Friday, March 3, 2017

Pensions failing

Mish reporting:

Pension Benefit Guarantee Corporation Running Out of Cash, Millions Affected

The PBGC is a government mandated insnurance program for  pensions. Failing because pension funds insure duration when union members plot to hedge duration/.  Union members, en mass, plot the optimum retirement point, and take into account available funds.  Government insures time, a prsecription for bankruptcy.

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