An interesting analysis of the obvious:
How public unions are driving another economic bubble…
In every case, the goal of these powerful pension funds—Wall Street’s biggest players—is to rack up another year of high returns. And to do this they need corporate profits, financial sector profits, rising home prices, rising utility rates—all of it fueled by debt accumulation.
It’s an unsustainable model. As America is slowly turned into a debtors’ prison, there will eventually be nobody left to pay the interest.
Source: We Need a Sequel to The Big Short to Critique Public Pensions