Easy to confuse me

Sometimes more than others media coverage really befuddles me.  I mentioned this a couple weeks ago, and now the Philly Inquirer has now looked into it a little.  But the changes in public pension accounting just enacted are at least metaphysically a big deal…  and if local actuaries don’t follow them, then that is a . . . → Read More: Easy to confuse me

Puttering on Pensions

This could be an uber long post,or it could be short and pithy.

But if you think all the pension issues in the city are… if not say ’solved’ but even if you would go so far as to say ’stable’ there is a new iceberg in the water.

There are about to be . . . → Read More: Puttering on Pensions

Models and Assumptions

Here’s a waste of analysis:

A much better alternative is for the household to “buy” an annuity from Social Security. They can make this “purchase” by using their savings to pay current expenses and delaying claiming to get a higher monthly benefit at an older age. The savings used is the “price” and the . . . → Read More: Models and Assumptions

Nobody's on nobody's side

So I learn from Early Returns that the City of Pittsburgh’s euphemism as oversight board, otherwise known as the Intergovernmental Cooperation Authority (ICA),  is still around. Who knew?

They seem to be looking at the city’s debt. I need to update my graphic below which is my calculation of the long term trend . . . → Read More: Nobody’s on nobody’s side

The End of the Debt Supercycle Draws Near: John Mauldin

Are developed nations across the globe at the precipice of oblivion? Yep, says pundit John Mauldin. Fresh after the announcement of a new joint venture with Casey Research and the conclusion of his own Strategic Investment Conference in Carlsbad, Mauldin spoke to The Gold Report. He believes that investors have a small window . . . → Read More: The End of the Debt Supercycle Draws Near: John Mauldin

The Variable Rate Bond that keeps on maturing

So…  I just don’t have it in me to go though the history of all of this.  But if you recall the miasmic variable rate bond the Pittsburgh Water and Sewer Authority had out there and thought maybe it was all resolved merely because it has not been in the news of late…  well…

. . . → Read More: The Variable Rate Bond that keeps on maturing

Emerging Gold Juniors and Explorers Should Recover in 2012: Jeff Berwick

Jeff Berwick, chief editor and founder of The Dollar Vigilante and avowed anarchist, holds precious metals for safety and holds their equities for profits. In this exclusive Gold Report interview, he counsels geopolitical diversity and paying close attention to precious metal stocks.

The Gold Report: Your newsletter, The Dollar Vigilante, is the closest . . . → Read More: Emerging Gold Juniors and Explorers Should Recover in 2012: Jeff Berwick

The Abstract and the Concrete

Vanity of vanities, all is vanity:

This chart basically shows that Republicans are really no different than the mainstream when it comes to specific spending cuts (which, incidentally, is why Rep. Ryan’s budget is a joke). Now, it is true that Republicans are more supportive of spending cuts in general. However, once you start . . . → Read More: The Abstract and the Concrete

Gold Far From Bubble Phase: Marc Faber

With more than 40 years as an economist to his credit and claiming gold as the “biggest position in my life,” Gloom Boom & Doom Report Publisher Marc Faber assures us that gold is nowhere near a bubble phase, but cautions that corrections of 40% are not unusual in a bull market. At . . . → Read More: Gold Far From Bubble Phase: Marc Faber

Variant Perception: A Primer on the Euro Breakup

You may have already noticed that this one has been going the rounds. The piece is mainly driven by my colleague Jonathan Tepper’s work on the history of currency union breakups and how they work (or don’t).

It is a big piece in its entirety but the different sections can be read as standalone arguments. . . . → Read More: Variant Perception: A Primer on the Euro Breakup