We spend a lot of time talking about the public pension crisis because, well, it's a massive $5 - $8 trillion dollar overhang on the economy and one which will undoubtedly result in some heartache for investors at some point in the future. Unfortunately, there are some problems that are too large for even U.S. taxpayers to fix and, with an underfunding of $52,000 (mid-point) per household, somehow we suspect this is one of them.
Authored by Mike Krieger via Liberty Blitzkrieg blog,
Authored by Lance Roberts of Real Investment Advice,
Just recently, Bloomberg ran a fascinating article discussing a new study from the McKinsey Institute.
“American manufacturing could be poised to rebound as technological disruption shakes up global production chains, but that will offer little relief to displaced factory workers, according to new research by the McKinsey Global Institute.
Another day, another CBO score for another version of the GOP's healthcare bill. This time, the agency estimates that McConnell's "Better Care Reconciliation Act" legislation would lower the federal budget deficit by $420 billion over the next 10 years by reducing spending for Medicaid and subsidies for nongroup health insurance.
Authored by Mike Shedlock via MishTalk.com,
The Unemployment Rate in Greece is down to 21.7% in April from a record 27.9% in July of 2013 and a record low of 7.3% in May of 2008.
Despite the falling rate, the percentage of those unemployed seeking jobs abroad has risen from 11% in 2015 to 33% this year.
The message seems to be “get me the hell out of here”.
The Greek Reporter notes Brain Drain Gathers Pace as One in Three Greeks Looks for a Job Abroad.