{"id":23390,"date":"2017-03-31T13:03:16","date_gmt":"2017-03-31T18:03:16","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23390"},"modified":"2017-03-31T13:03:16","modified_gmt":"2017-03-31T18:03:16","slug":"the-ticking-time-bomb-that-will-wipe-out-virtually-every-pension-fund-in-america","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23390","title":{"rendered":"The Ticking Time Bomb That Will Wipe Out Virtually Every Pension Fund In America"},"content":{"rendered":"
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The Ticking Time Bomb That Will Wipe Out Virtually Every Pension Fund In America<\/a><\/h3>\n<\/div>\n
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\"\"<\/a>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 \u201cPension Crisis Too Big for Markets to Ignore<\/a>\u201c, it simply confirmed what a lot of people already knew to be true.\u00a0 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.\u00a0 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.<\/p>\n

On a day to day basis, Americans generally don\u2019t think very much about pensions.\u00a0 Most of those that have been promised pensions simply have faith that they will be there when they need them.<\/p>\n

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<\/a>.<\/p>\n

But what happened in Dallas is just the very small tip of a very large iceberg.\u00a0 According to Bloomberg<\/a>, unfunded pension obligations on a national basis \u201chave risen to $1.9 trillion from $292 billion since 2007\u2033\u2026<\/p>\n

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 \u2013 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.<\/strong><\/p><\/blockquote>\n

And of course that $1.9 trillion number is not actually the real number.<\/p>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Ticking Time Bomb That Will Wipe Out Virtually Every Pension Fund In America 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 \u201cPension Crisis […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[15048,6069,4901,2339,4987,12248,15049,4366,7533,1816,15050,15051,5631,15052],"class_list":["post-23390","post","type-post","status-publish","format-standard","hentry","category-economics","tag-commercial-mortgages","tag-economic-collapse-blog","tag-michael-snyder","tag-mortgages","tag-pension","tag-pension-crisis","tag-pension-crisis-2017","tag-pension-fund","tag-pension-funds","tag-pensions","tag-pensions-underfunded","tag-pensios-underfunded","tag-retirement","tag-risky-investments"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23390"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23390\/revisions"}],"predecessor-version":[{"id":23391,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23390\/revisions\/23391"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}