The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: ggersh who wrote (19318)	3/30/2009 10:04:08 PM
From: RockyBalboa	Read Replies (1) of 71456

Oh that sounds as if the next crisis is to be made public - this time a pension fund crisis, yeah. Well that possibly explains why the market has held up for so long until late August 2008 - S&P at 1300 when all signals were definitely flashing amber. The agency would only say that its fund was down 6.5 percent - and all of its stock-related investments were down 23 percent - as of last Sept. 30, the end of its fiscal year. But that was before most of the recent stock market decline ... No statistics on the fund's subsequent performance were released. "The truth is, this could be huge," said Zvi Bodie, a Boston University finance professor who in 2002 advised the agency to rely almost entirely on bonds. "This has the potential to be another several hundred billion dollars. If the auto companies go under, they have huge unfunded liabilities" in pension plans that would be passed on to the agency.

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