John Mauldin: How to Pay for Public Debt
451 views · Published 19 October 2017 · 9:31 · Indexed 24 October 2026
Channel: MoneyShow · 2017 · Education
At MoneyShow Dallas, John Mauldin: we have $120 trillion of unfunded liabilities in the US. The real problem is at the state and local level, that's four times their revenue. Most of those problems are pensions for police, fire, teachers and some government workers. They did what they were supposed to do. It's going to be one of the ugliest, most contentious of any fights that we're going to face. The nastiest fight is local politics. Maybe 70 percent of America is unprotected. The difference is: Can you deal with a crisis? When 50% of America doesn't have $400 for emergencies. My next book is The Age of Transformation. Diversify among trading strategies, not among asset classes.
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