Are you counting on that city, state, fed pension?

[lowbeyond]

Pera, and other states pensions. Well good luck with that.

You won't get it.

Fed pensions? What happens the next time they borrow from it and they find no one wants to buy tbills?

You won't get it

401k/403b/ira Yea whatever. That's a few pages in the tax code, a tax code that changes every year.

They take those first. Oh it probably won't be an outright confiscation. More likely it's SSv2. You are just rolled into it, you get govt bonds. Those that don't want to convert have to pay a fine/tax equal to allthe deferred tax plus and administrative fee of whatever. You can avoid the tax if you just go into the new SSv2 for the greater good.

You think that can't happen? Uh huh . it's tax law.

Ps don't look for the next bailout it's gonna be a bail in for the banks. Your deposits, which are basically unsecured loans to the bank, will be used to make them whole

Fdic? All those little signs and 40-50 billion bucks won't backstop anything close to the trillions in deposits

Can happen here, we are a nation of laws! Lol

The government would never confiscate your gold. Oh wait they did

Would never spy on every American, or wait they did

Would never take your hose and give it to a richer land developer in the hopes it may generate more taxes. Oh wait they already did

The list goes on and on.

[BPTactical]

Well your a warm glow on a frigid night.....





I am a PERA member and yes, it worries me.

[lowbeyond]

Sorry.

Just remember what is mathematically impossible won't happen.

Now of course you may get your money, but when a loaf of bread is 30 but, but the official govt says inflation is, and as been for the past x years is 0001%, does it matter?

Yea prolly not

Remember all the plans be it pensions , social security whatever, it's just promises.

Plan accordingly

[spqrzilla]

The "16 cents on the dollar" comment was taken out of context. There is no restructuring plan before the bankruptcy court at present.

[hatidua]

I recall hearing on the radio that Detroit's bankruptcy had been ruled legal while driving the other day. The thing that immediately crossed my mind was that other debt-laden cities must be salivating at the prospects for how this could clear the way for them to do something similar.