Monday, May 12, 2008

Another Pension Bomb

Michael Panzer has a nice post about state and locality pension problems at, 11 May 2008. I have nothing to add to his comments.

1 comment:

Edgar Alpo said...

My thinking is that average Americans will be up to their eyeballs in debt, the gubbermint too. They will sell off the plumbing in the house to the Chinese and such. House prices will go down but the uber wealthy will keep stealing hand over fist. The deflation will be for the chumps, the real money is in the top 1%, and they own the system. Therefore, ergo, they will never lose, because the gubbermint will make sure they don't lose. Until I see evidence that the uber-wealthy in this country are losing vast sums I doubt the deflation argument. Even if we enter the GD2, the wealthy will still have their millions and billions. Best of everything.