{"id":26200,"date":"2017-09-28T07:24:57","date_gmt":"2017-09-28T12:24:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=26200"},"modified":"2017-09-28T07:24:57","modified_gmt":"2017-09-28T12:24:57","slug":"what-could-go-wrong-for-public-pensions-more-than-you-know","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=26200","title":{"rendered":"What Could Go Wrong? For Public Pensions, More Than You Know"},"content":{"rendered":"
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What Could Go Wrong? For Public Pensions, More Than You Know<\/a><\/h3>\n

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Here\u2019s a loaded question for you: \u201cWhat could go wrong?\u201d<\/p>\n

In some contexts, it can express mistaken confidence, as in, \u201cSure I\u2019ll put my hand between that crocodile\u2019s jaws. What could go wrong?\u201d<\/p>\n

Investors should ask the same question before entering a position. \u201cWhat risks am I taking with this trade? What could go wrong if it doesn\u2019t go as planned?\u201d<\/p>\n

But here\u2019s the problem: What if you never think to ask the question because you have no idea you\u2019re in that trade?<\/p>\n

And guess what\u2014this is your<\/em> problem if you are a taxpayer anywhere in the US.<\/p>\n

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\nPhoto: DWS via <\/em>Flickr<\/em><\/a><\/small><\/p>\n

Pension Pain<\/strong><\/p>\n

Part of my job is helping John Mauldin with the research for his Thoughts from the Frontline<\/em> letters. Regular readers know John isn\u2019t a doom-and-gloom guru. He\u2019s optimistic on most of our big challenges.<\/p>\n

Except for a few things\u2014like the brewing state and local pension crisis.<\/p>\n

The more John and I dig into it, the worse it looks. We have both spent many hours trying to find any good news or a silver lining, without success.<\/p>\n

All over the US, states, cities, school districts, and other governmental entities have promised their workers generous retirement benefits, but haven\u2019t set aside enough cash to pay what they will owe. At some point, perhaps soon, either they will have to cut benefits to retirees or stick taxpayers with a huge bill, or both.<\/p>\n

You can read John\u2019s September 16 letter, Pension Storm Warning<\/a>, to learn more. Then you\u2019ll see why he says to Build Your Economic Storm Shelter Now<\/a>.<\/p>\n

What else could go wrong? Plenty.<\/p>\n

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…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

What Could Go Wrong? For Public Pensions, More Than You Know Here\u2019s a loaded question for you: \u201cWhat could go wrong?\u201d In some contexts, it can express mistaken confidence, as in, \u201cSure I\u2019ll put my hand between that crocodile\u2019s jaws. What could go wrong?\u201d Investors should ask the same question before entering a position. \u201cWhat […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[7758,16201,7383,690,1886,827,16202],"class_list":["post-26200","post","type-post","status-publish","format-standard","hentry","category-economics","tag-mauldin-economics","tag-patrick-watson","tag-public-pensions","tag-risk","tag-taxpayer","tag-united-states","tag-what-could-go-wrong"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26200"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26200\/revisions"}],"predecessor-version":[{"id":26201,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26200\/revisions\/26201"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}