Moody's: US Public Pension Funds Face Nearly $1 Trillion in Losses

The market crash and the economic fallout from the coronavirus have led to nearly $1 trillion in investment losses for U.S. public pension funds, Moody's Investors Service said.

The credit rating agency said the funds are generally facing an average investment loss of about 21% in the fiscal year that ends June 30, based on a March 20 snapshot of market indexes.

The severity of the spreading COVID-19, the disease caused by the virus, and government-ordered shutdowns in various U.S. states have weighed heavily on Wall Street, with the Dow Jones Industrial Average erasing over three years of gains in one month.

“Without a dramatic bounceback of investment markets, 2020 pension investment losses will mark a significant turning point where the downside exposure of some state and local governments' credit quality to pension risk comes to fruition because of already heightened liabilities and lower capacity to defer costs,” Tom Aaron, a Moody's vice president, said in a statement.

Thank you, dp.

You know yourself and respect your strengths and weakness. Most people only respect their strengths. However, our strengths seldom get us in trouble, while our weaknesses always do.

I have learned to respect my longer term weaknesses and now seldom entertain opportunities to let them control circumstances. Unfortunately, temptation can introduce other weaknesses.

May we both seek to continually glorify God in our lives. That positive action greatly reduces temptation and releases us from Satan’s power.

We truly live in those times.

I believe you are a single man. How do you stay properly disciplined in your walk? I was single for almost 40 years and continue to be happily married in the intervening years. Having my wife in my life helps me to continually remember that my actions impact her AND me.

I was active in my church and that greatly helped me. It is my hope you have a similar healthy tether.

I keep striking out. It makes it easy! :)

Ah, mine is a long and crazy journey and to say I stay properly disciplined may be a stretch.

But in the early 2000s, despite Multiple warnings from God that I was heading down a Very Dangerous path, I ignored Him.

That always works out well :)

After untold years of suffering from an injury that was my fault from not listening, my eyes opened up around 7 years ago.

My recovery was long AND brutal. But God is great and I should not have recovered but did up to 95 percent of old self.

The 5 percent was left as a reminder to me of what I did and to NOT tempt God again or ignore him.

I had a VERY special friend (female) who nursed me back to health and to whom I will forever be grateful.

There’s much more to it but that’s the basic story.

I tell this ONE THING to every younger person I meet, and i’ve told all my nephews and nieces and cousins’ kids and any other kids I meet.

If you take TWO STEPS off of the straight and narrow path, you will need a THOUSAND steps to find your way back to that path, IF you ever do.

Two steps. That’s it. And you will turn around and the path will not be there. You are in a maze now and it will cost you time and Much Worse things than time to find your way back.

So stay on the straight and narrow road.

Cause there ain’t no such thing as veering of of it a little bit.

I’ve been there and done that.

I wouldn’t suggest it.

God’s blessing to you and yours.

They probably also got him re-elected as things will recover, and things like this make or break you as a leader. Its plain as day he is doing a good job. Its crazy the level of hate directed toward him. Like watching the media try to discredit a medical treatment, that seems to be working, because president Trump suggested it.

I've notice the president mentioning just what a piece of crap our public apparatus for dealing with this.

Wasn't like there were any diseases during the previous adminstration oh wait -SARS, N1N1, MERS, Ebola - Obama was such a disaster.

Actually in comparisons to Trump lots of presidents come up short

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