up
Renting underrated but that's just me..
small place and cheap rent.. Vs having the headache/cost of house upkeep, property taxes, higher utility bills cause of larger space and having to pay other bills like trash removal, sewer etc, having to sell home quickly if you need to move locations.. Etc etc..
thats part of reason average rents so high many thinking like me.. And don't want anything to do with home "ownership" (debt slave till you pay it off or find somebody else to buy it).. They value their freedom and "home" is just a place to sleep mainly... And don't want to have to bother with all the time wasting tasks associated with home ownership...
small place and cheap rent.. Vs having the headache/cost of house upkeep, property taxes, higher utility bills cause of larger space and having to pay other bills like trash removal, sewer etc, having to sell home quickly if you need to move locations.. Etc etc..
thats part of reason average rents so high many thinking like me.. And don't want anything to do with home "ownership" (debt slave till you pay it off or find somebody else to buy it).. They value their freedom and "home" is just a place to sleep mainly... And don't want to have to bother with all the time wasting tasks associated with home ownership...
All the "safe" big cap divy stock that recently made a final push into silly overvalued territory starting to roll over.. Think the end is finally near...
can they keep it up for another 10 1/2 weeks.. Chance of fed raising rates before election are zero...
can they keep it up for another 10 1/2 weeks.. Chance of fed raising rates before election are zero...
[h=1]Existing home sales tumble amid low inventory, higher prices[/h]
Photo: Photo by Joe Raedle/Getty Images
A for sale sign is seen in front of a home in Miami, Florida.
A scarcity of affordable homes on the market helped drag down existing homes sales in July as low inventory levels and higher prices put an end to a four-month climb.
Existing home sales fell 3.2% to a seasonally adjusted annual rate of 5.39 million from a revised 5.57 million in June, according to the National Association of Realtors. That includes transactions of single-family homes, townhomes, condominiums and co-ops.
“Severely restrained inventory and the tightening grip it’s putting on affordability is the primary culprit for the considerable sales slump throughout much of the country last month,” said Lawrence Yun, chief economist at the association.
Existing homes for sale ticked up 0.9% from a month ago to 2.13 million homes, but is still down 5.8% from a year ago. That's the 14th straight month of year-over-year decline.
Meanwhile, the median sale price showed no sign of cooling down. It climbed 5.3% to $244,100 from a year ago, the 53rd straight month of year-over-year growth.
"Realtors are reporting diminished buyer traffic because of the scarce number of affordable homes on the market," Yun said.
Transactions of single-family homes slipped 2% from last month to a seasonally adjusted annual rate of 4.82 million and is 0.8% below a year ago. Sales of multi-family houses, including condominium and co-ops, declined 12.3% to 570,000.
The West was the only region that posted sales growth, rising 2.5% to an annual rate of 1.23 million, yet still slightly below a year ago. Existing home sales in the South, Midwest and Northeast all decreased.
A for sale sign is seen in front of a home in Miami, Florida.
A scarcity of affordable homes on the market helped drag down existing homes sales in July as low inventory levels and higher prices put an end to a four-month climb.
Existing home sales fell 3.2% to a seasonally adjusted annual rate of 5.39 million from a revised 5.57 million in June, according to the National Association of Realtors. That includes transactions of single-family homes, townhomes, condominiums and co-ops.
“Severely restrained inventory and the tightening grip it’s putting on affordability is the primary culprit for the considerable sales slump throughout much of the country last month,” said Lawrence Yun, chief economist at the association.
Existing homes for sale ticked up 0.9% from a month ago to 2.13 million homes, but is still down 5.8% from a year ago. That's the 14th straight month of year-over-year decline.
Meanwhile, the median sale price showed no sign of cooling down. It climbed 5.3% to $244,100 from a year ago, the 53rd straight month of year-over-year growth.
"Realtors are reporting diminished buyer traffic because of the scarce number of affordable homes on the market," Yun said.
Transactions of single-family homes slipped 2% from last month to a seasonally adjusted annual rate of 4.82 million and is 0.8% below a year ago. Sales of multi-family houses, including condominium and co-ops, declined 12.3% to 570,000.
The West was the only region that posted sales growth, rising 2.5% to an annual rate of 1.23 million, yet still slightly below a year ago. Existing home sales in the South, Midwest and Northeast all decreased.
An international government bitchfight over taxes.... ooh
Get your hands off our cash! Bitch!
-------------------------
US criticises EU tax probes ahead of Apple ruling
The US Treasury Department has warned the European Commission about taking action against US companies over tax avoidance allegations.
The commission is investigating tax deals granted to US companies for setting up headquarters in Europe.
Next month the EU is expected to deliver its decision on Apple. The company could be hit with a multi-billion pound bill for unpaid taxes.
Apple has been accused of sheltering billions of pounds in profit in the Republic of Ireland tax-free, under a deal it reached with Irish authorities. JP Morgan, an investment banker for Apple, has said the company could face a bill for $19bn (£14.3bn) in a worst-case scenario.
http://www.bbc.co.uk/news/business-37179785
Get your hands off our cash! Bitch!
-------------------------
US criticises EU tax probes ahead of Apple ruling
The US Treasury Department has warned the European Commission about taking action against US companies over tax avoidance allegations.
The commission is investigating tax deals granted to US companies for setting up headquarters in Europe.
Next month the EU is expected to deliver its decision on Apple. The company could be hit with a multi-billion pound bill for unpaid taxes.
Apple has been accused of sheltering billions of pounds in profit in the Republic of Ireland tax-free, under a deal it reached with Irish authorities. JP Morgan, an investment banker for Apple, has said the company could face a bill for $19bn (£14.3bn) in a worst-case scenario.
http://www.bbc.co.uk/news/business-37179785
[h=1]N Dakota pulls water tanks from pipeline protest site as judge urges compromise[/h]America
Publicado: 24 Aug 2016 | 19:40 GMT
YouTube /North Dakota authorities have removed drinking water tanks from a camp central to protests over the Dakota Access Pipeline. Positioned upstream from tribal land, the pipeline will threaten sacred indigenous sites and drinking-water sources, opponents say.
With temperatures at the campsite reaching around 90 degrees Fahrenheit, North Dakota's homeland security director had the tanks and state-owned, air conditioned trailers removed from the protest site, near the confluence of the Cannonball and Missouri Rivers, on Monday.
The items had been delivered a week ago by the state Department of Health at the request of the Standing Rock Sioux Tribe, which has led opposition to construction of the 1,172-mile long pipeline that would stretch from North Dakota to Illinois and cross underneath the Missouri River, which provides water to the tribe’s 8,500-strong community, according to the Standing Rock Sioux Tribe Department of Water Resources.
Officials said that alleged reports of illegal activity surrounding the protest site, including the use of lasers pointed at pilots monitoring the campsite, was the impetus for their actions. In the last two weeks, 29 people have been arrested at the campsite, the tribal chairman included, for blocking entry to construction sites. Two incidents of alleged use of laser pointers aimed at aircraft flying over the campsite are being investigated by authorities. One pilot claimed to be blinded temporarily, according to the Morton County Sheriff's Department.
"Based on the scenario down there, we don't believe that equipment is secure,"Homeland Security Division Director Greg Wilz said, according to the Forum News Service.
Protesters had complained that the aircraft were used to destabilize cell phone service, though Morton County Sheriff Kyle Kirchmeier disputed that assertion, saying the planes are used for public safety purposes.
North Dakota Governor Jack Dalrymple also reached out to federal officials for help managing the growing protests, which have reached between 2,000 and 4,000 people, according to reports.
"I've been getting notifications from tribes all over the country that have caravans in route, so it's continuing to grow," Standing Rock spokesman Steven Sitting Bear told Forum News Service.
On Friday, Dalrymple issued an emergency declaration that freed state resources to manage the protests, which are centered on land owned by the US Army Corps of Engineers.
Corps spokeswoman Eileen Williamson said it is monitoring the campsite, but no particular action is in the works.
"At this point, there is not a permit, but it is my understanding they are requesting a permit," she said of the protests, according to Forum News Service. She added that while permitless protesters can be ticketed by the Corps, only law enforcement are authorized to remove them.
"We want to make sure that things are handled peaceably," she said.
[h=4]Legal action[/h]Work on the contentious $3.7 billion pipeline is temporarily on pause. On August 10, Standing Rock filed an emergency injunction in an attempt to delay construction long enough for their concerns to be heard. Chief among them are the potential to contaminate the tribe’s main drinking source and their potential responsibility for cleaning up toxic spills that could seep into their land.
The tribe has been protesting the construction for months by holding prayer-ins near construction. However, the situation escalated in mid-August when a dozen protesters were arrested for coming too close to construction. Last week, Dakotas Access LLC, the pipeline's developer, confirmed that it would press charges against the protesters and seek to file restraining orders against them in order to block opposition from the site. Standing Rock Sioux leaders are being represented by former North Dakota US Attorney Tim Purdon.
The company also agreed to halt construction until its case could be heard in federal court. On Monday, a federal judge postponed a hearing that would have determined whether protesters could be blocked from the protest site.
"The parties are strongly encouraged to meet and confer in good faith in an attempt to resolve this dispute prior to the hearing," the judge wrote, according to the Wall Street Journal.
Energy Transfer Partners LP, the builders of the pipeline, has continued construction at other points on the planned route. The pipeline would be a major carrier of crude oil from North Dakota's Bakken Shale formation to the Midwest and down to the Gulf of Mexico, leading some to see it as Keystone XL 2.0, named after the Canada-to-Texas tar sands pipeline that was eventually blocked by the Obama administration.
A coalition of indigenous groups in opposition to the pipeline called Tuesday for more attention from human rights groups to defend their position.
The pipeline "threatens the ancestral sites that are significant to our tribe. And we never had an opportunity to express our concerns," Dave Archambault, chair of the Standing Rock Sioux Tribe, toldDemocracy Now.
"This is a corporation that is coming forward and just bulldozing through without any concern for tribes. And the things that have happened to tribal nations across this nation have been unjust and unfair, and this has come to a point where we can no longer pay the costs for this nation’s well-being."
Publicado: 24 Aug 2016 | 19:40 GMT
With temperatures at the campsite reaching around 90 degrees Fahrenheit, North Dakota's homeland security director had the tanks and state-owned, air conditioned trailers removed from the protest site, near the confluence of the Cannonball and Missouri Rivers, on Monday.
The items had been delivered a week ago by the state Department of Health at the request of the Standing Rock Sioux Tribe, which has led opposition to construction of the 1,172-mile long pipeline that would stretch from North Dakota to Illinois and cross underneath the Missouri River, which provides water to the tribe’s 8,500-strong community, according to the Standing Rock Sioux Tribe Department of Water Resources.
Officials said that alleged reports of illegal activity surrounding the protest site, including the use of lasers pointed at pilots monitoring the campsite, was the impetus for their actions. In the last two weeks, 29 people have been arrested at the campsite, the tribal chairman included, for blocking entry to construction sites. Two incidents of alleged use of laser pointers aimed at aircraft flying over the campsite are being investigated by authorities. One pilot claimed to be blinded temporarily, according to the Morton County Sheriff's Department.
"Based on the scenario down there, we don't believe that equipment is secure,"Homeland Security Division Director Greg Wilz said, according to the Forum News Service.
Protesters had complained that the aircraft were used to destabilize cell phone service, though Morton County Sheriff Kyle Kirchmeier disputed that assertion, saying the planes are used for public safety purposes.
North Dakota Governor Jack Dalrymple also reached out to federal officials for help managing the growing protests, which have reached between 2,000 and 4,000 people, according to reports.
"I've been getting notifications from tribes all over the country that have caravans in route, so it's continuing to grow," Standing Rock spokesman Steven Sitting Bear told Forum News Service.
On Friday, Dalrymple issued an emergency declaration that freed state resources to manage the protests, which are centered on land owned by the US Army Corps of Engineers.
Corps spokeswoman Eileen Williamson said it is monitoring the campsite, but no particular action is in the works.
"At this point, there is not a permit, but it is my understanding they are requesting a permit," she said of the protests, according to Forum News Service. She added that while permitless protesters can be ticketed by the Corps, only law enforcement are authorized to remove them.
"We want to make sure that things are handled peaceably," she said.
[h=4]Legal action[/h]Work on the contentious $3.7 billion pipeline is temporarily on pause. On August 10, Standing Rock filed an emergency injunction in an attempt to delay construction long enough for their concerns to be heard. Chief among them are the potential to contaminate the tribe’s main drinking source and their potential responsibility for cleaning up toxic spills that could seep into their land.
The tribe has been protesting the construction for months by holding prayer-ins near construction. However, the situation escalated in mid-August when a dozen protesters were arrested for coming too close to construction. Last week, Dakotas Access LLC, the pipeline's developer, confirmed that it would press charges against the protesters and seek to file restraining orders against them in order to block opposition from the site. Standing Rock Sioux leaders are being represented by former North Dakota US Attorney Tim Purdon.
The company also agreed to halt construction until its case could be heard in federal court. On Monday, a federal judge postponed a hearing that would have determined whether protesters could be blocked from the protest site.
"The parties are strongly encouraged to meet and confer in good faith in an attempt to resolve this dispute prior to the hearing," the judge wrote, according to the Wall Street Journal.
Energy Transfer Partners LP, the builders of the pipeline, has continued construction at other points on the planned route. The pipeline would be a major carrier of crude oil from North Dakota's Bakken Shale formation to the Midwest and down to the Gulf of Mexico, leading some to see it as Keystone XL 2.0, named after the Canada-to-Texas tar sands pipeline that was eventually blocked by the Obama administration.
A coalition of indigenous groups in opposition to the pipeline called Tuesday for more attention from human rights groups to defend their position.
The pipeline "threatens the ancestral sites that are significant to our tribe. And we never had an opportunity to express our concerns," Dave Archambault, chair of the Standing Rock Sioux Tribe, toldDemocracy Now.
"This is a corporation that is coming forward and just bulldozing through without any concern for tribes. And the things that have happened to tribal nations across this nation have been unjust and unfair, and this has come to a point where we can no longer pay the costs for this nation’s well-being."
[h=1]Changing opinions on climate change[/h](CNN) - Although climate change is thought of as simply a political football, it has been a heated topic among meteorologists for years. I, for one, have changed my conclusion over time on whether humans are responsible for the increased heat content of the Earth.
I write this article not to change your mind about global warming; I simply want to show you why I changed mine.
Early in my scientific studies at Nebraska, most believed that humans could never pollute this massive globe enough to make a measurable difference.
As a student, I learned to never exclude any possibility until ultimately that possibility is proven false. It was called skepticism, not denial, and skepticism is a key foundation of the scientific process. In the '80s and '90s there seemed to be many other potential causes of climate change, not only humans.
Volcanoes, solar fluctuations, city heat-islands, concrete production and yes, even the cattle population. The list went on and on and seemed endless. I wondered if all these potential causes were given adequate consideration?
We also thought the ocean might be in more trouble, because it absorbs the CO2 and creates carbonic acid and changes the water's pH.
In 2009 an American Meteorological Society survey showed that only 24% of on-air meteorologists agreed with the statement, "Most of the warming since 1950 is VERY LIKELY human induced." I did not agree because I did not like the term VERY LIKELY. I did not yet have the entire picture. I had not excluded all other possibilities. I wasn't denying human-caused climate change, but I remained skeptical.
2010 was a turning point for me. That year was the hottest year on record, even though there was a La Niña present, a process that should have cooled the planet.
Down went the other potential causes:
There were no volcanoes producing huge amounts of CO2.
The sun was not getting hotter.
Satellite-derived temperature readings ruled out the heat-island effect.
Even "The Pause" (the so-called period post-1998 that showed very little warming of the planet for about 15 years) had been shattered.
They are all now called "zombie theories," long since debunked myths about climate change that skeptics will continually bring up to counter the facts of man-made climate change.
Then in 2013 the CO2 concentration crossed 400 parts per million and I knew the globe was in trouble. No longer was I only concerned with ocean acidification, it seemed the ocean was not capable of absorbing the massive quantities of CO2 that humans were emitting. The plants were not absorbing CO2 fast enough through photosynthesis and converting it to oxygen.
I was no longer a skeptic. Humans were polluting the atmosphere to a point of no return. I had finally excluded all other possibilities. Had I flip-flopped? Well, that is what it would be called in politics. But in science, it is just an evolution of understanding. I concluded that my original theory of "it could be something else" wasn't likely the case.
As I tell my 11-year-old, "It's OK to be wrong as long as you learn from your mistakes."
The records continue to be shattered every year. The 15 hottest years on record have been since 2001 except for 1998. 2016 will likely be the hottest year on record, breaking the old record set in 2015, and the beat goes on. With each year, with each major disaster, it becomes harder to be a skeptic of man-made climate change -- and that is why I am not one.
Copyright 2016 by CNN NewSource. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
I write this article not to change your mind about global warming; I simply want to show you why I changed mine.
Early in my scientific studies at Nebraska, most believed that humans could never pollute this massive globe enough to make a measurable difference.
As a student, I learned to never exclude any possibility until ultimately that possibility is proven false. It was called skepticism, not denial, and skepticism is a key foundation of the scientific process. In the '80s and '90s there seemed to be many other potential causes of climate change, not only humans.
Volcanoes, solar fluctuations, city heat-islands, concrete production and yes, even the cattle population. The list went on and on and seemed endless. I wondered if all these potential causes were given adequate consideration?
We also thought the ocean might be in more trouble, because it absorbs the CO2 and creates carbonic acid and changes the water's pH.
In 2009 an American Meteorological Society survey showed that only 24% of on-air meteorologists agreed with the statement, "Most of the warming since 1950 is VERY LIKELY human induced." I did not agree because I did not like the term VERY LIKELY. I did not yet have the entire picture. I had not excluded all other possibilities. I wasn't denying human-caused climate change, but I remained skeptical.
2010 was a turning point for me. That year was the hottest year on record, even though there was a La Niña present, a process that should have cooled the planet.
Down went the other potential causes:
There were no volcanoes producing huge amounts of CO2.
The sun was not getting hotter.
Satellite-derived temperature readings ruled out the heat-island effect.
Even "The Pause" (the so-called period post-1998 that showed very little warming of the planet for about 15 years) had been shattered.
They are all now called "zombie theories," long since debunked myths about climate change that skeptics will continually bring up to counter the facts of man-made climate change.
Then in 2013 the CO2 concentration crossed 400 parts per million and I knew the globe was in trouble. No longer was I only concerned with ocean acidification, it seemed the ocean was not capable of absorbing the massive quantities of CO2 that humans were emitting. The plants were not absorbing CO2 fast enough through photosynthesis and converting it to oxygen.
I was no longer a skeptic. Humans were polluting the atmosphere to a point of no return. I had finally excluded all other possibilities. Had I flip-flopped? Well, that is what it would be called in politics. But in science, it is just an evolution of understanding. I concluded that my original theory of "it could be something else" wasn't likely the case.
As I tell my 11-year-old, "It's OK to be wrong as long as you learn from your mistakes."
The records continue to be shattered every year. The 15 hottest years on record have been since 2001 except for 1998. 2016 will likely be the hottest year on record, breaking the old record set in 2015, and the beat goes on. With each year, with each major disaster, it becomes harder to be a skeptic of man-made climate change -- and that is why I am not one.
Copyright 2016 by CNN NewSource. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The records continue to be shattered every year. The 15 hottest years on record have been since 2001 except for 1998. 2016 will likely be the hottest year on record, breaking the old record set in 2015
That's my main contention really. I was around in the late 1970s early 80s and one of our jobs was collecting data for the hydrological guys and the Met guys when we ran out of Miami. Data collection and measuring was really pretty crappy, almost hit and miss. It was all pretty amateurish and muddling through
Accurate data hasn't been around until say the mid 1990s, accurate conclusions are simply not possible over such short time periods where the planet is concerned
I'm in favour of pollution reduction though, humans don't half make a bluddy mess and we need to pull our finger out
That's my main contention really. I was around in the late 1970s early 80s and one of our jobs was collecting data for the hydrological guys and the Met guys when we ran out of Miami. Data collection and measuring was really pretty crappy, almost hit and miss. It was all pretty amateurish and muddling through
Accurate data hasn't been around until say the mid 1990s, accurate conclusions are simply not possible over such short time periods where the planet is concerned
I'm in favour of pollution reduction though, humans don't half make a bluddy mess and we need to pull our finger out
More disingenuous propaganda nonsense
Generating inflation is the easiest thing in the world, you give people wage rises and away it goes
-----------------------------------------------------
Japanese inflation sinks to new low
Japan's consumer prices dropped for the fifth consecutive month in July, adding to pressure on the government to expand its already massive stimulus programme.
The data was worse than estimates had suggested and marked the biggest annual drop in more than three years.
The consumer price index, which excludes volatile food prices, fell by 0.5% compared with a year earlier.
Tokyo has been trying to raise inflation for years to stimulate spending and boost the economy.
blah blah blah blah blah blah blah blah blah blah
http://www.bbc.co.uk/news/business-37192640
Generating inflation is the easiest thing in the world, you give people wage rises and away it goes
-----------------------------------------------------
Japanese inflation sinks to new low
Japan's consumer prices dropped for the fifth consecutive month in July, adding to pressure on the government to expand its already massive stimulus programme.
The data was worse than estimates had suggested and marked the biggest annual drop in more than three years.
The consumer price index, which excludes volatile food prices, fell by 0.5% compared with a year earlier.
Tokyo has been trying to raise inflation for years to stimulate spending and boost the economy.
blah blah blah blah blah blah blah blah blah blah
http://www.bbc.co.uk/news/business-37192640
Japan has more and more old people sitting around doing nothing and not spending eek..
The youngins are the big producers/spenders.. As nations age deflation is nearly impossible to beat.. Short of helicoptering money to the masses .. Only way they can really do it is just hand people checks for nothing (and hope they spend it vs pay down debt)
Japan has proved this and then rest of the western world now going down that path..
only real solution is open up borders to bring in youngins that will make lotsa youngins.. Well the ones that'll actually bother to work and spend .. Vs be a welfare whore or hate America person.. Good luck screening for that in this day and age lol
fiat based Ponzi schemes are great!!!
The youngins are the big producers/spenders.. As nations age deflation is nearly impossible to beat.. Short of helicoptering money to the masses .. Only way they can really do it is just hand people checks for nothing (and hope they spend it vs pay down debt)
Japan has proved this and then rest of the western world now going down that path..
only real solution is open up borders to bring in youngins that will make lotsa youngins.. Well the ones that'll actually bother to work and spend .. Vs be a welfare whore or hate America person.. Good luck screening for that in this day and age lol
fiat based Ponzi schemes are great!!!
Yellen/fed writers behind the scene had no choice just had to take positive tone everything ok rates will be rising eventually as we gain positive momentum..
theyll look like complete fools when bubble blows up and they stuck at zero and have to qe more.. but like I said what othe choice do they have??
theyll look like complete fools when bubble blows up and they stuck at zero and have to qe more.. but like I said what othe choice do they have??
In simple terms..Fiat Ponzi scheme economies need more and more suckers to play along to keep it going.. Only growth engine is via population growth and a populace that also buys into it..,
problem now is many suckers are waking up to the reality of the rigged game and also the suckers are creating less suckers to play along..
problem now is many suckers are waking up to the reality of the rigged game and also the suckers are creating less suckers to play along..
The elite are trying to generate inflation in a period of stagnant wages and falling (half decent) employment so the system can squeeze more out of the middle and it's simply not going to happen, there is an increasing level of resistance as people batten down the hatches
So now interest rates are pushed to zero as another way to try and get people to spend their cash savings
If they REALLY wanted inflation they would simply pay people more wages, but they don't actually "want inflation", they want your wealth, the core wealth of the middle classes, and it's becoming increasingly difficult for the system to acquire decent quantities of this wealth
Generating inflation is the easiest thing in the world but nicking peoples wealth is harder
All this "inflation stimulus" stuff is bait and switch propaganda
So now interest rates are pushed to zero as another way to try and get people to spend their cash savings
If they REALLY wanted inflation they would simply pay people more wages, but they don't actually "want inflation", they want your wealth, the core wealth of the middle classes, and it's becoming increasingly difficult for the system to acquire decent quantities of this wealth
Generating inflation is the easiest thing in the world but nicking peoples wealth is harder
All this "inflation stimulus" stuff is bait and switch propaganda
in west some of that more at play ..
But japan which you referenced is almost solely population based.. Population not growing and growing older... That's deflationary by nature and nearly impossible to overcome... As proven by last 20+ years.. With attempts to fight it continously..
Again short of just handing people money for nothing...
But japan which you referenced is almost solely population based.. Population not growing and growing older... That's deflationary by nature and nearly impossible to overcome... As proven by last 20+ years.. With attempts to fight it continously..
Again short of just handing people money for nothing...
How America’s top corporations are stealing $376bn (and counting) from their workers
Only 30 companies in the S&P 500 were fully funded as of year end 2015, with almost half of the overfunded companies coming from the financial sector.
Legacy companies like General Electric, General Motors and Boeing lead the table in underfunding almost 700,000 current employees, partly because they have to pay for the golden retirement plans for their executives such as Jack Welch.
Desperate for fund yields, South Carolina and Hawaii have turned to the risky business of selling puts, a tactic eerily reminiscent of those used in the run-up to the financial crisis.
“There comes a point where you might be picking up pennies in front of a steamroller,” Nathan Faber, vice president of investment strategies at Newfound Research, warned in the WSJ.
If pension underfunding continues in the same alarming direction, funds will need to be found eventually, whether through bailout or massive benefit cuts, both likely to be at the cost of the taxpayer.
https://www.rt.com/usa/357407-corporations-stealing-worker-pensions/
Only 30 companies in the S&P 500 were fully funded as of year end 2015, with almost half of the overfunded companies coming from the financial sector.
Legacy companies like General Electric, General Motors and Boeing lead the table in underfunding almost 700,000 current employees, partly because they have to pay for the golden retirement plans for their executives such as Jack Welch.
Desperate for fund yields, South Carolina and Hawaii have turned to the risky business of selling puts, a tactic eerily reminiscent of those used in the run-up to the financial crisis.
“There comes a point where you might be picking up pennies in front of a steamroller,” Nathan Faber, vice president of investment strategies at Newfound Research, warned in the WSJ.
If pension underfunding continues in the same alarming direction, funds will need to be found eventually, whether through bailout or massive benefit cuts, both likely to be at the cost of the taxpayer.
https://www.rt.com/usa/357407-corporations-stealing-worker-pensions/
