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The toxic dollar is bringing hell in a handbasket.<\/strong><\/em><\/p>\n<\/div>\n Along with the student loan debt bubble and other major financial factors, the looming pensions crisis is bound to be the death of us all.<\/p>\n Because it\u2019s based on a future promise to pay, it has long been a benefit dangled to solve strikes and union disputes \u2013 because, in the end, it is just more debt, whether private or public.<\/p>\n With tens of trillions in unfunded liabilities, the weight of an avalanche remains dangling over our heads. An aging population is cashing in on needed retirement benefits while the younger generations must support multiples that are unsustainable financially.<\/p>\n Somewhere between the retiree that needs clothing, food and lodging, and the bankruptcy of cities and state governments is the makings of the next economic crisis.<\/p>\n via AgainstCronyCapitalism.org<\/strong><\/a>:<\/p>\n This is one of those things that few will pay attention to until it\u2019s a 5 alarm fire. Then the policymakers will run around with their hands in the air saying they didn\u2019t see it coming.<\/strong><\/p>\n Of course they did. But addressing the problem is hard and will make people unhappy in the short term.<\/strong><\/p><\/blockquote>\n This blog pointed out the sad, and quiet fact that entities like the government of South Carolina are deep in debt over pensions. Everywhere there are failing social systems.<\/p>\n And somewhere, the rubber is going to met the road, and people are going to get hurt.<\/p>\n As SHTF previously reported<\/strong><\/a>:<\/p>\n In 2014 a new Federal law made it possible for pension funds to cut benefits for their recipients.<\/strong><\/p>\n [I]n October of [2015] the canary in the coal mine fell over and died when Illinois announced that the State was\u00a0posting pension payments because it\u00a0ran out of money.<\/p>\n Fast forward a few more months and things have been taken to the next level. The Central State pension fund in Kansas became the first such fund to take advantage of the 2014 law as 400,000 Americans who depend on\u00a0their monthly pension income<\/strong> to pay for such things as their mortgage, groceries and medical expenses saw an average of $1,400 per month sliced of their monthly benefits.<\/p><\/blockquote>\n Unfortunately, there may be no avoiding some very painful lapses in checks in the difficult years ahead.<\/p>\n As Market Watch reports<\/strong><\/a>:<\/p>\n But take a look South Carolina\u2019s government pension plan, which covers roughly 550,000 people<\/a> \u2014 one out of nine state residents \u2014 but is a staggering $24.1 billion in the red<\/a>.<\/strong><\/p>\n This is not a distant concern, but a system already in crisis.<\/p>\n