Kissing Pensions Goodbye

We all know that Al Gore didn’t invent the internet, but Bill Clinton can indeed take credit for trashing the institutions that once defended our financial security.

Since Clinton, Pension Fund managers all over the world have been hopelessly out-maneuvered by stealth.  Many pension asset pools have declined to a point where Managers no longer have funds required to cover the payments promised to future pensioners.

The pension asset shortfall is causing panic among Fund Managers.  Collapsed interest rates have starved the fixed income side of the asset pool, and Managers are at a loss to enhance returns on the equity side of the balance sheet.

In Canada we are watching our real long term wealth-generating natural resource treasures sold off to wealthy foreign dictatorships, while our humiliated Pension Fund Managers scramble for performance by throwing our savings into Mafia owned Rangoon Casinos and Strip Malls all over the world.

In my opinion, Canada is the strongest nation with the safest currency in the world.  If I had it my way, no Canadian Pension Fund would be allowed to invest outside the country and preservation of capital would be the management objective rather than performance.

Of course this is not in the cards.  Instead, Canadians will elect a pot-smoking Prime Minister.  Canada will slide into obscurity and future Canadians will be slaves in their own country.

You say it couldn’t happen?  The United States was once the greatest nation on earth.  Americans elected Bill Clinton and then Barack Obama to pave the smoky road into hallucinogenic obscurity.

But don’t blame Bill Clinton or Barry or Justin Trudeau.  When the gift of freedom is no longer cherished, the rabble in every age vote in favor of smoking up.  Who cares about pensions?  Repeat Performance.