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|User Info||Tickerguy With Warren Pollock (Part 1, Pension Ponzi); entered at 2012-06-03 11:46:02|
Karl, that was really interesting. You always seem to be such a clear thinker and stick to the math and ignore the political BS that inundates every other discussion on this matter. It seems we are boxed into a corner on this one. If the necessary thing is done, cut pensions to a reasonable facsimile of what they should be, the impact will be huge as I'm sure a lot these pensioners are still levered up on houses and toys, etc. No reason to save money when you have a "guaranteed" pension. Even the ones who are not, it will have a huge impact on consumption. If they don't cut them it goes kaboom anyways and the impact is even worse. I don't see the way out of this mess.