As I’ve said repeatedly for the past five years, “What can’t be paid, won’t be paid.” The government is broke; many pension funds are broke; more financial entities that have made extensive “promises to pay” will follow soon enough.
Whatchu gonna do? You can’t squeeze blood out of a stone, or currency out of bankrupt pension plans. You can yell, scream and howl, but if the currency’s not there, it can’t be paid and won’t be paid. Many of you who’ve trusted in other people to manage pensions and provide for your retirement are heading for a time of betrayal, stress, rage, regret and sorrow.