Posts Tagged ‘PERA Employer Contribution Rates’

Huge Battle Looms Over Public Pensions – Who Will (Who Should) Foot the Bill?

Huge Battle Looms Over Public Pensions – Who Will (Who Should) Foot the Bill?

Courtesy of Mish

Public pension plans are $1 to $3 trillion underfunded. I think the number is closer to $3 trillion and destined to get worse. However, even $1 trillion is a massive problem.

With so much at stake, a Battle Looms Over Huge Costs of Public Pensions

There’s a class war coming to the world of government pensions. The haves are retirees who were once state or municipal workers. Their seemingly guaranteed and ever-escalating monthly pension benefits are breaking budgets nationwide.

The have-nots are taxpayers who don’t have generous pensions. Their 401(k)s or individual retirement accounts have taken a real beating in recent years and are not guaranteed. And soon, many of those people will be paying higher taxes or getting fewer state services as their states put more money aside to cover those pension checks.

At stake is at least $1 trillion. That’s trillion, with a “t,” as in titanic and terrifying.

Given how wrong past pension projections were, who should pay to fill the 13-figure financing gap?

Consider what’s going on in Colorado — and what is likely to unfold in other states and municipalities around the country. Earlier this year, in an act of rare political courage, a bipartisan coalition of state legislators passed a pension overhaul bill. Among other things, the bill reduced the raise that people who are already retired get in their pension checks each year.

This sort of thing just isn’t done. States have asked current workers to contribute more, tweaked the formula for future hires or banned them from the pension plan altogether. But this was apparently the first time that state legislators had forced current retirees to share the pain.

The state’s case turns, in part, on whether it is an “actuarial necessity” for the Legislature to make a change. To Meredith Williams, executive director of the Public Employees’ Retirement Association, the state’s pension fund, the answer is pretty simple. “If something didn’t change, we would have run out of money in the foreseeable future,” he said. “So no one would have been paid anything.”

Meanwhile, Gary R. Justus, a former teacher who is one of the lead plaintiffs in the case against the state, asks taxpayers in Colorado and elsewhere to consider an ethical question: Why is the state so quick


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Zero Hedge

"Black People Don't Have To Be Democrats": Obama-Linked Rapper Backs Kanye As MSM Melts Down Over MAGA

Courtesy of ZeroHedge. View original post here.

Kanye West pal and fellow Chicago-based musician "Chance the Rapper" fired off a tweet in support of his controversial friend, who is once again taking flack from the left over his love of Donald Trump - and most recently, black conservative Candace Owens

"Black people don't have to be democrats," tweeted the 25-year-old Chance in defense of Kanye. 

Black people don’t have to be democrat...



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Phil's Favorites

The hypodermic effect: How propaganda manipulates our emotions

 

The hypodermic effect: How propaganda manipulates our emotions

Facebook CEO Mark Zuckerberg departs after testifying on Capitol Hill in Washington, D.C., in April 2018 about the use of Facebook data to target American voters in the 2016 presidential election and data privacy. (AP Photo/Andrew Harnik)

Courtesy of Isaac Nahon-Serfaty, University of Ottawa

The scandal surrounding the improper use of data by Cambridge Analytica and Facebook in the 2016 U.S. election is reminiscent of the old debates about propagand...



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Chart School

S&P To Test 200-day MA

Courtesy of Declan

After yesterday's selling today's late recovery was a chance for bulls to catch some breadth.

The S&P came close to tagging the 200-day MA on the intraday low. The index is on a path to the lower channel. There was no technical change and relative performance remains weak.
 


The Nasdaq stalled mid-decline. Today's doji did not appear at a natural support level and the 200-day MA still looks the better support test but aggressive longs may try fish for a position here with a stop on a loss of 6,926.
...



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Digital Currencies

Crypto Billionaire Sued By VC Giant Sequoia Over Collapsed Funding Deal

Courtesy of ZeroHedge. View original post here.

By Marie Huillet, CoinTelegraph.com

Venture capital firm Sequoia is suing Zhao Changpeng, the CEO and founder of Binance, currently the world’s largest cryptocurrency exchange by trade volume, for allege...



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Insider Scoop

Earnings Scheduled For April 25, 2018

Courtesy of Benzinga.

Companies Reporting Before The Bell
  • Thermo Fisher Scientific Inc. (NYSE: TMO) is projected to report quarterly earnings at $2.4 per share on revenue of $5.63 billion.
  • Ford Motor Company (NYSE: F) is expected to report quarterly earnings at $0.41 per share on revenue of $37.16 billion.
  • Twitter, Inc. ...


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Biotech

Why marijuana fans should not see approval for epilepsy drug as a win for weed

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Why marijuana fans should not see approval for epilepsy drug as a win for weed

Small vials of CBD, which some believe could be a cure for many ailments. Roxana Gonzalez/Shutterstock.com

Courtesy of Timothy Welty, Drake University

A Food and Drug Administration panel recommended approval of a drug made of cannabidiol on Ap...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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