Compare And Contrast: Public Vs Private Retiree Underfunding In One Chart Submitted by Tyler Durden on 08/16/2013 12:05 -0400 The chart below explains, in the simplest possible terms, why there are many more "Detroits" on deck. It shows the underfunded status of public vs private retiree healthcare plans. It needs no commentary, although it may deserve one question: what happens when all those public servants who have been promised over a trillion in healthcare benefits upon retirement, realize it was all a lie? And then come... the pensions. Average: 4.875 Your rating: None Average: 4.9 ( 16 votes)
Germany's Virtuous Circle Takeover Of Europe Submitted by Tyler Durden on 04/26/2013 15:01 -0400 France Germany Recession Reuters German finance minister Schaeuble just explained, in a seeming effort to assuage rising fears that the one core nation left in Europe will choose the game-theoretically optimal first-defection wins strategy, that "Germany benefits from the Euro more than others." Indeed it does; as German firms are buying up strong competitors, clients or suppliers at a time when those companies are struggling to stay afloat through years of recession in their home markets and as shaky banks restrict access to credit. It appears that the slow-and-steady bloodless invasion of Europe can be summed up by the following virtuous circle of Germany's hidden strategy. Of course, as Schaeuble explained later in his missive, "it is nonsense" that Germany wants a German Europe and that the Euro exchange rates is "Okay" for Germany. As Reuters notes , ... Strong companies are attracting interest among the "Mittelstand" , medium-sized and often family-owned manufacturing firms to which Germany owes much of its exporting prowess. That is in large part due to the economic and labour market reforms bailout countries have been forced to implement - making it easier to hire and fire and reducing wage costs - which less stricken countries such as France have been slower to embrace. "For financially strong German Mittelstand firms, the crisis is turning out to be an opportunity . They are increasingly active with acquisitions in Spain," ... German firms are buying up strong competitors, clients or suppliers at a time when those companies are struggling to stay afloat through years of recession in their home markets and as shaky banks restrict access to credit. ... What makes southern Europe alluring is the benefits from tough austerity measures and reforms that euro zone policymakers, led by Germany, have pushed for in return for financial bailouts. ... "The reforms Germany is pushing for there will massively strengthen these countries' competitiveness compared to Germany. It's not a surprise German companies say Europe is interesting ." ... "More often than not the companies have known one another for a long time, and the southern European ones want to be bought. They are the ones taking the initiative because they need money. "
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