Back in 09, said to my dad, "pop, is there anywhere else you'd like to live because I'd like to get out of Illinois before it goes down the tubes" and he said Colorado.
Well, got that one right.
Illinois is officially toast and it's the canary in the coal mine, it's the first of many that are simply facing the fact that they are promised really great benefits to many more former employees than they anticipated and didn't fund the pension funds nearly enough and now all the state employees are about to find out that pension funds are great when they have money in them, but it's going to get real ugly very soon.
The current states that are in good shape? Alaska, Nebraska, Wyoming, and the two Dakotas. Judging the worst is kind of difficult, so so many are so far behind on pension funds. I remember John Loeffler talked about the emergency pension guarantee act of 202x, when SS, all public and private pensions would all be combined and pay all retirees a better monthly retirement - of course, the problem is combining a bunch of buckets that don't have enough cash in them to pay out doesn't work unless you.....put all the IRA and 401K money in there also, THEN it's in the black for a few years. That plan, was a think tank paper and if you read think tank papers today, it's amazing how many come true 20-30 years later.
That will really suck for all those that put 10% away for 30 or more years and are sitting on 2m in a 401k, unfortunately, the majority of people did not do that and they will be all for using that money you saved to pay for their retirement.
Of course, the Buffets and Gates of the world won't be affected by this redistribution of wealth, just what is left of the middle class.
Hmmm, sat here for 30 minutes trying to cleverly segue into the next topic and couldn't think of a thing, so sharp turn and Dr. Who again.
You know what I thought would be a seriously cool idea for Dr. Who? How about in a Dr. Who adventure, send them back into another TV show, like get the crew for Life on Mars back and do an episode where it's a Life show but a Dr. Who show is going on at at the same time; too bad John Thaw is dead, Morse would be a great one too. But there are a ton of great english shows it would be awesome to see put back together for one show and it slides into a Who show.
Just another idea that will die in the vastness of the internet, where no one can hear you think.