QE2 or you get a 20% pay cut

[dirkterrell]

Mismanaged is a vague generalization. I'll give you an empirical example. My Union pension is now at "endangered" stage. Meaning that we are between 70-85% solvent. Our pension took a dive when the stock market took a massive shit in '08.

Then it was mismanaged. Clearly it was too heavily invested in equities for the payouts it had to make.

And yes, the banksters have pulled off some massive fraud, especially on the MBS stuff. They're trying to get out of paying for the mess they've created and the politicians are playing right along. But bullshit can't overcome the mathematical realities in play forever, and the more of this quantitative easing crap they foist on us, the more disastrous the final collapse will be.

Dirk