Tag: CA

Catherine Austin Fitts Explains the Cabal’s Land and Real Estate Stealing Tactics

Guest post by Sasha Latypova

Link to video on Bitchute

Catherine Austin Fitts is a legend that needs no introduction. She has an incredible amount of knowledge and experience, both as an investment banker and working in government, and then being prosecuted by the government (former Assistant Secretary of Housing) for trying to uncover and fight corruption. She is currently the publisher of the Solari Report.

I set up this conversation because I wanted to learn about the tactics that the criminal mafia posing as US federal and state governments are currently using against the people. We focus on the US, but many of my readers can probably recognize these tactics being applied all over the world. The goal of the criminal cabal is well advertised: “save the planet, reduce carbon” by which they mean “we need all the real assets and resources for ourselves, and fewer of you plebs around”.

Continue reading “Catherine Austin Fitts Explains the Cabal’s Land and Real Estate Stealing Tactics”

UNTIL DEBT DO US PART

At least I don’t live in Illinois. My household share of the gold plated pensions owed to PA government workers and teachers is $6,200. But it is only rising by $900 per year, or 16% annually. Think about that for a second. The economy has been barely growing by 2% over the last six years. Wage increases for taxpayers have been 2% annually. But, our obligation to pay government drone pensions is going up by 16% per year. None of these costs show up in the “balanced” budgets passed every year. The feckless spine deficient corrupt politicians in these states don’t have the balls to tell the truth. There is absolutely no mathematical possibility that these pension obligations are honored. It’s just a matter of when all these states pull a Detroit and declare bankruptcy.

The fine people of Illinois each have a $19,000 obligation per household to pay the gold plated pensions of teachers and municipal workers. Message to America – don’t move to Illinois.

 

Chart of the Day

Just the Facts, Ma’am

October 10, 2014:  In 2013, pension debt for Illinois, California, Texas, Pennsylvania, Massachusetts, and New York increased by at least four billion dollars per state. From 2012 to 2013, these states had the largest pension debt increase across the 50 states.

State government officials are required to balance their budgets. Instead, they accumulate debt by hiding retirement costs  on their ‘credit cards,’ accumulating debt for future taxpayers to cover.

 

 State  2012 Pension Debt   2013 Pension Debt  Increase
 Illinois

$94.58B

$100.5B

$5.92B
 California

$53.44B

$59.43B

$5.99B
 Texas

$31.64B

$35.86B

$4.22B
 Pennsylvania

$29.26B

$34.02B

$4.76B
 Massachusetts

$23.95B

$30.26B

$6.31B
 New York

$8.75B

$16.99B

$8.24B

Clearly, the requirements for a balanced budget are not working.  All 50 states hide retirement debt from their citizens and legislators, in footnotes and external reports, making it difficult for

 

  • Legislators to work on sustainable options to reduce conflicts between current spending and pension funding
  • Citizens to participate knowledgeably in their government and hold their elected officials accountable

To prevent governments from accumulating “credit card” debt for today’s services that taxpayers will have to pay for in the future, Truth in Accounting believes states should adopt ‘FACT – Based Budgeting’  (Full Accrual and Calculation Techniques).

 

  • FACT – based budgeting requires each year’s budget to include estimates of year-end debt, as well as current year spending
  • Both legislators and citizens would have timely, transparent, truthful information to evaluate spending proposals
  • See page 12 and Appendix IX of Truth in Accounting’s 2013 Financial State of the States for more information

See CA, IL, MA, NY, PA and TX Pension Debt 2009-2013  – check your state by selecting ‘Edit Chart Criteria’ at the bottom of this chart. Then, select your state on the next page and scroll down to ‘Generate Chart.’

PENSION FIBS

There are only three possibilities regarding these pension obligations. You agree to let them double your real estate taxes, government employees agree to take cuts or the States declare bankruptcy and default on their promises. Which do you think will happen?

Chart of the Day

IL, CA, NJ, TX and PA Worst at Keeping Pension Promises

September 12, 2014:  IL, CA, NJ, TX and PA are the five worst states at keeping their pension promises. These states continue to increase their pension debt instead of setting aside enough money to pay retired employees.

State

2012 Unfunded Pension Benefits Due

2013 Unfunded Pension Benefits Due

Illinois

$94.6B

$100.5B

California

$53.4B

$59.4B

New Jersey

$34.7B

$37.6B

Texas

$31.6B

$35.9B

Pennsylvania

$29.3B

$34.0B

 

·      These States promise their employees pensions but do not set enough money aside to pay them

·      Pensions should be fully funded yearly, since they are part of employee compensation.

·      Future taxpayers will be responsible for paying for these debts – for services they never received

 

Government accounting rules allow these states (and others) hide much of their pension funding problem from public view.  See Hidden Pension Debt: CA, IL, NJ, PA, TX 2009-2013  Check your state by selecting ‘Edit Chart Criteria’ below the chart, select your state, scroll down and ‘Generate Chart.’   READ MORE