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Post by Rolling Thunder on Nov 22, 2016 7:02:50 GMT -5
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Post by Don on Nov 22, 2016 10:00:51 GMT -5
From the article in the OP. (Bolding mine) As noted above, this is just the canary in the coalmine. Pie-in-the-sky pension plans are in trouble all across the country. Their performance almost never matches the predictions that got them approved. 401(k)s and defined contribution plans aren't some nefarious plot to deprive the working man of a comfy retirement, they are economically sound ways to preserve and grow assets for future use.
You cannot guarantee pensions based on the future performance of investments, then base a promised payout on those optimistic estimates. Realistic pensions must make allowance for actual investment performance, or you have exactly the situation we see today.
Senator Whitmire seems to think economics is a game, and that if his side "wins" the economy will magically work the way somebody with a calculator claims it will. Senator Whitmire should listen to Peter Boettke.
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Post by Amadan on Nov 22, 2016 12:25:30 GMT -5
The previous generation is eating the seedcorn for the next.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Nov 22, 2016 12:35:58 GMT -5
worse comes to worst, we can slaughter and eat them.
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Post by celawson on Nov 22, 2016 12:41:17 GMT -5
Only if it's non-GMO corn
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