New Jersey Pension System's Unfunded Liability Increases to $34.4 Billion

[hhasche]

Quo Vadis?


We are standing on the edge of a cliff in the middle of nowhere. We must ask our politicians a very important question - Quo Vadis? (Where are you going?) To date, the answers have been more of a riddle, or in Latin – lucus a non lucendo. In other words, we get a paradoxical explanation that is of something that is the opposite of what it suggests. What we must fear the most, is also what the Romans called – lex talionis - the law of retribution. We must now also ask, quis eustodiet ipos custdes? (who shall guard the guardians?)

Martin Armstrong
3/2009

http://www.contrahour.com/contrahour/2009/03/martin-armstrong-is-it-time-to-turn-out-the-lights.html

 

[Cutten]

Polls around the world have consistently shown that voters want lower taxes, better government services, and a nice state-funded pension - all at the same time.

Voters will get a real-world lesson in basic arithmetic in the coming years.

 

[ByLoSellHi]

Quote from Cutten:

Polls around the world have consistently shown that voters want lower taxes, better government services, and a nice state-funded pension - all at the same time.

Voters will get a real-world lesson in basic arithmetic in the coming years.

Absolutely, because they're going to get much higher taxes, less and worse government services, and no state-funded pensions anymore.

In addition, the new 'normal' (i.e. 'full' in economic-speak) employment rate will be a weak European nation-state like 12%, or so.

 

[sjfan]

Are you the same Martin who writes about goldman conspiracy theories? Awesome! I love your newsletter!

Quote from hhasche:

Quo Vadis?


We are standing on the edge of a cliff in the middle of nowhere. We must ask our politicians a very important question - Quo Vadis? (Where are you going?) To date, the answers have been more of a riddle, or in Latin – lucus a non lucendo. In other words, we get a paradoxical explanation that is of something that is the opposite of what it suggests. What we must fear the most, is also what the Romans called – lex talionis - the law of retribution. We must now also ask, quis eustodiet ipos custdes? (who shall guard the guardians?)

Martin Armstrong
3/2009

http://www.contrahour.com/contrahour/2009/03/martin-armstrong-is-it-time-to-turn-out-the-lights.html

 

[Martinghoul]

Big deal... The UK defined benefit pension system is underfunded to the tune of arnd $375bn.

 

[flytiger]

Quote from Martinghoul:

Big deal... The UK defined benefit pension system is underfunded to the tune of arnd $375bn.

Whew!!! Thank God! I feel much better.