Biden's ESG Investment Rules Threaten Your Retirement Savings

Townhall ^ | 01/17/2023 | Steve Moore

[Mr. K]

If pResident stupidhead had done nothing (after stealing the election) but go golfing for 4 years he would have gone down in history as one of the greatest presidents in history

[semimojo]

...it's an entirely different matter when trillion-dollar investment and retirement funds such as BlackRock inject their own biases into the way they invest people's savings without their knowledge or consent.

Anyone who puts their money into BlackRock without doing the slightest bit of due diligence deserves sub-par returns.

No one has been a more visible or vocal proponent of ESG investing than Larry Fink.

Steve Moore is talking out of his butt, again.

[kabar]

Most of those pension plans are in serious trouble, especially state and municipal public employees. Taking them over means having the nation's taxpayers cover the shortfall. It would be similar to the government's takeover of the college loan program.

State, municipal pension plans have wider funding deficit

State and local pension funds had a $1.4 trillion funding deficit at the end of 2022, according to Equable Institute. Over the past year, assets fell by 4.5% to $4.9 trillion, while liabilities increased 3.7% to $6.4 trillion. The funding gap, which was just under $1 trillion at the end of 2021, jumped to $1.4 trillion, in line with previous years.

The funding ratio was 77.3%, down from 2021's 83.9%. From 2017 to 2021, it ranged from 71% to 73%.

[DCBryan1]

Ive been buying 4-5% coupon tax free munis. Haven’t seen 7-8% TEY in several years.

[SaxxonWoods]

“Ive been buying 4-5% coupon tax free munis. Haven’t seen 7-8% TEY in several years.”

I’ve been doing the same with short-term Treasuries since last June. 3mon was 4.65% today, 6mon is 4.83% Beats bank interest and no taxes. I have laddered them, so they come due frequently in case when I want to change allocation. Sitting on plenty of preferred stocks too, they are paying 7-8%.

[Vaduz]

Permit money managers to play politics with trillions of dollars of people’s retirement savings.

The slow take isn’t noticed as easily but it still takes.