A Texas Sized Pension Crisis in Dallas

After awaking from my New Year’s celebration I decided to do a little catchup reading. One article that caught my eye was about a pension crisis in Dallas, Texas.  The first thing that came to mind was this must be the county workers retirement pension system, I was wrong; this is the police and firefighters retirement pension system.  A very small pension fund by comparison to some such as CALPers.  However the problem in Dallas is strange, in a sense because Dallas has a booming downtown, cranes and skyscraper construction dot the skyline.  People have been moving to Dallas in droves, this is not the case study of a braying Midwestern city struggling with population loss, and the mill or warehouse closing down.  This really caught my eye.

Larry Hagman

Government and private sector accountants have been tussling in Dallas over how large the deficit in the pension funding crisis is, however they do agree on one thing, it’s between one and five billion dollars! Yeah, Billion, like Million but with a “B”.  Dallas appointed a pension board about thirty years ago to oversee the investments of this fund; most states and municipalities do this.  These board members are supposed to have a fiduciary duty to put the financial needs of the members over any short term profits or accounting gimmicks…they failed.  I will go in to their misdeeds later; in the meantime the city is now facing a monumental crisis of epic proportions.

The pension system in most states and municipalities all work the same, work so many years, and contribute a small portion of your check, roughly 1% and you will get a defined payout amount each month for the remainder of your life once you retire.  This is true with most pension plans; they are set up in a defined benefit manner not a defined contribution manner.  This becomes a problem when the union designs a contract where employees can retire at 50 and collect full benefits until death some 30 years later.  The problem is the pension fund essentially becomes a Ponzi scheme as new money is added from current workers that go to pay out the benefits to retired workers.

The fund receives money each month collected from current workers’ pay, and then hopes to invest the money, earn a decent return, and pay out benefits to those collecting retirement.  The main problem is these funds always use pie in the sky projections for investment return, with some such as CALPers saying they expect around 7.5% a year!  As per usual they didn’t come close to 7.5%, they actually did .41% which is well, awful especially considering the market is at all-time highs.  Enough about California; now back to Dallas.

Dallas got creative about a decade ago, they created an option for retired members called (DROP) deferred retirement option program.  This option allowed retired members to put their pension check in a separate account, which would be a savings account, with a 10% interest annually credited to it.  If you’re scoring at home, once again this is a characteristic of a Ponzi scheme promising pie in the sky returns, risk free mind you.  Many retirees participated and I cannot say I blame them, as a 10% risk free return that is likely guaranteed by the municipality or the state is a great option.  Then as one would expect problems began to arise, since you can’t guarantee 10% returns while the fund was only projecting to earn 7%.

The fund was beginning to see trouble in 2008, and as a result the board of directors decided to make investments in real estate as opposed to stocks or equities.  Investing in real estate is extremely risky, and the bets placed by the Dallas pension fund blew up right in their face.  This was to be expected. (If X was tasked with generating a massive investment return, I admit I would have done something similar.)  The fund began buying up real estate all over the world, a winery and hotel in Napa, and quite a few investments in foreign countries that were supposed to make up the difference and generate a return that could pay off the obligations to retirees.  This solution is not an issue until the value of the real estate holdings drops, and predictably it did.  The fund took over $500 million in write-offs over a two year period from 2014-2015.  Which is not a problem until those expecting to receive pension benefits find out they may not be receiving said benefits, then mayhem ensues.  Mayhem indeed did ensue later in 2016.  Further adding fuel to the fire were an agreement to raise the cost of living adjustment by 4% a year rather than pegging the rate to inflation which would have saved over 15-20%.

Remember those DROP accounts? The pension system had over 500 worth more than 1 million dollars, as a result of the shortfall; retirees began pulling all their money out of the system. Who can blame them?  It was money and benefits they had earned.  As a result, the mayor of Dallas, pension board leaders, and the state have been looking for a solution, including the temporary halting of withdrawals from the plan.  Which as per usual from governments and the CRA these days, answers nothing.  Panic has set in among retirees and as a result lawsuits have started flying in Dallas, as well as an FBI investigation as well as an SEC investigation.  The mayor of Dallas predictably wants a state bailout, which predictably the state government told him politely no thank you.  Now he wants to raise property tax by 130% on Dallas residents.  Remember this is Dallas, not a small decaying city, but one that is lined with skyscrapers.  Stay tuned, and I will report as more details come available.

X

Trump Shows Washington

The best entertainment on television during the last few weeks has been the Donald Trump show. Trump is the straight man in this farcical comedy. Unlike politicians that say what is necessary to get elected and then have nothing to show for a lifetime of “public service”, Trump goes to the nation’s capital and does what he promised and all hell breaks loose. Why, because both the political class and the media are shocked that he really meant all those things he said. Furthermore, Trump has the “stones” to actually follow thru on his promises and doesn’t care what they think. To them, this guy is worse than Reagan and that was a very low time for them.

109 people get caught in the crossfire of Trump’s immigration order and the international socialists and those likeminded travelers—with generous funding by George Soros—act like Trump just reinstated internment camps. (For those that forgot, the KKK, Jim Crow laws, and internment camps were all Democrat policies implemented against fellow Americans, not immigrants wanting to come to this country.) The ACLU reported has raised over 24 million dollars off of this non-event.

Trump fired the acting director at the Department of Justice over her refusal to defend his policy. Trust me; she will land on her feet with some cushy job in academia teaching at some liberal law school. She was on her way out so taking a cheap shot at Trump and getting fired was a resume enhancement for her. Ditto for the Pentagon bureaucrat a few days ago that said male and female Marines should sleep next to each other when in the field. Women don’t belong in combat, period.

Today, the next part of the campaign against Trump will be rolled-out, milliseconds after the Supreme Court nominee is announced. It won’t matter who it is, the campaign in a box is already part of the standard playlist of Liberal tactics. I hope Trump picks Alabama Supreme Court Judge Roy Moore just to tweak the whole lot of them but I doubt that will be his play. Frankly, I hope he picks someone like John Eastman and not a sitting judge. That would be fun to watch.

Just remember that the street theater that you are witnessing is primarily to cause the weak kneed Republicans (Ryan, McCain, Graham, et al) to cave and surrender to the will of the Liberal minority. If Republicans stick with Trump, the Liberal agenda is toast. Trump will roll them back to the Stone Age. Again, look for Trump to call on the American people if the Republicans get too wobbly and spineless.

Hopes for President Trump

This week, we will experience the end of an error and a new beginning. Yes after eight years of Barack Obama a new chapter in American history will begin. As with all beginnings there is both uncertainty and high hopes for President Trump. Unlike Obama and his imperial declarations of unilateral executive authority, Trump has the possibility of lasting change by having his wishes turned into law by the Legislative branch of government. Not since Ronald Reagan, has anyone holding the office been so willing to bypass both the media and Congress and take his case for action directly to the American people. Trump will have the power to cause permanent changes in both political parties by being successful.

Unlike the Contract with America and Speaker Newt Gingrich, Trump has longer term goals for the country than merely 100 days. The economic picture has been so obfuscated by Obama and to some extent George W Bush before him, that both danger and opportunity will be encountered. Obama has been cooking the books thru “Quantitative Easing” and manipulation of economic data such as unemployment statistics. The plight of the American worker is the worst it has been since the 1930’s but the difference is less honest politicians and a greater willingness to print money and finance the status quo with debt. Medicare is expected to become insolvent during the Trump years and no one has been willing to fix it. Thankfully Trump has the backbone to at least try for more than a Band-Aid solution.  Cutting corporate taxes and repatriation of money that US companies are warehousing overseas will be a great boon to the economy. Trump’s tough stance on trade is needed. Proposals like the Trans Pacific Partnership and its 6,000 pages of nonsense are ridiculously complex and unintelligible even for its advocates to understand.

The legacy of the Supreme Court will be the one that Liberals will hate the most. They can’t get most of their ideas thru the legislatures of the several states or the Federal government so the legislative power of the courts has been their “go-to” play. Trump must not only put folks on the Federal Bench but realign the courts. The dreaded Ninth Circuit Appellate Court must be dismantled so the only the Left Coast states are under their sway. Look for some “out of the box” proposals to be made in this area.

To me, the Courts don’t have to overturn Roe v Wade. If the government would be prohibited from spending any public money on abortion and family planning then groups like Planned Parenthood would be irrelevant. Abortions are at an all-time low. The people that regard abortion as the Sacrament of the religion of Feminism are literally dying-off or at least beyond child bearing years. Yes, Roe needs to be overturned but I think that will be a lagging indicator not the first domino to fall.

Protecting religious liberty will be a mixed bag under Trump but the hostility against Christianity that Obama fostered will mostly be undone. Marriage will be the area to watch. I look for the social engineering of the military including its hostility to Christianity and promotion of LGBT junk to go away…for the most part. I think you will see states like California going to war against Christians while the national government stands with people of faith. The threat of withholding Federal Funds will win the day…for now.

Many of us sense that this is the last chance we will be given before following Europe into the abyss. The America of Norman Rockwell is gone; will it continue on the path into socialism (international or national) or find a way to continue to be Reagan’s “city on the hill” for the rest of the world. If Trump doesn’t undo the damage of the baby boomers and show the next generation a better way than doubling down on the narcissism of their parents then the American Experiment has truly ended as an abysmal failure.

Lastly, I predict that the biggest obstacle that Trump faces will be Republicans undermining him. If they thwart his legislative priorities, look for Trump to run a slate of candidates against these incumbents in two years.

Election Night Winner and Losers

Faithful readers, your humble correspondent X spent election night holed up in a hotel in Las Vegas with the wife watching the returns come in.  We had a great night! When I say “we”, I mean conservatives, not wishy-washy phony republican wannabe types.  I will lay out the winners and losers as well as provide my usual commentary as I sit in McCarran Airport waiting my flight home.

Winners:
The insurgents: by insurgents I mean the Trump brigade who were behind him since day 1, that would include many readers of this blog, as well as the Blog Father and myself.  This group of people also known as “deplorables” carried Trump across the finish line; he somehow was able to connect with several hundred thousand more people than a traditional republican campaign could and won convincingly.

Senators and Congressman in tough districts that stood by Trump: This includes some favorites of “X” such as Ron Johnson and Pat Toomey, of Wisconsin and Pennsylvania respectively.  They stood with Trump and as a result Trump voters selected them not their democrat challengers.  By the way both were written off for dead by the national party!  Additionally even republicans on the various networks thought we would lose more than a dozen seats in the House, as of this writing we lost only 6 seats!  Once again if you stood with the silent majority you likely won, even a couple members won re-election in seats Obama carried two years in a row!  Let that sink in for a minute.

Losers:
Established GOP politicians and “journalists.”  I am going to name names, and not be very nice.  Sen. Lindsay Graham and Gov. John Kasich, you both are the two biggest losers.  First neither of you ever had a good thing to say about the nominee for President, nor did either of you honor your pledge to support the winner of the nomination.  Worse yet, neither of you voted for Mr. Trump.  Congrats, you’re officially losers!

Also a special shout-out to the RINO nominees of the past. George H. W. Bush, John McCain, George W. Bush, and Mitt Romney. We’ve held our noses to vote for you Country Club guys every four years since 1988 but when it’s your turn to take one for the team, you wash your hands of Trump and all of us. Clearly you guys are more interested in maintaining the status quo than rescuing the country from the Democrats. It just proves that Elites like you are the problem.

Sen. Mark Kirk and Sen. Kelly Ayotte, both of you ran from Trump, and both of you lost.  I’m not sure why you decided to take that strategy but as a result you are both now joining the ranks of the unemployed.

Journalist losers:  This includes; George Will and Bill Kristol, neither of you are worth the skid mark on the back of your drawers now to me.  Will, you looked like a bumbling idiot on election night and thankfully Fox took you off the broadcast.  Kristol, I’m not even sure where to start with you, first you hate Donald Trump, no need to cover those emotions anymore.  Second you tried to recruit an independent candidate throughout the entire process to play spoiler.  Congrats, your independent candidate did as well on election night as I did at the blackjack table!  Kristol your new nickname is Pampers, because as far as I am concerned you are both full of the same thing!

Cal Thomas: you saved yourself by penning a column on the election eve saying you were in the Trump camp. You acted like a clown during the entire election process but you saved yourself; barely, in my eyes… you are still a loser; however, unlike Hillary you were somewhat able to save face.

Now the TV and local personalities:  Michelle Malkin and Joe Scarborough, congrats, you bailed on Trump, now I’m bailing on you.  Michelle Park Steel, you and your buddy Jon Fleishman both bailed on Trump. Steel even went as far as calling Trump a “clown” (well I am forced to give her the benefit of the doubt since she is married to one). Also, Sheriff Scott Jones needs recognition for waffling on several important issues and then compounding it by dissing Trump. Unlike some others this cycle, Jones does get to keep his day job.

The CRA and Tea Party: both organizations wanted nothing to do with Trump.  The Tea Party reluctantly came around toward the end and did all they could.  The CRA? Nothing but crickets out of that group of losers; all of them. Frankly I’m convinced the CRA leadership bought the domain name http://www.tedcruz2020.com anticipating a Trump loss.  Oh well, I guess your guys can run third party in 2020.  (Republicans are a third party in this state already.) Sad to watch honestly, that group is so leaderless, and responsible again for the CA GOP losing seats in the state assembly.  In addition, the CRA did nothing about a tax increase in Sacramento County. Thank god a couple of people put up signs and it looks as if the tax will fail.  CRA, instead of doing something constructive this cycle, you endorsed Ted Cruz and made him a part of your official platform and then sat out the election when he quit in disgrace. Instead of backing the nominee, the CRA faithful defected to the Never-Trump movement!  Your movement and clubs are officially dead and gone.

Bonus Commentary from “X”
Trump and Obama actually have quite a bit in common, none of it being policy related.  Both brought scores of new people into the political process by the nature of their campaigns.  Obama promised hope to those in the black community, and as a result, twice he was re-elected by large margins.  Trump went straight to the middle class- those affected by job losses, high health insurance premiums, and loss of home and autos.  As a result he waged a war against the establishment of both parties and won a convincing victory.  While the CRA and others tried to stop him; he prevailed. Now he has a mandate and we will see real change.  Working class members of our society came out in record numbers, and as a result an electoral landslide occurred; one that has pundits on both sides reeling and trying to figure out how this could have possibly happened.

Democrats are left leaderless and need to search for the soul of their party.  They will rebound, but they must do some major platform revisions.  Voters threw out the Obamacare, free college, free programs, free trade agenda, they want it replaced.  Democrats need to stop attacking people’s livelihood, such as banning guns, ammo, and coal mining.  Sen. Sanders even acknowledged during the campaign guns are a large part of the economy in Vermont—his home state!  Why can’t we mine for coal and export it to other countries?

Also, quit calling people names; “deplorables” and “angry Americans clinging to guns and religion” just makes the other side mad, stop that immediately.  Stop making people feel inadequate; saying “if you don’t go to college you’re a loser” is a recipe for high college tuition and as a direct result, massive student loan debt that will never get repaid. (Besides it’s demonstrably true that many that dropped out of college are way richer than the rest of us, Bill Gates and Rush Limbaugh are two names that come to mind.—editor)

Quit kissing up to the Black Lives Matter crowd. See them for what they really are; a group of rabble rousers just looking for an excuse to riot. Sure there are a few in the movement that may mean well, but they have quickly become a fringe group.  Stop giving out freebies, there simply are not enough voters at the low end of the spectrum and Hollywood elites to sustain any success in the long term. Take Obamacare as an example: the lower class got free health care, people were tricked into thinking that everyone got a Cadillac plan, but really the middle class was stuck with something they did not want, they lost their doctors and options, had to take high deductibles and co-pays and had to deal with massive premium hikes each year.  The middle class revolted, and it cost you deeply.

Until next time…..

X

Mourning in America

As the sun rises on the nation, Liberals are suffering the shock of learning that Donald Trump is the next President of the United States.

My response is “Ding dong, the witch is dead”.

Hillary is feeling the Bern of rejection.

The stock markets are suffering from the thought of having to stand on their own without the voodoo economics stimulation of Quantitative Easing.

America is in the midst of the greatest economic challenge since the Great Depression. Hopefully now the books will be audited and the truth made known. Not that Liberals care about the Truth. Government is their god and the only god with whom they have to do.

Trump has rattled the foundations of the establishment. Yeah, it’s about time.

The most pathetic thing last night was the reluctance of the media not wanting to call it for Trump. If you thought it would be hard to pry the gun from my cold dead hands, you should try extracting the truth from the media. I heard nothing good from the network talkingheads last night on CBS, NBC, or ABC. There was universal denial and doom…and still is today.

It’s morning in America for the first time since 1980. God bless you Mr. Trump. Give ‘em hell.

Cubs Win So What Does That Mean to the Presidential Race?

First, congratulations to the Cubs. 108 years is a long time to wait. I told my wife this is probably the only time in eight years we’ve probably been on the same side of an issue as President Obama. She asked me “why” and I had to remind her that Obama claims to be from Chicago (before Hawaii, Kenya, and Indonesia).

The purpose of my column today is just to ask the question of what happened to the usual talk of the winner of the Super Bowl or World Series being a predictor of who would be the next President. If there was such talk during the battle between the Indians of Cleveland and the Cubs of Chicago then I totally missed it.

I did a search of the Internet and here is what I found.

Until 1976, it appeared that the World Series was an accurate predictor of the presidential race. From 1952 to 1976, if the American League won the World Series, then the President would be a Republican. If the National League won, then the election would go to the Democrat. However, it all changed after that.

Predicting the Presidential Election with Baseball: Can the Winner of the World Series Predict the Presidential Election?

Then forty years later, a couple of SABR member stats-nerds decided to expand the data set to cover the years 1908 to 2008 and asked, could the winners of the World Series really predict who won the Presidential election?

And of course the answer was no.

Of 27 elections held between 1908 and 2012, there has been a correlation between the World Series winner and the presidential winner 16 times (59%). Statistically speaking, that’s more of a coincidence.

The Best Predictor Of The Presidential Election: Is It The Winner Of The World Series?

Other examples of ‘predictors’ from past and present years include the following:

• If the Washington Redskins win the week of the election, this means a win for the incumbent party. This has held true since 1936.
• Whoever’s Halloween mask sells the most will be the next president.
• When companies produce ‘competing’ products, whichever sells the most is supposed to predict the winner. For example, if a company has cups with images of the Republican and Democratic candidates, the one which outsells the other would be a predictor.
• If the Dow Jones Average gains over the time from August to October, this predicts a win for the incumbent.
• If the Los Angeles Lakers win the championship, then the Republican candidate will win.

Predicting the Presidential Election with Baseball

I knew that the answer would be “no” because God is sovereign. Those that look for signs and wonders—or the “butterfly effect”—are sure to be disappointed. Yes there is “cause and effect” or “reaping and sewing” but that is not all. We live in an open system and not a closed one. God will bring His will to pass. Pray not that He is on your side but that you are on His.

I think Trump will win next week but I know that has always been a longshot in the eyes of most people. In my view, the World Series was just a distraction to get us closer to Election Day to end the drama, vote, and get on with the consequences.

Why Democrats Should Vote for Trump

I could go into a lot of reasons why Democrats should vote for Trump but Democrats are not motivated by logic, facts, or reason so I will give a short synopsis and then explain why.

I know that some games with economic statistics started under George W Bush but the fact is that the Obama Administration has been cooking the economic books for the full eight years of his term.

• Quantitative Easing has been artificially propping up the financial markets.
• The Federal Reserve has been propping up monetary policy but they have already said they will raise the Prime Rate after the election.
• Given that one in five American households have no one working and there are over 94 million adults that are no longer in the workforce out of a population of 308 million people (including children and senior citizens) do you really believe that unemployment is only five percent?
• Economic growth under Obama has never been above 3 percent Gross Domestic Product (GDP) in any fiscal quarter of his presidency—this is the first time in US history
• The auto loan market is in a financial bubble that is ready to burst (Americans owe over one trillion dollars in auto loans)
• The student loan debt is also over one trillion dollars
• Job creation under Obama is less than the number of college graduates entering the works force and has been for all eight years of his administration
• 36 percent of young people between 24 and 31 are still living at home
• Taxes, fees, and regulations have grown significantly under Obama
• Pension plans nationwide are trillions of dollars underfunded (one trillion just in California—State, County, and Local governments)
• Medicare and Social Security are facing insolvency in the next few years

This is only the tip of the statistical iceberg but you get the point, the house of cards will collapse sooner or later. You’ve had a good deal under Obama—or so you think—but the bills are about to come due.

We also learned from Democrats that capitalizing on disaster and tragedy is a cornerstone of how they operate. Spinning a crisis into political advantage is part of their playbook.

Here is your golden opportunity to do both. A vote for Trump is really a vote for future Democrat officeholders. Why? Because the economic system in the country needs a correction. Whichever party is in power when it happens will get the blame and you don’t want your guy (or in this case girl) in office when the stuff hits the fan. Trump can get the blame, fix it and then the next Democrat can ride the economic crisis all the way to the White House. If your Party spins it right then your guys could be in power for the next 16 years or better. Frankly, this might be a good reason to vote a strait Republican ticket. If Republicans own the Congress and Presidency then there is no way blame will go to your Party. In the long run you’ll be better for the experience.

Trust me, you want Trump when the economy takes a dump.

Hillary, God, and the Election

I get several newsletters in my email, but none is as much fun to read as the one I get from Joe Miller. Miller is from Alaska and has run twice for US Senate. Some content is written by Miller while other articles are contributed by others. This article appeared today and concerns the election. Here are a few paragraphs from the story. I think the author (Steve Deace) is correct and I recommend that you read the whole thing.

Hillary Clinton’s Continuing Email Saga Reminds Us That God Is God, and We Are Not

This presidential election is a painful reminder of this truth. For it is being driven not by substantive issues that will really determine the future of our nation for the next four years, but by this very principle. Three men — Bill Clinton, Donald Trump, and now Anthony Weiner — and their unrestrained sexual appetites are going to play the biggest roles in the outcome on November 8th. Not the candidates’ positions on real issues.

Because try as we might, and pretend as we so often do, the real issue has always been character.

…This election is nothing more than that age-old story. Wars have been fought over the unrestrained sexual appetites of men. Like when a face once launched a thousand ships.

…Yet, here we are in the final days before another important election. Caught in the Bermuda Triangle of three men’s genitals, with literally the immediate future of the country at stake.

…But even more than they need accountability, they need forgiveness. Not from us, but from God. The forgiveness they must seek for themselves. We should pray they will seek it, so they can learn as I have that mercy triumphs over judgment. That God’s grace doesn’t mean we escape accountability, but gives us the character to accept it and then the strength to overcome our weaknesses. To be better than we are, and we ever could be on our own.

Christian leaders like Billy Graham used to deliver this message to our politicians, which is why they were often friends to those in power regardless of party. Unfortunately, in this election, it seems as if Christian leaders have delivered every message but this one. How many Christian leaders do you believe are hoping to politically capitalize on the failings of these three men rather than do anything to help them sincerely repent and be truly restored?

Go to Joe Miller to sign up for the newsletter.

Accomplishments of Hillary Clinton In Her Own Words

My son is struggling at school with the fact that so many students at his supposedly Christian school are strongly supporting Hillary Clinton. The school is sponsored by a denomination that is proudly prolife and supports traditional marriage and prohibits homosexuals in the pulpit. The theological disconnect between the denomination and the student body (and therefore the parents since children reflect the views of their parents) on these issues is troubling.

My solution was simple, ask the kids rooting for Hillary to name three of her accomplishments. As expected, none could name one. The closest any kid got was trying to say she improved the economy over the last year. When my son told me this I laughed and said, “She’s been unemployed for the last year so how could she improve the economy?”

It was in this context that I saw this on Facebook the other day and it got me to wondering, did she really say this?

“My accomplishments as Secretary of State? Well, I’m glad you asked! My proudest accomplishment in which I take the most pride, mostly because of the opposition it faced early on, you know. the remnants of prior situations and mindsets that were too narrowly focused in a manner whereby they may have overlooked the bigger picture and we didn’t do that and I’m proud of that. Very proud. I would say that’s a major accomplishment.”

– Hillary Clinton 11 March 2014

Could someone please tell me what the hell she just said? And she may be running for President?
Link: Moral Matters-Clinton Explains Accomplishments

Snopes says no way did she say this and a web search has difficulty turning this quote up; however, Snopes has been proven to be in the tank for Hillary and is known to lie to benefit her due to their political leanings being more important than the truth.  We have proven repeatedly on my blog that the Internet is scrubbed to remove damning things about politicians and others, hence my reference to 1984 earlier this month.

Snopes’ rebuttal came on July 30, 2014 but I did find the exact quote along with several others in an article dated July 10, 2014. Please note the differences in the quote below. The use of the ellipsis in the quote is important.

Yesterday, without any introduction, I had my son look at the Facebook quote and even he—at aged 11—noticed that some words were missing. He asked me why some sentences started with lower case letters. The quote below will answer this question.

“My accomplishments as Secretary of State? Well, I’m glad you asked! My proudest accomplishment in which I take the most pride, mostly because of the opposition it faced early on, you know… the remnants of prior situations and mindsets that were too narrowly focused in a manner whereby they may have overlooked the bigger picture and we didn’t do that and I’m proud of that. Very proud. I would say that’s a major accomplishment.”
Link: Quiners Diner-Ms Clinton what are your accomplishments

It appears that this is a more accurate rendering of the original. Based on what I know of the Internet, English grammar, and other things Clinton said during the same time period, I must conclude this quote is genuine.

Here are some other quotes from Clinton from the same timeframe in 2014.

Look, I spent four years traveling the world on behalf of the United States. I went to 112 countries, nearly a million miles, all the statistics, and I came away from that experience even more confident and positive about our model, about our potential. I don’t want to sound chauvinistic, but I was very proud to represent the United States.
Link: Daily Beast-Friedman interviews Clinton

Diane Sawyer asked Hillary Clinton what significant things did she accomplish during her four years as Secretary of State?
Clinton “didn’t even attempt to answer the question. She just changed the subject.”
Link: Hillary can’t name Top Accomplishment As Secretary of State

Toward the end, Friedman turned to Clinton and said: “When you look at your time as Secretary of State, what are you most proud of, and what do you feel was unfinished, maybe love to have another crack at someday?”

Clinton and the audience laughed, because “another crack at someday” seemed an obvious back-door way of asking whether Clinton will run for president in 2016. But then she answered, and revealed something critically important about her intentions.

“Look, I really see my role as secretary, and in fact, leadership in general in a democracy, as a relay race,” Clinton said. “I mean, you run the best race you can run, you hand off the baton. Some of what hasn’t been finished may go on to be finished …”

The answer seemed to concede that there is no single, momentous thing Clinton can point to as having achieved during her years as the nation’s top diplomat.
Link: Clinton rambles about accomplishments

I did a search on another speech that Clinton gave and I can’t find a single Liberal leaning website with a transcript of Hillary’s speech to the Women of the World Summit in New York City in 2014. There are a few links to YouTube videos but not a transcript that is easily obtainable. This paragraph was widely circulated at the time.

“We had the worst economic crisis since the Great Depression, we had two wars. We had continuing threats from all kinds of corners around the world that we had to deal with. So it was a perilous time frankly. What he said to me was, ‘Look, I have to be dealing with the economic crisis, I want you to go out and represent us around the world.’ And it was a good division of labor because we needed to make it clear to the rest of the world, that we were going to get our house in order. We were going to stimulate, and grow, and get back to positive growth and work with our friends and partners.”
Link: Hillary struggles to name accomplishments

The bottom line is Clinton has no accomplishments that she can name so it’s no surprise that neither can those who vote for her. She’s just an empty pantsuit.