The "discount rate" is a myth. The garbage assumption that ANY "discount rate" can be validly used just turns all the models into garbage.
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As companies do with their unfunded pension liabilities!
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zactly
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You can turn anything into "magical thinking" by "adjusting" the assumptions used in the model. What are you actually saying in your tweet?
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Some outputs are more elastic than others
End of conversation
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I lean toward monetarism. The less you try to micromanage, the less man-made mess to clean up.
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Chicken Little meets Sir John Maynard Keynes.
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Whatever you like as long as you're using your own money. You've just made a very good argument why governments shouldn't be investing.
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Which is why insurance companies and pensions should be run as private enterprises, whose owners are ultimately at risk for mistakes.
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Not necessarily... Pensions for those people could be private, they could even have a choice of plans. Not including govt plans.
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