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Pension funds, meet the “super bubble”

JANUARY 7, 2019 | by Ed Ring | CALIFORNIA POLICY CENTER

"Earlier this month, outgoing California Governor Jerry Brown predicted 'fiscal oblivion' if California’s state and local agencies are not granted more flexibility to modify pension benefits. … At best, we may hope for stocks to merely stop going up, which is sort of what happened after the internet bubble popped. But what’s different this time? One key difference is that this time, lowering interest rates is not an option.”

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