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Kiss Retirement Goodbye

Written by Gary North on March 5, 2015

no-retirement

The New York Times has sounded the alarm. Word is getting out to the intellectuals. It is not getting out to the general public. Here is reality: Here is something every non-rich American family should know: The odds are that you will run out of money in retirement. On average, a typical working family in […]

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401(k): Methadone for the Middle Class

Written by Gary North on February 6, 2015

methadone

Methadone is a legal drug that is taken by former heroin addicts. It eliminates the “rush” that heroin offers, but it also eliminates withdrawal symptoms. It lets heroin addicts escape the need to buy the expensive illegal drug. Methadone is for heroin addicts who just cannot bring themselves to go cold turkey from an addictive […]

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Tax Hikes Needed to Pay for Pensions/Health

Posted on December 24, 2014

tax-hikes

The city of Lebanon, Pennsylvania just passed a budget that contains a 28 percent tax increase. . . Lancaster’s pension obligations have increased by 228 percent since 2006. That year, city pension obligations amounted to $1.9 million, covered almost entirely by the state. For 2015, the obligations will be $6.4 million — nearly $4 million […]

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ERISA Pensions to Be Cut

Written by Gary North on December 9, 2014

ERISA

This was released by the International Association of Machinists. In a stunning betrayal of America’s highly vulnerable retiree population, lawmakers are preparing legislation for the lame duck session of Congress that would overturn a key tenant of the Employee Retirement Income Security Act (ERISA) and allow drastic cuts to the pensions of current retirees. The […]

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7% of Oldsters Live With Their Kids

Posted on November 22, 2014

The Current Population Survey’s American Social and Economic Supplement (ASEC), shows the share of seniors living with their children or other relatives has grown over the past 20 years, from an average of 6.6% over the years 1994-1998 to 7.3% in 2013.  These data are volatile year to year, but the overall trend is clearly […]

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The $5 Million Retired Cop

Written by Gary North on November 21, 2014

cops

So, you think America’s local governments are not going to go bankrupt. Think again. When Bobby Deal retired from the Jacksonville Sheriff’s Office last month, he did so with the promise of a nest egg worth at least $4.9 million, a sum he’ll be paid over the next 25 years. Deal now earns nearly 50 […]

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Walter Block: Austrian Economics’ Footnote Machine

Written by Gary North on September 27, 2014

walter-block

Walter Block is a professor of economics at Loyola University in New Orleans. He has been an active participant in the libertarian movement for over 40 years. Within the libertarian camp, he is by far the most prolific in academic journals. Nobody else comes close. He has published something in the range of 450 journal […]

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New Jersey Will Default on Government Pensions

Written by Gary North on July 31, 2014

pensions

State by state, county by county, city by city: they will default. The money is not there. The promises were huge. New Jersey’s governor Christie is touring the state, telling the voters that the state will break promises to retired government workers. He is doing what other government officials refuse to do: tell the truth […]

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