Title : The Pension Melt-Down Could be Horrific!
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The Pension Melt-Down Could be Horrific!
Many teachers' and public employees pensions are heavily invested in foreign companies. Ironically, many of those same pensions refuse to invest in American companies that don't meet their exacting standards for 'PC' Socially Responsible Investing.Which, if part of my income didn't depend on a teachers' pension plan (actually 2 different plans with 3 income streams - mine and my husband's), might be amusing.
China is, after our tariff imposition, hurting. Not sure if they are hurting bad enough to cause a crash of their markets/companies, but - definitely hurting.
While American investors may unwittingly have their money tied up in Chinese companies, American regulators aren’t allowed to look at their books; Beijing regards them as “state secrets.” U.S. Senator Marco Rubio (R-Fla.) has introduced legislation to delist companies from American exchanges that fail to meet our accounting and disclosure requirements.For this action, and a few others, Rubio should be praised. He's made some good moves while Senator, and seems to have a real future with Conservatives.
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