The list, Ping
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Liberals either can’t do math or don’t want to.
Is Jimmy Hoffa still looting it?
Meanwhile we continue to give Iran, and other Middle Eastern states (except Israel) all that money that could go towards these pensions. Disgusting government.
Gee....I wunder how much that pension fund has given to Democratic politicians?
Surely there are a few magic bank accounts around that they can plug into.
Oh wow.
I have a picture in my mind of the peak of a very tall mountain and seeing a few pebbles shift and start rolling down the slope, they roll into some slightly bigger stones and they too start rolling down the slope then they hit some even bigger stones and...
One of the big contributors to this is the federal reserve’s low interest rate policy. Interest rates are two sided coins, when one side wins, the other loses. When interest rates are kept low as they are now, borrowers win, but lenders lose. Lenders include not just banks, but pension funds, who seek fixed income investments over the long term.
Time to call Jimmy Hoffa.
This won’t be the only one.
Just as Fed and government policies have made it impossible for small savers to earn a sensible rate of interest on savings, big investors like pension funds also no longer have the safe, CD and money instrument type investment that could earn 5% or so on some of their more conservative investments.
Everyone is contributing to the ongoing financial bailout.
I remember dealing with this in some detail back in 1976 when ERISA became law and our company had a covered plan. The government was going to take care of everyone in these defined benefit plans and in the extremely unlikely possibility that a plan was still bankrupt each employer with a plan had paid a premium to ensure there was a stash of money around to take care of any problems.
Well no one started defined benefit pensions any longer because of government regulation and instead opted for 401K plans. Now it does not look like any of those fine regulations were effective and Congress in 2014 finally realized there was no money available to cover their promises.
Oh, great...I’m owed a pension funded through Western States Teamsters Trust. (From a previous life)
Translation: We expect a bail-out.
But I thought Boinie wanted to take trucks off the road and put the load on rail?
Those with large IRAs should expect another push for the government to “help” you manage your account.
#NegativeInterestRatesMatter