When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Saturday, May 26, 2012

The Next Pension Crisis

The next pension crisis (and it has nothing to do with public unions)--

The Next Pension Crisis | The Cynical Economist: "In other words, because of the new transparency requirements, the stock of unionized companies could take a big hit. What’s more, transparency about union pension liabilities could end up depressing entire industries. That’s because union pension plans are interconnected. If pension plans start failing in heavily unionized sectors such as construction, transportation, and supermarkets, it could have an ugly domino effect. . . . "

That's why I've said pensions are dead. We need to go to self-funded retirement accounts and everyone being in Social Security.


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects