Here we go: The pension collapse is now underway

A few months ago, the largest public and private pension funds announced that they were so underfunded that they would have to begin cutting benefits, or in the case of Central State Pension Fund, even cut payments to retirees altogether.  But this now appears to be just the start of a worldwide pension collapse thanks mostly to the actions of global central banks in their decisions to pick a few winners to the detriment of everyone else.

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Europe's banking system out of options as access to unlimited credit pretty much done

Last week, Reuters issued a report which shows that quantitative easing has never stopped for the four major central banks, and that they are printing over $1 trillion every six months in new liquidity to support their markets.  And incredibly, what began as programs to purchase non-performing toxic debt from financial institutions has morphed into both direct equity buying, and now with the ECB, the purchasing of corporate debt.

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Here we go... bank exposure worse than 2008 and ready to pop

Doom one, doom them all.  This was the idiotic program that the regulators, legislators, and central banks formulated in 2008 to ‘try’ to ensure that during the next financial crisis, a Lehman Event would be non-existent at best, and slightly difficult at worst.

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