All Episodes
Previous Next
March 14, 2018 - Health Ranger - Mike Adams
33:35
The Coming Pension Collapse
| Copy link to current segment

Time Text
Welcome to the Health Ranger Report.
This is Mike Adams, your host, and I've been talking about this for many years.
If you're depending on a pension, your pension is going to be wiped out.
Now, I'm not trying to scare you or just make this about negative news.
I will talk about solutions, okay?
But I do want you to face reality here.
And I've been talking about this year after year after year.
And I do want to say on the record that at this point, the mainstream media has zero credibility.
They're just constantly lying all the time, fabricating false facts, if they call them that.
Just covering up all the important stories that you need to know.
Frankly, the mainstream media is dead.
They've committed credibility suicide with the 2016 election.
Don't believe a thing that you hear on CNN or NPR or New York Times or what have you.
They're run by morons, okay?
Truly.
I don't know any other way to say it.
I'm not trying to just name-call for the sake of it.
They're just incredibly stupid.
So if you want real information and real solutions, you've got to listen to people who know what they're talking about.
And it's not just me, but many, many others in the alternative news industry or independent news.
You know, we're intelligent.
We're passionate.
We do our research.
We try to tell the truth all the time.
We don't get 100% accuracy, obviously, but we try to, whereas CNN is deliberately trying to lie all the time.
That's their model.
That's their mission, almost.
It's insane.
Here's the truth you need to know that you will not hear reported anywhere in the establishment media or even in the establishment government.
You're not even going to hear Donald Trump talk about this one.
It's just too damn scary for most Americans.
I want to bring your attention to, believe it or not, a story in the New York Times, because occasionally they accidentally report the truth.
They stumble across it, and it does get out.
This is a story by Mary Williams Walsh, November 20, 2016.
And the title is Dallas Stares Down a Texas-Size Threat of Bankruptcy.
And the story describes the fact that Dallas, the city of Dallas, is on the verge of bankruptcy because it has made pension payout promises to its retirees and city employees and so on.
That are so outrageously lucrative that the city can't possibly pay for it all.
And it's now, listen to this, $1.1 billion short.
Yes, 1.1 billion.
And that's just to keep the system solvent.
Long term, it's tens of billions.
I mean, if you really project this out into the future, it's tens of billions of dollars exposure over the long haul.
And no one even talks about those numbers.
They just need 1.1 billion to not go bankrupt.
I mean, seriously, let me read you a few lines.
From the New York Times, it says, over six recent weeks, panicked Dallas retirees have pulled $220 million out of the fund.
And it was because, well, wait a minute, let me back up to the 1980s.
Okay, in the 1980s, the unions...
Which have, of course, destroyed much of the economic abundance in America.
The unions were able to negotiate this huge guaranteed benefit rise for the beneficiaries, you know, the retirees, the government workers.
And I don't remember exactly.
Oh, here it is.
It's a guaranteed 8.5% interest.
It was locked in.
I'm sorry, it's not the 80s.
It was 1993.
The New York Times says it's 1993.
State lawmakers sweetened police and firefighter pensions beyond their wildest dreams.
They added individual savings accounts paying 8.5% interest per year when workers reached the normal retirement age, which was then 50%.
So this guaranteed 8.5% interest rate.
Now, let's see.
Let's do the math here.
If you take the rule of 72 divided by 8.5, that means the payout that they owe receivers of this benefit doubles every eight and a half years.
So if the city owes a billion dollars this year in 8.5 years, they're going to owe two billion dollars.
Okay?
That's called the rule of 72.
For those of you who aren't familiar with that, you take 72 divided by the interest rate, that tells you how many years it takes for the money to double, or in this case, the entitlement debt to double.
Now, so this guarantee from 1993...
Welcome to my show!
It's obligations to the receivers of this benefit, right?
Well, of course, the stock market has not returned 8.5% interest year after year, especially when you consider the dot-com crash, which probably took a big chunk out of this, and then the subprime housing bubble popping, which probably also took another big chunk out of it, and then there's the big crash coming.
They're not even factoring in yet.
Oh, my God.
When that big crash hits in 2017, very likely, It can wipe out half, literally half, of the assets of these funds, the funds that are already on the verge of bankruptcy.
So...
Anyway, they had estimated that the pension fund was going to earn 9% annually on investments.
But guess what?
The assumptions were shaky, says the New York Times.
And after 23 years of unmet goals, Dallas had a hidden pension debt of $7 billion.
Why am I laughing?
Because...
Everybody's an idiot when it comes to long-term compounding interests and mathematics and debt.
Just everybody's an idiot.
Nobody wants to live in the real world.
They want to fake the numbers and kick the can down the road and live in their delusional fairytale lands.
Everybody's getting rich.
Everything's great.
Everything's awesome.
Yeah, really?
So now they've got $7 billion in unmet goals.
And believe me, it's much bigger than that.
That's just what they're...
That's the number that came out of a company called Siegel Consulting, which reported this in July, $7 billion that they can't meet.
So the pension trustees running this Dallas pension fund, and the same thing is going on all over the country, by the way.
If you live in Chicago, you're in an even worse situation than this, if you're on a Chicago government pension, by the way.
Way worse than this.
And the same thing's true in New York, you know, Miami, what, Los Angeles, of course, many, many big cities, probably Houston as well.
So back in Dallas, reports the New York Times, the pension trustees were trying to capture the 9% annual investment returns, so they opted for splashy and exotic land deals, buying villas in Hawaii and a luxury resort in Napa County, and land in Uruguay.
Oh my, so they spent, so these projects called for on-site inspections by the trustees.
In other words, this was a massive vacation scheme where these morons, well, maybe you should call them criminals at this point, the trustees running this Dallas pension fund, They set a rule that said we have to inspect the assets that we buy.
And then they would buy all these assets, these luxury resorts and villas in Hawaii and farmland in Australia.
And they would make stop-offs in places like Zurich and Italy.
And they were spending millions of dollars on what they call global investment tours.
Right?
So, they went into this, what's called the museum tower, a luxury condo high-rise.
And anyway, of course, this whole thing turned out to be a massive scam and they were blowing millions of dollars and living it up on essentially taxpayer money, right?
Just blowing out all the money, living the good life, you know, caviar in Italy, whatever.
And so, of course, this whole thing comes crashing down, and then the Dallas Morning News eventually published this big expose of all the real estate holdings, which all turned out to be these luxury resorts all over the world.
And this audit was done, and it showed that the investments were wildly overvalued.
Is anyone surprised about that?
So the FBI raided the offices of this company called CDK Realty Advisors, which is a company that apparently helped the pension fund manage its, quote, investment properties.
So they got raided by the FBI. This is just too juicy.
This is too good.
And so, let's see.
Then, of course, there were some legal things going on, blah, blah, blah.
But the bottom line is that they have no money.
And so, of course, these corrupt bureaucrats and politicians were living it up on taxpayer money while basically driving this pension fund into total bankruptcy.
So now, here's the case.
Here's the case.
You've got Texas, which is, you know, a huge economy.
Governor Abbott, who is a great governor, by the way, he's really amazing.
And Governor Abbott does not believe in bailing out corruption and bad investment decision-making on the part of stupid people.
Believe me, Governor Abbott does not believe in that kind of bail-out mentality.
And so you've got now the city of Dallas is going to go bankrupt, probably going to have to declare bankruptcy, and they're going to be asking the state of Texas for a bailout.
And I'm willing to bet you that Governor Abbott is going to say, hell no, solve your own problems, you corrupt morons running that fake pension fund, essentially, really.
Kind of a Ponzi scheme is what you could call it.
It's a Ponzi pension.
That's probably a better term for it.
PonziPension.com.
That would be a funny website.
So if they don't get the $1.1 billion, which, by the way, is almost the same amount of money as the entire Dallas budget.
You know, the annual budget of the entire city is about a billion dollars.
And so now, essentially, this pension fund is asking the city of Dallas to stop all spending for an entire year and hand over all that money to the pension fund.
Now, that's not going to happen, right?
Because you can't just lay off all the city workers for a whole year just to fund these promised retirement benefits to the retirees, right?
So it's not going to happen.
What it means is In the endgame here, they're going to have to declare bankruptcy, or if they don't, they're going to have to trim the benefits substantially.
I'm talking about at least a 50% reduction in the benefits, you know, in the payouts.
And they're probably going to get sued by a bunch of retirees.
This thing's going to drive up court costs and so on and so forth.
And then the big crash is going to come probably in 2017, maybe, at least within the next few years.
But very likely in 2017.
That's going to plummet this thing another 50%.
These people could be, the retirees could end up getting only 25 cents on the dollar.
Alright?
That's where this could end up.
And now, I say to you, How could they not see this coming?
If you can do math, you can see this coming.
This is like that movie, The Big Short.
You gotta watch the movie if you haven't seen it yet.
The intelligent people in the room all said, yeah, it's inevitable.
You know, these subprime mortgage, what do they call them?
These debt packages?
CDOs?
Is that what they were called?
These combinations of debt where you slice and dice all these bad mortgages and then you repackage them and you sell them as grade A, you know, A-plus investment vehicles.
Any person who could do math could look at that and say, this is going to crash.
This is going to fail because these are crap subprime mortgages.
These people aren't paying their mortgages.
The default rates are sky high.
The failure rates are sky high.
This whole thing is going to implode.
Right?
So, and of course, it did.
But before it did, everybody in the establishment was saying, no, everything's fine.
Everything's great.
Housing prices are going to go up forever.
Everybody's got a home, even people who can't afford one.
It's the American dream.
And, you know, the government was pushing the banks to, like, let people buy homes, even if they don't have the money to buy homes.
You got to let them buy homes because this is all about equality and racial justice and blah, blah, blah.
Economic justice, you name it.
They were pulling every card out of the pack at that point to try to push these subprime loans.
But again, if you were intelligent and you looked at it, and by the way, I did in 2006.
I warned about the subprime crash before it happened.
You can just look on Natural News.
Look at the coming collapse of the housing bubble.
I wrote those articles all back way before it happened.
And again, everybody was out there, oh, you're full of crap.
It's not going to happen.
You're going to be negative, blah, blah, blah.
And while they're living in their delusional fairytale land, and then, of course, they got the financial carpet ripped out from under them, and they lost everything.
I told them they were going to lose everything.
This is not rocket science.
This is basic math.
It's like fifth grade math, okay?
It's like if you can do, you know, four minus five equals negative one, then you can figure this stuff out.
You know that the pension people are not going to get their benefits.
It's fifth grade math.
It's probably more like third grade math, come to think of it.
What were we doing in third grade?
I don't know.
Learning how to write addition, subtraction, something like that.
I don't even remember.
But this is like third grade math, I'm pretty sure.
At least when I was in third grade.
This is not complicated stuff.
And so, look where this is going to go!
And it's happening everywhere across America.
This is the truly tragic, or maybe hilariously tragic, or tragically hilarious, I'm not sure, maybe it's just tragic, Part of all of this is that this is happening in every major city across America, almost, and it's also happening at the federal level on an even bigger scale, where we have $20 trillion in debt now.
Thank you, Obama, for doubling the debt since you took office.
I think when he took office it was like $9 trillion or something right around there.
Now it's almost $20, right?
Thank you, Obama.
Eight years you've racked up more debt than all the other presidents combined in the history of the country.
That's an amazing achievement.
And by the way, the stock market, which has just broken through 19,000, last time I looked at it, the Dow, I think that's the Dow, yeah, broke through 19,000, and everybody's saying, oh my god, it's a boom time!
This is amazing!
Yeah, guess what?
That's only because we have racked up debt.
It is the debt that has pushed up the stock market into bubble status.
It's the fiat currency, the money creation, the quantitative easing, as they call it.
And all this debt all over the place.
And there's debt upon debt.
There's derivative debt.
And then there's derivative debt on derivative debt on derivative debt.
We're talking about multiple layers of systemic debt all intertwined, all going to come down, collapsing simultaneously or virtually simultaneously when it begins to hit the fan.
And everybody's walking around like math doesn't work anymore.
Thinking, oh yeah, we can all just live on debt.
Money's going to go up forever.
All values, all assets go up forever, whether it's real estate or bonds or stocks or the value of the dollar.
They think everything goes up forever.
And so they're morons.
And they're adults.
I'm talking about people who are, you know, 50 years old and 35, whatever.
I mean, they're adults and they're still idiots.
So, I don't know.
I guess you've got to put them back through the third grade.
So, you teach them 4 minus 5 equals negative 1.
This is a really crucial concept for those of you running the city of Dallas.
Okay, put them back through freaking kindergarten, for God's sake.
These people need remedial math classes or something.
They just all want to pretend that nothing bad is going to happen.
This has been the big lie of the media and the establishment and the government at the local level and the federal level for a very, very long time.
Actually, since 1971, when Richard Nixon took the United States off the gold standard.
That's when he separated the U.S. dollar from the gold exchangeability.
And he called it, I think, protecting the dollar from the currency attacks or the currency traders or something.
He said, we're protecting the dollar by taking it off the gold standard.
And from there, it was just runaway money printing from 1971 all the way through today.
Print more money.
Bail out the banks.
Build more debt.
And then call it a boom.
Well, guess what?
Here comes the busts.
In fact, there's a great film I want you to watch.
It's called Boom, Bust, Boom.
Alright?
I think it's on Amazon Prime.
Check it out.
Boom, Bust, Boom.
That's it.
That's the title.
Wonderful film.
You've got to see it.
When you watch that film, if you really pay attention, you will understand what's coming.
You will understand why 4 minus 5 equals negative 1.
You will understand why human psychology has not changed and why the people of Dallas, the retirees, are not going to get their benefits.
They might get some of them, but they're not going to get anywhere close to what they think they're going to get.
And the same is true all over the country, New York, Chicago, whatever.
Look, a day is coming when all the people who worked for government are going to realize that it was the worst decision of their lives.
They're going to wake up and realize, holy crap, we worked for a bankrupt institution that cannot meet its obligations for retirement payouts.
And by the way, the whole country at some point is going to wake up and say, holy crap, we're not even going to get our Social Security benefits because they're worthless.
They're going to be paid out in hyperinflated dollars that are worth, you know, fractions of pennies.
The whole country is going to wake up to this realization one day.
You know, when I look at my paycheck and I see how much I'm paying in Social Security, I just write that off.
In my mind, I figure I'm never going to see that again.
Or if I do, it's going to be worthless anyway.
Who cares?
You know, what they say they're going to pay me when I'm, what, 67 or whatever the age is?
It's going to be worthless by that time.
Are you kidding me?
It's not even going to be a United States of America when I'm 67, at least not with 50 states in it.
The whole thing's not going to last that long.
Are you kidding me?
Look, the average empire lasts about 250 years, okay?
It's about 10 generations of people.
That's how long it takes for a new sort of civilization slash community to rise up and have a lot of pioneers that do great stuff, and they're innovators and entrepreneurs and they're builders, and they create a great society.
And then, you know, 10 generations later, it's all decadent people, you know, looking at Kim Kardashian's ass and watching porn, and I don't know what else people are doing.
I don't know, going to clubs or whatever they do.
I don't even know, you know, getting stoned, doing meth or whatever.
Ten generations later, society crumbles.
Okay.
And this has happened throughout human history over and over and over again.
It's all through decadence.
It's all because you end up with a generation of children who are just so completely disconnected and clueless and incredibly stupid.
They don't know history.
They don't know anything.
They don't understand mathematics.
They don't understand anything.
I mean, take an average person today, an average young person, a student who supports Hillary Clinton.
You set them down.
You say, name three things that Hillary Clinton did in terms of policy or action that you agree with, that you like.
They can't name a single one.
They have no idea who Hillary Clinton is.
They have no idea what her policies are.
They vote for people based on personalities.
It's all cultish, kind of cult worship behavior.
That's it.
Because they're morons.
And this is what happens after ten generations.
This is too much wealth, you see.
Too much abundance.
Life is too easy for these kids.
And so they end up taking society down with them.
I like to quote that theory by Hyman Minsky that talks about how A stable economy breeds instability.
And if you apply that to the cycles of the rise and fall of civilizations, it means that an abundance society breeds collapse.
Why?
Why does abundance turn to collapse?
Because abundance makes people lazy and complacent and pathetic.
And then they raise lacy, complacent, pathetic children who crash the system because they're completely clueless and it's the end of that civilization.
And then there are hard times.
And there's a lot of die-offs usually in world history as we've seen.
And then out of that rises a new civilization of the survivors, the adapters, you know, the people who are willing to be the pioneers and rebuild a new society.
And then that new society rises up and it has abundance for many, many generations because that's the cycle.
It's all a cycle.
There's nothing new under the sun, my friends.
And what you are living in right now is the collapse stage of the United States of America.
You're living in the collapse stage of global central banking.
The collapse will happen suddenly.
You will not be forewarned.
By the system, that is.
I mean, you're being forewarned right now.
But you're not going to have warnings from CNN. They're not going to tell you, oh, the whole system's falling apart.
Take your money out.
No.
That will never happen.
In fact, CNN will be reporting everything's awesome even as the system is collapsing.
Just look back at 2007, 2008, the housing crisis.
They denied reality as it was unfolding.
It was incredible.
So you're not going to be forewarned.
And if you don't have your money already diversified or your assets in the proper place, then you're going to lose almost everything.
You're going to lose your benefits.
You're going to lose your bank accounts.
You're going to lose your savings accounts.
You're going to lose Social Security.
You're going to lose it all.
You're going to lose your home probably because you won't be able to make payments to keep the home.
And what are you going to pay with?
What do you have?
I mean, the only stuff you're going to be able to keep is things that you own free and clear, which could include your home if you own it free and clear.
No loans whatsoever.
If you own land free and clear, if you own gold and silver free and clear, then you own it, right?
And you got to possess it too.
You got to have it in your hands or somewhere close by, you know, possession.
They say it's nine-tenths of the law, right?
So you better possess this stuff, not have it in a bank vault somewhere or owed to you by some contract by some guy somewhere else.
Really?
You think he's not going to take your gold and run?
Give me a break.
So you better have it.
You better have it in your possession.
Anyway, I'm just trying to give you a heads up here.
I'm going to wrap this up.
But I figure that people who listen to the Health Ranger Report There are people who don't want anything sugar-coated.
They just want the straight facts.
And the straight facts are, well, for starters, they're never discussed in the establishment media.
And secondly, the cycles of human civilization are predictable because they are cyclical.
They repeat over and over and over again.
And if you read history, you will know everything that's about to unfold.
Because what's happening now is just a repeat of the same spiral, the great arc, if you will, like geometry speaking, the great arc of human experience.
It spirals around.
And yeah, that spiral gets larger and larger and larger, but it keeps coming around to the same...
Sides, if you will, you know, the zero degrees, 90 degrees, 180, and so on.
It goes through the same phases.
Human psychology has not changed in thousands of years.
We today have the same minds, the same passions, the same potential for deception, the same dreams, the same everything as humans that lived 2,000 years ago, for example, or 5,000 years ago.
And those people...
Those people showed the cycle of human civilizations rise and fall exactly as we are seeing today.
Nothing has changed.
And it is delusional for modern people to think that they are different.
That, oh, we're more superior.
That we've figured it all out and we've stopped these cycles of boom and bust or the rise and fall, the collapse of civilization.
This is the great fairy tale that people tell themselves, especially people who live in big cities and earn big wages working for big news organizations.
And they're so snooty and arrogant.
And they think, oh, we figured everything out.
And they think the crash is never happening again.
They think America is never going to collapse overnight.
And their heads are full of delusions because they don't know anything.
They don't know anything.
They've never studied history.
They've never studied economics.
They've never studied human psychology.
They can't even do math.
You know, four minus five is a hard problem for these people.
They don't know anything.
They're living in their little delusional bubbles and then reporting that as if it were true.
And it's this bubble that is the danger to you.
If you believe in their bubble, you're going to get hurt bad by the crash when it comes.
So my advice to you is step outside the bubble and yet you can still be positive at the same time that you acknowledge that this is, we're in the ending phase of this civilization.
It's going to collapse.
It will collapse, but you can be positive in knowing that because you see it coming, you can take steps to survive and thrive, adapt and overcome.
And out of the other side of this, you can help rebuild the next great society, so to speak, that will bring abundance to many future generations.
That's the real goal.
Don't be delusional where you say nothing bad is ever going to happen.
Debt doesn't matter.
We can keep living on debt forever, blah, blah, blah.
No, those people are the ones that are going to be hurt the most because they didn't take steps to be prepared.
It's the people who face reality and acknowledge reality The real world, who are best prepared to deal with the real world, which will bring you unexpected events.
I mean, maybe unexpected is not the right word.
Catastrophic events, unexpected to the masses.
Catastrophic to everyone, but unexpected to the uninformed.
Whereas, for you, they may be very well expected.
I live my life in a way where I fully expect a complete collapse of the dollar, a complete collapse of the power grid, or the US government for that matter.
I don't hope for any of these things, but I plan for all of them to happen at any moment.
And I know that I can survive all those things.
And so should you.
So get ready.
Stay informed.
Don't listen to anything out of the mainstream media.
They're all complete morons.
Total fools.
They have no idea what they're talking about.
The Dow is going to crash so hard and so big.
We just don't know when.
We don't know the date.
And it might not be overnight.
It might take six months to really come down.
But at some point in the very near future, this debt bubble will crater.
I guarantee it.
I don't even have to guarantee it.
The laws of mathematics guarantee it.
Like, if you believe in gravity, then you know this market's coming down.
Because economic gravity exists, and all the debt must eventually come back down.
You can't keep growing a Ponzi scheme forever.
And that's what this is.
All this debt, the Federal Reserve, the money printing, it's a Ponzi scheme!
It's a giant, giant, global Ponzi scheme.
All Ponzi schemes end in catastrophe.
All fiat currencies end in collapse.
Let me say that one again because I want you to really understand that.
All fiat currencies end in collapse or catastrophe.
They all fail.
There are no exceptions of this throughout world history.
Every time a fiat currency was disconnected from gold or silver or some real asset, eventually it failed.
There is no exception to this.
I mean, there are currencies that are in the process of failing that are active today, like the dollar, for example, or the euro.
But they will fail, too.
It is inevitable.
It is inevitable.
It's like one plus one equals two, okay?
It's that simple.
They will fail.
When they do, don't be holding them, or you will lose all of it.
And I wish I could say this to the whole country.
I wish I could warn everybody about this.
But...
Frankly, most people aren't ready to hear this because they're psychologically fragile.
They are part of that pathetic, weak, fragile generation that's collapsing the system.
They can't handle it.
And a lot of them, frankly, are going to commit suicide or they're going to jump off tall buildings.
Lots of them.
It might be raining investment bankers when that day comes, when it hits the fan.
So, you know, be ready.
Be ready.
I don't know any other way to say it.
Only a few people are going to really be prepared for this in advance.
Only a few.
Probably not even one out of a thousand.
So if you are getting prepared, you are ahead of 999 people out of a thousand.
And that's something to celebrate.
That's something to be, you know, to be confident in.
The fact that you are ahead of everybody else.
Almost everybody in the world.
In fact, you're ahead of all the so-called billionaires.
They're going to lose all their billions.
Unless they have gold.
Unless they, you know, what are they going to have left holding after their stock price is cratered and they've got nothing?
Nothing.
So you're already ahead of them if you've got garden seeds, you know?
Seriously.
You have more wealth in your hands if you have a can of garden seeds than all the billionaires in the world who all they have is virtual fictional money in banking systems that are going to crater anyway.
I'd rather have garden seeds, frankly, and a good rifle, some ammo, some gold.
Some good soil rainwater collection.
You know, some chickens.
To me, that's wealth.
That's reality.
I'd much rather have that than own a billion dollars in stock in some BS.com company that's going to crash and burn anyway.
That's meaningless.
Give me a John Deere tractor, you know what I mean?
Give me like a good pair of boots and a nice warm jacket and a chainsaw to cut some firewood, you know, that kind of thing.
I'm ready to thrive.
Anyway, just sharing that all with you.
All right, I hope you're safe.
And if you're in Dallas, if you're part of the pension plan system there, you need to take your money out as quickly as possible, would be my advice to look into, to explore that possibility, because that system's cratering.
All right, take care.
Thanks for listening.
This is Mike Adams, the Health Ranger at HealthRangerReport.com.
Thank you.
You'll find superfoods, storable survival foods, nutritional supplements, and a full line of synthetic chemical-free body soaps, shampoos, and oral care products.
▲
Export Selection