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underfunded pension funds
just a very fundamental problem for the US economy. there are 4 or 5 pension funds that are in big trouble, the teamsters, the teachers, the bakers and automobile workers. there are others that aren't as bad but in some trouble. at best case these union members are going to have to take a haircut with their benefits.
this is not great news for the economy because what has kept these funds afloat has been rising equity markets. if these funds fall on hard times there will be less money flipping around in the economy. that is also going to mean that some of the numbers that people use for projected earnings will be out of whack.
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