Bankruptcy
means there is no money for things like pensions. Experts offer faint hope that there is something that can be done; unions scream and shout; politicians fume and bluster but once insolvency sets in who is going to foot the bill for pensions etc.?
In the case of Sears there are 200,000 pensioners whose pensions are at risk. Sears is facing a $300Million retirement benefit shortfall. Who is going to make up this shortfall?
But Hey! That
is small potatoes when compared to provincial and federal debt.
The Ontario Liberal government has set a world record with the largest sub-sovereign debt of $300Billion and still they are digging deeper! We warned of our irrational debt crises July 2014 and still folks will only care when they are standing at the food bank!
Canadian Citizens are highly leveraged with debt to the point that increased interest rates WILL cause a potential disaster!
The Ontario Liberal government has set a world record with the largest sub-sovereign debt of $300Billion and still they are digging deeper! We warned of our irrational debt crises July 2014 and still folks will only care when they are standing at the food bank!
Canadian Citizens are highly leveraged with debt to the point that increased interest rates WILL cause a potential disaster!
There is one thing that you can bet your donkey on and that is that not one of the geniuses that create the mess will ever suffer the same loss you suffer!
The time
to worry about things like solvency and pensions is certainly NOT after the
‘Horse has left the barn’.
Sir Winston Churchill said that 'an appeaser is someone who feeds the crocodile hope it will eat him last'.
Sir Winston Churchill said that 'an appeaser is someone who feeds the crocodile hope it will eat him last'.
No comments:
Post a Comment