Rocky rebounded from his loss to Clubber Lang, but he did not rely on hope [or optimism] in preparing for his rematch. Hope is neither a training plan nor an investment strategy. Anyone familiar with the Rocky series’ ubiquitous training montages will know the keys to success are hard work, sweat, an adrenaline-firing score, and some measure of pain. The answers to our pension problems are not all that different. I pity the fool who expects an easier answer. Source: Zero Hedge. The LB's $100 offer for a published editorial, based on data and analysis, that explains why staying on the current pension course is both fiscally conservative and not a burden to future city retirees or Encinitas residents is still available.
Encinitas voters are too stupid to know what this means. Encinitas voters are too stupid to elect decent politicians to make a positive change.
ReplyDeleteEncinitas voters are too fucking stupid.
Eventually, according to accepted accounting math, every municipality will eventually have only one employee, whose job it is to disburse pension checks to former employees (the Schwarzenegger interview is only background fluff, get to the part about the municipalities):
ReplyDeletehttp://www.vanityfair.com/business/features/2011/11/michael-lewis-201111
Mededith may be a little behind the time curve, but, without bailouts, she's absolutely right.
France is now, through a new state bank, giving money to municipalities and businesses that need supporting. My guess is that they're printing their own Euros. The Irish did it, so legally everyone else can do it, too:
http://thenewamerican.com/world-mainmenu-26/europe-mainmenu-35/5967-iris...
This is the global financial system of the future - Central Banks will print unlimited amounts of fiat to pay everything, without any capital reserves.
So the question is, how far can the world go, printing unlimited amounts of fiat out of thin air, until the system breaks? Any investing strategy is completely dependent on this premise.
Throw in the fact that nowhere in the world is any legal/regulating authority chasing high level financial fraud.
If the "NWO" is the replacement of existing governments with a new, global centralized one, isn't the complete control over the world's financial systems by unregulated, non-democratic Central Banks, with every country under their thumb, the ultimate proof? The "coup" has already taken place.
And to think, it all started with Alan Greenspan and the complicity of the American government:
http://www.pbs.org/wgbh/pages/frontline/warning/
If you're short of time, go straight to 18 minutes in.
Interesting that no political candidate - anywhere in the world, in any country - is pushing for legal accountability of high level financial fraud. We already have the "NWO". The question now is not how to prevent it, but how to reverse it.