Are We About To See The Next Stage Of Our Financial Crisis Through Pensions?

New rules are likely about to precipitate another financial crisis. The point of origin is pensions. Part of the problem is that these pensions were far too luxurious.  According to Fox Business News, for example, “…cushy pension stories continue to pour out of California. One retiree in the County of Solano pulls in nearly $371,000 a year in retiree pay. Nearly 12,200 government retirees get $100,000 a year, including 94 city retirees in Stockton. A retired librarian in San Diego somehow gets Read more […]

CA Assemblywoman Exposes The Pension Endgame

California’s pension shortfall is admitted by everyone. “The California State Teachers Retirement Fund (CalSTRS) released a report earlier this week revealing a $64 billion dollar pension deficit, while the California Public Employees Retirement System (CalPERS) puts its unfunded pension liability at $49 billion dollars, plus billions more in state retiree health care benefits. The non-partisan Legislative Analyst’s Office has stated that the Governor’s budget does not adequately address Read more […]

Japanese Politician’s Death Threat Treated Like Mere Insult In Western Media

There are two stories here. The first is what happened in Japan. The second is how the UK’s Guardian reported it. What happened in Japan is simple enough: “Japan’s new government is barely a month old, and already one of its most senior members has insulted tens of millions of voters by suggesting that the elderly are an unnecessary drain on the country’s finances. Taro Aso, the finance minister, said on Monday that the elderly should be allowed to ‘hurry up and die’ to relieve pressure Read more […]