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RE: Why Public Pension Funds are Headed for Disaster
Thank you for posting this @genicon.
You nailed it...the politician buy votes so they give into to the unions for future demands knowing they will be out of office. Not that unions dont have a place, they do. However, the sad fact is the public sector doesnt operate like the private sector. There, the unions and management have to agree, at least in principle to save the entity...they cant kill the golden goose. Politicians do not have that concern.
The fact is most pension funds never recovered from the bank heist of 2008 where they collapsed the world economy. In the end, we will need to see a UBI since technology is wiping out a a ton of jobs.
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