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Thread: Chicago Police Pension Goes Bust

  1. #1
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    Chicago Police Pension Goes Bust

    We may end up seeing some long awaited anarchy.

    https://www.armstrongeconomics.com/w...ion-goes-bust/

    Chicago’s police pension fund won’t have enough money to pay benefits to retirees in 2021, according to a projection by Local Government Information Services (LGIS). At the end of 2020, LGIS estimates that the Policemen’s Annuity and Benefit Fund of Chicago will have less than $150 million in assets to pay $928 million promised to 14,133 retirees the following year.

    This is the fate of state and local pension funds. There is a storm gathering on the horizon and of course these state and local governments will be raising taxes to try to stay afloat. The system is collapsing and it is totally unsustainable. This is the very same crisis that destroyed the Roman Empire.



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  3. #2
    And when the enforcers go on strike/quit, they will bring in the military.

    This should get "interesting" fast.
    Flee the big cities and their nearby suburbs NOW.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  4. #3
    Illinois and California are in a race to the bottom with high taxes and unfunded pensions .
    Do something Danke

  5. #4
    Moar tickets.
    Quote Originally Posted by dannno View Post
    It's a balance between appeasing his supporters, appeasing the deep state and reaching his own goals.
    ~Resident Badgiraffe




  6. #5
    Quote Originally Posted by William Tell View Post
    Moar tickets.
    More highway robber--- errr.. confiscation of money without proof of a crime. Yeah, Civil forfeiture I guess they call it.
    Last edited by Dr.3D; 06-25-2017 at 10:35 PM.

  7. #6
    Time to privatize? It's worked so well for the prisons
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

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  8. #7
    Quote Originally Posted by Dr.3D View Post
    More highway robber--- errr.. confiscation of money without proof of a crime. Yeah, Civil forfeiture I guess they call it.
    Civil highway robbery. Stand and deliver, good sir, allow me to relieve you of your affects and valuables, if you would be so kind.
    Quote Originally Posted by dannno View Post
    It's a balance between appeasing his supporters, appeasing the deep state and reaching his own goals.
    ~Resident Badgiraffe




  9. #8



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  11. #9
    Quote Originally Posted by William Tell View Post
    Civil highway robbery. Stand and deliver, good sir, allow me to relieve you of your affects and valuables, if you would be so kind.
    The cops I have dealt with sounded more like "Your money or your life"
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  12. #10
    Quote Originally Posted by Swordsmyth View Post
    The cops I have dealt with sounded more like "Your money or your life"
    Yeah, that's criminal forfeiture.
    Quote Originally Posted by dannno View Post
    It's a balance between appeasing his supporters, appeasing the deep state and reaching his own goals.
    ~Resident Badgiraffe






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