Link:https://marypatcampbell.substack.com/p/original-sin-or-pandoras-box-and?justPublished=true
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Excerpt:
The kinds of messages that are welcomed are “innovative” in terms of telling you that you don’t have to do the thing you really don’t want to do (put more money into the pensions, promise less, cut back on many things, tax more, etc.)
Yes! You don’t have to fully-fund pensions!
Absolutely, pension obligation bonds will allow you to do really real arbitrage! Don’t worry about the extra leverage!
For sure, you should be chasing the waterfalls of alternative asset classes! You can get those high returns and not worry about extra risk! Otherwise, you’d have to decrease your discount rate!
Author(s): Mary Pat Campbell
Publication Date: 29 Jan 2022
Publication Site: STUMP at substack