>e've written quite a bit over the past couple of months about the pending financial crisis in Illinois which will inevitability result in the state's debt being downgraded to "junk" at some point in the near future (here is our latest from just this morning: "From Horrific To Catastrophic": Court Ruling Sends Illinois Into Financial Abyss).
>Unfortunately, the state of Illinois doesn't have a monopoly on ignorant politicians...they're everywhere. And, since the end of World War II, those ignorant politicians have been promising American Baby Boomers more and more entitlements while never collecting nearly enough money to cover them all...it's all been a massive state-sponsored scam.
>As we've noted frequently before, some of the largest of the many entitlement 'scams' in this country are America's public pension funds. Up until now, these public pension have been covered by stealing money set aside for future generations to cover current claims...it's a ponzi scheme of epic proportions...$5-$8 trillion to be exact.
>Of course, the problem with ponzi schemes is that eventually you get to the point where the ponzi is so large that you can't possibly steal enough money from new entrants to cover redemptions from those trying to exit...and, with a tidal wave of baby boomers about to pass into their retirement years, we suspect that America's epic ponzi is on the verge of being exposed for the world to see.
thanks for the bump anyway, now back to the bait threads my dude.
Matthew Cooper
We'll just print more money to bail them out, but what the fuck is this 'State of Detroit' when you're talking about Illinois?
Jonathan Rogers
zerohedge is literally orgasm denial. When zerohedge says its happening, it never is
Parker Williams
yes i meant to write illionis, i didnt really meant to do this...........
Eli Ward
u mean chicago?
Nolan Fisher
7 1 2017. The Central Bank will sooner go Weimar Germany than deny any Baby Boomer a cut of the Gibs. They have a money press and all their bosses are either Jewish or Good Goyim. They are untouchable. When food become too expensive for the average middle class family to afford, that is the time to panic. All the rest of this is weak sauce being sold as The Hottest Ever!
Chase Carter
It's happening, pic related. And they raise property taxes so much they have destroyed the state economy. The actually put in their State Constitution that pension payments come first before any other considerations. This is the death of socialism.
