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Things keep getting worse for pensions… If you've read Notes recently, you know the pension fund crisis is one of our major themes. Simply put, these giant pools of capital responsible for paying out retirement benefits to workers are BROKE.

Article Image by Tyler Durdan

One week ago, when we first previewed this week's infamous $60 billion pension fund rebalancing out of equities and into bonds which resulted in historic market gyrations, and a violent snapback in the S&P from what was shaping up to be the worst Dec

Article Image, Tyler Durden

As we've been saying for a long time, America's dangerously underfunded defined-benefit corporate and public pensions are little more than lavish Ponzi schemes designed to swaddle one generation of retirees with lavish benefits (a fixed monthly incom