Armstrong Economics
COMMENT: Sir,
Thanks for all you do. As you have been teaching, do the math. What would be the financial implications of CALIEXIT be? In other words , how much would the rest of the country save if we voted California off the island? You have already enlightened us to the fact that they asked behind the curtain to overtake the 401ks of the rest of the country last year with 3 other states to support their failed state pension system.
Looking back at the previous paragraph, I just laughed out loud. The computer predicted the breakup of the US and I’m currently considering the effects on my wallet !
DK
REPLY: Yes. California is a complete black hole. The people do not even realize that government has been so corrupt, that every person in California owe $93,000 at the end of 2016 to cover state employee pensions. Back in 2015, Calpers, the State Pension system, sold out stocks and bought bonds because they thought the stock market would crash. They have been quietly supporting efforts in Congress to seize 401K pension plans and hand them to the States to manage. Their top two corrupt politicians would have had this through if Hillary won.
Cont....
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