-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Shall we hear from someone who actually has a clue? Here is John Bogle’s opinion: +++++++++++++++++++++++++++++++++++++++++++++++++++++ Stocks will return about 4% annually over the next decade or so rather than the 10% average annual returns of recent decades. A bond portfolio will return about 3.1% annually over the next 10 years. You can find the rationale for his numbers here, Source: https://www.cnbc.com/2017/11/20/jack-bogles-5-bold-investment-predictions-for-2018-and-beyond.html ++++++++++++++++++++++++++++++++++++++++++++++++++++++ So if you assume a 60-40 equity to debenture portfolio your expected return would be 3.64%. Now Saint John Bogle is not factoring in the Trump economy and provides an intermediate term forecast for the next 10… Read more »
Can not read article without subscribing. Went to their website same thing.
Something is flaky on their end. did not work last night, but read it earlier this morning, and now it’s behind a paywall again.