.

  • geoffandmarie418@aol.com

    Saying this with a heavy heart, This is one of the reasons why so sadly, more and more people are selling drugs!! Supply and demand, never have to worry about the drug business going belly up, unlike the stock market. Once again said with a heavy heart!!

    • GSOB

      Listen… Jesus said:
      For I have come down from heaven, not to do My own will, but to do the will of Him who sent Me.
      And this is the will of Him who sent Me,
      that I shall lose none of all those
      He has given Me,
      but raise them up at the last day.
      For it is My Father’s will that everyone who looks to the Son and believes in Him shall have eternal life and I will raise him up at the last day.”…

    • Carl

      But where do the people get the money to buy the drugs?

      • Troll Patrol

        Where do you get the money to buy yours?

        • Carl

          It’s a legitimate question because many who are addicts are unable to work so where do they get the money to buy drugs? I guess prostitution for women and stealing/prostitution for men? But who is paying them and how do they afford it in those areas?

          • socalbeachdude

            Indeed, Carl.

  • chilller

    Pensions are a ponzi scheme. More people have to contribute so previous contributors can collect. With fewer people working…what did they expect?

    • Rick

      Well, this all started somewhere, at some point people were paying in and the funds were there to be sourced out. The problem is back in the 30s under FDR when this all started, the beneficiaries of the funds had never paid in, or at least very few. And much more was being taken in by the government than being paid out, this by actuarial design. So my question is where did the big pile of early money go? And what crooks in government have stolen it from us over the past 70 years? Maybe they should be held responsible?

      • socalbeachdude

        Huh?

    • GSOB

      Social support

      • socalbeachdude

        Well, that’s certainly NOT going to happen!

  • Horiboyable .

    We are perfectly primed for the greatest financial disaster in American history…….. in world history!!!

    • GSOB

      The US is at war with at least 6 countries simultaneously.

      Iraq
      Syria
      Yemen
      Libya
      Somalia
      Mexican Drug war

  • Black

    Whats going to happen to all those retirees who are living in $10,000/month “Assisted Living Palaces”? They worked hard for 25 years flogging life insurance and are entitled to their lavish retirement!

    • Spatial Memory

      …happily ever after. The end.

      • GSOB

        Once you were alienated from God and were hostile in your minds because of your evil deeds.

        But now
        He
        has reconciled you by Christ’s physical body through death to present you
        holy,
        unblemished,
        and blameless
        in His presence…

    • Babycatcher

      5cc’s of phenobarbetol, and ship them to the funeral home. Saving money any way they can!

  • anonimouse

    I reckon you have it wrong much of worldwide pension savings are in bonds/treasuries at practically zero even negative interest rates. The big risk is sovereign default because that takes down the pension funds. The other risk are currency devaluation’s and dilution of purchasing power of a currency meaning you still get paid you just can’t buy much.

    • Rick

      Good points. Just switching to the personal side of unsustainable debt. Let’s say I have credit card debt of $25,000, and also have just received an annual bonus of $25,000. Under the conditions of devaluing the currency, which as you say results in less buying power, so inflation in an odd way. Would I be better off to pay my whole cc debt, or let it ride under inflationary conditions? Thanks

    • socalbeachdude

      There is no risk whatsoever of any US government default on US Treasuries and no pension funds in the US have any funds in foreign government bonds.

  • JC Teecher

    A bigger, and more important story is the defunding of Planned Parenthood, which is great for Christian taxpayers, and should be vied as a victory by all Americans, but sadly, nearly 65% have no problem with killing of innocent in the womb.

    Isn’t the name “planned Parenthood” an oxymoron, since they actually plan to eliminate the very life that consecrates parenthood?

    • SnodtBlossom

      Several innocent truly alive children starved to death while you wrote that.

      • NorthernBud

        No they didn’t. At least not anywhere near where PP is being utilized.

        Nice try.

        • GoinSheep

          exactly

      • randy wellman

        where ARE these dead children? are you talking about another country? we don’t allow parents to let children die in our country. and we don’t CARE about children dieing in OTHER countries, because their LEADERS are criminals, and the citizens won’t overthrow them and put people in power that will do the right thing for them….we take care of our own, and i aint got no time to worry about OTHER countries.

        • Carl

          “we don’t CARE about children dying in OTHER countries, because their
          LEADERS are criminals, and the citizens won’t overthrow them and put
          people in power that will do the right thing for them”

          Actually Randy in countries that are resource rich you will find that your very own American government is the very reason these people cannot put anyone decent in power and if they do war seems to break out soon enough. Even Ghadafi was gotten rid of because of a little something about a waterway. Research it.

  • Alberto Francis

    Folks need to start looking at other options for retirement. Setting up a small farm, expatriating to another country to live at a fraction of the cost here, etc etc… there are a lot of ways to do so. just have to start doing your homework now.

    • JC Teecher

      Setting up a small farm is a good idea. For most, that would require using most of their retirement/pension funds for purchasing enough land outside the city limits, in most locales.

      The benefits of which could be felt right away with the satisfaction of growing food producing plants and trees.
      Growing up on an Apple & Peach farm, then later a broiler Chicken Farm, we took a lot of those things for granted.

      Always having cooked apples on the table at every meal was normal, along with the occasional apple or peach pie. Sunday fried chickens, yes chickens, was just a given. We always caught and processed two chickens, when they were of age, from one of the 300 ft houses.
      When not of age, or had been sold off for processing, we had barn yard chickens running around everywhere. Free range birds, which were fed well with the endless supply of feed.

      Either go in their roosting coop early before daybreak and snag a couple off the roost, or set a box trap and catch a couple for home processing.

      A weekly ordeal that soon became easy to lay the bird on a chopping block and man up with the ax. At seven years old, it was just a part of life, and death, on the farm.
      Nowadays, I am able to buy from the store, and my farming is limited to vegetable gardening and beginning a newer small vineyard. Planted a seedless variety of grape this week. Excited to make some new wine come fall.

      • Carl

        I like chickens because they eat ticks.

        • GSOB

          Son, where did you get the raisins?
          …….’from the dog’, daddy.

        • JC Teecher

          I like chickens because they taste good when properly seasoned, or just plain on a stick over a wood fire.

          Or… the eggs from them. I eat a 4 egg omelet about once a week..western style.

    • Stuey

      Have you ever worked on a farm? That isn’t what i would consider a retirement.

      • GSOB

        Genesis 3:19

      • Alberto Francis

        It’s good work in your retirement years. keeps your mind and body busy. I am advocating a full blown farm to the level of being commercial, but a small family farm is OK. Or at least enough land to supplement a good portion of your food supply.

  • Spatial Memory

    Heavy tape – unpaintable through AM margin activity.

    • socalbeachdude

      The Dow fell more than 65 points today and the Global Dow fell more than 12 points today. Nice window dressing!

  • Spatial Memory

    TMV 22.67 junk? 🙂

  • Stuey

    Many Americans are like myself and don’t have pensions.

    • GSOB

      How old are you Stuey?
      (just curious)

      • Stuey

        49……..i have prepared for my retirement, but a pension isn’t part of that plan.

        • GSOB

          Romans 5:1
          Therefore, since we have been justified through faith, we have peace with God through our Lord Jesus Christ,

  • randy wellman

    bring it! we so RICHLY deserve what’s coming.

  • geoffandmarie418@aol.com

    At times the American peoples greatest threats come not from terrorism from overseas, but from sources much closer to home!!! Economic terrorist who hijacked the economy.

    • socalbeachdude

      Huh?

  • Spatial Memory

    QQQ fresh high

  • geoffandmarie418@aol.com

    On september 11, 2001 terrorist from overseas, who were living in America hijacked 4 planes and “crashed” them in to buildings (actually 3 planes as 1 was forced down by passengers) causing many deaths and untold suffering!!

    During the great recession, the elite people who oversee the government, financial institutions, and mega corporations here in America hijacked the economy, causing it to “crash”, causing untold economic suffering. What they did was just as devastating to the American people, it was just more in a subtle way!!

    • JC Teecher

      The whole thing was a planned ordeal that involved the ptb, Osama bin laden, and cooperation from within our corrupt politicians.

      The plane over Penciltucky was not downed by the passengers, unless they sawed off the tail section about two miles before the impact zone.

      Some of the first to arrive in the area found the tail section, separately, and it was reported…before the authorities hushed them, and the stories up.
      Same thing with the John Jr. plane crash, and the crash in the Hudson river.
      Both had early reports of what actually happened, but was silenced immediately. The pilot of the Hudson Bay crash may have saved the passengers, but he knows it was not caused by “birds”.
      If there were any birds in the area that day, they became goats…as in scapegoats.
      In both incidents, at least one witness saw a SAM in flight before the hit. Go figure.

      • geoffandmarie418@aol.com

        Nice response, though I was talking more about the collapse (crashing) of our economy by the elite!!

        • JC Teecher

          Yea, I use every opportunity to enlighten people that are behind on the real stories and most probable truths.

          You are correct and informed about the elite and their evil plans against Americans.

      • socalbeachdude

        Osama bin Laden had nothing whatsoever to do with the crimes that took place in the USA on September 11, 2001 and he died of natural causes from renal (kidney) failure on or about December 12, 2001.

    • socalbeachdude

      The crimes that took place in the USA on September 11, 2001 had nothing whatsoever to do with “terrorists from overseas” and I would suggest you learn about that day at:

      911Truth.org and WTC7.net

      • TheHolyCrow

        Yes, get a copy of “OPERATION TERROR”, directed by Paul Cross. That scenario depicted in the movie is much closer to reality than the “official government conspiracy theory”. Furthermore, unknown by most of the brainwashed sheeple, the ownership of the Towers was privatized 7 weeks prior. A head honcho of the Port Authority made sure that one of his co-religionists got the lease, despite the fact that the Towers were White Elephants and needed a $1 BILLION of asbestos remediation, not to mention that the aluminum sidind was reacting with the steel and getting ready to fall off, and all sorts of needed heating & cooling upgrades, all the while having many empty floors because the rents were too high and prospective tennants were Leary to rent there because of its history of terrorism. The City of NY was getting ready to condemn the buildings, but Lucky Larry was intent on owning them anyway. So during this 7 weeks, the Geletin Art Students had the run of the towers, wearing repelling gear and surrounding them selves with boxes of BB-18 fuse holders made by Littell Fuse, a company once owned by Halliburton, according to Rebecca Roth in her book, and in her taped interviews which are available on YouTube, last I looked. So yes, there are many many facts most people don’t know, and they go about their lives believing fairy tales and myths that were implanted in their heads by the traitorous complicit media.

  • braindiseasecalledliberalism

    Meredith Whitney has been saying this {about muni’s} for a VERY long time – and she’s right – just a bit premature. These pensions are so extremely underfunded – both public and private – that the sh#@ has to eventually hit the fan – it’s simply a fact of life.

    Not only have the ROI projections been unrealistic over the past 3 decades, but the money earmarked for these pensions, 401k’s, etc. have been used for issues other than what they were intended – to pay retirees!

    This has been a major (and never-spoken-of / taboo) issue, which is rapidly coming to fruition – and it will adversely affect tens of thousands of hard working Americans that will be vastly disappointed to say the least!

  • LIZ THE SHIZ

    and now you know why Jeff Bezos is the 2nd richest man in the world

    • socalbeachdude

      Only based n the preposterous valuation of Amazon.com stock and that is headed for a massive crash.

  • GSOB

    Let us behave decently,
    as in the daytime, …..

    not in carousing and drunkenness,
    not in sexual immorality and debauchery,
    not in dissension and jealousy.

    Instead,
    clothe yourselves with the Lord Jesus Christ
    and make no provision for the desires of the flesh.

    Do not love the world or anything in the world.
    If anyone loves the world, the love of the Father is not in him.
    For all that is in the world ….

    the desires of the flesh,
    the desires of the eyes,
    and the pride of life

    is not from the Father
    but from the world.
    The world is passing away along with its desires,
    but whoever does the will of God remains forever.…
    ______________________________________________

    Ephesians 2:3
    We all lived among them at one time in

    the cravings of our flesh,
    indulging its desires and thoughts.
    Like the rest,
    …….we were by nature children of wrath.

  • GSOB

    Hosea 14:2
    Take words with you and return to the LORD.
    Say to Him,
    “Take away all iniquity And receive us graciously,
    That we may present the fruit of our lips.”

  • Spatial Memory

    Best financial engineering money can buy inflection point. Jmho

  • littlebit43

    We have bombs ticking all around us. Let’s not forget student loans at 30% delinquency they would be charged off at any financial institution in the world. That would have any institution closing its doors. 1.3 trillion and climbing. That’s OK it is only taxpayer money.

    • socalbeachdude

      Student loans are held as an asset of the federal government and the obligation of the borrower to repay them goes with them to their grave as they cannot e discharged except in rare circumstances such as fraud by the school they attended for which they got the loan.

  • Mohawk77

    Michael, keyword missing from your headline MUNICIPAL (I.E. GOVT PENSIONS) are massively underfunded. The “Public Servants” are the most grossly overpaid and underworked (read-lazy) “class” of people in this nation. Repudiate the debt and extract any shortfalls from the owners of PRIVATE Central Bankers–by force. These leeches must be dealt with once and for all. Then cut ALL govt workers by 50% to start. Fed, State–Local. They then have a 401K pension–no more grotesque pensions. Maximum amount equal to average Social Security payments..retroactively. Did you hear me “Governor” Brown and “Mayor” Emanuel? These named retrobates will then be dealt with personally.

    Government is G & A–period—-reduce it to reflect such.

  • Carl

    Atlanta bridge – key note they said PVC conduit was stored under that section of the bridge. This releases less combustion heat than other plastics – hence contributes less to maintaining and spreading fire.

    So how did the pvc get so hot that is caused 300 feet of bridge to collapse?

    Or is the better question is why did they want 300 feet of bridge to collapse in Atlanta?

    • TheHolyCrow

      Perhaps the pipes were packed with thermite ? That stuff produces 4,500 degree Fahrenheit temperatures. Just like at the WTC assissted demolition on 911. Why ? I am sure there will be a few theories coming out soon. One website says to expect more, that this is just the beginning. And the electrical grid system will be attacked also. There are groups of people in the world who can’t get a hard on unless they are causing misery to the rest of us.

      • socalbeachdude

        The fire was caused by a CRACK PIPE.

    • socalbeachdude

      CRACK SMOKING COLLAPSE OF I-85 IN ATLANTA…

      Homeless man was ‘smoking crack under overpass when he started huge blaze’ that caused Atlanta interstate collapse and will mean traffic chaos for MONTHS

      Basil Eleby, 39, is accused of causing an overpass to collapse on Interstate 85 in Atlanta because of a fire he set on Thursday. He was allegedly high on crack cocaine at the time, according to an affidavit released on Saturday. Eleby has a rap sheet of several drug-related offenses and ‘maliciously set’ the blaze, officials said. He was handed an extra charge of first-degree arson on top of an earlier charge of first-degree criminal damage to property, by a Fulton County judge on Saturday. He was arrested along with Sophia Bruner and Barry Thomas on Friday. Bruner and Thomas were charged with criminal trespass.

      http://www.dailymail.co.uk/news/article-4372100/Man-high-crack-set-Atlanta-interstate-fire.html

      • billtheguy

        Wow! here comes the good life for the convicted transient. Help with his addiction, medical, dental vision, roof over his head, warm bed, 3 meals a day. All at a cost to the tax payers of $45-50K.

      • Carl

        Rumor has it that the fire department which is about 500 feet from the fire could not put it out at first because they had no water pressure to their hoses. Anyone else hear about this?

        I also find it hard to believe that a crack pipe caused this fire and the extent of the damage. Conduit/PVC does not burn like this.

        I have also seen pictures of how the stuff was put under the overpass and it was stored at key positions by support posts.

        Not to mention how did they catch the homeless crack smokers so quickly? Something is not right.

  • socalbeachdude

    Yep.

  • socalbeachdude

    U.S. public pensions may need to hike contribution rates as markets tumble

    The erosion of assets at U.S. public pension funds since last summer is raising concerns state and local governments will have to increase their contributions to the funds to make up for shortfalls, leaving less for public services.

    U.S. public pension funds count on returns of 7 percent to 8 percent a year to meet their liabilities, an ambitious target in a low interest rate environment.

    “The contributions have gone up very substantially and we are headed toward them going up more again, creating really politically difficult choices,” said Donald Boyd, a state and local government expert at the Nelson A. Rockefeller Institute in Albany.

    Two heavy bouts of selling in the last six months have hit assets. State and local pension funds saw their unfunded liabilities jump by $268 billion to a staggering $1.7 trillion from June to September, according to the latest data from the Federal Reserve. That unfunded liability amounts to 9.5 percent of the U.S. economy, according to Boyd.

    http://www.reuters.com/article/usa-pensions-idUSL2N1542AM

  • alan

    They will probably be bailed out some how by tax payers. Then when you retire you will move into one of your kids rooms. Lastly Putin will be blamed for it.

  • socalbeachdude

    People all across America aren’t even beginning to grasp that they’re going to have to live on a whole lot less money in the future than they have now and that asset prices are going to go plunging downwards including on their homes, in stocks, in commodities, in bonds and that their taxes are going to have to go up substantially. That is the simple reality as to where we are at now in America.

    In the face of that the whole country is in denial, and stocks have again risen along with housing prices to stratospheric prices along with so-called “consumer confidence” while earnings at companies that underpins stock valuations continues to fall.

    The political climate continues to become more and more bizarre will all sorts of endless attacks against Donald Trump – even on Fox News and in high ferocity on outlets like CNN and MessNBC and in news print like the WaPoo and the New York Slimes. The weekly wrap up shows were beyond appalling tonight in their coverage of the Trump Presidency and show like Madsow on MessNBC are soaring in popularity with people wanting more and more than the US government even while it reaches new depths of insolvency. To say that people “just don’t get it” is an extreme understatement and Americans are headed for the rudest shocks of their lives as the whole mess starts coming undone.

    Medical expense insurance will become totally unavailable withe present ObamaScare catastrophe in many parts of the country and already the number of insurers willing to participate in offering any coverage has dropped to zero in certain markets and that will spread to all markets.

    The trade with China situation is now getting worse as the value of the renminbi (RMB / yuan) drops against the US dollar as the Chinese economy totally implodes and the US is running a $500 billion trade deficit overall and $350 billion of that is with China. It is likely that little – if anything – will move in the right direct after Donald Trump’s meeting with Chinese Premier Xi next week at Mar-a-Lago and we’ll just see much more endless bickering with China as well as a continuation of push back against Supreme Court Justice Gorsuch by Democrats along with more inane Russian fear-mongering and false accusations against the Russians by both Democrats and Republicans alike.

  • socalbeachdude
  • socalbeachdude

    DRUDGE: PRESIDENT FOR 10 WEEKS! ‘GIVE HIM A BREAK’

    https://www.wsj.com/articles/donald-trump-racks-up-few-wins-so-far-1490997606

  • socalbeachdude

    DNC Perez Unleashed: ‘Trump Didn’t Win Election’ … Republicans ‘Don’t Give A S**t About People’…

    http://dailycaller.com/2017/03/31/perez-trump-didnt-win-the-election-republicans-dont-give-a-st-about-people-video/

  • socalbeachdude
  • socalbeachdude

    In a hurry, Donald? Bizarre moment Trump abruptly walks out of executive order signing ceremony WITHOUT signing the order – leaving an awkward-looking Mike Pence to pick up the pieces…

    President Donald Trump talked up two new executive orders on trade enforcement on Friday, but then he left the Oval Office without actually signing them.

    Footage of the apparent glitch showed Trump entering the room for the executive order announcement and subsequent photo opportunity that goes along with it. But after the President gave his short speech, he promptly walked out and left the orders sitting neatly on his desk. Vice president Mike Pence was filmed rushing after Trump and appeared to tell him he had forgotten to actually sign the orders. Trump, however, did not come back into the Oval Office, leaving his advisors standing awkwardly near his desk.

    Pence then went back to the President’s desk and collected them. The White House did not comment on Trump’s swift exit, although it did coincide with a reporter peppering him with questions about ex-national security adviser Michael Flynn. The disgraced former general this week sought immunity in exchange for testifying in the probe into the Trump administration’s ties to Russia.

    http://www.dailymail.co.uk/news/article-4369812/Trump-talks-orders-trade-neglects-sign-them.html

  • socalbeachdude

    REVEALED: Ivanka and Jared Kushner still benefit from $740million business empire while they work unpaid in Trump administration as White House releases eye-watering financial disclosure information on 180 top staffers

    Ivanka Trump and husband Jared Kushner are still benefiting from a $740 million business empire and sprawling real estate portfolio while they serve in their White House jobs. The revelations about the President’s son-in-law and daughter were part of a massive White House release of financial disclosure forms for more than 100 of its top administration officials. The financial disclosures – required by law to be made public – give a snapshot of the employees’ finances as they entered the White House. Trump’s chief strategist, Steve Bannon (bottom left), disclosed assets between $13 million and $56 million. Kellyanne Conway (bottom right) disclosed that she made over $800,000 last year from her consulting firm. She has assets worth between $10 million and as much as $39 million.

    http://www.dailymail.co.uk/news/article-4370058/Kushner-retains-scores-real-estate-holdings-WH.html

  • socalbeachdude

    Disgraced Mike Flynn, ‘Crazy Miss Cokehead’ and questions over their Russia links: How ‘worrisome’ meeting between sacked national security adviser and Cambridge graduate raised concern among US and British intelligence

    Svetlana Lokhova spoke with Michael Flynn at the Cambridge Intelligence Seminar, a gathering of former intelligence officials hosted at Cambridge University in 2014.

    Moscow-born Miss Lokhova showed the President’s former national security adviser a number of historic Russian documents – including an ‘erotic postcard’ that Joseph Stalin sent to a woman in 1912.

    It is claimed the two remained in email contact afterwards and swapped messages on an unclassified channel – Mr Flynn signed himself ‘General Misha’, Russian for Michael.

    http://www.dailymail.co.uk/news/article-4370168/Flynn-dismissal-linked-meeting-Cambridge-graduate.html

  • socalbeachdude

    No honeymoon for Trump as one in three voters say he deserves a grade of ‘F’ – and 70 per cent call his tweets ‘reckless’

    Trump gave himself an ‘A’ for his accomplishments last month, and a ‘C’ for communicating them. But more voters gave him an ‘F’ than any other letter grade in a new McClatchy-Marist poll.

    http://www.dailymail.co.uk/news/article-4368526/One-three-voters-say-Trump-deserves-grade-F.html

  • socalbeachdude

    Democrats edge closer to Senate filibuster of Trump’s Supreme Court pick Neil Gorsuch as more say they will vote him down

    Senate Democratic opposition to President Trump’s Supreme Court nominee is swelling, setting up a showdown with Republicans who have the votes to confirm Neil Gorsuch.

    http://www.dailymail.co.uk/news/article-4368598/Democratic-Supreme-Court-opposition-grows-Schumer-warns-GOP.html

  • socalbeachdude

    The looming budget disaster, in four charts

    The Congressional Budget Office in its 2017 Long-Term Budget Outlook issued a dire warning to D.C. policymakers about the likely consequences of continued inaction on the budget deficit.

    Thanks largely to the growing costs for programs like Medicare and Social Security, the federal debt will reach 150 percent of gross domestic product by 2047, the CBO projected, up from an expected 77 percent at the end of this year. CBO projections assume that federal policy stays the same and calculates outcomes based on the expected changes in other factors like health-care costs, interest rates, productivity growth and labor force participation.

    That 150 percent expected debt level is based on the most likely value for each of those variables. For example, as the Fed raises interest rates from historic lows, the existing debt will be more expensive to finance. Health-care costs are expected to continue to grow faster than inflation. If economic circumstances are worse than expected, public debt could balloon even faster.

    http://www.cnbc.com/2017/03/31/cboinfourcharts-fahey-170330-dc-.html

  • socalbeachdude

    Proof That Mr. Market Is Losing His Mind

    Before getting to the market in general, I want to question how much longer investors are going to pay attention to the self-serving financial engineering proposals of activist investors such as the one David Einhorn recently threw up against the wall at General Motors (GM). While GM stock, one of the most crowded hedge fund trades in the business, has been a disappointment to investors for years, it is not going to be fixed by financial engineering (and Mr. Einhorn’s proposal was immediately rejected because, among other things, it would have jeopardized the company’s credit rating).

    What ails GM ails the entire auto industry–overcapacity, intensifying competition, structural changes such as electric cars and driverless cars, consumer weakness and cost pressures.

    Activist investors who, with rare exceptions like Nelson Peltz, never managed anything more than stocks on a piece of paper, have little to offer complex business organizations, as they demonstrate repeatedly. It doesn’t take much intellect or imagination to tell a company to borrow more money to pay higher dividends or buy back stock; why such an investment strategy merits 2/20 fees is a mystery (or a testament to the gullibility of investors willing to pay them). The nominal returns produced by virtually all activist investors since the financial crisis are poor and their risk-adjusted returns are rotten. You have to wonder when investors and the media will wake up to the fact that activists add little value.

    https://www.forbes.com/sites/michaellewitt/2017/03/31/proof-that-mr-market-is-losing-his-mind/#1050501f5c7a

  • JC Teecher

    “A Ticking Time Bomb”….?????

    I have to pose this question for anyone that is really concerned about what Michael is trying to get across; “WHAT IF”?

    What if the timing was so close that one would actually have the guts/faith/hindsight/audacity or even the mind to do something that would have been unheard of ten or twenty years ago?

    What if a person could, by some means, cash out their pension/investment/retirement, without caution as to a loss of a large portion of that fund?

    If there ever was a reason, and know this, I am not proposing or even suggesting that people should follow my cue, but; suppose the reason to even consider such a move, would be because there was a “possible” date attached for a coming collapse of the financial system?

    Well, folks, I have a date I want to share for those in this position to ponder on, and possibly consider. I did not pull this date out of thin air, nor do I believe that someone else has, but I believe it is highly possible that it just may be right this time. Like I told a friend of mine sometime back; “a portion of life savings in ones hand or invested in long term food storage/preps, is better than a piece of paper saying you have five times as much sitting in a locked vault that you can’t get to, when the shtf.”

    • JC Teecher

      The date I am sharing is something that has been on my mind for decades now, but have had mixed feelings about. It has come to light for a purpose, I do believe, but I can’t say that it comes directly from God.

      The date comes from predictions made nearly 500 years ago by the notorious Nostradamus and, a Belgian engineer that retired and moved to Las Vegas.
      Exactly 500 years after the birth of Nostradamus, 1503, as he predicted, a man would come forth and make the calculations to reveal to the world, of the coming events.
      In 2003, Benoit, broke the mathematical date code, which reveals many of the events Nostradamus predicted, did actually happen when he said they would.

      What “may” be relevant to America is the prediction that a financial collapse, that will eliminate most of the wealth of Americans, will take place in 2018/2019.

      The other thing that makes perfect sense, when aligning the plans of the NWO globalists, is that soon after this period, a change for religious practices begins to form, whereby Christianity practiced by the Roman Catholic church, would be eliminated, and a new “one world” religion would take it’s place.

      I don’t know if God has His Hands on these prophecies, or if they will come to fruition, but; it sure seems like too much of a coincidence not to take a serious look into …..”What If”?

    • FirstGarden

      Deuteronomy.
      Deu-ter-on-o-my.
      Dude you’re on to me.

  • Daffy Duck

    We hear this about the Social Security fund that it is broke, about to go under. Yet, we also know the Social Security fund is worth a hundred trillion dollars and earns the Queen of England four trillion dollars a year? Look, how much have these funds been looted by the xhosen ones and their minions, by the King and his court, by the po0liticians and judges playing the game of trash and grab? How much has the Vatican or the Queen ‘earned’ from these thousands of pension funds? It must be nice to ‘earn’ extreme wealth just by breathing air and pissing in a toilet. Stupid people, how much is too much? There are a few thousand of them yet we allow them to destroy our lives as they please and just so they can play the game of -I have more than you do.

    • socalbeachdude

      The Social Security and Medicare Trust funds combined have a total value of around $5.5 trillion and nearly all of those funds have been invested – as required by law – in US Treasuries (federal government debt).

      • Spatial Memory

        Put your head back in the sand. ROFL

        • socalbeachdude

          What I stated is, of course, 100% correct.

  • Patriot Alice

    Most of those huge pensions were approved by themselves for themselves, not the general tax payers of America. Incredible pensions by the entitled, everybody owes them everything..

  • Silver Savior

    I am putting a lot of my retirement into silver and gold. I want to actually have something of value.

    • socalbeachdude

      My sympathies for your substantial coming losses.

      • mtntrek3

        What do you suggest? ……. Asking.

        • Zenithon

          Since he won’t answer, I’ll throw in my two cents. First, think about what you would need if all the stores were closed for an extended period of time, then buy and store them. I would get at least a couple of months worth. Also, make sure that includes home defense items. It also wouldn’t be a bad idea to have an extra something to barter with. Something that people will want badly and trade for when the stores are all closed. You have to decide how much you need and for how long you will need it. You can go nuts here and blow a lot of cash, so don’t overlook it, but I wouldn’t go for trying to store up for multiple years of stuff. If it comes to that, there’s no telling what will happen and how to get through it.

          Second, and right up there with the first, get out of debt. Who knows, when the system fails there might be some kind of debt forgiveness reset that goes down and you will have missed out, but that’s a long shot. It’s far more likely that if you are entrenched in debt, those assets won’t be yours for long if you have trouble making the payments. Also, the lack of debt will relieve some of the burden of getting by.

          Third, invest in a variety of assets. That’s gold, silver, have some cash on hand, income property, mutual funds, stocks, bonds, etc. At some point some of this stuff will most likely be worth something. How you go about this part depends on your personal assets and beliefs in what will be of value when the economy falters, but diversity is the key. If you put all your eggs in one basket and the bottom falls out of that basket, you’ll just be left with a mess.

          To reiterate, If you are out of debt, have supplies on hand, & have assets paid for that you can just sit on or tap into as needed, you will have a pretty good shot at getting through an economic disaster, although that depends on how bad it all really goes down, but at least you’ll have set up yourself and your family to be in a pretty good position for it. You should also be able to help some others along the way. Lastly, but really first and foremost, we should all pay attention to our spiritual life. Jesus is the way the truth and the life. We must all never forget that.

          • Spatial Memory

            Barber Coins. My$0.02

          • socalbeachdude

            The Barber coinage consisted of a dime, quarter, and half dollar designed by United States Bureau of the Mint Chief Engraver Charles E. Barber. They were minted between 1892 and 1916, though no half dollars were struck in the final year of the series.

          • Spatial Memory

            Nobody said the quarters – except key dates – cause they get too slick from the high relief. Standing Liberty quarters better. Jmho

            Now what? Cut and paste Standing Liberty quarter trivia?

            Add them to your repertoire and help some people. ROFL

          • socalbeachdude

            Stores are not going to be closed at all except for those failing financially and that is relatively limited. About 3500 stores are being shuttered over the coming 2 months but the US retail market is vastly overretailed and needs to contract by at least 50% in terms of the number of stores just to get back to a normal level.

          • Zenithon

            You don’t have any better clue about what will happen than the next guy. Stores have closed and/or the shelves have been emptied for all kinds of reasons in the past and will again in the future. Reasons including but are not limited to, natural disaster, economic disaster, civil unrest, and war.

            All I am saying is that it would be prudent to have some things on hand to help get past a disruption in readily available supplies, but you can’t even help yourself from arguing with that. You should try listening more and blabbing less. Believe it or not, you don’t have all the answers.

          • mtntrek3

            Thanks Zenithon. …… Yep, we’ve put back food, water filters, batteries, hygiene/first aid items , matches, lighters, ammo for the guns, silver, etc., etc. . We’ve had these things put back for some time. And yes, Christ is the most important thing as Michael has said. Take care and God Bless. 🙂 Chris.

        • socalbeachdude

          Cash is king and the US dollar is the king of kings.

          • Mark

            LOLOLOLOLOLOLOL!!!!

          • Spatial Memory

            Silver only up 17.96% trailing 12 months while most of your predictions are minus 100%. ROFL

          • socalbeachdude

            Silver has plummeted nearly 70% since its manic high of $50 per ounce on September 5, 2011 and is only around $17 per ounce, and it is also down about 70% from its manic high of $50 per ounce first reached 37 years ago in January 1980. There is a vast excess of silver in the markets and it is headed to its mean of $8 per ounce and then lower.

            The US dollar is up about 140% over the the past 5 years in its purchasing value against silver which has plummeted about 70% today from its manic speculative high of $50 per ounce on September 5, 2011 (not to mention that silver also his that price 37 years ago all the way back in January 1980!).

          • Spatial Memory

            Meanwhile silver is 17.96% higher than last year and your GUESSWORK and predictions have been PROVEN ABSOLUTELY HORRENDOUS.

          • socalbeachdude

            The 37 year return on silver from its January 1980 high of $50 per ounce is now around a NEGATIVE 70%. Adjusted for inflation the return is now down 100%.

          • mtntrek3

            For now……. .

          • socalbeachdude

            For the foreseeable future!

          • mtntrek3

            One day in the near future, even gold/silver will become worthless according to the Bible. It will be thrown into the streets.

      • Silver Savior

        But it’s the paper assets that will be worth nothing so I am very excited to invest in what I do.

        • socalbeachdude

          Laughably false.

          • Silver Savior

            How is it false. Debt of all kinds is going vertical on every chart. And currency keeps being created. I don’t know how you can’t put two and two together.
            It spells collapse.

          • socalbeachdude

            No, it doesn’t spell collapse of the US dollar at all, and in fact, the value of the US dollar will increase very substantially as prices in the economy including nearly all commodities continue to fall. The total US money supply as measured by the broadest M2 measure is only about $13.5 trillion to support the $18 trillion US economy and more than $92 trillion in current US household asset values.

          • Silver Savior

            That’s nice but I am forecasting hyper inflation very soon. All that international money will find its way home.

    • muldoon55 .

      Zephaniah 1:18 Neither their silver nor their gold will be able to save them in the day of Jehovah’s fury;For by the fire of his zeal the whole earth will be consumed,Because he will make an extermination, indeed a terrible one, of all the inhabitants of the earth

      • Silver Savior

        Yeah but that is when the big one hits in a few hundred years. I am just talking about the next 2008 style bank collapse.

  • Spatial Memory

    First NEGATIVE close on monthly SPX chart since October.

    • socalbeachdude

      Lot more of that to come!

  • none

    Slept for ten hours, then had to fight myself to go to the bathroom. With only a three inch matress!
    Rather than replace an aging matress add a foam topper. And put board slates under the matress.
    Have a superior nights sleep, and save 500+ on top.

  • socalbeachdude

    What on earth does any of that have to do with the PENSION CRISIS that is the topic of this article or anything else in the USA?

    • Spatial Memory

      Both misinterpretations of the quatrains of Michel de Nostadme and the quack economic misconceptions of similar named wannabe have had disastrous results?

      • socalbeachdude

        What utter nonsense. I would suggest you learn about the history of the US financial markets and attempt to get a clue.

  • socalbeachdude

    Yes, that’s downtown Atlanta.

  • Zenithon

    Not to worry, not to worry. The federal government is waiting in the wings for an opportunity to help them all out by taking the remaining assets in these pension funds, and then they will gladly pay the pensions out with freshly printed greenbacks. Everyone will be OK. Move along now, nothing here to see. All is well. All is well.

    • mtntrek3

      Will this be QE3, or four….. maybe five? More Bernanke, or I should say Yellen bucks. : / .

      • JC Teecher

        Quantitative Easing won’t work this time because it will go global, when the dam breaks. The financial tsunami will overtake all markets, and banking systems.

        There is no simple solution as there has been in the past. The mtns. of debt and hedging is astronomical. When the sharper financial minds say that the unfunded and (unsustainable) under reported, pension liabilities, exceed 6 trillion dollars, then the wave of deception can’t be hidden much longer.

        When the 6 trillion dollar tsunami comes crashing down, It will bring down the Wall Street “House of Cards”, in all sectors, and indexes.
        Across the world people have been putting their faith into a system created by corrupt men, and that system will fail them.

        Taking ones reverence away from a loving Heavenly Father, and putting it into ones self, and men’s faux system of financial gain, based on hype and delusion, will come to an end.

        Those that have been worshiping the almighty dollar instead of their Almighty Creator, will get hit the hardest.
        Why? Because; most of those people have been sold a lie that God wants them to prosper with cash, and goods.

        God does want His own to prosper, but first and foremost by His truth, and and then, and only then will He provide their every need.

        • mtntrek3

          Well said. I’ve read that our actual debt public and private is more like 70-110 trillion in this country……. upwards to 200+ trillion worldwide. It’s a wonder that our collective economies haven’t collapsed already. Sadly, it’s just a matter of time……….

          • socalbeachdude

            Total outstanding debt in the USA is now just slightly over $67 trillion and is right around $220 trillion globally. However, global assets are well about $500 billion with $100 trillion to $180 trillion of those global assets in the USA.

      • socalbeachdude

        All of the Federal Reserve QE funds created by the Federal Reserve ALWAYS REMAINED INSIDE THE FEDERAL RESERVE and were used by the Federal Reserve to purchase existing securities from member banks in exchange for cash deposited to their reserves accounts inside the Federal Reserve where those funds have always remained. Not a penny of those funds was ever spent on anything, but were rather simply used in an asset shifting program in order to create a huge pool of liquidity for member banks to weather the coming liquidity crunches.

        • Spatial Memory

          Another of you LUDICROUS HOMESPUN GUESSWORK. Put your head back in the sand. ROFL

          • socalbeachdude

            Why keep exposing your delusional and laughably cluelessness as you always do?

            THE PURPOSES OF THE FEDERAL RESERVE’S QE

            There were 3 reasons for the Federal Reserve version of QE.

            First, it was essentially a charade to make it look like the Federal Reserve was doing all it could to “stimulate” the economy and provide a “wealth effect” to try to lift economic activity and asset prices.

            Second, and much more important in reality, the primary purpose of QE was TO CREATE A LARGE LIQUIDITY POOL OF EXCESS RESERVES OWNED BY THE BANKS AT THE FEDERAL RESERVE so that the banks would not have to sell off assets such as securities at fire sale prices in the next financial crises, panics, and shocks but rather could turn to that liquidity pool at the Federal Reserve to clear transactions, particularly from bad derivatives plays.

            Third, QE lowered the government interest on its massive then $19.5 trillion debt because the Federal Reserve increased its holdings of US Treasuries to around $2.5 trillion making the interest on those ESSENTIALLY FREE to the US government because the Federal Reserve operates as a NOT-FOR-PROFIT entity and rebates 100% of its annual profits each year to the US Treasury after paying a modest 6% annual dividend to its member bank shareholders.

            That mission has now been fully accomplished with a LIQUIDITY POOL OF $2.5+ TRILLION in the excess reserves of the banks at the Federal Reserve which will act as a cushion in the next series of crises. Which, I might add, are now HERE and rapidly worsening.

          • Spatial Memory

            As 100% CORRECTLY started, your mypoic misconceptions and HOMESPUN INACCURATE GUESSWORK of monetary policy measures and open market ops are LUDICROUS. Laughing to the banks while your NONSENSICAL GUESSWORK continues with HORRENDOUS market results. Sorry for your losses.

          • socalbeachdude

            The Federal Reserve versions of QE were a series of 3 programs during which the Federal Reserve expanded the MONETARY BASE – but not the money supply – through ASSET SHIFTING TRANSFERS with member banks by purchasing EXISTING SECURITIES consisting of MBS instruments and US Treasuries from those member banks in exchange for depositing the proceeds in the excess reserves accounts of those banks inside the Federal Reserve with NOT A SINGLE PENNY OF THOSE FUNDS EVER LEAVING THE FEDERAL RESERVE.

            Those QE programs totally ended on October 31, 2014 and the Federal Reserve has no interest in continuing with any further QE as they have clearly stated.

            Replacing matured securities with new securities is NOT QE in any sense of the word at all and where you come up with the totally false and utterly bogus notion that it is QE is really beyond mind boggling.

            That entire increase of securities owned by the Federal Reserve came from the 3 Federal Reserve QE programs between 2008 and October 31, 2014 when the Federal Reserve totally ended its versions of QE.

            All Federal Reserve QE transactions were strictly ASSET TRANSFERS FOR BOOK VALUE with the proceeds deposited into the excess reserves accounts of those banks who sold securities inside the Federal Reserve. What kind of a silly question is that? What is so difficult for you to comprehend about the simple facts regarding the QE funds?

            All that was done was to SUBSTITUTE SECURITIES FOR CASH and nothing more and that did not increase the amount of assets at banks by a single penny. All it did was to pour the same Kool-Aid from one pitcher into another.

            All of the Federal Reserve QE funds were deposited into the EXCESS RESERVES ACCOUNTS of the banks inside the Federal Reserve who sold existing securities to the Federal Reserve. There was never $4.5 trillion. That is the total amount of the Federal Reserve balance sheet which started out in 2008 with a $1 trillion balance.

            The total amount of QE funds is around $3.5 trillion. Nobody “got richer” at all. The banks merely sold EXISTING SECURITIES TO THE FEDERAL RESERVE FOR NO NET GAIN AT ALL and the proceeds were deposited into the excess reserves accounts of those banks inside the Federal Reserve.

            FEDERAL RESERVE VERSION OF QE EXPLAINED:

            1) Federal Reserve buys securities from banks

            2) Federal Reserve deposits cash proceeds in excess reserves accounts of those banks at the Federal Reserve

            3) Securities stay parked on assets side of Federal Reserve GL

            4) Proceeds funds stay parked on liabilities side of Federal Reserve GL in the excess reserves accounts of the banks at the Federal Reserve

            The process is an ENTIRELY CLOSED LOOP just as if it were done inside a VACUUM.

            http://www.federalreserve.gov/releases/h8/current/

            http://www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm

            There is no “currency bubble” at all and the US money supply has only $3 trillion in M1, $12 trillion in M2, and $13.6 trillion in MZM.

            The QE funds are sitting parked in the required and excess reserves accounts of the banks and none of them ever got into the economy at all as is clearly established by the evidence on that matter. The total amounts in those excess reserves accounts now exceeds $2.5 trillion with the balance of QE funds in their required reserves accounts inside the Federal Reserve which is shown in the current H.6 reports:

            Money Stock Measures – H.6

            http://www.federalreserve.gov/releases/h6/

          • Spatial Memory

            Again your ludicrous guesswork and myopic hunches of monetary policy measures and open market operations effects are a HILARIOUS blend of homeschooling curriculum misconceptions and manic attempts at constructive deception via links. Kind of creepy – especially combined with the ABSOLUTE DISASTROUS predictions. Jmho

          • socalbeachdude

            I see you are still in total denial as to the actual facts related to the 3 Federal Reserve versions of QE which, by the way, totally ended on October 31, 2014 which is now about 2 1/2 years ago! Sad.

    • socalbeachdude

      Nope, and the federal government cannot and does not ever print any money at all. The only backstop for pensions is the PBGC which is TOTALLY INSOLVENT at this stage with liabilities double that of its assets.

  • mtntrek3

    …….. Our world is failing. Prep as you can for the needs of this world. The world as we know it has little time left. Very dangerous times ahead. Please look to Christ most importantly. He’s the Way, the Truth and the Life. Jesus is the Way to the Father. Saying this always in love, Chris.

  • JC Teecher

    Why is the economic and financial crash coming on Americans?

    Look around and I am sure you can find someone, usually more than one, and mostly a majority, that live for more money and more material wealth. Usually that coincides with a liberal mind set; that has no problem with abortion and gay marriage in a Nation that was founded upon Christian/Biblical principles. Sadly this mentality/ideology, has become rampant among most churches and religions.

    Just this week, I was reminded of just how such evil ideology has taken center stage over doing, and living justly. We have, as past friends, a family that we came to know about 12 years ago, through a job and fairly large church where one of the friends worked.
    I know a man that married into the family, from back in the 70’s, and that has been another connection into this family.
    The older mother and father, of the three children, are good Christian people. The father died about 3 years ago. Momma is still living but 87 years old, and at the heart of this situation. Her grandmother was a socialite in the Roaring Twenties, and at one time was married to the co-founder of the 3M Corp. She put $10 k in 3M stock, in those early days, and never had to draw on it, and left it as a Trust for all medical needs of her daughters, grandchildren, and great grandchildren of which there are only three left, and these are the ones we know well, but no longer consider friends. Because of their worldly self-worshiping ways, they have turned their back on their average friends, and God, and only see themselves as aligning and befriending well to do folks. Even leaving their church to run with party people.

    At the core of their change in attitude and way of life is the known fact that as soon as the Momma dies, they will split her estate and the remaining balance of the Trust fund, that has grown back to over 10 million dollars (nearly 12), since the surge in the markets. It sank to about 4 million during the ‘08/’09 correction/crash.
    As we think the world of the 87 year old Momma, we stop by every now and then to visit. She and I were outside observing the Landscapers and casually chatting, while the wife was inside talking with the youngest daughter, and her husband that I have known for decades. They are all in their 50’s, as I am older.
    Anyways; the daughter blurted out that she wishes that her mother had died when her Daddy did about 3 years ago, since she “really has nothing left to live for”.
    This is the epitome of someone that only has love for herself and $$. If her husband became a liability in her life, instead of a money maker, with a 40 year pension, then she would probably begin to feel the same way about him. Sad.
    Many people in the world today are becoming more and more lovers of self and money and things.

    There must come a shaking and correcting. We sit and look at some of our fair weather friends that have large amounts of $$ and assets, and see the charity that comes from them. There is virtually none that comes from them as they only want more for themselves.
    I believe God is fed up with these self centered peoples and the “great shaking” that is soon coming, will relieve them of the majority of their stumbling blocks called wealth. Without their mini gods of stuff and huge investment accounts, they may just return to their Creator for their needs and love.

    • socalbeachdude

      Economic and financial crashes are happening globally – not just in America – and are all a result of massive and reckless CREDIT BUBBLES which have been blown throughout the world and which are now inevitably collapsing as they always do.

  • Screaming Pomegranate

    I have two words for the savvy investor: meth futures.

    • JC Teecher

      …Which is to say…death futures.

    • Spatial Memory

      NEVER trade futures based upon auditory hallucinations from pomegranates. Jmho

  • tacoma

    Pension problem? No jobs? Up to eyeballs in debt? And most devastating, can’t buy the latest iPhone to replace the one bought last year?

    There is a perfect solution: join the Military.

    The Military always get fully funded. They always get more money. The grand American military empire gets a cool $1 trillion every year to run its own show, outside of political control. They have ‘offices’ in every corner of the world, whether countries like it or not. They have the most amazing weapon systems, the best toys of war and blood.

    Join them. You will be well-paid, you will get military pension at 55 or something, guaranteed for life. You get fine health coverage. And you can still get an easy part-time job while collecting these amazing benefits.

    It is the best thing outside of American capitalism.

    • socalbeachdude

      Military spending in the US is only about 16% of the federal budget of $4 trillion. An additional 4% is spent on Veterans Benefits for a total of about 20% spent on military which is one of the only things that the federal government is mandated to do by the US Constitution.

    • socalbeachdude

      Actually, the best thing outside of American capitalism is federal/state WELFARE…

      WANT TO INSTANTLY BECOME A TOP 20%er?

      The Average US Welfare Payment Puts You In The Top 20% Of All Income Earners

      http://www.forbes.com/sites/timworstall/2015/05/04/the-average-us-welfare-payment-puts-you-in-the-top-20-of-all-income-earners/

    • JC Teecher

      It’s that “guaranteed for life” part that is showing forth in our VA Medical Systems, as the lottery for all those sitting in high positions, while the guaranteed medical is shoved under the bed pans of the wounded veterans.

      • socalbeachdude

        The Veterans Administration medical system is called “TRI-CARE.”

  • socalbeachdude

    LA Times Confirms President Trump is Doing a Wonderful and Very Rapid Job of Making America Great Again!

    LA TIMES HAS TRUMP PANIC ATTACK: WHEN WILL THIS END!

    http://www.latimes.com/opinion/editorials/la-ed-trump-overview-20170402-story.html

  • socalbeachdude

    Rich countries have a $78 trillion pension problem

    Dreams of lengthy cruises and beach life may be just that, with 20 of the world’s biggest countries facing a pension shortfall worth $78 trillion, Citi said in a report sent on Wednesday.

    “Social security systems, national pension plans, private sector pensions, and individual retirement accounts are unfunded or underfunded across the globe,” pensions and insurance analysts at the bank said in the report.

    “Government services, corporate profits, or retirement benefits themselves will have to be reduced to make any part of the system work. This poses an enormous challenge to employers, employees, and policymakers all over the world.”

    http://www.cnbc.com/2016/03/16/rich-countries-have-a-78-trillion-pension-problem.html

    • Spatial Memory

      Diffeomorphic velocity of money “problem” = opportunities to gain alpha trading pojective harmonic conjunctions as bulge bracket omniscients try and ” manage / untwist” real natural rates while aligning projected natural rates and projected output gap. Jmho

      • socalbeachdude

        And just what does that laughably meaningless mumbo jumbo jibber jabber have to do with the fact that pension funds around the world are short at least $78 trillion smackers to pay retiree benefits?

        • Spatial Memory

          projective geometry, the harmonic conjugate point of an ordered triple of points on the real projective line is defined by the following construction:

          Given three collinear points A, B, C, let L be a point not lying on their join and let any line through C meet LA, LB at M, N respectively. If AN and BM meet at K, and LK meets AB at D, then D is called the harmonic conjugate of C with respect to A, B.[1]
          The point D does not depend on what point L is taken initially, nor upon what line through C is used to find M and N. This fact follows from Desargues theorem; it can also be defined in terms of the cross-ratio as (A, B; C, D)

          • socalbeachdude

            You’ve just a dug a hole for yourself more than halfway through to China! Or in your case, from China to the USA!!!

  • JC Teecher

    I-85 runs through the center of Downtown/Uptown, North and south. I-75 runs with it part way.
    No trucks are allowed without a predetermined appointment off the I-85 within the beltway.

    I got on it twice when my southern beltway route was blocked due to wreckage, on my way to Houston with a tight deadline schedule. Luckily it was during the wee wee hours of the morning, and no coppers were lurking, or at least not that cared that I was possibly illegal.
    I could have gotten a big fine for the decisions, but what the heck, I gambled with speeding all the time, and had a few speeding tickets over my million highway miles (accident free) of OTR driving.

    • socalbeachdude

      Speed KILLS.

  • socalbeachdude

    Final piece of pension disaster puzzle in new savings data

    What was initially a slow breakdown in America’s pension system is now a speeding train wreck, one that has become a risk to more than just pension holders. New statistics on Americans’ saving habits are adding a new dimension to an already massive economic threat.

    Traditionally, retirees have viewed pension programs as something they can count on 100%, no questions asked. For decades, pensions — both public and private — have always found a way to make good on their promises. But those days are long gone, and the conditions for pension programs in the U.S. are deteriorating quickly.

    It looks as if America’s retirees and soon-to-be retirees are far less equipped to weather a future economic storm than we previously thought.

    http://www.birchgold.com/news/final-piece-of-pension-disaster-puzzle?msid=94970&utm_source=Birch+Gold+Group+Market+Update&utm_campaign=b1246da547-market_update_email_040117&utm_medium=email&utm_term=0_f225c8b1ba-b1246da547-74213181&goal=0_f225c8b1ba-b1246da547-74213181

  • socalbeachdude

    The average American dies $62,000 in debt and 73% of all US citizens owe money when they die

    Most Americans are dying in debt – and on average owe tens of thousands of dollars, according to data released by credit company Experian.

    http://www.dailymail.co.uk/news/article-4340506/Most-Americans-die-debt-owe-average-62-000.html

  • socalbeachdude

    Q1: Sure Bets That Weren’t – Doug Noland

    An intriguing first quarter. The year began with bullish exuberance for the Trump policy agenda. With the GOP finally in control of Washington, there was now little in the way of healthcare reform, tax cuts/reform, infrastructure spending and a full-court press against regulation. As Q1 drew to a close, by most accounts our new Executive Branch is a mess – the old Washington swamp as stinky a morass as ever. And, in spite of it all, the global bull market marched on undeterred. Everyone’s still dancing. From my perspective, there’s confirmation that the risk market rally has been more about rampant global liquidity excess and speculative Market Dynamics than prospects for U.S. policy change.

    It’s not as if market developments unfolded as anticipated. Key “Trump trades” stumbled – longs and shorts across various markets. The overly Crowded king dollar faltered, with the Dollar Index down 2.0% during Q1. The Mexican peso reversed course and ended the quarter up 10.6% versus the dollar, at the top of the global currency leaderboard. The Japanese yen – another popular short and a key funding instrument for global carry trades – jumped 5% . China’s renminbi gained 0.84% versus the dollar. WSJ headline: “A Soaring Dollar and Falling Yuan: The Sure Bets That Weren’t”

    Shorting Treasuries was another Trump Trade Sure Bet That Wasn’t. And while 10-year yields jumped to a high of 2.63% on March 13, yields ended the quarter down six bps from yearend to 2.39%. Despite a less dovish Fed, a hike pushed forward to March, and even talk of shrinking the Federal Reserve’s balance sheet – bond yields were notably sticky. Corporate debt enjoyed a solid quarter. Investment grade bonds (LQD) gained 1.2% during the quarter, with high-yield (HYG) returning 2.3%.

    http://creditbubblebulletin.blogspot.com/2017/04/weekly-commentary-q1-sure-bets-that.html

    • Spatial Memory

      Congratulations. That comment does show some good character. The article CLEARLY PROVES nearly every prediction you’ve made has been INACCURATE to down right DISASTROUS.

      Fortunately you didn’t try them with REAL WORLD money!

      ROFL

      • socalbeachdude

        Laughably false. That comment simply shows how UTTERLY IRRATIONAL the markets were in the US and globally in the Q1 period!

        • Spatial Memory

          MARKETS and price action are REALITY. Your UTTERLY IRRATIONAL GUESSWORK continues to be PROVEN Laughably false – read the article. ROFL

          • socalbeachdude

            I’ll be sure to save your amazing quote and put it up with your attribution as the stock markets go crashing 50% to 80%!

  • DB200

    Well written article, Michael!

  • Bruce

    Way, way too many people are missing the whole point. The real issue has eluded them in a big way. One can argue all day about cash being best, or gold or silver. One can swear the best thing to do is this or that. Let me make one thing perfectly clear. If the dollar collapses, we have an economic explosion, 401K’s implode, all pensions are lost etc. If ANY of these things happen it will be total and utter chaos on the streets.
    It will not be safe to be on the streets to use your gold or silver. Fuel will not be available in which to go use your metals. ALL stores will close! All commodities will be gone. A major explosion in the markets, dollar collapse, retirement programs up in smoke, these things will usher in a whole new way of life called, survival.
    The whole world is in turmoil and some think they will just go down to the local market and use their metal coins to buy whatever they want. Do you not realize that venturing out will be a huge gamble. There won’t be any police to protect you. The carnage that will ensue after the fact would make them on a suicide mission just to answer a call.
    I read these articles about what is mostly likely to happen and I agree with most of them yet they don’t really talk about the aftermath! Some seem to think that the masses who are still in the cities will just stay in the cities. Oh! how smart you feel to have left before hand. Only to discover they have come right behind you. Unless you go to the moon or some extremely remote, rugged hell hole out in the middle of no where then they will be at your door.
    Putting too much emphasis on trying to figure out which calamity will come first or when is a futile effort. There are MANY things that can cause the whole thing to go up in smoke. If NASA said that one hundred asteroids are headed straight to earth why would you worry about which one in particular was going to hit you.
    Defense, water, food and shelter (in that order) should be your primary concern!

  • littlebit43

    They don’t like people like me. I am still sleeping on the same mattress I slept on when I got married. In 1968.

  • Surrounded by Weak Minds

    Holy sh@t! We’re all gonna die!

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