Western Rifle Shooters Association

Do not give in to Evil, but proceed ever more boldly against it

Monday, May 25, 2009

The Next Wave

Few people have been paying enough attention to the growing gap between the obligations owed by various private and public pension plans and the amount of money held by those plans' trustees.

This story, from earlier this year, will give you a flavor of the issue, as does this recent piece re British Telecom's pension funding issues.

Mish Shedlock is one of the very few reporters attempting to get this story into the minds of everyday folks, as shown by this piece from last October.

Two other key resources: Pension Tsunami and Jim Sinclair's Mineset.

Why does any of this matter, especially to a freedom/RKBA blogging audience?

Four questions:

1) If you are a pension plan participant, do you know how much your future preps/ammo/food/guns budget will need to be reduced per month if your pension plan goes belly-up?

2) Do you really think the Pension Benefit Guaranty Corporation has enough money to make up for all of the shortfalls discussed by the sources above? (Here's a hint re the correct answer)

3) Do you really think the FedGov can borrow enough money to bail out the PBGC, given its current and anticipated other debts?

4) Do you really expect millions of Americans, who will wake up some morning soon to learn that the bulk of their retirement nest egg has vanished, are just say "Oh, well" and go back to their morning chit-chat television program?

Make ready....


Blogger The Other Mike S. said...

Let's see: Social Security has a projected $18 trillion deficit. Medicare has a projected $80+ trillion deficit. We're running about a $2 trillion operating deficit each year.

Take the blue pill. Everything will be OK.

May 25, 2009 at 7:49 PM  
Anonymous Anonymous said...

Let's see:

-Military pension
-VA disability payment
-Social Security check

-Paid for house and property
-Some prep's
-2 years worth of funds in savings,
Stocks and bonds, all held electronically.

If the 'net is frozen, the .gov stops payments, the mail stops, its going to be the old wild west all over again.

May 26, 2009 at 1:55 AM  
Blogger Ontological Thinker said...

Been taught since the beginning to make your own retirement plan. Also, there was an article about Social Security not making even sooner, on yahoo yesterday. Not that we all did not know that already, but further more reason one needs to make their own retirement.

May 26, 2009 at 3:47 AM  
Anonymous Anonymous said...

Please advise your readers that there is a march in DC

for people that think like us, on Sept.12.

Go to 912dc.org , to see all of the groups that will

be taking part.

I love reading your blog!

May 26, 2009 at 12:23 PM  

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