Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
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Craig Roland has issued a warning. It makes sense to me. * * * * * * * * * * * * * * * * First of all, keeping all your money at one company or one fund provider is a very bad idea. I’m sorry because I know that it’s more convienent, [...]
Continue reading →This report is a shocker: If you’re over-50 and looking forward to a wealthy retirement, think again. Chances are you’ll be forced to work for 11 years after reaching your state pension age if you want to keep up a decent standard of living. The shock warning that millions of workers are going to be [...]
Continue reading →The Mariana Islands are legally inside the United States — just not geographically. The retirement fund was $640,000,000 in the hole. So, it filed for bankruptcy. There will be many imitators. It was a defined benefits plan. Nobody sets these up any more. It was under 40% funded. That should have been a tip-off to [...]
Continue reading →California’s government borders at the brink of bankruptcy. It refuses to cut spending. But counties put the state to shame. In 20 counties, there is a practice called pension spiking. Senior bureaucrats arrange their final years to generate so much income that their monthly retirement checks are greater than their salaries were. The Los Angeles [...]
Continue reading →Impossible, right? Wrong. That’s how it works in Philadelphia. A woman who worked for two years for the city has resigned. She will receive $50,000 a year when she reaches retirement age. The city professes amazement that such a loophole exists. The city vows to close this loophole to future workers. How could this loophole [...]
Continue reading →We hear about older Americans who think they will have to keep working until they are 80. They are right; they should. But it’s all talk. The Federal Reserve Bank of St Louis in 2008 started publishing a graph on the percentage of American 60 or older who are still looking for jobs or who [...]
Continue reading →There are 1,200 people in New Jersey who pull pensions of more than $100,000 a year. Across the nation, the state pension systems are creating red ink for state and local governments. The unions negotiated these deals. Now the taxpayers are trapped. Of course, they are not trapped. These states and municipalities can declare bankruptcy, [...]
Continue reading →Ding Dongs are made by Hostess, which also makes Twinkies. It has filed for bankruptcy. It has now asked the union to take a shot in the head: radically reduced pension fund contributions from the company: from over $100 million a year to $25 million. If the union says no, the bankruptcy court will decide [...]
Continue reading →How many people work for governments in the United States. Let’s look at the numbers. The usual estimate of the number of employees of the U.S. government is 2.8 million. The estimate is fake. This does not count military personnel. But most important, it does not count contract workers paid by the federal government. The [...]
Continue reading →Dr. Leila Denmark died on April 1. She was the oldest practicing physician in the United States when she retired in 2001 at age 103. She has her own Wikipedia page. She was on the Eli Lilly team that developed the whooping cough vaccine in the mid-1930s. She was also an expert in autistic children. [...]
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