Food Bank Demand Surges Across US, Cali Cities Put Up Streets As Collateral For Unfunded Pensions (Video)
Food Bank Demand Surges Across US, Cali Cities Put Up Streets As Collateral For Unfunded Pensions Video by Silver Report
Lines at a local food bank stretch on for miles as the Chesterfield food bank has seen demand rise to 1 million meals per month in Virginia about an hour from DC. They have seen food bank demand more than triple and they arent sure they can handle the surge without more volunteers. They have been trying to get more help and more and more families keep needing to depend on sources like food banks for help due to the recession. I believe Super V is the term that they’ve been using recently to describe what’s happening in the economy though we have covered numerous times the tens of millions of Americans currently receiving unemployment, it’s near Thirty million people.
they want us to believe that everything is happily ever after that we see millions of American families are struggling to keep food on the table during these pressing times and the lower income brackets have been hit the hardest throughout this crisis. When you thought you seen it all we look at what’s happening in California as several cities have decided to put up their streets as collateral on bonds for unfunded pension obligations. The state is broke and California has a stunning number of ex state employees receiving 100k salaries or more while in retirement. The truth is the state never had enough to fulfill these obligations so now it turns to putting the streets up as collateral to borrow to invest and make payments. CALpers pension fund has already increased leverage by 80% to take avantage of market timing as they put it.