N.J. Pension System Deficit Rises to $34.4 Billion
Bloomberg

Fed Defies Transparancy Aim in Refusal to Disclose
Bloomberg
"The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
". . .as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return."

[refusing to disclose and using public monies without the approval of Congress is criminal enough but wait, I thought the bailout was only for $700 billion?]

Dems Target Private Retirement Accounts
Carolina Journal
"Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration."

Letter to fellow NJ teacher regarding the peril of our state pension funds

Dear __________,

I wanted to share something with you that
I'm very concerned about that affects myself
and every teacher and employee of the state
of NJ. I'm referring to our pension fund.

I don't know if you are aware but as of July
of this year our state pension "funds still
fell $28 billion short of the amount actuaries
projected they need to cover the longterm cost
of benefits promised to current and retired 
workers."


And with the current economy spiraling our of
control the news media reported on Oct. 8th
that "the value of pension funds and retirement
accounts dropped by roughly $1 trillion."

Two days after that the Wall Street Journal
reported that investors have lost $8.4 trillion
in the U.S.
"The market rout in the U.S. is rapidly 
wiping out vast amounts of wealth,
casting a pall over households and 
businesses"

It doesn't look good for our pensions to say
the least. To add insult to injury NJ state
does NOT disclose where our monies are being
invested and we are required by law to
keep our money in it unless we quit the job.

If this concerns you, please spread this
information around to every NJ teacher and
NJ state employee. My fervent hope is that
the the NJ teachers and employees will wake
up to this and demand that our money be
withdrawn from the bad investments that
they are currently invested in.

This is our life savings they and we are
allowing to be stolen!

Thanks for reading.