As Illinois seeks to fill the massive holes in the state's various pension funds — despite years of a booming stock market — the state has devised a crazy plan to sell over $100 billion in bonds and then use the proceeds to gamble in the stock markets to make up the shortfall in the guaranteed pensions. Mish Shedlock says this is a crazy idea to do at a stock market all-time high and that perhaps less crazy would be to gamble on the VIX or, Max suggests, why not buy lottery tickets? They next discuss the significance of the personal savings rate hitting a ten year low and whether or not tax cuts will deliver all the jobs that Trump and corporations claim they will. Tune in to hear Mish's full analysis with Double Down.
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