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  1. #1
    I Am Rocking Now

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    Default Coronavirus Is Making the Public Pension Crisis Even Worse

    Coronavirus Is Making the Public Pension Crisis Even Worse
    https://www.nytimes.com/2020/04/02/b...c-pension.html
    The pandemic has handed the funds big losses after they ramped up their appetite for risk over the past decade.

    Last week, Moody’s investors service estimated that state and local pension funds had lost $1 trillion in the market sell-off that began in February. The exact damage is hard to determine, though, because pension funds do not issue quarterly reports.


    “You’re not going to see real data on the market crash until Christmas,” said Girard Miller,
    Last edited by Jimmy; 04-14-2020 at 03:39 PM. Reason: removed extra quote tags

  2. #2
    Scab Hating Union Thug

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    Default Re: Coronavirus Is Making the Public Pension Crisis Even Worse

    Everyone that earned their pension deserves to collect it. The solution for everyone else with their hand out? Just print more money.

    Sent from my SM-J327T using Tapatalk

  3. Likes fedexnuno, fxstc07 Liked this post
  4. #3
    I Am Rocking Now

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    Default Re: Coronavirus Is Making the Public Pension Crisis Even Worse

    Quote Originally Posted by strapdrager View Post
    Coronavirus Is Making the Public Pension Crisis Even Worse
    https://www.nytimes.com/2020/04/02/b...c-pension.html
    The pandemic has handed the funds big losses after they ramped up their appetite for risk over the past decade.
    The stock market has come back 50% of what it lost.. The Pension funds will use that as an excuse to cut the pensions..

  5. #4
    I Am Rocking Now

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    Default Re: Coronavirus Is Making the Public Pension Crisis Even Worse

    Quote Originally Posted by 222lifer View Post
    Everyone that earned their pension deserves to collect it. The solution for everyone else with their hand out? Just print more money.

    Sent from my SM-J327T using Tapatalk
    I agree with you on everyone deserves what they worked for.. Print more money?? Isn't that what the Fed is doing?? I see pictures everyday on the TV with the presses printing $100 bills..

  6. #5
    I Am Rocking Now

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    Default Re: Coronavirus Is Making the Public Pension Crisis Even Worse

    The spending has yet to begin to save all this.
    If the rest of the world loses faith in America and it's dollar then all is lost.
    No country has the ability to print money without serious consequences.
    Think Venezuela.

  7. #6
    Retired !

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    Default Re: Coronavirus Is Making the Public Pension Crisis Even Worse

    Quote Originally Posted by strapdrager View Post
    The spending has yet to begin to save all this.
    If the rest of the world loses faith in America and it's dollar then all is lost.
    No country has the ability to print money without serious consequences.
    Think Venezuela.
    If the country is in debt, they sure are acting like Fort Knox is stuffed with gold.
    Obviously the country won't climb out of the monetary mess anytime soon, if ever.



    Sent from my SM-G970U using Tapatalk

 

 

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