No less that four of my readers have sent me information regarding the mess the state and local pension funds are in. State and local employees represent 12% of the workforce but 64% of unfunded pension liabilities. Chapter 9 might be the answer in the near future. Beware if you are a holder of muni Read the full article…
Are private bankers, wealth managers, investment counselors, and money managers only worth their fees in a bull market? It would appear so. They have become collective weathermen. All they are doing today is trying to forecast the timing of the economic turnaround. Or, they spend their days trying to defend the trillions they have lost their clients in Read the full article…
There has to be a pony is this pile somewhere. We are not in recession, we are in a full blown depression. Remember, the brains in Washington didn’t acknowledge we were in a recession until last fall. Is there anything positive we can get from all this? None of this has happened, but we might Read the full article…
