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pensions are best provided by the markets, it's just true.

(and if your pensions is shrinking right now, it's because you were too incompetent to invest properly, and deserve your fate)

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue Mar 31st, 2009 at 07:15:16 AM EST
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Hat tip naked capitalism

"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet

by Melanchthon on Tue Mar 31st, 2009 at 07:22:08 AM EST
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The statistical illiteracy of contraryinvestor.com is illustrated by their decision to plot a "average for the period" where there is a clear trend.

The proper way to plot these data is probably on a single chart with Marchetti Curves.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Tue Mar 31st, 2009 at 07:26:45 AM EST
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