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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: I_C_Deadpeople who wrote (5245)4/29/2004 1:26:35 PM
From: Jim Willie CB  Read Replies (1) of 116555
 
CNN interviewed some people from Allentown PA last night
some typical cross sectionals
very representative city
same ratio of old, young, Dem, GOP, retired, worker

some guy worked over 20 yrs at Bethlehem Steel
they shut down a few years ago
took down his entire pension
gone kaput nada
it aint fair
it seems to me that pension fund was a separate entity
so why should it go down?
because bankruptcy law allows creditors to seize it
poor law

/ jim
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