Buffett Warns of Pension Crisis for Decade

Subject: Buffett Warns of Pension Crisis for Decade Sun Mar 02, 2014 5:24 pm

Billionaire investor Warren Buffett warned on Saturday that the growing crisis in public pension plans will continue — with "a lot" of more bad news to come.

Buffett Warns of Pension Crisis for Decade GetFile

Buffett Warns of Pension Crisis for Decade GetFile

"Local and state financial problems are accelerating, in large part because public entities promised pensions they couldn't afford," Buffett, the chairman of Berkshire Hathaway Inc., said in a letter to shareholders. "Citizens and public officials typically under-appreciated the gigantic financial tapeworm that was born when promises were made that conflicted with a willingness to fund them.

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"Unfortunately, pension mathematics today remain a mystery to most Americans," Buffett said.

"During the next decade, you will read a lot of news – bad news – about public pension plans," he added. "I hope my memo is helpful to you in understanding the necessity for prompt remedial action where problems exist."

The predictions were tucked away on page 21 of Buffett's 24-page letter to shareholders. Berkshire Hathaway held its annual meeting on Saturday in Omaha, Neb., where his company is based.

http://www.newsmax.com/newswidget/warren-buffett-public-pension-crisis/2014/03/01/id/555499?promo_code=125C2-1&utm_source=125C2Washington_Times&utm_medium=nmwidget&utm_campaign=widgetphase1
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Buffett Warns of Pension Crisis for Decade PgkowJT

Buffett Warns of Pension Crisis for Decade PgkowJT

Subject: Re: Buffett Warns of Pension Crisis for Decade Sun Mar 02, 2014 8:01 pm

Quote :: ...because public entities promised pensions they couldn't afford...

I hope they all implode! So we can have anarchy! As millions of ex-public service parasites, cause chaos and blood in the streets...

And which is a good enough reason to whack them...
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Buffett Warns of Pension Crisis for Decade

Buffett Warns of Pension Crisis for Decade

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