“This is going to be a national crisis…”
“This” being America’s woefully underfunded pension liabilities, according to Karen Friedman. She’s the executive vice president of the Pension Rights Center.
(A place called the Pension Rights Center does in fact exist. We checked.)
MarketWatch columnist Jeff Reeves howls in confirmation that “collapsing pensions will fuel America’s next financial crisis.”
“This is not a distant concern,” warns he, “but a system already in crisis.” Continue reading
The US Census report has shown that the net migration from the New York City area has surged during 2016, and that even included myself. Indeed, much more people are leaving the New York region than any other major metropolitan area in the country. Since 2010, the New York area has lost almost 4.5% of its population. This included New Jersey, Connecticut, Long Island, and the lower Hudson Valley. The number of people who left in 2015 was 187,034. Last year, 2016, that number jumped to 223,423. The number of international immigrants settling in the tri-state area declined from 181,551 to 160,324. The international migration has slowed and this trend means that taxes will only rise. Continue reading
(Bloomberg) — Ray Dalio, founder of the world’s largest hedge fund firm, Bridgewater Associates, told investors there’s a risk that the Federal Reserve could create a market rout similar to that of 1937 if it raises interest rates too fast. Continue reading
For those that question whether it would be possible, you might be interested in the following articles:
New Years Eve shouldn’t be the only time of the year of concern. Try ‘Black Friday’, for example, where millions from the American shopping mall regime go out throughout the country and squabble over goods made in China.
NEW YORK — The voice over the speakers at New York City’s emergency command center calmly stated the unthinkable: a nuclear explosion had gone off in Times Square.
More than 100,000 people are feared to have died instantly. A massive radiation cloud is being blown north by the wind, toward Westchester County and Connecticut. The city’s subway system has been shut down and the region’s cellphone service has largely failed.
“Is Washington on the phone?” said one worker outside the center’s situation room. “Has the mayor arrived?” asked another.