Pensions are being cut all over Europe. The US stock market needs to fall by 87.5% to get to a PE Ratio of 5 where 3 of the 4 great bull markets have started(the other started at 7). So if the current under funding is $980 B what will it be when then market has finished correct not counting the 66% decline in bond value. Moody’s warns on $980bn pension gap If all 50 states had to make good on their pension shortfalls immediately, it would take up 66 cents of every dollar in revenue to fill the gap
Posted on: Thu, 27 Jun 2013 05:53:22 +0000
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