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Welcome To The Third World, Part 23: Honest Pension Returns Equal Mass-Bankruptcy

by John Rubino, Dollar Collapse:

Last year the California Public Employees’ Retirement System, otherwise known as Calpers, cut the expected return on the funds it invests for plan beneficiaries from 7.5% to 7%. Seems like a modest change that should have a correspondingly limited impact on all concerned, right? Alas, that’s not how […]

Welcome To The Third World, Part 22: Whites Are Dying “Deaths Of Despair”

by John Rubino, Dollar Collapse:

“White privilege” is such a commonly accepted pillar of American society that it’s become material for comics. As Chris Rock tells his audience in the following clip, “There ain’t a white man in this room who would change places with me. And I’m rich!”

But what if that […]

Welcome to the Third World, Part 21: State Schools Scale Waaayyy Back

by John Rubino, Dollar Collapse:

Readers of a certain age will remember when state universities were a bit spartan but extremely cheap. Middle class families could send their kids to Ohio State or UCLA without taking out a second mortgage, and the kids could focus on classes and fun instead of juggling multiple […]

Welcome To The Third World, Part 21: This Pension Thing Is About To Get Real

by John Rubino, Dollar Collapse:

The problem with police officers and firefighters isn’t a public-sector problem; it isn’t a problem with government; it’s a problem with the entire society. It’s what happened on Wall Street in the run-up to the subprime crisis. It’s a problem of people taking what they can, just because […]