Pension Funds Are Underwater – and Taking Us With Them
One of the world's largest public employee pension funds made promises it can no longer keep. Now it's expecting taxpayers to chip in.
One of the world's largest public employee pension funds made promises it can no longer keep. Now it's expecting taxpayers to chip in.
In 2016, we’ve seen gold flourish as a safe haven for investors fleeing stock market uncertainty, global debt and deflation and the anxiety-induced currency fluctuations kindled by Brexit. All told, the shiny metal has had an impressive run, up almost 25% through yesterday. But during its remarkable climb this year, gold’s record has been spectacularly outpaced by that of its...