Bill Black's Address To #OccupyLA

(Wikipedia) William Kurt Black (born 6 September 1951) is an American lawyer, academic, author, and a former bank regulator.[1] Black's expertise is in white-collar crime, public finance, regulation, and other topics in law and economics. He developed the concept of "control fraud", in which a business or national executive uses the entity he or she controls as ...See More

Occupy LA Teach In William K Black

www.youtube.com

Full speech, high quality

· · Share · Yesterday at 7:36am ·

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    Benjamin Garrett ‎... a MUST SEE, in my view...

    Yesterday at 7:50am ·

Next In Line for Implosion: Pension Plans

'... While everyone is focused on the drunk being pulled from the pool--Europe's sovereign debt--another drunk is teetering on the edge: public and private pension plans. Here's the reality in a nutshell: pension plans only work if they earn average returns of around 8% per year, basically forever.

Gripped by the mono-maniacal desperation of an addict who sees no other path but another hit, central banks have lowered interest rates to near-zero to "spark growth." Unfortunately the only thing being goosed is the future cost of servicing the additional debt.

How do you earn 8% on money which yields at best 3%? You can't. How do you reap a gain on bonds when interest rates have already hit bottom and can't fall any lower? You can't...'

http://www.oftwominds.com/blognov11/pension-implosion11-11.html