About a week ago I wrote that the potential for a state and municipal fiscal and public sector pension crisis is a defining issue for the next downturn here in the US. Global strategy and research company 13D joins me in worrying about it.
Underfunded pensions mean crisis
Here's what they write:
Fully-funded pensions are by their very design a mathematical impossibility —a topic we have discussed at length in these pages. In an effort to outrun their inevitable day of reckoning, these funds h...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.