"Pension Funds in trouble...Brace yourselves...We have funny money funding people’s retirements" & Will Government Union Democrats with Lost Pension Funds continue to support "Bidenflation... [& the] Pension Bomb"?
Today, George Clover reported "Major pension funds [are] in trouble":
Major pension funds in trouble due to playing with fire is big trouble. I’m sure we’ll be reading more about the outcome of The Fed meeting, but we may not get the truth of the matter. Brace yourselves, is about the sum of it. Russia has oil and gas, even if their military is experiencing a bumpy ride lately. We have funny money funding people’s retirements—which may go blooey, or could lead to massive restructuring. What do I know?
Karl Denninger thinks this could spell trouble:
Is The Fed About To Destroy America?
Today The Fed is holding an emergency meeting under "expedited procedures."
The actions to be considered are the discount and advance rate -- in other words, interest rates.
The rumored reason is that Credit Suisse may be in trouble -- specifically due to writing interest rate swaps, along with a number of other institutions which happens to include pension funds both in the UK and US, none of whom should ever be playing with levered instruments for the simple reason that leverage is everywhere and always speculative.
But of course they are because nobody has ever gone to prison for using leverage as a means to evade requiring the underlying organization to fund pensions adequately with actual money.
The Catholic Monitor wonders how Democrat Unions who control Joe Biden, Gavin Newsom and probably all elected Democrats will react:
The Catholic Monitor in 2009 reported according to Richard Salbato that "almost all union members vote Democrat and most union members work for the government":
"Now, consider this, almost all union members vote Democratic and most union members work for the government – fed, state, and local. Most teachers, policeman, firefighters, government health workers are union members. Right now 28% of the work force works for the government. That means the right off the bad, Democrats have 28% they can count on for votes. By expanding the government another 10% before the next elections in 18 months, they can have a block of 38% of the vote." [https://www.thecatholicmonitor.com/2009/07/obamageddon.html]
News Target reported "As Bidenflation collapses economy, unfunded state pension bomb ready to explode, costing trillions":
On Monday, Wall Street fell to levels not seen in years as “Bidenflation” — massively rising inflation thanks to purposefully destructive economic policies enacted by Joe Biden’s handlers — continues to destroy the perfect economy Donald Trump built.
When the former president’s election was stolen from him and Biden was installed as a figurehead president, Trump’s economy was booming: Unemployment was coming back down from highs during the pandemic; the country was energy independent; wages had risen substantially for all ages, ethnic groups and both sexes; there was no war in Ukraine; and our country was once again respected on the global stage.
In 15 short months, Biden’s Marxist handlers have reversed all of that in their push to create so much chaos that Americans will beg them to ‘make it stop,’ at which time they will gladly oblige but only by destroying our founding system of democratic republicanism and at the cost of our liberties.
Part of that plan, apparently, is the ticking time bomb of trillions in unfunded state pensions, which will wipe out the retirement of tens of millions of Americans, as The Center Square reports:
Unfunded state pension liabilities have climbed to $8.28 trillion, or nearly $25,000 for every person in the United States, according to a new report from the American Legislative Exchange Council.
The American Legislative Exchange Council released the latest edition of its report on pensions in all 50 states Thursday. The report, “Unaccountable and Unaffordable 2021,” shows just a handful of states with outsize pension liabilities account for a large share of overall pension debt in the U.S.
The report looked at 290 state-administered government pension plans and their assets and liabilities from fiscal year 2012 to fiscal year 2020. An example of state-administered government pension plans in Illinois would cover state employees, teachers, university workers, judges and lawmakers. [https://www.newstarget.com/2022-06-14-bidenflation-collapses-economy-unfunded-state-pension-bomb-ready-to-explode.html]
Value Side also reported on "Biden And The Bond Market" that is the "the chief means by which the US Government finances its operations":
Of all the financial markets, the bond market is, to me, the most exquisite. Its precision is second to none. And here I'm talking about the US Treasuries, bonds, notes, and agencies. Which make up one of the largest collections of securities in the world.
The bond market is important, the chief means by which the US Government finances its operations. But it's also a major place for those of us who are investors to place our funds. Considered one of the safest investments in the world, it can also provide a consistent secure return for the shrewd and knowledgeable.
Properly treated, the bond market can serve both borrowers, the US Government, and Lender, those of us who invest in the bonds, well. Indeed, we've had optimal conditions in the bond market for a very long time.
In fact, many analysts consider the bond market to be the most favorable market over the past generation or more. With many calculating the bond market to have a 30-year bull phase. 30 years of progressively lower interest rates, and thereby higher principal.
All this did not come entirely by accident. Generally, the political class in America has operated with some restraint over the past 30 years.
Well, there was that matter of the Obama Administration's spending so much, that they caused our bond market to lose its Triple “A” Rating, for the first time in our history.
But ignoring that for the moment. Essentially, the bond market has been able to finance the steadily growing debt of the country, while maintaining its low-interest rate.
Unfortunately the policies and initiatives of the current US President, Joe Biden threaten that equilibrium, of low-interest rates, and high bond issuance.
The first way that the Biden Administration threatens the bond market, is by the sheer volume of bonds that will need to be issued to support current spending. Like his former boss, President Obama,
President Biden is taking spending to a new level. Order's of magnitude above what we've seen before. Inevitably this new supply will likely mean higher rates.
Ironically, it may be the action of Joe Manchin, Senator from West Virginia, who has announced that he will vote against the enhanced spending of the White House, that will give a needed reprieve to the bond market. A reprieve from this mounting bond issuance, which is sorely needed. [https://www.valueside.com/blog/biden-and-the-bond-market/]
Pray an Our Father now for reparation for the sins committed because of Francis's Amoris Laetitia.
Pray an Our Father now for the restoration of the Church as well as the Triumph of the Kingdom of the Sacred Heart and the Immaculate Heart of Mary.
Stop for a moment of silence, ask Jesus Christ what He wants you to do now and next. In this silence remember God, Father, Son and Holy Ghost - Three Divine Persons yet One God, has an ordered universe where you can know truth and falsehood as well as never forget that He wants you to have eternal happiness with Him as his son or daughter by grace. Make this a practice. By doing this you are doing more good than reading anything here or anywhere else on the Internet.
- Doctor of the Church St. Francis de Sales totally confirmed beyond any doubt the possibility of a heretical pope and what must be done by the Church in such a situation:
"[T]he Pope... WHEN he is EXPLICITLY a heretic, he falls ipso facto from his dignity and out of the Church, and the Church MUST either deprive him, or, as some say, declare him deprived, of his Apostolic See."
(The Catholic Controversy, by St. Francis de Sales, Pages 305-306)
Saint Robert Bellarmine, also, said "the Pope heretic is not deposed ipso facto, but must be declared deposed by the Church."
- "If Francis is a Heretic, What should Canonically happen to him?": http://www.thecatholicmonitor.com/2020/12/if-francis-is-heretic-what-should.html
- "Could Francis be a Antipope even though the Majority of Cardinals claim he is Pope?": http://www.thecatholicmonitor.com/2019/03/could-francis-be-antipope-even-though.html
- If Francis betrays Benedict XVI & the"Roman Rite Communities" like he betrayed the Chinese Catholics we must respond like St. Athanasius, the Saintly English Bishop Robert Grosseteste & "Eminent Canonists and Theologians" by "Resist[ing]" him: https://www.thecatholicmonitor.com/2021/12/if-francis-betrays-benedict-xvi.html
- LifeSiteNews, "Confusion explodes as Pope Francis throws magisterial weight behind communion for adulterers," December 4, 2017:
The AAS guidelines explicitly allows "sexually active adulterous couples facing 'complex circumstances' to 'access the sacraments of Reconciliation and the Eucharist.'"
- On February 2018, in Rorate Caeli, Catholic theologian Dr. John Lamont:
"The AAS statement... establishes that Pope Francis in Amoris Laetitia has affirmed propositions that are heretical in the strict sense."
- On December 2, 2017, Bishop Rene Gracida:
"Francis' heterodoxy is now official. He has published his letter to the Argentina bishops in Acta Apostlica Series making those letters magisterial documents."
Pray an Our Father now for the restoration of the Church by the bishops by the grace of God.
- Intel Cryptanalyst-Mathematician on Biden Steal: "212Million Registered Voters & 66.2% Voting,140.344 M Voted...Trump got 74 M, that leaves only 66.344 M for Biden" [http://catholicmonitor.blogspot.com/2020/12/intel-cryptanalyst-mathematician-on.html?m=1]
- Will US be Venezuela?: Ex-CIA Official told Epoch Times "Chávez started to Focus on [Smartmatic] Voting Machines to Ensure Victory as early as 2003": http://catholicmonitor.blogspot.com/2020/12/will-us-be-venezuela-ex-cia-official.html