Page 1 of 1
When "BK" does not mean "Burger King"
Posted: Fri Mar 18, 2016 11:00 am
by goodasgold
Read it and weep, says Uncle Goodasgold (but not before you have securely stored your yellow stuff):
http://www.nytimes.com/2016/03/18/busin ... iness&_r=0
Excerpts:
"[R]esearchers at Citigroup say... Governments have promised much more than they can most likely pay to current and future retirees, without revealing the disparity to investors who bought government bonds....
"Twenty countries of the Organization for Economic Cooperation and Development have promised their retirees a total $78 trillion, much of it unfunded....
"That is close to twice the $44 trillion total national debt of those 20 countries, and the pension obligations are 'not on government balance sheets,' Citigroup said."
Re: When "BK" does not mean "Burger King"
Posted: Fri Mar 18, 2016 2:35 pm
by Libertarian666
goodasgold wrote:
Read it and weep, says Uncle Goodasgold (but not before you have securely stored your yellow stuff):
http://www.nytimes.com/2016/03/18/busin ... iness&_r=0
Excerpts:
"[R]esearchers at Citigroup say... Governments have promised much more than they can most likely pay to current and future retirees, without revealing the disparity to investors who bought government bonds....
"Twenty countries of the Organization for Economic Cooperation and Development have promised their retirees a total $78 trillion, much of it unfunded....
"That is close to twice the $44 trillion total national debt of those 20 countries, and the pension obligations are 'not on government balance sheets,' Citigroup said."
This will surprise anyone who has been living in a cave for the last 30 years.
Re: When "BK" does not mean "Burger King"
Posted: Fri Mar 18, 2016 4:15 pm
by goodasgold
Libertarian666 wrote:
This will surprise anyone who has been living in a cave for the last 30 years.
Such as all of the politicians who have run or are running for president during the last 30 years, except for Rand Paul?
Re: When "BK" does not mean "Burger King"
Posted: Fri Mar 18, 2016 5:32 pm
by Libertarian666
Do you think they don't know this?
I'm pretty sure they do know it, but won't say anything about it because they will lose votes if they do.
Of course some could just be delusional and think it can be fixed somehow, but I suspect most just don't want to talk about it.
Re: When "BK" does not mean "Burger King"
Posted: Sat Mar 26, 2016 7:24 pm
by MachineGhost
Hmm, I wonder why only "gold bug doom porners" are commenting in this topic.
Seriously, guys, go add up all of the assets of the US of A and compare it to all of the accumulated liabilities, including the unfunded liabilities. There's just no fire to be seen anywhere... the amount of debt alone is meaningless without the assets from the same balance sheet or cash flow from the income statement.