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Economic Collapse Watch by James Reed

Apart from the concern about nuclear-armed NATO subs being on war alert, ready for war which they hope to provoke with Russia, being puppets of power-drunk insane global elites, there is major concern about a looming fiscal crisis, primarily in the US, based on the collapse of pensions: http://www.collapse.news/2017-03-31-the-next-financial-crisis-could-be-centered-around-pensions.html.

Due to a multiple of compounding factors, such as industry job losses, a reduction in the tax base, and changing demographics, nearly one million Americans face the possible collapse of their pension plans. For example, the US state of Illinois had for its government-run pensions a $ 111 billion deficit in 2015, which is rapidly growing. It was reported in June 2016, that the Teamster’s Central States pension Fund is in financial trouble and may fall this year, wiping away the pensions of thousands of Americans.

With America $20 trillion in debt, and Trump wanting to reduce American debt, it is unlikely that the US government will bail out the pension funds.
Sadly, many aged Americans will have to get to like the taste of tin dog food. It will be their reward for a lifetime of sacrifice and hard slug: http://www.smh.com.au/news/national/pet-food-diet-a-shaggy-dog-story/2008/09/08/1220857456741.html.

 

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Tuesday, 26 May 2020
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