Promises, Public Union Pensions, Bankruptcy

Mish's Global Economic Trend Analysis: Promises, Promises; Public Union Pensions NOT Sacrosanct; Mish Template for Fair Public Union Pension Settlement: "If unions don’t negotiate pensions, bankruptcy will result, and unions will then have only themselves to blame. Hopefully, a few across-the-board pension cuts exceeding 50% or more, especially in Detroit, will get unions to see the light." (read more at link above)

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