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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (10066)8/2/2004 12:37:48 PM
From: Perspective  Read Replies (2) of 116555
 
It's been obvious for some time now that Greenspan's policies favor debtors over savers - hosing the responsible parties by diminishing the purchasing power of their savings with negative interest rates. While I considered myself and most of the retirees in that group, I never really considered the fact that defined-benefit pension plans are also in that group.

As long as negative real interest rates continue, pension plans - and the companies with large exposures to them - will be defrauded, whether or not they are run responsibly. Those that are run poorly will suffer doubly.

BC
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