Debtor Nation

Public Pension Plans: Boom and Bubble Forever Or Bust

State and city pension plans have been in a heap of trouble for years. What they need in order to be there in the future is a booming economy year after year and endlessly inflating asset bubbles. Otherwise, forget it. And even then, there’s a $1.1 trillion hole.

What the Heck is Going on With US Treasuries In Belgium?

The tiny country of Belgium with a GDP of $484 billion, a country that became famous to the chagrin of some people because it did just fine for a couple of years without a national government – well, it’s growing an enormous mountain of US Treasuries.