Debt Rattle Christmas Eve 2015
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NPC “Poli’s Theater, Washington, DC. Now playing: Edith Taliaferro in “Keep to the Right” 1920 • Half The Country Is Either Living In Poverty Or Damn
[See the full post at: Debt Rattle Christmas Eve 2015]While I do not agree with PCR on everything; he makes damn good points. This man (Trump) is not stupid or bought (from what I can tell); however, his stated positions on immigrants and the southern wall are disturbing.
But damn; I like his fearlessness and standing his ground when attacked; no matter how outrageous.
But in these things he’s dangerous. Hitler got elected on similar qualities and the US may be very vulnerable in its declining status on the world stage…
We’ll see, no?Has anyone figured the impact that will be caused by the millions of the baby boomers that must take minimum withdrawals from their pension funds?
You cannot keep retirement funds in your account indefinitely. You generally have to start taking withdrawals from your IRA, SIMPLE IRA, SEP IRA, or retirement plan account, (401k), when you reach age 70½. (aprox. $5,800/$100,000/yr)
Your required minimum distribution is the minimum amount you must withdraw from your account each year.Annual Minimum Payment Schedule
The federal government requires that holders of retirement income funds withdraw a minimum amount of retirement income from their RIFs each year, according to the following schedule:
Age 72 – 5.4% of the RIF BALANCE (aprox. $5,400/$100,000/yr)
https://www.indexmundi.com/canada/demographics_profile.html
Canada Demographics Profile 2014
65 years and over: 17.3% (male 2,670,482/female 3,348,434) (2014 est.)https://www.osfi-bsif.gc.ca/eng/oca-bac/ar-ra/oas-psv/pages/oas12.aspx#toc-ivb
Actuarial Report prepared as at 31 December 2012, on the pension plan established under the Old Age Security Act.https://www.osfi-bsif.gc.ca/Eng/oca-bac/ipr-rip/Pages/ar26.aspx
review of the 26th Actuarial Report on the Canada Pension PlanThe CPP assets totaled $175 billion at the end of 2012 and are projected to grow over the coming decades. The best-estimate real rate of return assumption in AR26, net of investment expenses, is 2.7% in 2013, rising slowly to an ultimate assumption of 4.0% in 2019 and later.
Merry Xmas
“Accordingly, what lies ahead is not history repeating itself in some timeless Keynesian economic cycle, but the last twenty years of madcap central bank money printing”. I find it interesting that the word “Keynesian” is repeated in a a derogatory manner, time and time again. We are obviously being manipulated to think that such an economic theory is unsound. When money printing is “madcap” then it is obviously wrong but imagine if money printing was used to improve a countries infrastructure instead of just giving it to Banks who do create inflation by mostly, in New Zealand’s case, lending it on housing. According to the B of E only 3% of all money in circulation is created by Government, the rest is by the
Banks. And the Banking industry wants to get rid of “cash” altogether so that only Banks create money. Now where is a country’s sovereignty when the power of money creation is handed over to privat enterprise completely. And that is being sold to us by telling us that this is the only way to stop “the Black Market” and “money laundering”. Nobody seems to look behind the spoken word.
Another example of the use of words to distort the facts is Aljazeera’s “Disturbingly more journalists were murdered in targeted killings in Iraq than died in combat-related circumstances, according to the group Committee to Protect Journalists.” How much more telling if those words had said “Disturbingly the US murders more journalists in targeted killings in Irag than died in combat related circumstances……etc etc.
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