Theft from the future — there needs to be a name for this activity, because it’s what’s taking the world down.

These pension funds will never get fixed. If no one was willing to fix them in the last 40 years, why would they fix them now?

The current bull market will have convinced fund managers that owning stocks is fine. But when COVID doesn’t go away magically overnight, the bear market will start again and this time, not stop.