Pensions on the never-never, in Never Never Land

California’s public workers’ unions have extorted $billions in benefits for their members. Unfortunately, per Austin Powers, there are not enough dollars in the world – or at least in California – to meet the obligations.

Nor will there be.

This is the story of the post-industrial West: unions followed the money, from bust big business to Federal, State and Local governments which can’t go bankrupt.

It will be interesting to see how far the Detroit model can be applied to America. Eventually, American tax payers will only be left with their homes, and they can’t be moved, so presumably they will be confiscated, to pay the retired teachers, firemen, police and other “servants of the public”

You just can’t get the staff, these days.

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