[Pictured: Don't get bit by the final bear market that will end a lot of things as we know it, caused by the pension system.]On May 3, 2007, I blogged a post asking if the sub prime housing market was about to cause a U.S. recession. The rest is history and Zuma Dogg readers and TV watchers know that all of this economic meltdown and firings and loss of services and pending bankruptcy was predicted every step of the way with shocking and depressing accuracy. I urged all readers, friends and family to have all money out of the stock market BY December 31, 2007. When the market opened on Jan 3, 2008, it had it's worst opening, followed by it's worst month in history. And again, the rest is history.
Something else that caught my attention, while researching the L.A.'s Grand Ave Project, was a problem with the investment of pension money in this risky and shady project.
That caused me to ask a few questions with the right people, and ZD came to the conclusion that the pension money was at risk, when I came to the conclusion that the stock market was going to come crashing down.
Turns out, it was announced recently, that the City of Los Angeles lost $7 billion on Wall Street and in risky real estate investments, and now it looks like the people in charge are all being investigated by SEC, NY & CA Attorney Generals.
Until now, I have been focusing on the corruption itself, and all that has cost us. And the City of Los Angeles will now be forced to declare bankruptcy over the actions of these greedy, selfish, desparate cowards who thought we wouldn't find out. And if we did, who cares, the people who did all of this back the politicians and are long time friends with the people they need to investigate.
But eventually, the bottom will be gotten to and arrests wil be made, just enough to cut if off, for now.
HOWEVER, there is a MUCH bigger problem than this: THE ENTIRE U.S. AND GLOBAL PENSION SYSTEM. (This guy Ron Burkle fucked it up all the way to Israel, that lap dance loving loser. No wonder he and Bill Clinton get along so well as pals.)
THE LOS ANGELES PENSION SYSTEM, CALIFORNIA PENSION SYSTEM, U.S. & GLOBAL PENSION SYSTEM HAS BECOME TOO BIG AND TOO GENEROUS.
I just did the numbers and added it all up and the Zuma Dogg BatCOMPUTER just spit out this depressing alert for everyone who thinks the economy has recovered and the stock market is headed to 10,000 anytime again soon...
THE PENSION PROBLEM IS BIGGER THAN THE HOUSING PROBLEM AND LOOK WHAT EFFECT THAT HAD ON THE ECONOMY!!!
AGAIN...
THE U.S. PENSION SYSTEM WILL CAUSE A BIGGER ECONOMIC PROBLEM THAN SUBPRIME/FORCLOSURE/HOUSING MARKET CRISIS!!!
YOU HAVE BEEN WARNED!
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