Jerry Brown tries to prop up his failing state retirement system for public workers.

In a blatant attempt to fool people into helping him prop up his failing public worker retirement system, socialist CA gov Jerry Brown is slated to approve a state run retirement system for private workers.

We all know that state employees in all states have been made unkeepable promises.  As the number of retiring boomers rises to meet the fat part of the curve, the system (which has promised its victims a benefits package that would require 7-9% annual returns in a 0 to 2% world best case unless you are taking wild risks...) is coming under increased stress. 

Brown has limited choices in order to handle the exponentially rising expenses associated with keeping these false promises:
1) default in some fashion.  Simply tell the old people they were lied to and that they shouldn't have believed in fairy tales.  Of course then the old people would be up in arms.  Besides, it would be the honest way and politicians are never honest.  At least the successful ones aren't.
2) find some other revenue source in order to make good on the payments.  Perhaps increase taxes on the working people.  Nah, that won't work either, they will be up in arms too.
3) make more promises like any con man running a Ponzi. Pay the outgoing public service pension plan participants using money from new people entering the public service system.  Oh crap, there are not enough new people in the public service to make up for the shortfall.
4) trick a new class of workers into joining the Ponzi!!  YES!!!

Clearly option 4 is the one that kicks the can down the road and so of course that is the one that the useless politicians are going for.  At first the system will be mandatory to be enrolled in but you will be able to opt out of it if you have the patience to figure out how to do it, can read English, and otherwise understand that it is a fucking scam.  But many people, generally from the lower working classes, do not have the education and experience to know that the government is nothing but a Ponzi operator.  Over time, if the people fail to protest, the opt out clause will simply be eliminated and the government will essentially treat it as a tax, just like Obama did with the scam ridden and failing Obamacare con job.

What did not work for the public retirement system will in no way work for the private sector but, again, unless protested against vigorously, it will breathe new life into a system that would otherwise collapse very shortly. The key thing will be how many people fall for it.  They tried government socialized healthcare and it flopped indicating that the people were getting wise.  So it will be interesting to see if enough fools fail to opt out of the system thus effectively exchanging their money in hand today for Wimpy promises that will never materialize tomorrow.

My God in heaven, I swear I have never seen such organized criminality in my life than I have seen in US government.  If these debts cannot be repaid for those in the system today, how will they be paid for with an even larger class of victims in the future?  People of California, this is fraud pure and simple.  It will sound reasonable as if Big Brother really wants to take care of you but Big Brother doesn't give a $hit about you.  Get that though your heads!!  Why do you think strangers should care about you?  Are they your family?  Are they your priest or minister?  NO!  Stop believing in fairy tales!  Stop believing that someone else cares anything about you BECAUSE THEY DON'T.  To care about you is the role of family and of church and to a lesser degree of your immediate neighbors.  But fat assholes in government??? NO, they do not care a shit about you.

Carta abierta a los hispanos viviendo en California: Ustedes necesitan entender que el gobernador es un criminal que quiere disimular su hurto como si se tratara de servicio y soporte.  El criminal nombrado Jerry Brown sabe que muchas personas educados de raza blanca se salga del programa. El piensa que los hispanos son estupidos acerca del dinero. El se trata de abusar de la confianza de la gente.  El esta usando este programa como arma economica contra ustedes. El no es amigo de ustedes. Ningun amigo intentaria enganar te gusta esto y dejarte empobrecido en tu vejez. Si entiendes las matematicas un esquema de Ponzi, debe comunicarse de manera efectiva con su familia, amigos y vecinos. Ensenarles como salir del programa. Decirle al gobierno criminal de California que la comunidad hispana no van a aceptar falsas promesas de una jubilacion para que en el futuro. Diles que encontrar otra manera de financiar sus promesas pasadas a otras personas. Guarda tu dinero por su mismo!  No necesitas el gobierno implicarse con tu jubilacion.