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Good luck telling your state workers that they all need to take a pay cut (which is what lower pension returns really are) and/or your local citizens that they'

by em500 6y ago

Good luck telling your state workers that they all need to take a pay cut (which is what lower pension returns really are) and/or your local citizens that they'll face a tax hike (if you don't want the state workers to take the hit), because you read in the FT that "companies are addicted to debt", and that we have this hunch that all this debt will collapse at some unknown time in the future.

_qulr 6y ago
"because you read in the FT" is a not a fair response. The linked article is not breaking news, it's an analysis of a well known phenomenon. With great power comes great responsibility. If someone can't be honest, they have no place managing other people's money.