zerohedge.com / By Tyler Durden / 04/16/2013 23:09
It is no surprise that pension funds in the US are significantly underfunded (median 72% funded). California Public Employees’ Retirement System (CALPERS), specifically, is about 26% short of meeting its long-term commitments. Like most major pension funds, it uses smoke-and-mirrors to avoid this yawning gap by smoothing over a long enough timeframe where ’hope’ for growth in assets triumphs over the reality of liabilities (through a ‘rolling’ [...]
by John Moffett, Op Ed News:
In a conference call with key supporters Tuesday night, President Obama urged Democratic activists to stay engaged in the coming budget negotiations concerning the so-called “fiscal cliff” but also telegraphed plainly his intent to give away much in his showdown with Republican lawmakers
As the Huffington Post, who listened in on the call,reports:
The president, speaking from a White House phone, cautioned listeners to expect disappointments during his second [...]
Ladies looking to keep cool this summer might want to invest in the latest piece of lingerie – an ice pack bra.
Triumph’s new Super Cool Bra, unveiled in Tokyo, comes complete with gel pads which should be placed in the freezer for up to two hours before inserting into the cup area.
The bizarre piece of underwear, which comes in two different colours, is also adorned with a sprig of mint and miniature wind [...]
Her Majesty’s Ship Challenger set sail in 1872. Stripped of her guns and outfitted for science, her mission was to sail around the globe sampling as she went.
Among other scientific triumphs, the Challenger gathered the first global set of ocean temperature readings, more than 260 in all. The British expedition measured from the surface to a depth beyond 900 meters.
In 2004, a set of drifting buoys began to make similar [...]
Been cogitating, and am beginning to conclude that markets did –after an initial misapprehension — react properly to raising the debt ceiling and the Greek bailout. What do both events promise, nay, guarantee? Much more inflation. What will inflation do to stocks? Wreck them. What will inflation do to silver and gold? Drive them wild.
I reckon logic sometimes triumphs, even if it takes a few [...]