ActionfigureJoe Posted October 10, 2018 Share Posted October 10, 2018 https://m.france24.com/en/20181010-trillions-us-net-worth-vulnerable-recession-imf Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 10, 2018 Share Posted October 10, 2018 Kinda feels like a correction....I'll be lucky to finish the year positive Quote Link to comment Share on other sites More sharing options...
racer254 Posted October 10, 2018 Share Posted October 10, 2018 (edited) But the biggest source of risk comes from state and local government retirement pensions, which can lose money when Wall Street sinks -- meaning the shortfall has to come out of local government budgets. Towns and states then have to cut spending elsewhere, creating a drag on the economy. Nationwide, such pension funds are already underfunded by about eight percent of GDP. Edited October 10, 2018 by racer254 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 10, 2018 Platinum Contributing Member Share Posted October 10, 2018 When isn't it at risk? Quote Link to comment Share on other sites More sharing options...
motonoggin Posted October 10, 2018 Share Posted October 10, 2018 Tremendous deficits lead to a tremendous economy. Reagan taught us that. MAGA TRUMP 2020! Quote Link to comment Share on other sites More sharing options...
racer254 Posted October 10, 2018 Share Posted October 10, 2018 (edited) 13 minutes ago, motonoggin said: Tremendous deficits lead to a tremendous economy. Reagan taught us that. MAGA TRUMP 2020! But these risks (deficits) are caused by retirement pension obligations. Edited October 10, 2018 by racer254 Quote Link to comment Share on other sites More sharing options...
motonoggin Posted October 10, 2018 Share Posted October 10, 2018 4 minutes ago, racer254 said: But these risks (deficits) are caused by retirement pension obligations. Fuck old people! MAGATRUMP2020! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 10, 2018 Platinum Contributing Member Share Posted October 10, 2018 Economies/markets are cyclical. Deal with it. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 10, 2018 Share Posted October 10, 2018 28 minutes ago, racer254 said: But the biggest source of risk comes from state and local government retirement pensions, which can lose money when Wall Street sinks -- meaning the shortfall has to come out of local government budgets. Towns and states then have to cut spending elsewhere, creating a drag on the economy. Nationwide, such pension funds are already underfunded by about eight percent of GDP. There it is. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 10, 2018 Share Posted October 10, 2018 Slow steady growth is bad. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 10, 2018 Share Posted October 10, 2018 2 minutes ago, Mainecat said: Slow steady growth is bad. They are not hitting required target return of 7.5% without risk. Beta bonds and GIC's just won't cut it. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 10, 2018 Share Posted October 10, 2018 Actually... a correction would be Obama's fault! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 10, 2018 Platinum Contributing Member Share Posted October 10, 2018 Just because the market retracts doesn't mean we will go into a recession. As interest rates rise people will always diversify. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 10, 2018 Author Share Posted October 10, 2018 1 hour ago, racer254 said: But the biggest source of risk comes from state and local government retirement pensions, which can lose money when Wall Street sinks -- meaning the shortfall has to come out of local government budgets. Towns and states then have to cut spending elsewhere, creating a drag on the economy. Nationwide, such pension funds are already underfunded by about eight percent of GDP. WRS is completely self funded. None of that applies. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 10, 2018 Author Share Posted October 10, 2018 58 minutes ago, motonoggin said: Tremendous deficits lead to a tremendous economy. Reagan taught us that. MAGA TRUMP 2020! Trump and the GOP congress have created a ticking time bomb that some are refusing to see. My hope is that the GOP maintains their majority in Congress for when the economic shit hits the fan. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 10, 2018 Share Posted October 10, 2018 11 minutes ago, ActionfigureJoe said: Trump and the GOP congress have created a ticking time bomb that some are refusing to see. My hope is that the GOP maintains their majority in Congress for when the economic shit hits the fan. Someone on here told me govt spending doesnt affect the economy. Quote Link to comment Share on other sites More sharing options...
racer254 Posted October 10, 2018 Share Posted October 10, 2018 (edited) 23 minutes ago, ActionfigureJoe said: WRS is completely self funded. None of that applies. https://mediaspace.wisc.edu/media/t/0_l04zl4i6 Good read about it and why it works. https://www.bloomberg.com/view/articles/2018-05-09/wisconsin-s-pension-system-works-for-taxpayers-and-employees Edited October 10, 2018 by racer254 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 10, 2018 Author Share Posted October 10, 2018 42 minutes ago, racer254 said: https://mediaspace.wisc.edu/media/t/0_l04zl4i6 Good read about it and why it works. https://www.bloomberg.com/view/articles/2018-05-09/wisconsin-s-pension-system-works-for-taxpayers-and-employees It’s a very good and fair system. It’s not designed to be a pension that a person can depend on entirely. Although if a person lives frugal, they could survive on the pension and SS. It’s solvent and stable. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 10, 2018 Share Posted October 10, 2018 38 minutes ago, ActionfigureJoe said: It’s a very good and fair system. It’s not designed to be a pension that a person can depend on entirely. Although if a person lives frugal, they could survive on the pension and SS. It’s solvent and stable. Govt needs to get out of the pension administration business altogether. Too much potential for abuse. Individuals need to be responsible for their own retirement. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 10, 2018 Share Posted October 10, 2018 9 minutes ago, Nazipigdog said: Govt needs to get out of the pension administration business altogether. Too much potential for abuse. Individuals need to be responsible for their own retirement. If only Liberals could be responsible for themselves. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 10, 2018 Share Posted October 10, 2018 1 minute ago, ArcticCrusher said: If only Liberals could be responsible for themselves. Well I know quite a few liberals who do quite well for themselves. This is not a partisan issue. Truth of the matter is the govt (or people in charge of govt) cant be trusted with the management of your retirement when they can find ways to enrich themselves at your expense while undermining the tax payer. Its a disaster waiting to happen and its happening. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 10, 2018 Author Share Posted October 10, 2018 2 minutes ago, Nazipigdog said: Well I know quite a few liberals who do quite well for themselves. This is not a partisan issue. Truth of the matter is the govt (or people in charge of govt) cant be trusted with the management of your retirement when they can find ways to enrich themselves at your expense while undermining the tax payer. Its a disaster waiting to happen and its happening. I trust the board at WRS. They’ve never had an issue with unethical behavior. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 10, 2018 Share Posted October 10, 2018 Just now, ActionfigureJoe said: I trust the board at WRS. They’ve never had an issue with unethical behavior. Just because it hasnt happened yet doesnt mean it wont. Its a risk that should not be taken as proven countless times all over the country. Im not saying 401k or another retirement vehicle SHOULD be used but that should be determined by the individual. They can take their own risks as they are the ones that have to live with their choices. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 10, 2018 Share Posted October 10, 2018 6 minutes ago, Nazipigdog said: Well I know quite a few liberals who do quite well for themselves. This is not a partisan issue. Truth of the matter is the govt (or people in charge of govt) cant be trusted with the management of your retirement when they can find ways to enrich themselves at your expense while undermining the tax payer. Its a disaster waiting to happen and its happening. I agree, but really the entire industry works that way. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 10, 2018 Share Posted October 10, 2018 3 minutes ago, ArcticCrusher said: I agree, but really the entire industry works that way. Well around here the entire govt pension industry is crumbling from the abuse i mentioned. Its literally consuming the resources of entire states, counties and cities. Quote Link to comment Share on other sites More sharing options...
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