Saturday, November 26, 2005

Blog Apnea

The Greek words "blog apnea" literally mean "without entries." Obstructive blog apnea (OBA) is caused by a blockage of the blog, usually when the blogger is concentrating his/her thoughts and efforts elsewhere. With each apnea event, the blogger turns his/her atention to other things , but consequently his/her blog may become stale, extremely fragmented and of poor quality.

After a lengthy apnea we are back on task with lots to catch up on. During this outage,

The forces conspiring to rid the planet of traditional defined benefit plans seemed to gain ground based on;
1) the accelerating pressue the airlines, automakers and other threatened industries are putting on the PBGC,
2) the proposed legislation and regulation designed to avoid further exercise of the "PBGC put"
3) the changes in pension accounting being considered by the FASB
4) the growing recognition that corporate pension underfunding may be rather modest compared to the financial status of state/municipal pension plans.

Social Security reform and any momemtum towards privatization have virtually disappeared as the country losses confidence in Bush 43.

Legislators are coming to grips with the reality that individuals are largely unprepared, undereducated and seemingly uninterested in managing their own retirement futures. The resolution will be to unleash "advice providers" on this market possibly making the cure more dangerous than the disease.


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