I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Thu Jul 20, 2006 11:46 am Post subject: Pie in the Sky Pension Plan Legislation Near
WASHINGTON - A pension system overhaul bill that Congress is on the verge of completing will close loopholes that have allowed employers to underfund their pension plans while protecting taxpayers from a multibillion-dollar bailout, House Majority Leader John Boehner said Thursday.
[...]
Boehner stressed that the final product will strengthen the current system, under which employer-based defined benefit pension plans are underfunded by an estimated $450 billion and the Pension Benefit Guaranty Corp., the federal agency that insures these plans, is running a $22.8 billion deficit.
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