I just received my annual TCP-1 letter from LLNS and a summary of the LLNS Pension Plan. Looked in pretty good shape in 2013. About 35% overfunded (funding target attainment percentage = 134.92%). This was a decrease from 2012 where it was 51% overfunded (funding target attainment percentage = 151.59%). They did note that the 2012 change in the law on how liabilities are calculated using interest rates improved the plan's position. Without the change the funding target attainment percentages would have been 118% (2012) and 105% (2013). 2013 assets = $2,057,866,902 2013 liabilities = $1,525,162,784 vs 2012 assets = $1,844,924,947 2012 liabilities = $1,217,043,150 It was also noted that a slightly different calculation method ("fair market value") designed to show a clearer picture of the plan' status as December 31, 2013 had; Assets = $2,403,098,433 Liabilities = $2,068,984,256 Funding ratio = 116.15% Its a closed plan with 3,781 participants. Of that number, 3,151 wer...
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The wealthy and educated in Greece voted yes, but the commoners voted no.
The stupid win and Greece is now done.
Greece can't leave the Euro, but voted no to austerity. I get something for nothing. That's communism.
If Greece leaves the Euro, then they are really screwed, and their financial system will be in chaos. Greeks and Mediterraneans aren't good at organizing anymore. See the wealthy/educated know something that the common leaches don't.
"The Greek Vote and the EU Miscalculation is republished
Greek loans from EU: $500 Billion dollars
Equivalent loan per person to US: $13 Trillion
Greek politicians can't say "no more" to population.
Thus, loaning money to Greece is bad investment.
Greece couldn't even get the capital to restart a new currency (can't go back to the old one because of outstanding debt)
Greece leaves Euro, will collapse into Chaos because of insecure financial system.
Greece needs Germans to tell them what to do, and beat them into sensibility with "Greek be Good" sticks.
Get Educated.
In the face of such obvious wisdom of human mob behavior, Madam Guillotine emerged.
Louis, his children, Marie, Holy Men, sinners and most of the members of the General Assembly, the 40000 man Swiss Guard, lost their earthly gamble and met their saviour and judgement. Ironically Marat and Robspierre, creators ofvthe calamity, were consumed.
Weakness in thus crisis ill served France for the next 100 years.
I wish for the good citizens of Greece better leadership and a better fate.
July 8, 2015 at 8:36 PM
The citizenry wants something for nothing, and the leaders will keep getting voted back in for pandering... kind of like Democrats who get jollies for handing out other people's money.
The problem is that it is really not other people's money. Most of this money is
made by exploitation and corruption. It is money stolen from the people. There are hard working people out there that earn their money just to have stolen by corporations, greedy banks, and corrupt politicians.
July 13, 2015 at 6:38 AM
You seem to be forgetting the 10's of billions borrowed and owed by Greece to the IMF, eurozone countries, and the European Central Bank. THAT'S the "other peoples' money."