Glad my federal pension has a COLA index feature!
Good god that article was depressing
It is actually better than that.
When there is no increase in the cost of living, they give away $250 to make up for the COLA you didn’t get.
Sarcasm?
You think that all those non federal workers who'll lose EVERYTHING to hyperinflation, will be able or willing to fund you're continued lifestyle, since it was indexed to inflation?
Maybe you should be glad that you have a COLA feature in your federal pension. But I suggest you look back to the Carter years when we were suffering from high inflation rates. People with COLAs in their pensions lost ground to inflation.
Since you are retired from federal service, you probably remember working during those years of two pay raises each year and still losing ground to inflation.
If you really want to get frightened, read some of the history of the Weimar Republic and the inflation in Germany following World War I.
Do not expect the COLA index feature to save you. How do you think the COLA will be funded? It will be funded with worthless currency. Indexed pensions (federal, Social Security, and state/local) will not be honored. Do you think that COLA indexing has saved other countries whose currency has collapsed?
We are headed for a currency collapse. The rest of the world is quietly preparing to replace the dollar. If the dollar collapses, it is unlikely to regain its value quickly, perhaps never. Right now, we may seem too big to fail. Currency traders are looking for opportunities to attack weak currencies. I see no reason that currency traders will not attack the dollar.