The COVID emergency is officially over. The Russian invasion of Ukraine is not over. Now what? Not raising the U.S. debt ceiling is currently the single most important threat to the U.S. economy and standing on the world’s stage. Federal… Continue Reading →
As the parable goes, a frog in a kettle of boiling water won’t notice that it’s getting hotter and hotter until it’s too late and then he’s dead. I see at least three “frogs” at varying levels of boil: retirement… Continue Reading →
Public Pensions Consider this: you are saving for retirement and you have $100 in your pocket earning 7.25% interest. (We use that rate reported by the National Association of State Retirement Administrators, NASRA, as the current average, down from 8%.)… Continue Reading →
The city of Detroit does not need another financial setback. With unemployment topping 17% and ever increasing short term borrowing, the city is under an immediate survival imperative to cut spending or face insolvency. State revenue sharing is being cut… Continue Reading →
The check is not in the mail. Prichard, Alabama, came out of Chapter 9 bankruptcy in 2002 and promised to make deposits into its public pension fund. They didn’t and now they are simply out of money. Retirees did not… Continue Reading →
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