« November 2019 | Main | January 2020 »

December 2019

It's the pensions, stupid

Maybe it's just me, but I think the probability of a huuuuuuge problem originating in unfunded pensions is far greater than one caused by global warming. For some support, see the following:

"America’s public-sector pension schemes are trillions of dollars short".

"'Inherently Unstable' US Pension System Will Require Federal Bailout, Former Illinois Pension Chief Says".

"'Their house is on fire': the pension crisis sweeping the world".

"Netherlands Headed For Unprecedented Crisis: Millions Of Retirees Face Pensions Cuts Thanks To The ECB".

And of course from a few weeks back there's this: "Police fire tear gas and water cannon at protesters as France is paralysed by worst nationwide strike for decades: Sixty-five arrested in Paris as schools shut, public transport stops and Eiffel Tower closes in protest at Macron's pension reforms".

 


"Angry French Pensioners Cut Power To Central Bank, Hint At More To Come"

And if you don't think something like this could happen here, in the good ol' USA . . . just wait.

UPDATE: See also Pat Buchanan:

The questions the U.S. will inevitably face are the ones France faces: At what point does government consumption of the national wealth become too great a burden for the private sector to bear? At what point must cuts be made in government spending that will be seen by the people, as they are seen in France today, as intolerable?