OCT 31 17 SIT EC y POL
ND denuncia debacle d Globaliz neoliberal y
propone State-Social + Capit-compet in Econ
ZERO HEDGE ECONOMICS
Neoliberal
globalization is over. Financiers know it, they documented with graphics
"...it's substitution, stupid... not addition..."
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See big image at: http://www.zerohedge.com/sites/default/files/images/user230519/imageroot/2017/10/31/2017.10.31%20-%20Pension%201_0.JPG
Earlier today, Milliman released their 2017
Public Pension Funding Study which explores the funded status of the 100
largest U.S. public pension plans...here's a look at what they found.
…
Meanwhile, 32% of the top 100 plans were less than 60%
funded.
As our readers are well aware,
we've long argued that public pension funds essentially hide their true funding
status by simply choosing artificially high discount rates for future
liabilities thus making their present values appear lower than they actually
are. It's a clever
scam but one that can only persist until the ponzi runs out of cash.
As Milliman notes, the median expected return of the 100 largest public pension
funds in the U.S. is somewhere around 5.9% based on the asset allocations of those funds.
That said, you can
imagine our shock to learn that 83 of the
top 100 funds used discount rates in excess of 7%.
So, what does that mean? Well, Milliman
figures that overstating a fund's discount rate by just 1% artificially
reduces it's benefit liability by up to 15%.
Therefore, given that the aggregate
liabilities of the top 100 funds are roughly $5 trillion, each 1% adds about
$750 billion in liabilities.
A relatively small change in the
discount rate can have a significant impact on the Total Pension Liability. How big that impact is depends on the makeup
of the plan's membership: a less "mature" plan with more active
members than retirees typically has a higher sensitivity to interest rate
changes than a more mature plan with a bigger retiree population. Other
factors, such as automatic cost of living features, also come into play in
determining a plan's sensitivity. Using a discount rate that is loo basis
points higher or lower than the independently determined investment return
assumption moves the aggregate recalibrated Total Pension Liability by anywhere
from 8% to 15% SEE FIGURE 13 AT:.
Adding insult to injury, Milliman
notes that the ratio of retired pensioners (those taking money out of the
system) to active pensioners (those still funding the ponzi) has surged 16%
over the past couple of years.
See more charts at:
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"Why
do we live in a world in which the offended people get to make the rules when
they deliberately propel themselves into places that are certain to offend them?
It’s so blatant of late that I am positive they’re doing it on purpose. We no longer live in the United States of America. We live
in the Offended States of America."
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"The Deep State is winning... Get ready.... We’re just a few short years away from the dystopian future depicted in the film V for Vendetta, which is no future at all."
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"So, a faster rate of
global capex growth is the good news... The bad news is that some traditional sectors
are investing to survive and will dilute their return on invested capital in
the coming years."
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"Precious metals like
gold are neither a historic
accident nor a relic...bitcoin remains untested in market turndowns..."
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POLITICS
La seudo democ y sist duopolico es obsoleto por fraudulento y
corrupto. Urge cambiarlo
Republicans
rushing to finish a far-reaching tax cut package by Thanksgiving conceded late
Tuesday that they would have to delay the release of their legislation by a
day.
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"...it appears we’re once again on the cusp of
momentous paradigm level change regarding
how the world functions..."
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Graves County Superintendent Kim Dublin in Kentucky is apparently
concerned that forcing her teachers to accept the same retirement plans offered
to almost every private sector employee in the country would literally "dismantle public
education" as we know it.
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WORLD ISSUES and M-East
Global depression is
on…China, RU, Iran search for State socialis+K- compet. D rest in limbo
Good news?:
Having made no friends this week with his McCarthyite
'blacklist' of potential Russia-sympathizers, and facing
bans and probes throughout eastern Europe (for his 'Open Society'
actions), bilionaire investor George Soros has a new enemy -
Isarel!
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DEMOCRACY NOW
US politics crisis:
Trump captured by Deep state to reproduce old cronyism without alter-plan
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GLOBAL RESEARCH
Global Econ-Pol
crisis leads to more business-wars:
profiteers US-NATO under screen
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INFORMATION CLEARING HOUSE
Deep on the US
political crisis, their internal conflicts n chances of WW3
North Korea: A Threat or A Victim? Some Facts By Felicity Arbuthnot
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Should Assad Stay Or Should He Go... By Ron Paul
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How To End The Endless War By Stephen Kinzer
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U.S. Military is the Largest Employer in the
World By Sue Chang
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Is Trump a Blessing or a Curse to the Deep
State? By John W. Whitehead
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COUNTER PUNCH
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Pauline Murphy The
Struggle for Independence: From Ireland to Catalonia
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Andrew Stewart What
Do You Know About Fascism Anyway, Whiteboy?
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SPUTNIK and RT SHOWS
The nasty business of
US-NATO-Global-wars uncovered ..
“perpetrated by a 29-year-old man” described as a "lone
wolf."
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RT SHOWS
The World According to Jesse Space
Wars, decentralized internet & Jim Cantrell
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Keiser Report
Episode
1143 Max and Stacy discuss
the political operatives in ‘study’ the voter in flyover America, n draw
conclusions confirming their own profitable positions. Then Max interview author and banker, Chris Whalen
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NOTICIAS IN SPANISH
Latino America fight
to break with collapsing Empire: leftist
view on alternatives
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PRESS TV
Global situation
described by Iranian observers.. Titles distorted n incomplete sentences
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