Lockheed is dumping its pensioners off along the roadside. [LMT]

After decades of loyal work, pensioners at Lockeed expected their company to follow through with its pension promises.  But Lockheed knows the score same as I do - that the US has been running a global debt Ponzi and that in the coming deflationary crash, debts will get much harder to pay.   And owing pensioners is debt.  So today's news reads that Lockheed is going to dump its pension obligations off onto Prudential.

If I were a Lockheed pensioner I would be very pissed.  Lockheed stated that the reason for the move was to reduce their risk.  But what about the risk of the pensioners?  All insurance companies have far more liabilities on their books than assets.  I said this about AIG and everyone laughed right up until the day it collapse below $5 and needed a government bail out.  Prudential is no different.  The next collapse will take out all of the insurance companies.  Why?  Because they don't produce anything!  All they do is make promises for a living even if there is no way they can keep all of the promises they made.  The business of insurance companies is nothing more than gambling on the fact that not all of their promises will come due at the same time.  But a Ponzi never lasts forever and when it collapses then most or all of Prudential's promises will be called in.

The only problem for the callers is that nobody will pick up the phone on the Prudential side.  They will simply call it an unforeseeable act of g_d and will ask society to take on the burden of its failed promises as the employees walk away with all their pay and benefits.  The gains will have been privatized and the losses, which are inevitable no matter what anyone says, will be socialized.  This is the fundamental game that is played by the elite on the unsuspecting masses once the people have been fooled into accepting fake money as if it were real.

Lockheed pensioners should sue Lockheed to block this transaction.  Why?  Because while Prudential produces nothing and is therefore disposable (along with all of its obligations) Lockheed is not.  Lockheed produces real things of value and as long as the pension plan is under their control, pensioners will get paid by the labor of the younger employees working there.  In other words, before this deal the pensions were backed by labor.  After the deal they will be backed by nothing except vacuous promises which cannot be kept.  Prudential is the dumping ground of pension plans and anyone unlucky enough to get caught up in it will get stiffed. 

If I can see this, do you really think Lockheed execs can't?  The fucking scumbags are selling their aging ex-employees down the river.  They are doing it with purpose and with malice.  They know their pensioners will get stiffed and they are fine with it.  After all, never give a sucker an even break, right?