by Mac Slavo
Yet another reason why taxes are going up, cities and states are going broke, and the world is approaching financial implosion…
As if the world needed another dangerous and volatile factor in the mix of looming economic downturn.
Unfunded liabilities for pensions have been a problem for a while now, but as investors continue to face fleeting returns, many states and cities are facing the music… and when it stops, there won’t be enough money to go around.
Someone will lose their savings, their standard of living, their retirement and maybe their future. Others will be taxed to death to clean up the mess of the many places were the system is cracked, fissured and falling apart.