{"id":14355,"date":"2013-09-04T10:58:20","date_gmt":"2013-09-04T14:58:20","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=14355"},"modified":"2013-09-04T10:58:20","modified_gmt":"2013-09-04T14:58:20","slug":"heres-buffetts-billion-dollar-advice-to-the-washington-post","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2013\/09\/04\/heres-buffetts-billion-dollar-advice-to-the-washington-post\/","title":{"rendered":"Here\u2019s Buffett\u2019s Billion-Dollar Advice to the Washington Post"},"content":{"rendered":"<p><em>The Wall Street Cheat Sheet<\/em> has the article <a title=\"The Wall Street Cheat Sheet article\" href=\"http:\/\/wallstcheatsheet.com\/stocks\/heres-buffetts-billion-dollar-advice-to-the-washington-post.html\/?a=viewall\" target=\"_blank\"><strong>Here\u2019s Buffett\u2019s Billion-Dollar Advice to the Washington Post<\/strong><\/a>.\u00a0 There is a lot more in the article that is worth reading to understand Warren&#8217;s advice, but here is a fact we all ought to consider.<\/p>\n<blockquote><p>Writing Graham in 1975, Buffett began by saying that, \u201cThere are two aspects of the pension cost problem upon which management can have significant impact: 1. maintaining rational control over pension plan promises to employees and 2. increasing investment returns on pension plan assets.\u201d While this may seem intuitive to some, it has become clear that both the private and public sector are bad at managing pensions. Very, very bad.<\/p><\/blockquote>\n<p>Both private pension plans and Social Security ought to take note of what Buffet is saying.<\/p>\n<p>Since at least 2005, I have been pushing for reforms that would heed Warren Buffet&#8217;s advice.<\/p>\n<p>See previous posts <a title=\"Previous Post\" href=\"http:\/\/ssgreenberg.name\/PoliticsBlog\/2010\/03\/17\/social-insecurity-investment-rules-need-rethinking\/\" target=\"_blank\"><strong>Social Insecurity \u2013 Investment Rules Need Rethinking<\/strong><\/a>, <a title=\"Previous Post\" href=\"http:\/\/ssgreenberg.name\/PoliticsBlog\/2010\/03\/17\/authors-response-to-social-insecurity-investment-rules-need-rethinking\/\" target=\"_blank\"><strong>Author\u2019s Response to Social Insecurity \u2013 Investment Rules Need Rethinking<\/strong><\/a>, and <a title=\"Previous Post\" href=\"http:\/\/ssgreenberg.name\/PoliticsBlog\/2011\/09\/12\/why-a-pay-as-you-go-system-social-security-is-not-like-a-ponzi-scheme\/\" target=\"_blank\"><strong>Why a Pay-As-You-Go System (Social Security) is not like a Ponzi scheme<\/strong><\/a>.<\/p>\n<p>Even <a title=\"Old politics page on Social Security\" href=\"http:\/\/www.ssgreenberg.name\/Politics\/#SocialSecurity\" target=\"_blank\"><strong>before I started this blog<\/strong><\/a> in its current form, I was promoting this solution.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Wall Street Cheat Sheet has the article Here\u2019s Buffett\u2019s Billion-Dollar Advice to the Washington Post.\u00a0 There is a lot more in the article that is worth reading to understand Warren&#8217;s advice, but here is a fact we all ought to consider. Writing Graham in 1975, Buffett began by saying that, \u201cThere are two aspects [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-14355","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/14355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=14355"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/14355\/revisions"}],"predecessor-version":[{"id":14356,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/14355\/revisions\/14356"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=14355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=14355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=14355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}