News: Illinois will forge ahead with its $111 billion pension deficit (aka: unfunded liability). Meanwhile, "there are 86 million full-time private sector workers in the United States paying taxes to support the government, and nearly 148 million Americans that are receiving benefits from the government each month."
Well, ain't nothin' we can't fix with a little more QE = margin debt (leveraged liquidity) for the stock market, eh?
Man oh man that country just can't implode fast enough eh.
ReplyDeleteHmm. Let's see. If the stock market turns negative, the stocks owned on margin have to be sold. That creates a positive feedback loop as stock values fall and selling accelerates, becoming automatic with algorithmic trading systems. Then comes the credit freeze. Then the private (productive) sector can't work (transportation shuts down as in 2008). What happens to 148 million dependents at that point? Ferguson riots in every city? Oh wait, I forgot. Money comes from the government in an endless supply.
ReplyDeleteTwo out of ten people in the work force are public servants. One out of the eight remaining is employed on a contract or project that is tax-payer funded. Now, factor in pensioners, the unemployed, welfare recipients, and those on disability pensions.
ReplyDeleteYou know that hackneyed-to-the-point-of-puking word "sustainable"? How come it's never applied to this state of affairs?