Pension Ponzi

2011-10-31
 |  Business & Economics
Pension Ponzi

Author: Bill Tufts

Publisher: John Wiley & Sons

ISBN: 9781118099889

Category: Business & Economics

Page: 210

View: 651

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The vast majority of Canadians are blissfully unaware that everyman, woman and child in Canada now owes a $35,000 share ofgovernment debt and must pay this back, with interest! Makeno mistake, this debt will change our country and affect everysingle Canadian in the decades to come. You may think you haveplanned for your retirement and are safe, but the government mustfind a way to recover this borrowed money, and they can only dothat by raising your taxes and reducing your hard-earned benefits.How did this debt come about, and why can't we simply pay it off? Pension Ponzi lays the blame squarely at the feet of thepoliticians who refused to stand up to Canada's public sectorunions. The fact is Canada's public sector, which accounts for 20%of the workforce, has been grossly overpaid relative to theircounterparts in the private sector with cushy pensions paid forwith your taxes and new debt. There is no denying that thecountry does not have the financial resources to ensure that thenext generation of Canadians will have the same standard of livingas the ones before it-or to support our growing seniors population.Meeting our public sector pension obligations will break thecurrent social safety net that is a pillar of the Canadian way. Can you escape this bleak future? Can you afford to live longer?Nationally-recognized pension expert Bill Tufts and award-winningjournalist Lee Fairbanks explore how this catastrophe came aboutand then suggest ways that government can fix what's broken, andhow you as an individual can protect yourself from the financialcalamity that is about to engulf Canada.

Pension Ponzi

2011-01-25
 |  Business & Economics
Pension Ponzi

Author: Bill Tufts

Publisher: John Wiley & Sons

ISBN: 9781118098738

Category: Business & Economics

Page: 218

View: 235

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The vast majority of Canadians are blissfully unaware that every man, woman and child in Canada now owes a $35,000 share of government debt and must pay this back, with interest! Make no mistake, this debt will change our country and affect every single Canadian in the decades to come. You may think you have planned for your retirement and are safe, but the government must find a way to recover this borrowed money, and they can only do that by raising your taxes and reducing your hard-earned benefits. How did this debt come about, and why can't we simply pay it off? Pension Ponzi lays the blame squarely at the feet of the politicians who refused to stand up to Canada's public sector unions. The fact is Canada's public sector, which accounts for 20% of the workforce, has been grossly overpaid relative to their counterparts in the private sector with cushy pensions paid for with your taxes and new debt. There is no denying that the country does not have the financial resources to ensure that the next generation of Canadians will have the same standard of living as the ones before it-or to support our growing seniors population. Meeting our public sector pension obligations will break the current social safety net that is a pillar of the Canadian way. Can you escape this bleak future? Can you afford to live longer? Nationally-recognized pension expert Bill Tufts and award-winning journalist Lee Fairbanks explore how this catastrophe came about and then suggest ways that government can fix what's broken, and how you as an individual can protect yourself from the financial calamity that is about to engulf Canada.

Planet Ponzi

2012-02-02
 |  Business & Economics
Planet Ponzi

Author: Mitch Feierstein

Publisher: Random House

ISBN: 9781448109326

Category: Business & Economics

Page: 448

View: 771

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As the global economy struggles to avoid meltdown, so the greatest Ponzi scheme in history approaches its final death rattle. Politicians have stood by and watched the financial industry create a massive overhang of debt, a mountain of low quality assets – and ultimately, an economic disaster which has dwarfed all others. The Eurozone crisis and the LIBOR manipulaton scandal are just two symptoms of a much broader problem: one of vastly excessive debt, regulatory failure, a culture of deceit on Wall Street and the City of London, and governments that have promised their citizens far more than they can deliver. In Planet Ponzi, Mitch Feierstein tells you what’s happened, what will happen next and how to protect yourself and your family.

Pension Fund Capitalism

2022-04-07
 |  Business & Economics
Pension Fund Capitalism

Author: Leokadia Oręziak

Publisher: Routledge

ISBN: 9781000568530

Category: Business & Economics

Page: 182

View: 703

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This book examines the origins and consequences of so-called pension fund capitalism, which has spread around the world since 1981, when the pension system was completely privatized in Chile. The author highlights the driving forces behind the privatization of pensions, its forms and tools used in practice, and the risks and costs related to private pensions. The reader can also learn about the experiences of various developed countries (including the USA, Canada, Australia, and Germany), as well as Latin American (including Chile) and Eastern European countries, related to the privatization of pensions. Particular attention is paid to Poland as an example of a country where such privatization failed completely. This book provides a source of serious reflection on what this privatization has led to, what its real economic and social consequences are and what the likelihood is of reversing it and strengthening the public pension system. Academic researchers and students of economics and finance, as well as social and political sciences, will find the book invaluable in understanding the problems arising from the privatization of pensions. It will also be of interest to professionals: institutions that shape or influence economic and social policy, including political parties, trade unions, non-governmental organizations, the media, and institutions operating on the financial market.

Understanding Pensions

2004-08-28
 |  Business & Economics
Understanding Pensions

Author: Martin Sullivan

Publisher: Routledge

ISBN: 9781134480234

Category: Business & Economics

Page: 188

View: 789

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With birth rates falling at the same time that average age is rising in the developed world, the pensions time bomb is ticking louder than ever. Understanding how pensions work, their history, and their future is absolutely essential. This book thoroughly explains to readers the unique concepts and terminology which underpin pensions. Focusing firstly on the rationale for pensions and their evolution, before moving on to an explanation of the latest controversies regarding pensions. The glossary of pensions terminology in the final section of the book virtually ensures its place on many academic bookshelves. This timely volume is an extremely useful contribution to this important issue. Of use to policy-makers as much as to students and academics of finance and public policy, Understanding Pensions should prove to be a popular addition to the literature.

Pensions Under Attack

2001-02-07
 |  Business & Economics
Pensions Under Attack

Author: Monica Townson

Publisher: James Lorimer & Company

ISBN: 1550286943

Category: Business & Economics

Page: 294

View: 927

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Canada's aging population has raised cries of alarm from some quarters. Critics warn of a demographic time bomb waiting to explode and an age war over pensions as the baby boom generation starts to retire in the next decade. They say the answer is to get rid of public pension programs like the Canada Pension Plan and force people to contribute to their own personal savings plans instead. Will this spell disaster for the elderly, or is it a bold new idea for coping with rising costs? Monica Townson, a prominent independent economist, discusses the forces behind the push to privatize public pensions and looks at the likely impact of privatization on the financial security of futre seniors. She describes how Chile, under the Pinochet dictatorship, replaced its public pension plan with a forced savings scheme and became the darling of right-wing governments around the world, and how Britain, under Margaret Thatcher, introduced opting out of public pensions and triggered a major scandal involving some of the big names in the insurance industry. As the debate about pivatization heats up the new millennium, Pensions Under Attack provides the information needed to question the hidded agenda behind the current push to privatize public pensions. It will be a timely contribution to a discussion whose outcome affects the personal financial security of every Canadian.

The Politics of Ponzi Schemes

2020-12-31
 |  Political Science
The Politics of Ponzi Schemes

Author: Marie Springer

Publisher: Routledge

ISBN: 9780429869792

Category: Political Science

Page: 322

View: 754

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In the space of three years, from 2009 to 2012 Bernie Madoff, Tom Petters and R. Allen Stanford were all convicted for running multi-billion dollar Ponzi schemes. These three schemes alone have had the largest financial take in U.S. history. But what role does the economy and legislation play in the occurrences of Ponzi schemes? What is the nature of Ponzi schemes and what are their tools and mechanisms? What can we know about Ponzi perpetrators? Unraveling the answers to these questions (and many more), Marie Springer provides the first representative portrait of Ponzi schemes, their perpetrators, and their victims. Adopting a multidisciplinary approach, she begins by presenting an overview of different types of Ponzi schemes. She later explores perpetrators and victims of Ponzi schemes followed by a close examination of economic trends, regulatory changes, and the financial relationship with Ponzi schemes. Other key features include: • A non-technical overview of both offender based and offense-based approaches of studying this form of fraud. • Examples of Ponzi schemes and Ponzi schemers. • A wealth of descriptive statistics on known federal cases from the 1960s until the present to quantify this specific form of fraud. Broadening our understanding of Ponzi schemes as a form of white-collar crime, The Politics of Ponzi Schemes provides an excellent foundation for students and practitioners of public administration, banking, as well as investors, finance and accounting, law enforcement officers, legislators and regulators.

How They Got Away with it

2013
 |  Law
How They Got Away with it

Author: Susan Will

Publisher: Columbia University Press

ISBN: 9780231156912

Category: Law

Page: 386

View: 709

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A criminological investigation into the social, cultural, political & economic conditions that led to the 2008 financial collapse.

Fleeced!

2013-07-25
 |  Political Science
Fleeced!

Author: David Craig

Publisher: Hachette UK

ISBN: 9781472112248

Category: Political Science

Page: 304

View: 379

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Over the past decade some £3 trillion - equivalent to £50,000 for every person in Britain - has been taken from us by the ruling elites. Half was wasted in a splurge of poorly-managed public spending in the 'boom', while the other half evaporated in the 'bust' - siphoned off by city bonuses, vaporised by a collapse in pension savings and extorted to bail out the banking sector. In their explosive new book, David Craig and Matthew Elliott trace where the money has gone and who has become richer as a result. They name and shame the 'guilty': the incompetent bureaucrats that fail to deliver the services the taxpayer deserves; the multitude of ineffective regulators and watchdogs; the politicians that have betrayed our democracy and enriched themselves; and the self-serving and arrogant city bankers. Moreover, they calculate the enormous debt that awaits the British taxpayer as a result of our rulers' avarice and economic mismanagement. Fleeced! charts the greatest impoverishment and tax swindle of the public in British history.

How the West Was Lost

2011-02-15
 |  Business & Economics
How the West Was Lost

Author: Dambisa Moyo

Publisher: Farrar, Straus and Giroux

ISBN: 9781429988483

Category: Business & Economics

Page: 240

View: 714

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In How the West Was Lost, the New York Times bestselling author Dambisa Moyo offers a bold account of the decline of the West's economic supremacy. She examines how the West's flawed financial decisions have resulted in an economic and geopolitical seesaw that is now poised to tip in favor of the emerging world, especially China. Amid the hype of China's rise, however, the most important story of our generation is being pushed aside: America is not just in economic decline, but on course to become the biggest welfare state in the history of the West. The real danger is at home, Moyo claims. While some countries – such as Germany and Sweden – have deliberately engineered and financed welfare states, the United States risks turning itself into a bloated welfare state not because of ideology or a larger vision of economic justice, but out of economic desperation and short-sighted policymaking. How the West Was Lost reveals not only the economic myopia of the West but also the radical solutions that it needs to adopt in order to assert itself as a global economic power once again.

How to Kill an Elephant

2018-11-26
 |  Science
How to Kill an Elephant

Author: Robert Pins

Publisher: AuthorHouse

ISBN: 9781546296546

Category: Science

Page: 818

View: 738

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Global warming will either grab your interest or see you running in the opposite direction. But there is another way. It is a truth that is never realized, a truth that cannot surface once buried in the media and in politicians’ singlespeak, and a truth that is tantalizingly beyond your reach. How to Kill an Elephant exposes this truth for all to see, yet this is not a book about global warming; it is a book about human nature exposed for all its inadequacies. It starts with elephants, inexorably being driven to extinction by elephants of our own creation. Where does it finish? That’s for you to decide. Fancy a cane toad sandwich washed down with a cup of tea? Have you ever seen stalactites playing chess? You can expect a deadly serious read with a soupçon of levity and straightforward humour, because life really is too short not to indulge a little.

Unsustainable

2010-06-14
 |  Business & Economics
Unsustainable

Author: James MacDougald

Publisher: The Free Enterprise Nation

ISBN: 9780615376448

Category: Business & Economics

Page: 335

View: 440

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UNSUSTAINABLE is packed with information that is vital to every taxpaying American. It reveals shocking information that has long been hidden from the public. It exposes how governments at every level hide the pay and exorbitant pensions they provide to themselves and use accounting trickery to keep taxpayers from knowing of the enormous costs and long-term liabilities. MacDougald shows how the federal government keeps $106 trillion of debt hidden from taxpayers, and how state and local governments hide another $3 trillion. He exposes exactly how governments often trick taxpayers into agreeing to pay more and more taxes to "save schools" or "provide police protection" when the money really goes to more pay and bigger pensions. UNSUSTAINABLE details how public sector unions have become a "money pump," taking taxpayer dollars paid to public sector workers, then given as union dues, and then used for political contributions to politicians who will support the extraction of even more taxpayer dollars. The provocative and controversial book also documents and exposes the huge financial catastrophe that is about to befall Social Security, "baby boomers" and our younger workers and how it will threaten our economy for decades. UNSUSTAINABLE addresses the "jobs squeeze," detailing how the private sector lost 1.5 million jobs in the last decade even as government grew by 2 million. And it reveals how Congress passes laws that they know violate our Constitutional rights and gets away with it. It is a book that all Americans, no matter what their politics, must read.