[KR919] Keiser Report: Pensions Going Bankrupt

In this episode of the Keiser Report, we discuss retirement: the ugliest word in the English language, which, nevertheless, many Americans will no longer have to encounter. In the second half, Max interviews Constantin Gurdgiev, Professor of Finance at Middlebury Institute of International Studies, about the debt situation in Europe and the Irish water fiasco.

142 comments on “[KR919] Keiser Report: Pensions Going Bankrupt
  1. Youri Carma says:

    MACRO ANALYTICS – 05 19 16 – Mish’s Monthly Macro – May – w/Mish Shedlock https://www.youtube.com/watch?v=NXXf-toe5Zs

    Squirrel at Mish’s climbing a tree and waving his tail 🙂 at 20:00

  2. poopysnot says:

    JIM GRANT – If You Want to Make Money, Go to Scary Places
    https://www.youtube.com/watch?v=V4PNe6NTuBg
    John Mauldin – May 27, 2016

    JOHN EMBRY – Explosive Move In Silver Will Dwarf Silver’s Move In The Late 1970’s
    https://www.youtube.com/watch?v=Q1vyMmGNy2c
    Shadow of Truth – May 27, 2016

    DAVID STOCKMAN Interview —- 30 Years Of Living Beyond Our Means
    https://www.youtube.com/watch?v=hNtY-3MfrMU
    Fox Business – May 25, 2016

  3. Youri Carma says:

    Ex-Barclays Trader Disrupts Libor Testimony Shouting ‘No’
    http://www.bloomberg.com/news/articles/2016-05-27/ex-barclays-trader-disrupts-libor-testimony-with-shouts-of-no

    London First-Time Homebuyers Need Record Deposit Savings: Chart
    http://www.bloomberg.com/news/articles/2016-05-27/london-first-time-homebuyers-need-record-deposit-savings-chart

    Saudi Arabia Has a Plan B to Try to Stop Iran’s Economic Rise – The kingdom is mobilizing its Gulf allies to make sure that Iran’s opening-up to the global economy doesn’t go smoothly http://www.bloomberg.com/news/articles/2016-05-25/a-rearguard-action-by-saudi-arabia-to-stop-iran-s-economic-rise

    Miner Sees Silver Price Surging Ninefold as Global Gadgets Boom
    http://www.bloomberg.com/news/articles/2016-05-26/miner-sees-silver-price-surging-ninefold-as-global-gadgets-boom

  4. poopysnot says:

    China’s ICBC to buy precious metal vault in London
    http://en.people.cn/n3/2016/0526/c90000-9063886.html
    May 26, 2016

    Chinese Load Up on Gold ETFs
    http://www.theepochtimes.com/n3/2077798-chinese-load-up-on-gold-etfs/
    May 27, 2016

    Saudi offers more oil to Asian clients ahead of OPEC meet
    http://www.reuters.com/article/us-saudi-asia-oil-idUSKCN0YI17G
    May 27, 2016

  5. poopysnot says:

    Steve's happy because Gramma slipped him $20 for his birthday. pic.twitter.com/USFxqgetVr— Rudolf E. Havenstein (@RudyHavenstein) May 27, 2016

    lol

  6. Youri Carma says:

    Merkel Allies Urge Russia Sanctions Easing as G-7 Stands Firm
    http://www.bloomberg.com/news/articles/2016-05-27/merkel-allies-urge-russia-sanctions-easing-as-g-7-stands-firm

    Ukraine Says Russian Aggression Means It Can’t Repay Bonds
    http://www.bloomberg.com/news/articles/2016-05-27/ukraine-says-russian-aggression-means-it-can-t-repay-3-billion

    Mobile-Phone Link to Cancer Stirred Up by Rat Study Findings
    http://www.bloomberg.com/news/articles/2016-05-27/mobile-phone-link-to-cancer-stirred-up-by-report-on-rat-study

    Oil’s Brief $50 Breach Doesn’t Mean Much Unless It Sticks Around – Excpectations for energy related defaults is about 20% this year http://www.bloomberg.com/news/articles/2016-05-26/oil-s-brief-50-breach-doesn-t-mean-much-unless-it-sticks-around

  7. swell says:

    Lina Esco explores body image travesties in Free the Nipple. She laments the constant censorship battles throughout her struggles to make the film.

    Another nudist, Ray Lovato, is a former owner of the Palm Springs nudist resort in the eye of the storm that banned children in 2012 after the FBI visited the new owners with an official diatribe about nudist resorts and children.

    http://bareplatypus.blogspot.com/2012/03/we-at-bare-platypus-want-to-make-few.html

    Lovato is a script writer said to have a nudist script in the works.

    http://www.desertsun.com/story/news/2016/01/15/ray-lovato-nudist-resort-owner-leads-desert-screenwriters-group/78657108/

    https://desertscreenwritersgroup.com/

    Whether or not Lovato has the grit to address the anti-nudist pogrom the way that Esco made her remonstrations, remains uncertain. It might linger in limbo like Underware, for some time.

    But speaking of which I was at least heartened when corporate giant Seagate showed an element of solidarity with their exceptional brave moral courage back on May 6th:

    https://twitter.com/Seagate/status/728539832864124933

    But the whole body shaming in general and body image problems trace directly to the government.

    http://www.justjaredjr.com/2016/05/27/gymnast-aly-raisman-promotes-body-positivity-acceptance-in-reebok-campaign-sneak-peek/

    Government’s insistence to monitor emails is to troll against sexting and nudies, in order to crush the human spirit.

    Wilhelm Reich was really on to something.

  8. Youri Carma says:

    OIL

    The Consequences Of $50 Oil
    http://www.zerohedge.com/news/2016-05-27/consequences-50-oil

    This Week’s Main News From The Oil Sector
    http://www.zerohedge.com/news/2016-05-27/these-were-main-events-oil-sector-week

    Oil heading lower even if OPEC cuts production – IBTimes
    https://www.youtube.com/watch?v=85K5xuYWIFo

    Oil’s Brief $50 Breach Doesn’t Mean Much Unless It Sticks Around
    http://www.bloomberg.com/news/articles/2016-05-26/oil-s-brief-50-breach-doesn-t-mean-much-unless-it-sticks-around

    Expectations for energy related defaults is about 20% this year, 37% accumulatively.

    Oil Trims Third Weekly Gain Amid Return of Canadian Crude Supply
    http://www.bloomberg.com/news/articles/2016-05-27/oil-set-for-third-weekly-gain-as-supplies-fall-amid-disruptions

  9. microhousehold says:

    Wilhelm Reich had a point.

    First time I came across his work it freaked me out.
    As time moves on it seems to ring a few bells.

    Never liked the fact, that kinect can detect, scary stuff indeed.
    4 Example.

    HAARP can erect,etc…
    nuff said..

  10. Youri Carma says:

    Clif High Latest 2016 Alta Report Predicts Massive Global Cataclysms – Bank Holiday – Megaquakes, May 9, 2016 Gwyneth Eger https://www.youtube.com/watch?v=QmJqc0flqIU

    clif high, Web Bot Report, 2016 Predictions, Nuclear Fallout, Megaquakes, Epidemics, Weather Wars, May 10, 2016 Gwyneth Eger https://www.youtube.com/watch?v=apOrLUaVI6U

  11. Youri Carma says:

    Cliff was right again:

    Bitcoin Surges To 2016 Highs On Rising Chinese Demand; Decouples From Gold http://www.zerohedge.com/news/2016-05-27/bitcoin-surges-2016-highs-rising-chinese-demand-decouples-gold

  12. YoLithos says:

    One of the “laws” of inflation is that people’s wages *never* go up faster than the real inflation. Only those on the executive level on up get real raises. Divergence is the law. And they make a killing by front-running inflation. Usually through loans and acquisitions at lower rates and prices when higher ones are already locked into the system – partly through their own actions. Real production becomes unimportant. Only leverage seeding counts. No contract? No problem. A signed unsecured contract intentio n will do nicely – for the right “valuable clients”. Any wage increases for the average worker are always a total illusion. They are usually just slightly lower steps in the regular deceases, er, decreases.

  13. YoLithos says:

    Resetting the US$ would allow government to ‘recall’ and exchange debts and funds in the ‘old’ currency for the new one. Or new ones. Aided by the possible requirement of having to declare the funds being converted. A fact that several others governments in the same situation have taken due advantage of in the past. When necessary, or expedient. Money is too important to be left to bankers. Finance, completely so.

  14. YoLithos says:

    Highwaymen robbers have ideology? They were said to have nothing but interests.

  15. YoLithos says:

    Hearing that Ireland has a reputation problem among large politicians and executives is like hearing that Victorian rapists deride the victim afterwards for ‘lacking in morals’. Fortunately for them, Ireland, Greece, Spain, Italy and the others are still too dumb and browbeaten to team up and resist them. Some part of them strangely stiil wants to seem ‘respectable’ to their eyes. “Wuthering heights”? “Pride and Prejudice”? “The Comedians”? Not romance but horror. Both Gothic and colonial.

  16. YoLithos says:

    It seems that the opening for a ‘Varoufakis’ position on the Sanders ticket has just been filled by Bill McKibben. Bill Black possibly just dodged a nasty bullet, there. I hope he never forgets to apply shark repellent and the other stuff.

  17. bbrebozo says:

    I am quite intoxicated now and I give you this,
    https://www.youtube.com/watch?v=VLxuA-6lwbE

  18. jogador says:

    Losing Ground In Flyover America

    The intensifying global deflation/recession lapping upon these shores gets more ominous by the day. Yet that’s only the half of it.

    https://www.lewrockwell.com/2016/05/david-stockman/economic-war-normal-americans/

    Google reveals top misspelled word in each state

    People in Arizona and New Hampshire struggled with the word “diarrhea,” while people in Massachusetts often looked up how to spell “Massachusetts.” Nevadans were unsure of the word “cousin.”

    http://wwlp.com/2016/05/27/google-reveals-top-misspelled-word-in-each-state/

    Memorial Day — A Time for Reflection and Honor

    Sacrifices are not made solely by those who serve …

    http://www.westernjournalism.com/memorial-day-time-reflection-honor/

  19. jogador says:

    Putin says Romania, Poland may now be in Russia’s cross-hairs

    Russian President Vladimir Putin on Friday warned Romania and Poland they could find themselves in the sights of Russian rockets because they are hosting elements of a U.S. missile shield that Moscow considers a threat to its security.

    http://www.reuters.com/article/us-russia-europe-shield-idUSKCN0YI2ER

    Democrats pile on Bernie Sanders over “bulls***” Donald Trump debate

    http://www.cbsnews.com/news/democrats-pile-on-bernie-sanders-over-bulls-donald-trump-debate/

    Federal Reserve Admits that Fed Policy Is Increasing Inequality

    http://www.washingtonsblog.com/2016/05/federal-reserve-bank-st-louis-fed-policy-increasing-inequality.html

  20. jogador says:

    This Film Reveals the Cruel Dysfunction of the British Welfare System

    I, Daniel Blake by Ken Loach | Winner Palme D’Or – Cannes 2016

    http://www.vice.com/en_uk/read/this-film-reveals-the-cruel-dysfunction-of-the-british-welfare-system

    Heads Up Internet: Time to Kill Another Dangerous CFAA Bill

    The Computer Fraud and Abuse Act (CFAA), the federal “anti-hacking” statute, is long overdue for reform. The 1986 law—which was prompted in part by fear generated by the 1983 techno­thriller WarGames—is vague, draconian, and notoriously out of touch with how we use computers today. Unfortunately, Sens. Sheldon Whitehouse and Lindsey Graham are on a mission to make things worse. They’ve proposed (for the second time) legislation that fails to address any of the CFAA’s problems while simply creating more confusion. And they may try to sneak their proposal through as an amendment to the Email Privacy Act—the very same sneaky tactic they tried last year.

    Their latest proposal is ostensibly directed at stopping botnets. It’s even named it the “Botnet Prevention Act of 2016.” But the bill includes various provisions that go far beyond protecting against attacks by zombie computers:

    https://www.eff.org/deeplinks/2016/05/heads-internet-time-kill-another-dangerous-cfaa-bill

    A New Study Links Cell Phone Radiation to Cancer in Rats. Now What?

    http://motherboard.vice.com/read/cell-phone-radiation-gave-rats-cancer-now-what

  21. jogador says:

    Trump Declines Debate With ‘second place finisher’ Bernie

    Says he looks forward to debating winner of Democrat nomination

    http://www.infowars.com/trump-declines-debate-with-second-place-finisher-bernie/

    Bank of America’s Winning Excuse: We Didn’t Mean To

    A federal appeals court overturned a $1.3 billion judgement against Bank of America, ruling that good intentions at the outset shield bankers from fines for subsequent fraud.

    https://www.propublica.org/article/bank-of-americas-winning-excuse-we-didnt-mean-to

    Russia’s Next Super Weapon To Crush America in Combat Is…

    Russia has apparently conducted a successful test launch of its Nudol direct ascent anti-satellite missile. This is the second test of the new weapon, which is capable of destroying satellites in space. The weapon was apparently launched from the Plesetsk test launch facility north of Moscow.

    http://nationalinterest.org/blog/russias-next-super-weapon-crush-america-combat-16393

  22. jogador says:

    Black women are now the most educated group in America according to the National Center for Education Statistics.

    http://www.upworthy.com/black-women-are-now-americas-most-educated-group

    Sugar Identified as a Top Cause of the Global Cancer Epidemic

    http://healthycures.org/sugar-identified-as-a-top-cause-of-the-global-cancer-epidemic

    Islam should be taught in all German schools – Bavarian bishop

    https://www.rt.com/news/344594-islam-classes-german-schools/

  23. jogador says:

    New Survey: Over Two-Thirds of California Voters Oppose Asset Forfeiture

    http://blog.tenthamendmentcenter.com/2016/05/new-survey-over-two-thirds-of-california-voters-oppose-asset-forfeiture/

    Is It Time to Cancel the Rio Olympics? Health Experts Say Zika Risk Is Too High

    http://www.thefiscaltimes.com/2016/05/27/It-Time-Cancel-Rio-Olympics-Health-Experts-Say-Zika-Risk-Too-High

    Here’s Why the Airport Security Line is a Nightmare

    Last Wednesday, called to Congress to account for the longer security lines, Transportation Security Administration Administrator Peter V. Neffenger told the House Homeland Security Committee that record travel, understaffed checkpoints, and some policy changes aiming to reduce risk of terrorist attacks means that the problem will continue into the summer. House Homeland Security Committee Chairman Michael McCaul (R-Texas) told the committee that TSA is in a “crisis.”

    So what is going on with TSA? Well, a lot.

    http://www.motherjones.com/politics/2016/05/traveling-TSA-memorial-day-airport-security

  24. jogador says:

    Obama Drops F-Bomb During Hiroshima Visit

    “Do you think the United States was right to drop nuclear weapons on our country?” one reporter asked the president. “I think it’s a difficult issue, but when you consider the rise of fascism and the power that the Nazis had, we had to stop them at all costs. You guys just picked the wrong side. It happens. It’s happening in America right now. And if Donald Trump becomes president, I wouldn’t blame you guys for nuking us right back. We’d fucking deserve it” Obama responded.

    http://nationalreport.net/obama-drops-f-bomb-during-hiroshima-visit/

    The Two Things You Need to Know About Trump’s Energy Speech

    1. He thinks climate change is a hoax, and
    2. He would eliminate all of the gains President Obama has made on combating climate change (including canceling the Paris Climate agreement).

    http://www.washingtonmonthly.com/political-animal-a/2016_05/the_two_things_you_need_to_kno060677.php

    Is China’s Period of Strategic Opportunity Over?

    China’s growing assertiveness reflects the fear that its period of strategic opportunity is drawing to a close.

    http://thediplomat.com/2016/05/is-chinas-period-of-strategic-opportunity-over/

  25. jogador says:

    Americans, on Average, Gain Big from Trade with China

    http://econlog.econlib.org/archives/2016/05/the_rise_in_exp.html

    Democracies end when they are too democratic.

    And right now, America is a breeding ground for tyranny.

    http://nymag.com/daily/intelligencer/2016/04/america-tyranny-donald-trump.html

    Why China Debt Bulls are Mostly Wrong

    Myth #1: China has high savings rates.
    Myth #2: China does not owe foreign debt.
    Myth #3: GDP growth remains strong.
    Myth #4: China can lower its debt servicing cost to international norms to manage debt
    Myth #5: China should expand debt as a counter-cyclical tool to boost growth.
    Myth #6: China does not need to worry about bad debts as it can print money to buy bad debts.

    http://www.baldingsworld.com/2016/05/24/why-china-debt-bulls-are-mostly-wrong/

  26. jogador says:

    In Sweden, an Experiment Turns Shorter Workdays Into Bigger Gains

    Arturo Perez used to come home frazzled from his job as a caregiver at the Svartedalens nursing home. Eight-hour stretches of tending to residents with senility or Alzheimer’s would leave him sapped with little time to spend with his three children.

    But life changed when Svartedalens was selected for a Swedish experiment about the future of work. In a bid to improve well-being, employees were switched to a six-hour workday last year with no pay cut. Within a week, Mr. Perez was brimming with energy, and residents said the standard of care was higher.

    “What’s good is that we’re happy,” said Mr. Perez, a single father. “And a happy worker is a better worker.”

    http://www.nytimes.com/2016/05/21/business/international/in-sweden-an-experiment-turns-shorter-workdays-into-bigger-gains.html?

    How Far Is Europe Swinging to the Right?

    http://www.nytimes.com/interactive/2016/05/22/world/europe/europe-right-wing-austria-hungary.html?_r=1

    World Cities face growth and other challenges, 2026 about two thirds of GDP from cities up from half now

    http://nextbigfuture.com/2016/05/world-cities-face-growth-and-other.html

  27. jogador says:

    the best music!!! 🙂 because its today’s music!!! (2016)

    ♪♫

    Pumarosa – Priestess
    https://youtu.be/PLwJbfT05KM

  28. jogador says:

    oops that track on the previous post was from 2015, not the best lol

  29. poopysnot says:

    ALASDAIR MACLEOD – It’s Going the Other Way With A Vengeance: The Crucial Difference in Gold & Silver Markets
    https://www.youtube.com/watch?v=R4jaebqCCF4
    SilverDoctors – May 27, 2016

  30. poopysnot says:

    MAY 27 – NEWEST DATA STATES THAT LONDON IMPORTED 119 TONNES OF GOLD IN MARCH AND APRIL!! WHY? BECAUSE AS MYLCREEST SUGGESTS, THEY RAN OUT OF UNALLOCATED GOLD / WITH ONE DAY TO GO WE HAVE A HUGE 39,520 CONTRACTS STAND FOR JUNE GOLD DELIVERY / MAY GOLD HAS A HUGE 6.889 TONNES OF GOLD STANDING! JANET SUGGESTS THAT THE USA MUST RAISE RATES FOR AMMO IN CASE THE ECONOMY FALTERS AND THEY THEN CAN CUT RATES! ODDS OF A RATE RISE INCREASE DRAMATICALLY BUT ALSO INDICATES ONLY ONE RISE AND THEN IT ENDS
    https://harveyorganblog.com/2016/05/27/may-27newest-data-states-that-london-imported-119-tonnes-of-gold-in-march-and-april-why-because-as-mylcreest-suggests-they-ran-out-of-unallocated-goldwith-one-day-to-go-we-have-a-huge-39520-co/
    May 27, 2016

  31. Youri Carma says:

    La Valse des Monstres – Yann Tiersen
    https://www.youtube.com/watch?v=4VQwQzoGF_o

    Incredible Romani Singer & Accordion player
    https://www.youtube.com/watch?v=Fa6aK1mRITY

    ΑΛΕΞΙΟΥ ΧΑΡΙΣ ΜΙΑ ΕΙΝΑΙ Η ΟΥΣΙΑ
    Haris Alexiou – The Essence
    https://www.youtube.com/watch?v=MtGDGUHlFdM

    God, if only you were an alcoholic,
    Humanity would be rescued
    And while you were intoxicated,
    You would stab the grim reaper

    ZOH LORENTZOY ΣΥΡΤΑ ΚΑΛΑΜΑΤΙΑΝΑ ΤΡΑΓΟΥΔΙΑ
    https://www.youtube.com/watch?v=kGvT4ULtKf8

  32. Youri Carma says:

    Keiser Report: Right Price for Surrender (E920) with Rick Ackerman

    https://www.youtube.com/watch?v=2Q1XSrq1ZDY

  33. Youri Carma says:

    As Our Past Wars Are Glorified This Memorial Day Weekend, Give Some Thought To Our Prospects Against The Russians And Chinese In World War III http://www.paulcraigroberts.org/2016/05/28/as-our-past-wars-are-glorified-this-memorial-day-weekend-give-some-thought-to-our-prospects-against-the-russians-and-chinese-in-world-war-iii/

  34. YoLithos says:

    Fresh out of the oven. 2-Stage is the rage.

    The Tor Project says it created something it calls “a distributed RNG” (random number generator) that uses two or more computers to create random numbers and then blends their outputs together into a new random number.
    http://news.softpedia.com/news/tor-to-use-never-seen-before-distributed-rng-to-generate-truly-random-numbers-504461.shtml

  35. YoLithos says:

    “One, is such a silly number” – Isaac Asimov.

  36. microhousehold says:

    3 is a crowd.
    2 is not enough I guess.
    Put 2 magnets together, predictable.
    Now add the third one, life starts happening.
    Correct me when I am wrong.

  37. microhousehold says:

    Still not convinced if zero Kelvin really exists.
    Negative Kelvin is an interesting thought though.

  38. factgasm says:

    @Youri Karma.

    Excuse my ignorance but what is your avatar a picture of? I am quite baffled.

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