by Fabius Maximus, FabiusMaximus.com
Summary: During the past decade we have deployed our most skilled warriors and most advanced technology in an assassination program with few precedents in history.
July 18th, 2015
in Op Ed
by Charles Hugh Smith, Of Two Minds
Assuming "growth" will fund all promised pensions and entitlements is magical thinking.
The core problem with pension plans is that the promises were issued without regard for the revenues needed to pay the promises. Lulled by 60 years of global growth since 1945, those in charge of entitlements and publicly funded pensions assumed that "growth"--of GDP, tax revenues, employment and everything else--would always rise faster than the costs of the promised pensions and entitlements.