400,000 People Just Had Their Pensions Cut By 50%: “Going to Happen To The Rest Of Pensions in the United States”

"So, the first step is to give pension funds the ability to cut benefits, which we are seeing now and will continue to see going forward as funds all over the country struggle to keep the benefits flowing. Next, the government will identify these funds as under-performing and mismanaged, at which point they will outright seize the entire industry just as they did with health care. The pain is coming, America. You’d better be prepared to deal with the fallout."