Financial collapse is not a #doomsday #conspiracy theory; it is mathematical inevitability

The upshot of all this is that if you are counting on a government pension to pay your bills during your retirement years, you may need to write that off because it probably won't be there for very much longer.

This is true not just for local and state government workers, but also for federal government workers. Yep, all those TSA agents, DHS workers and FDA bureaucrats are going to see their own pensions stolen, and I can't say that I'm shedding tears over TSA goons not getting their pensions. ("Pedophilia pensions!")

"I mean the statistics in California are staggering," said Sen. Rand Paul. "I think there's over 100,000 people there getting over $100,000 a year in retirement. You got police chiefs in medium-sized cities getting $350,000 a year for a salary. It's become untenable. But the main thing is we cannot send a signal from the federal government that cities and states are going to be too big to fail."

Where all this really hurts, though, is at the local level. In most cities, people like firefighters, cops and school teachers are wildly under-paid. They dedicate their lives to serving the community, often putting their own lives at risk in the process. Stealing their pensions is especially malicious given how much they have sacrificed to earn them.

But there's nothing that can be done to save them at this point. The mathematics are already in motion and unstoppable. Nearly all big-city pension obligation projections have been based on the false assumption that endless economic growth would provide a never-ending tax base from which pension obligations could be paid. That assumption, however, was a willful delusion in which city managers and bureaucrats happily engaged.

There is a day of reckoning coming for America, and it's going to be a day of nationwide outrage as pensions all across the country are confiscated or destroyed in a cascading chain of bankruptcies. At the same time, the federal government will no doubt embark on a Cyprus-style private bank account confiscation program that steals private wealth from the American people. Wiring money out of the country will be made illegal, and all forms of wealth -- including retirement accounts -- will be subject to government confiscation.

At that point, only people who have gone to great lengths to protect their assets will have anything left. What holds value in such a scenario? Land, bullets, rifles, hand tools, stored food, silver coins, gold coins, iodine disinfectants and antibiotics, to name a few obvious items. Skills and education also rank high.

Detroit's bankruptcy tells us the era of financial demise has begun. Now it's only a matter of time before what happened to Detroit spreads to Los Angeles, Chicago, Philadelphia, Boston and other large U.S. cities. It is no coincidence that DHS and the feds are now routinely running paramilitary police state training exercises in high-density urban areas.

As bad as pensions are, unfunded health care liabilities are far worse

For the real story on all this, take everything you've just read about unfunded pensions and dig that hole ten times deeper. Because the unfunded health care obligations are ten times worse.

According to the Pew research document at www.Pewstates.org , a fiscal assessment of 61 large U.S. cities revealed that while pensions are 74% funded, retiree health care liabilities are only 6% funded.

You read that correctly: cities have only saved 6 cents on the dollar for what they're going to need to pay the health care costs of retirees. And that's assuming health care costs don't keep skyrocketing thanks to hare-brained monopoly programs like Obamacare which lock in guaranteed monopolies to the drug companies, cancer centers and hospitals that now extract nearly one out of every four dollars of economic activity generated in across America.

Here's the chart:

What this means in reality is that health care obligations will have to be abandoned. So at the same time cities confiscate pension funds, they will also abandon health care obligations.

For many retirees, this means they will lose their pensions and their health care benefits at the same time.

This is what will ultimately lead to widespread riots in the streets followed by the police state crackdown that the federal government has been planning with its purchase of billions of rounds of ammunition, thousands of armored assault vehicles, full-auto assault rifles and other equipment to be used on the streets of America. The IRS is now training with AR-15s in order to engage American taxpayers at gunpoint. Even the Wall Street Journal now admits that the militarization of American police is wildly out of control, saying:

Law-enforcement agencies across the U.S., at every level of government, have been blurring the line between police officer and soldier. Driven by martial rhetoric and the availability of military-style equipment -- from bayonets and M-16 rifles to armored personnel carriers -- American police forces have often adopted a mind-set previously reserved for the battlefield.

This also tells you why government is secretly begging for a mass pandemic to wipe out all the elderly people in America: it would save cities and states from bankruptcy! No wonder government loves to promote Big Pharma -- it's the fastest way to kill people off and therefore not have to pay their retirement benefits. Longevity is the enemy of government because the longer you live, the more you collect in benefits. The sooner you die, the more you help government meet its unfunded financial obligations.

I wouldn't be surprised to find the White House one day running a new public relations campaign with the message "Kill yourself. It's good for America."

Or "Suicide is patriotic."

Sources for this story include:
1) My memory, experience, observations and reasoning.

2) http://www.pewtrusts.org/uploadedFiles/wwwpewtrustsorg/Reports/Retire...

3) http://www.forbes.com/sites/joelkotkin/2013/07/12/the-truce-that-coul...

4) http://www.nber.org/digest/mar11/w16453.html

5) http://www.theatlanticcities.com/jobs-and-economy/2012/09/next-big-fi...

6) http://www.breitbart.com/Big-Government/2013/07/19/Exclusive-Rand-Pau...