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NoQuarter Radio’s Sense on Cents with Larry Doyle Tonight at 8PM

Posted by Larry Doyle on May 3, 2009 7:38 AM |

UPDATE: The show has concluded, but you can listen to a recording of it in its entirety by clicking the Play button on the audio player below. Once the playback has started, you can fast forward or rewind to any portion of the show by clicking at any point along the play bar. Topics this evening included: the Chrysler bankruptcy situation, Bank Stress Tests, and Auction Rate Securities.

  

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Please join me Sunday evening from 8-9 p.m. ET for NoQuarter Radio’s Sense on Cents with Larry Doyle. The developments in the markets, economy, global finance, Wall Street, and Washington are occurring at breakneck speed. I will try to slow things down a bit and provide a sense of perspective. What did we learn in the markets over the last week and what does that mean for the weeks and months ahead? We will address a wide range of issues, including: the auto industry, government bond market, and economic statistics.

These are truly historic times in the global economy. Let’s “navigate the economic landscape” without the pandering or nonsense found elsewhere! What is on your mind? What would you like to address? Please share your questions and thoughts by calling in to (347) 677-0792, and also join our live chat room, which I’ll start up about 10 minutes before the show begins.

Many thanks to Larry Johnson and the rest of the team at NoQuarterUSA blog for providing such a vibrant vehicle as NoQuarter Radio. I look forward to having you join me Sunday evening as we collectively navigate the economic landscape!!

LD

  • lizzy

    Hi LD,
    I have a question for you. I receive a small pension through my union. I received a letter yesterday about funding levels of the fund. In 2008 they passed a law WRERA requiring notification of beneficiaries for the fund. There are three levels, green, yellow and red. Our fund was green last year but will be yellow this year. The green level will be frozen this year but they may have to take action next year. They gave some information about benefit payments guaranteed by the PBGC. I have to contayct the pension office about the details of the situation but I thought that there might be other people having similar experiences.

  • Lizzy,

    It sounds as if your pension like many others is experiencing a gap in assets vs liabilities, hence the shift in rating from green to yellow.

    Given that pension funds are invested across a wide array of assets (stocks, bonds, real estate, et al) and they almost all lost value in 2008 (with the exception of cash or U.S. government bonds) while their liabilities are fixed and increasing as our population ages, this phenomena is widespread and will only worsen.

    The PBGC (Pension Benefit Guaranty Corp) has a massive gap itself and it also has worsened. The PBGC is a federal entity that guarantees pensions. There is no way it could possibly meet all its obligations if it were forced.

    Can you say “bailout.”

  • lizzy

    Thanks for the background LD. We have been suffering from the problems that affect all pension funds in this type of economy but the situation is made worse by job losses to automation for the last ten years. Employer contributions have been shrinking.






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