A CNBC excerpt:
Detroit, you’re not alone. Across the nation, cities and states are watching Detroit’s largest-ever municipal bankruptcy filing with great trepidation. Years of underfunded retirement promises to public sector workers, which helped lay Detroit low, could plunge them into a similar and terrifying financial hole.
ZIRP pushes stocks up & pension promises to government workers brings ’em down?
Who knows the answer.
But bet on volatility. Bet on trends.