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Another Liberal Governor Demands His State’s Pension Abandon Fiduciary Duties, Sell Fossil-Fuel Investments

As if public pension managers around the country weren’t having enough difficulty digging themselves out of their massive $3-$5 trillion funding gap, the chorus of liberal governors suggesting they should recklessly abandon their fiduciary obligations to future retirees and choose investments not on their financial merits but rather based on the political preferences of clueless […]


Moody’s Considers Municipal Ratings Changes That Could Push Illinois Into Junk Territory

A few weeks ago, we expressed some level of astonishment that the rating agencies, in their infinite wisdom, decided to bestow an investment grade rating upon a new $3 billion bond issuance by the City of Chicago.  Of course, this wouldn’t be such a big deal but for the fact that the state of Illinois […]


The Rude Awakening Of Slumbering Bulls

Authored by Lance Roberts via RealInvestmentAdvice.com, Near the end of each year, Barron’s magazine highlights the outlooks for the next year from 10, or so, Wall Street strategists. As noted recently by Sentiment Trader: “Strategists are a little more optimistic than the Big Money was, forecasting a gain of around 7% for the S&P 500 […]


Nearly Insolvent Illinois Just Issued AAA-Rated Bonds Via This Shady Goldman Sachs Financing Structure

The state of Illinois is a financial disaster that will undoubtedly be forced into bankruptcy at some point in the future.  As we’ve pointed out multiple times over the past several months, the state faces a staggering $130 billion funding gap on its public pensions, a mountain of debt and $16.4 billion in accrued payables […]


Fabrications Of Financial Media Superstars – Part One

Authored by Lance Roberts via RealInvestmentAdvice.com, Every day, the A-listers, those known around the world as household-name financial media royalty, are making public statements that if taken on the surface as actionable advice, are going to lead to unpleasant financial surprises. Not for them. For you. As authorities, no matter what they bloviate about on […]


Staggering Chart Shows Your Personal Share Of Your State’s Underfunded Pension

Back in March we shared the staggering results of a Bankrate survey which found that the average American household couldn’t afford to write a measly $500 check in the event of an unexpected emergency (see: “The Reality Is, Half Of Americans Can’t Afford To Write A $500 Check”).  Of course, as we note frequently, while […]


Six-Figure Pensions For University Of California Teachers Surge 60% Since 2012

Back in January 2017, the University of California system of schools approved their first in-state tuition hike in six years.  And while one might hope that the extra millions of dollars raised as a result of those hikes would go toward a better education for students, in reality, a large chuck will go to fund […]


Boomers Are Turning 71 – These 4 Charts Paint A Perfect Storm It Will Set Off For Investors

Authored by Stephen McBride via MauldinEconomics.com, Few investors understand the magnitude of the looming demographic crisis and its ramifications. The first Baby Boomers turned 70 last year. At the same time, the US fertility rate is at its lowest point since records began in 1909. This disastrous combination means by 2030, those aged 65 and […]


Here’s How Government Pension Funds Are Trying To Close Their $7 Trillion Funding Gap

Authored by Simon Black via SovereignMan.com, There may perhaps be no other group of investors that’s more DESPERATE today than pension funds. Pensions, of course, are the giant funds responsible for paying out retirement benefits to workers. The idea is that both the employer and the employee typically contribute a set percentage of the employee’s […]