The British government is looking for a way to jumpstart its stagnant economy. The plan is to use pension funds to invest in big construction projects to the tune of $46.5 billion
This is just the beginning, coming to a theatre near you.
The linc on the reaming...
Sounds like they are mobbed up.
Governments shouldn't be allowed to mess with pensions that are created with involuntary funding. The whole of idea of fucking of the present then fucking with the money meant to feed people in the future is a little disturbing. What are they going to do, knock down a building to get the money back? Construction is a short-term employment proposition, they won't get the money back by forcing the new workers to involuntarily contribute part of their paychecks because of the short amount of time they will have guaranteed employment.
They don't even get to blame Obama or Bush.
(12-01-2011, 11:05 PM)Cracker Wrote: [ -> ]Sounds like they are mobbed up.
Governments shouldn't be allowed to mess with pensions that are created with involuntary funding.
Our Gov't does the same thing with Social Security. As of March 2011, somewhere around 18% of the National Debt is held by the Social Security Trust fund, and according to the SSA website, because they are now paying out more than they are taking in, the fund will be depleted by 2018.
What the SSA website doesn't say, is whether they will cash in on that 18%, or whether the 2018 date is affected by that 18%.