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Off topic, hat tip to Leo for calling the reinflation trade all the way from the lows. Sincerely hope you made a motza on your solars. You were a lone bull in a crowd of gloomers. Well done
"Some employers and unions are concerned higher premiums would lead businesses to freeze or even terminate pension plans" - Yeah, it's called reality. Sorry you have to finally face it, but comes a time
you have to be a stupid public pig, drunk on the gravy, to want to be holding IOUs in this world.....WORTHLESS !
The government should not be in the business to make money. If it makes money, than it takes money from the people.
The government is a necessary parasite, and should provide minimum intrusion.
401 K plans suck!!!, they are a ponzi scheme for the financial services industry to rip off the american worker with a parasitic fee based system, and when the big banks need money they take it from the 401K's. Also employers use it as a weapon. The cuts are starting, and now you will see the bullshit flow and guess what nothing will change because the political and financial system is set up to encourage a downward spiral into financial ruin. You just have to make sure you unload your paper to the bigger fool when it crashes.
Unfortunately, this is probably necessary to pay for all of the deadbeat companies planning to dump their contractual obligations on the backs of the taxpayers.
"The PBGC is unable to adjust the premiums ...led to chronic and severe underfunding of the agency."
Anybody at the PBGC been sacked for their total incompetence to project accurately? Has the PBGC directors been fined and run out of public office for being dumber than mud and leaving the org' in shit state?
Answers on a Postcard to: 'Jobs for the Boys', Incompetence is a 100% Guaranteed Public Sector Outcome, Washington, (Postcode. RE TARD)
Watch for more of these backdoor.bailouts. these actuarily retarded union hijacked old industry companies just need to go under and take.their plans with them. The riskiest companies cant truly pay a.risk adjusted premium. This higher premium for riskier companies is a joke, but right now they need to buy some time until these old industry companies, under a form of regulatory capture by their union thugs, figure out how to get taxpayers to pay these pie in the sky pension and health care promises.
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