[arete]

Ping to the (un)usual suspects.

Richard W.

[meenie]

Defaulting on pension plans signals a default in the future on the biggest plan of all, social security. It was always maintained that the printing presses would crank out enough dollars to pay social security payments. When push comes to shove, however, default in order to save the overall economy will win. It will probably be futile in an effort to save the economy, but the politicians will use it as a last resort.