The State run pension fund for teachers etc in Calizuela (CalPers) & other State/county/city workers is almost $1Trillion in the hole. These idiots are all members of the SEIU (union) & over the years have blackmailed the State into all sorts of pension promises.Screwdriver wrote: ↑Thu Apr 06, 2023 10:57 pm The world is no longer being run for the benefit of humanity. The road we are on means us mere plebs won't own anything. Not our homes, our transport, we will own nothing.
There is such a gigantic imbalance in global finance that the super rich are buying up everything. They create the financial condition which allow them to more easily acquire, land, property and of course, more money.
Peasants like me can't really do anything about it. The wealthier middle class could but don't appear to either realise what's going on or couldn't care less because they don't think it will ever affect them.
But the rate at which the rich are getting richer took such a massive jump, they'll be coming after all that lovely middle class loot sooner rather than later. I imagine it will be something like a run on the banks and the collapse of several pensions companies or some such scam. Naturally the private equity companies will have protected themselves from the chaos that ensues, after all, they are the same people who will make it happen.
So I wouldn't be too worried about how on earth we'll all be able to drive around in Ev's. We won't all be doing it...
The money didn't exist when the deals were made, it doesn't exist today & it sure as fuck won't magically exist in the future. The retired people getting their pensions right now are being paid with the money that the drones paid in THAT WEEK.
Not sure when the shit will hit the fan, but the other huge Ponzi scheme (Social Security) is due to go tits up in 9 or 10 years.