Pensions may be cut to 'virtually nothing' for 407,000 people

[WhiteLove]

I just read this, I thought it was rather thought provoking and pretty crazy...

"The Central States Pension Fund has no new plan to avoid insolvency, fund director Thomas Nyhan said this week. Without government funding, the fund will run out of money in 10 years, he said."

"A retiree would receive a maximum $35.75 a month for each year worked, according to the fund's website. (That amounts to $1,072.50 a month for retiree who worked 30 years.)"

http://money.cnn.com/2016/05/20/retirement/central-states-pension-fund/

[sigma6]

all these programs always were nothing more than ponzi schemes, on a national scale, a gimmick the baby boomers set up for themselves... it was never mathematically feasible without a constant growth rate, which itself is not mathematically feasible... technically anything that is dependent on a constant population growth curve (i.e. a constant influx of new members) isn't self sustaining, is a ponzi scheme by definition... we need a new paradigm... population control will become a reality at some point in the future... the idea of building an expanding empire won't function when there are no more territories to take over/colonize... We are beginning to see the resulting problems of that already... we can't keep blowing up buildings (911) or countries' economies (middle east, ukraine) just to maintain geopolitical status quo's forever...

[robinr1]

population control aside..... pretty damn good post







all these programs always were nothing more than ponzi schemes, on a national scale, a gimmick the baby boomers set up for themselves... it was never mathematically feasible without a constant growth rate, which itself is not mathematically feasible... technically anything that is dependent on a constant population growth curve (i.e. a constant influx of new members) isn't self sustaining, is a ponzi scheme by definition... we need a new paradigm... population control will become a reality at some point in the future... the idea of building an expanding empire won't function when there are no more territories to take over/colonize... We are beginning to see the resulting problems of that already... we can't keep blowing up buildings (911) or countries' economies (middle east, ukraine) just to maintain geopolitical status quo's forever...