The result of socialism...

[Rustic]

Lol
Typical of these fucked up socialists, no idea of what reality is...

Global Government Debt Is Actually Triple What We Thought, Thanks to Pensions

 

[OnePercenter]

Lol
Typical of these fucked up socialists, no idea of what reality it...

Global Government Debt Is Actually Triple What We Thought, Thanks to Pensions

It was actually the US derivatives market ($563T worldwide hit) where most pensions were vested. Why do you think Bush and Cheney don't travel.

 

[g5000]

Yep, during the great derivatives bubble, politicians of both stripes increased the benefits and/or decreased the defined contribution requirements of public pensions. So did private corporations and their pensions. They all drank the Wall Street Kool-Aid.

They all based their contributions and benefits on an expectation of a ROI of 8 percent over 20 years.

We're looking at an actual ROI of 4 percent, if that. Which means every pension on the planet is probably seriously underfunded.

 

[g5000]

Lol
Typical of these fucked up socialists, no idea of what reality it...

Global Government Debt Is Actually Triple What We Thought, Thanks to Pensions

It was actually the US derivatives market ($563T worldwide hit) where most pensions were vested. Why do you think Bush and Cheney don't travel.

Not just pensions. College endowment funds and insurance companies, too. Insurance companies don't make their big profits from premiums. They make their profits from investing premiums.

So that is one reason college tuition and health insurance costs have increased. Because of their losses on Wall Street.

Remember Larry Summers? He was Clinton's Secretary of the Treasury who fought to keep derivatives unregulated.

After serving as SecTreas, he went on to manage Harvard's endowment fund, and promptly lost $2 billion in the crash he helped cause. BWA-HA-HA-HA-HA!