Wednesday, September 9, 2015
I hadn't the time to pay much attention to it but I instantly knew why..
I explained it was the same reason Japan's stock market, the Nikkei 225 spiked a whopping 1,000 points in only 20 hours...
Japan's Prime Minister promised the scummy Japanese people who run their major corporations, banks and who are their heavy capital 'I' Investors that not only would he delay raising interest rates but committed to extend their version of QE for another three years.
But what can the little nation the US built up from scratch in 1945 to eventually overtake us in technology and which is ranked #2 in holding US Treasuries i.e. our debt load do?
They've been in 2+ decades long economic recession with no real end in sight so desperate times call for desperate little men with little wee-wees to make desperate decisions
But ehh.. What goes up, will come down just like the little brown monkey climbing upon the slippery pole
And to show I didn't just pull that example from thin air, the 2015 annual report from the Social Security Board of Trustees stated that the program’s disability component is in immediate trouble.
Data from the latest report show that the disability fund will be depleted as soon as next year (2016) and unable to pay full benefits to beneficiaries.
Thanks to millions of people flocking to claim disability right after the 2008 crash when they lost their jobs and then were unable to ever find new ones, he trust fund has been operating under deficits since 2009.
The Social Security Disability deficits had/have been financed by redeeming nonmarketable government securities that were accumulated over the years when the program was bringing in more revenue than was being paid out.
The Obama government then spent the surpluses on other government programs and credited the fund with the securities.
But because the securities are nonmarketable, the government had to use general federal revenues to “redeem” them once the DI (Disability Insurance) fund started to run deficits in order to cover the difference.
In other words, the surpluses never went back to the fund because the government diverted it to other areas.
In 1998, the fund paid out around $70 billion in benefits.
And as said before, thanks to many, many people pretending to be truly disabled so they could get a guaranteed check after their 99 weeks of unemployment benefits ended, as of 2014, the fund is paying out $142 billion, which is over double 1998 figures...
Somehow I can't imagine millions of people just Suddenly becoming permanently disabled in this digital computerize and robotic age where machines pretty much do all the hard work, if not outright replace the necessity of humans.
There sure better be..
Lots of Genuine, Sincere disabled people who need those monthly funds to survive and if that division of Social Security goes, it will wake people up to the reality of our economic situation in a way the powers who run the show don't want us to know..
And not even Dow 250,000 would quell the fear...
Name a mainstream news source anywhere in visual or print media discussing this topic or anything else that actually attempts to warn and/or protect its readers?
That is why as A&G enters year Six (Our origin date was Sept 6, 2010) we'll keep giving you the truth and its up to you to let others in on it by spreading the word and wake them from their sleepy slumber..
Posted by Susquehanna at Wednesday, September 09, 2015