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The French Pension War
The French Pension War When a million people protest on the streets of Paris and most major French cities, you know there is a serious problem in French society… The protests, which had been going on for four days, culminated on Feb. 11 in Paris, where reportedly half a million people participated. The vitriol directed […]
Bank Of Ireland Is Now Imposing Negative Rates On Cash Held In Pensions
Bank Of Ireland Is Now Imposing Negative Rates On Cash Held In Pensions If you’re holding your pension with the Bank of Ireland, you are now officially being charged to do so. In a move that we’re sure is going to have absolutely no consequences, the bank is starting to impose negative interest rates on cash held […]
Angry French Pensioners Cut Power To Central Bank, Hint At More To Come
Angry French Pensioners Cut Power To Central Bank, Hint At More To Come France’s trade unions on Wednesday defended a series of illegal power cuts to 150,000 homes, thousands of companies and the Bank of France in an effort to force the Macron government to quash its wide-ranging pension reform, according to Reuters. The power cuts, illegal under […]
The Fed Detests Free Markets
The Fed Detests Free Markets To be completely honest, I wrote -most of- the second part of this a while ago, and then I was thinking this first part should be part of the second, if you can still follow me. But it doesn’t really, it’s fine. I wanted to write something to address how […]
Assange, Nitrogen, Pensions, Solomon
Assange, Nitrogen, Pensions, Solomon I’m getting pissed off about multiple things right now, too many to make them all separate essays. Let’s give it a combined shot: In Holland, the talk of the town is nitrogen emissions. I’d never seen it raised as that kind of problem, but there you go. The government last week […]
Illinois’ financial decay spreads to cities across the state
Illinois’ financial decay spreads to cities across the state Illinois’ finances aren’t just decaying at the top, they’re falling apart everywhere. The state’s one-size-fits-all pension laws and overly generous benefits have left many cities suffocating under impossible pension debts as their populations shrink, tax burdens jump and resident incomes stagnate. Without an amendment to the Illinois Constitution’s pension protection clause – and subsequent pension reforms – […]
The $6 Trillion Pension Bailout Is Coming
The $6 Trillion Pension Bailout Is Coming Fiscal responsibility is dead. This past week, Trump announced he had reached an agreement with Congress to pass a continuing resolution which will suspend the debt ceiling until July 2021. The good news is that it will ONLY increase spending by just $320 billion. What a bargain, right? […]
We’ve Arrived At The End Of The Road
We’ve Arrived At The End Of The Road Decades of central bank intervention have left us with an unavoidable insolvency crisis When Richard Nixon closed the gold window in August 1971, fully severing the US dollar from its gold standard, the Federal Reserve and other world central banks found themselves liberated. No longer was their […]
What Went Wrong With Pensions — And Why The Whole World Should Be Worried
What Went Wrong With Pensions — And Why The Whole World Should Be Worried The past decade was a uniquely smooth stretch of financial highway. Pretty much every major asset class – stocks, bonds, real estate, fine art, you name it – did well, making it hard for conventional investors to lose money and easy […]
Ted Siedle: The Greatest Retirement Crisis In The History Of The World
Ted Siedle: The Greatest Retirement Crisis In The History Of The World The pension crisis is even worse than we imagine. “We are on the precipice of the greatest retirement crisis in the history of the world. And that makes perfect sense because, first of all, we have the largest elderly population in the history […]
We’re Reaching the Beginning of the End of the Pension Fund Crisis
We’re Reaching the Beginning of the End of the Pension Fund Crisis Photo by Bank of England | CC BY | Photoshopped from original The pension crisis has been escalating for quite some time, and accounting for pension shortfalls seems next to impossible for state governments. The shortfall between pension assets and liabilities is a major […]
How The Federal Reserve Quietly Bankrupted The US Pension System
How The Federal Reserve Quietly Bankrupted The US Pension System Actions have consequences. Even for the Fed. That’s not a reference to the market’s grumpy reaction to the central bank’s continued rate hikes and quantitative tightening. No. The impact of both on financial assets were as obvious as they were inexorable. To be sure, Wall […]
Three Things That Will Definitely Happen In 2019
Three Things That Will Definitely Happen In 2019 Much about 2019 is uncertain. But a few things are pretty much guaranteed, including the following: Government debt will rise at an accelerating rate Like a life-long dieter who finally gives up and decides to eat himself to death, the US is now committed to trillion-dollar deficits […]
2018 in Review: Pension Problems, Hawkish Rate Hikes, and Piles of Debt
2018 in Review: Pension Problems, Hawkish Rate Hikes, and Piles of Debt A lot happened in 2018, and while it would be a challenge to cover them all, there are three big trends that appear to have defined this year economically. And, each of them had an impact on retirees, investors, and the overall U.S. […]
Outlaw Government Pensions? The Hunt for Endless Taxes
Outlaw Government Pensions? The Hunt for Endless Taxes The commentary that has appeared in Forbes calls for the only solution is to outlaw pensions. This is actually what will happen. Because there is no resolution, the government pensions will demand to raise taxes and then there is never any reform in government so the end […]
