according to the Panama Papers?

The Hoover Institution predicting that public employees will bankrupt us all? What an unexpected result.

Just for starters, Detroit didn't go bankrupt because of public pensions. Detroit went bankrupt because the auto industry moved out and the city lost the bulk of its tax base. Public pensions didn't bankrupt Detroit any more than any of the other obligations the city could no longer pay.

And don't forget to read to the end of the article where this is buried:

"However, Hank Kim, executive director at the National Conference on Public Employee Retirement Systems, a trade association for public pension plans in the US, called Mr Rauh’s study a “manipulation of arithmetic”.

(snip)

"Mr Kim added that public pension funds set their return targets at 7.5 per cent because that is what they have been able to achieve historically.

"US public pensions recorded an average annual return of 7.3 per cent in the 10 years to the end of June 2014, according to Cliffwater, an investment consultancy.

“Over a long-term trend, that 7.5 per cent return rate is absolutely feasible,” he said."

So the Hoover Institution doomsayer says there's big trouble, as long as you project returns of 2 to 3 percent, the US treasuries rate.

Except reality--and note we're talking a 7.3 percent average in a 10-year period that included the biggest financial meltdown since the Great Depression--says that it's Hoover Institute Man who's being unrealistic.

but the failure of states and other public entities actually to FUND the public pension funds in their jurisdictions will cause individuals and other dependent entities into bankruptcies, imo.

This was put out to use in the run up to the election as one more fake fact that can be cited. The M$M echo chamber will now repeat it even though there is no economic or legal basis for mentioning it as news. Scare lies like this one generate more hits and more viewers than the truth debunking it will.

It's part of the plan to strip mine the American economy, layer by layer...And the MSM never heard of that nor will they acknowledge it. Every time anyone begins to talk about it and the players behind it the interviewer switches subjects, or makes a cutting remark about CT economics. MSM pedals the lies that all this is just the economic pendulum swinging on its way as if there was some kind of natural order to it.

They are turning us into a banana republic as fast as they can. Cash is portable, culture can be bought, Justice is for those who can afford it as is medical care, or clean air and water.

Oh yeah, the one who dies with the most toys wins!