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Teamsters Local 707 Goes Bankrupt
Wednesday, March 1, 2017 8:32
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armstrongeconomics.com / by Martin Armstrong / Mar 1, 2017
The Pension Crisis on the horizon is far worse than anyone can imagine. This is the final straw that will break the back of socialism the same as communism fell. Pensions are in a state of crisis for they lost money in stock in the 2007-2009 crash and then sold the bottom shifting to government bonds and then interest rates plummeted when they needed 8% to survive. The management skills have been nonexistent for the propaganda has always been that government bonds present no risk when in fact they are UNSECURED DEBT and the riskiest of all investments long-term.
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Source: http://silveristhenew.com/2017/03/01/teamsters-local-707-goes-bankrupt/
