Mikeoxenormous
Diamond Member
U.S. Pension Fund Collapse Isn't a Distant Prospect. It Could Come in 5 Years.
Why Apple Is Borrowing $6.5 Billion And What Obama's Trying To Do About It
Stocks slide as Apple drops 2%, rates rise
If you want to rely on others to take care of you, you are going to be disappointed. Rely on yourself to take care of yourself, and you too, will not be losing your shirt when Pensions go "tits up"..
2nd on the list is what is going on with Appl (Apple Inc.).What's in doubt is whether states will pay promised benefits to retirees with large pensions or significant outside income or assets. Also, although most of the problem is created by politicians and union leaders cutting deals to promise future unfunded benefits to keep voters happy.
Why Apple Is Borrowing $6.5 Billion And What Obama's Trying To Do About It
When you borrow money at zero percent interest and make a two percent return on dividends, that is still a profit for the shareholders...Now with interest rates over two percent Appl must dump their shares quick or start losing profit.(Liberal Elites love obscene profits even if it costs the US taxpayers billions).Apple has previously used the proceeds of bond sales to fund share buybacks and appease investors such as the activist Carl Icahn who want to see it return more of its vast wealth to them. It borrowed $17bn in 2013 and sold €2.8bn (£2.1bn) in bonds on the European markets in November last year.
Apple was initially looking to raise $5bn in its new Wall Street bond sale, but boosted this to $6.5bn, Bloomberg reported, citing an anonymous source.
Stocks slide as Apple drops 2%, rates rise
The announcement weighed on the entire technology sector. Shares of Apple fell nearly 2 percent, while Nvidia, Micron and Advanced Micro Devices all fell at least 1 percent.
Wall Street also kept an eye on rising interest rates, as the 10-year Treasury note yield broke above 2.9 percent.
If you want to rely on others to take care of you, you are going to be disappointed. Rely on yourself to take care of yourself, and you too, will not be losing your shirt when Pensions go "tits up"..