Wirepoints’ warnings about Illinois police pension funds
If you were deep in debt, but didn’t want to cut back on your “quality of life,” would the following set your financial house in order?
Don’t cut back on the spending on your cars, cell phones, new furniture, entertainment and all the rest. Instead, go to the bank to borrow money and invest in stocks. Use the money you make to pay off your debts and continue your high living.
Ted Dabrowski and John Klingner of Wirepoints explain that this is what the pension funds are doing–something that’s infected with all kinds of risks.