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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 496.02+0.3%4:00 PM EST
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To: Elroy Jetson who wrote (30225)3/1/2008 3:26:59 PM
From: elmatador  Read Replies (1) of 219873
 
Mr. Buffett also had harsh words for state and local governments. “Public pension promises are huge and, in many cases, funding is woefully inadequate. Because the fuse on this time bomb is long, politicians flinch from inflicting tax pain, given that problems will only become apparent long after these officials have departed. Promises involving very early retirement — sometimes to those in their low 40s — and generous cost-of-living adjustments are easy for these officials to make. In a world where people are living longer and inflation is certain, those promises will be anything but easy to keep.”

I want to see what the solution will be:

Higher taxes
Wielding el machet
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