@cobie The assumed rate of return of 7% (from when treasuries paid that) on most pension funds vs the actual return of treasuries over the past 20 years as created a compounding liability that is off the book
@cobie Using assumed rates of return on the assets. the pension liability is considered funded as long as the expected return of the assets would theoretically cover the liability. Problem is none of these budgets were adjusted post 2008 when we dropped interest rates to 0%.
Incredible results for both artists.
It's especially wild for @lphaCentauriKid because the auction was only for "fine art" -- there wasn't even an NFT!
@lphaCentauriKid @L4ft0vers I stared at the selection too long trying to figure out which one I liked best and the anxiety of the unknown consequences began to take over.
In the end, there was no decision for me to make.
Huge shouts out to @L4ft0vers for the @lphaCentauriKid max pain v2. He knew I was bummed when I missed the mint and so when he won his second in a give away he didnโt hesitate to send to me.