Chicago Teacher’s Pension Fund Hands Out $1.5 Billion, Made Only $7.8 Million

The numbers are mind boggling:

The Chicago Teachers’ Pension Fund (CTPF) paid out $1.5 billion last fiscal year, mostly on benefits to retirees.

But it only earned $7.8 million on its investments, according to a filing it made with the Illinois Department of Insurance.

The Chicago Teachers’ Pension fund operates like a Ponzi Scheme, but it is allowed to do so because the fund is taxpayer-backed. Bernie Madoff’s private Ponzi scheme cost investors $18 billion; he received 150 years in prison. The Chicago Teachers’ Pension fund operates like a Ponzi Scheme, but it is allowed to do so because the fund is taxpayer-backed. Bernie Madoff’s private Ponzi scheme cost investors $18 billion; he received 150 years in prison. | Wikipedia In addition, it cost CTPF $35.8 million in investment expenses to earn that $7.8 million, according to the filing, meaning it actually lost $28 million between July 1, 2015 and June 30, 2016.

Years like 2016 elucidate how the fund, which is supposed to pay for the current retirements of some 28,000 former CPS teachers and administrators as well as provide future benefits to another 29,000 active ones, is running out of money, and time.

What I would love to see is exactly how the money is flowing. Are they buying stocks that the big players want to unload because they know they will be dropping? Are the people handling the accounts being paid on the side by other players to move markets in specific directions that others are profiting from?

There could be any amount of corruption and collusion, and I would not be surprised today, when there just aren’t any rules any more. But even more frightening is that today corruption isn’t even necessary. When you have a population filled with the types of idiots who would vote for Hillary Clinton, is it any surprise that the funds run by such individuals are hemorrhaging cash?

There are many reasons for K-selection’s inevitable arrival. Simple shortage happening, the rise in r-selected consumption due to r-proliferation and immigration, and the breakdown in civil order that occurs as all rules are abandoned. But probably the biggest cause is the shift from long-term planning psychologies, to short-term, glut-exploiting psychologies.

Imagine that just as the economy collapses, banks announce customer savings accounts are empty, and layoffs begin in earnest, the retirees suddenly find that everything they worked for all their lives is gone as well. Nobody will have any security or stability.

I would not be surprised to see everyone so pissed off they take up arms and launch a civil war just to punish all of the leaders of finance and government who oversaw this epic disaster. Nobody could blame them.

Spread r/K Theory, because when the Apocalypse hits, nobody will have anything else left