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China’s Raging Against Dying Of The Light (Or Why Peak Employment Is Imminent)

Authored by Chris Hamilton via Econimica blog, China's working age population is clearly defined as those aged 16 to 50 years old for females (55 for "white collar" females) and 16 to 60 years old for males.  China mandates retirement at these outer age limits.  Perhaps of some interest should be that this working age population peaked in 2011 and has […]


Almost A Third Of Americans Are Working Beyond Age 65

There is a huge disparity in employment rates among over 65s across different countries… You will find more statistics at Statista As Statista's Niall McCarthy notes, a recent OECD report found that the highest rates of people working beyond 65 are in Asia with Indonesia particularly notable as having a 50.6 percent employment among those in […]


Here’s How Much Retirees Are Spending To Support Their Adult Kids

At one point in time in America, living at home with mom and dad after crossing out of your teenage years and into your 20s was embarrassing and something that was generally avoided at all costs.  And while hard times come and go, 20-somethings who were forced back into their parents’ care worked their tails […]


“Almost A Given It Will End Badly”: Vanguard Founder Jack Bogle Says U.S. Pensions Are Doomed

Legendary investor Jack Bogle is apparently not all that optimistic that public pension funds in the U.S. are going to be able to meet their future funding obligations.  Speaking with Bloomberg earlier today, Bogle predicted that bond returns will be a paltry 3% over the next decade, with stock returns not that much better, making […]


The Great Retirement Con

Authored by Adam Taggart via PeakProsperity.com, Frankly put: retirement is now a myth for the majority…   The Origins Of The Retirement Plan Back during the Revolutionary War, the Continental Congress promised a monthly lifetime income to soldiers who fought and survived the conflict. This guaranteed income stream, called a "pension", was again offered to […]


Yale’s Endowment CIO Has Some Really Bad News For Public Pensions…

Public pensions all around the country like to play a clever little game that allows them to drastically understate the current value of their future liabilities and therefore pretend that their ponzi schemes are something other than insolvent frauds.  Of course, we’re talking about the artificially high discount rates that pension boards consistently use to […]


Fabrications Of Financial Media Superstars – Part One

Authored by Lance Roberts via RealInvestmentAdvice.com, Every day, the A-listers, those known around the world as household-name financial media royalty, are making public statements that if taken on the surface as actionable advice, are going to lead to unpleasant financial surprises. Not for them. For you. As authorities, no matter what they bloviate about on […]


The Ponzi Scheme That’s Over 100x The Size Of Madoff

Authored by Simon Black via SovereignMan.com, By January 1920, much of Europe was in total chaos following the end of the first World War. Unemployment soared and steep inflation was setting in across Spain, Italy, Germany, etc. But an Italian-American businessman who was living in Boston noticed a unique opportunity amid all of that devastation. […]


Will Americans Die Young Enough To Save Pension Plans?

Authored by Doug French via The Mises Institute, “Pension fund problems worsen in 43 states” says the Bloomberg headline. Laurie Meisler writes, New Jersey, Kentucky and Illinois continue to lose ground and now have only about one third of the money they need to pay retirement benefits. And three states had double-digit declines in their pension funding […]


The New American Dream: Work Longer, Live Sicker, Die Sooner

With stagnant wages, rising cost of living (see shelter inflation), and a lack of savings, Americans are retiring later than ever before (if at all). But in a double-whammy for seniors, whose health is declining, their lifespans are shrinking offering them little if any time to enjoy the end of the American Dream walking hand […]


Kentucky Teachers ‘Outraged’ At Thought Of Accepting Same Retirement Plans As Private Sector Workers

Last week we noted that, after months of planning and cogitating over how to address the failing public pension systems in their state which are somewhere between $40 and $80 billion under water, Kentucky’s Governor Matt Bevin and the leaders of the General Assembly’s Republican majorities released their highly-anticipated ‘plan’ which turned out to be […]


“I’m Going To Work Until I Die”: A Look At How Unprepared Boomers Are For Retirement

Authored by Patrick Watson via Mauldin Economics, Wall Street endlessly gushes about retirement. Its TV commercials show how wonderful life will be in our golden years—when we are old, yet still healthy and wealthy enough to go hang-gliding every day. Meanwhile, out here in the real world, most working-age Americans don’t want to talk or […]


“This Is A Crisis Greater Than Any Government Can Handle”: The $400 Trillion Global Retirement Gap

Submitted by John Mauldin of Mauldin Economics Today we’ll continue to size up the bull market in governmental promises. As we do so, keep an old trader’s slogan in mind: “That which cannot go on forever, won’t.” Or we could say it differently: An unsustainable trend must eventually stop. Lately I have focused on the […]


What Could Go Wrong? (For Public Pensions, More Than You Know)

Authored by Patrick Watson via MauldinEconomics.com, Here’s a loaded question for you: “What could go wrong?”   In some contexts, it can express mistaken confidence, as in, “Sure I’ll put my hand between that crocodile’s jaws. What could go wrong?” Investors should ask the same question before entering a position. “What risks am I taking […]


1 Million Ohio Public Employees Face Pension Cuts As Another Ponzi Teeters On The Brink

We’ve written frequently of late about the pension crisis in Kentucky where pensioners are facing potentially catastrophic benefit cuts as their politicians finally admit that they’ve been sold a fantasy for decades (see: Pension Consultant Offers Dire Outlook For Kentucky: Freeze Pension And Slash Benefits Or Else). Unfortunately, Kentucky is not unique as there is […]