How Kentucky Tried to Make the Country’s Worst-Funded Public Pension Plan Even Worse


This post is by Yves Smith from naked capitalism


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Many public pension funds are in a very deep underfunding hole, and too many are resorting to high fee investment strategies that at this point in the cycle are costly hopium. Gordon Hamlin, a pro bono advier to public pensions, sets forth a strategy for the most deeply underfunded state pension, the Kentucky Retirement System.

Josh Hawley (R-MO) and How the Social Media Economy Addicts Users


This post is by Lambert Strether from naked capitalism


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“What’s that?” Laney asked, indicating the man on stilts.

“A sect,” Arleigh McCrae said. “‘New Logic.’ They say the world will end when the combined weight of all the human nervous tissue on the planet reaches a specific figure. … [As a musician,] Rez was interested in them, apparently. He tried to arrange an audience with the founder.”

“And?”

“The founder declined. He said that Rez made his living through the manipulation of human nervous tissue, and that that made him untouchable.” — William Gibson, Idoru

I’ve been looking for a way to write about gaming — I’m so old I associate “gaming” with a family-friendly Vegas rebranding of “gambling” — and just the other day I finally found an opening. Oddly, a Republican Senator, Josh Hawley, provided it in the form of the following YouTube video (recommended by Stoller). It’s only about fifteen Continue reading “Josh Hawley (R-MO) and How the Social Media Economy Addicts Users”