In The News Today

Posted at 5:06 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Wiping out nearly two years of “growth”…

“It Could Never Happen Again…Right?”
November 20, 2018

Is it really different this time?

 

 

 

 

 

 

 

FANG Stocks just hit 10-month lows…

 

 

 

 

 

 

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Bill Holter’s Commentary

In Texas they call this “one drunk holding up another drunk”…

Lawmakers Consider Multibillion Bailout For Troubled Pensions, Retirees
November 20, 2018

WASHINGTON – Top lawmakers are considering a taxpayer-funded bailout for retirees who are members of certain failing pension plans, scrambling to solve a retirement crisis that threatens more than 1 million Americans.

A draft of the plan, obtained by The Washington Post, would direct the Treasury Department to spend up to $3 billion annually to subsidize payments for retirees from certain underfunded pensions.

The retirement programs are called “multiemployer” pensions, as workers from multiple companies pay into the same retirement benefit program. But many of these pensions lack the financial assets to cover the benefits they have promised retired workers, leading to a panic from retirees who were counting on the funds. These pensions have often been plagued by mismangement, inaccurate economic projections, and in some cases corporate bankruptcies.

In many cases, the companies these pensioners used to work for no longer exist or no longer participate in the retirement plan.

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