U.S. Air Force laments that it’s short of pilots

http://www.mcclatchydc.com/news/nation-world/national/national-security/gk0q14/picture94922912/ALTERNATES/FREE_960/AirForce_01

A member of the U.S. Air Force stands in front of an F-22 Raptor at Seoul Airport in South Korea, on Oct. 19, 2015. The Air Force says it faces an imminent shortfall of 700 pilots by the end of 2016. SeongJoon Cho Bloomberg

 

 

The U.S. Air Force faces a shortfall of 700 fighter pilots by the end of the year and as many as 1,000 pilots within a few years, Air Force officials said Wednesday.

“It is a crisis,” said Gen. David Goldfein, the Air Force chief of staff. “Air superiority is not an American birthright. It’s actually something you have to fight for and maintain.”

Aggressive hiring by commercial airlines has helped thin the ranks of Air Force pilots, and lengthy deployments overseas, long separations from family and reduced flying time when back on U.S. soil have exacerbated the problem, Goldfein said.

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Bank Deposits No Longer Guaranteed By Austrian Government

If you’re not already familiar with one of the more recent invented economic terms of the last few years, “bail-in”, it essentially means your respective government has given the banks the green light to legally take your deposits to cover their obligations should there be another crisis. Instead of the corrupt government bailing ‘out’ the banks, you, the depositor, are bailing them ‘in’. This is also an indication of an anticipated crisis.

In 2013, the United States reportedly missed one by a hair’s length.

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– Austria will remove state guarantee of bank deposits
– Austrian deposit plan given go ahead by the EU
– Banks to pay into a deposit insurance fund over 10 years
– Fund will then be valued at a grossly inadequate €1.5 billion
– New bail-in legislation agreed by EU two years ago
– Depositors need to realise increasing risks and act accordingly
– “Bail-ins are now the rule” and ‘Bail-in regime’ coming

Bank deposits in Austria will no longer enjoy state protection and a state guarantee in the event of bank runs and a bank collapse when legislation is enacted in July. The plan to ensure that the state is no longer responsible for insuring deposits has been readied by the Austrian government in conjunction with the EU two years ago according to Die Presse. Continue reading