Experts worry about stock, bond and real estate market excesses. But a bubble is forming that dwarfs them all: in pension plans. Millions of Americans and Canadians who are counting on pension benefits to fund their retirements risk being severely disappointed.
The hard money community has, of course, been aware of this for some time. However in recent years, even the elites have been taking notice.
One such group, the International Forum of the Americas, will be holding its fourth annual pension conference in Montreal next Monday.
There politicians, financiers and monetary policy officials will discuss the declining rates of return in public and private sector pension plans.
The picture they will paint is increasingly grim.
Pension funds, which have been issuing over-optimistic revenue forecasts for years, aren’t going to earn nearly enough money to pay the benefits recipients expect.
You can read the rest @
https://www.sprottmoney.com/blog/the-pension-bubble-how-the-defaults-will-occur-peter-diekmeyer.html
I'm on a pension, and I don't like what our government and the corporations it works for are doing. Take a look at this chart of US government discretionary spending:
Clearly the US government spends WAY too much on "defense" and far too little on other important programs. And corporations give WAY too much to CEOs and executives and far too little to employee benefits and retirement plans.
"Our" government and so-called US corporations are destroying the US middle class and working class. If We The People do not force this to change - and soon - our way of life will cease to exist.
I doubt whether electing Trump will help, but I know damn well that electing Hillary will only accelerate the process.
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