4.2 • 680 Ratings
🗓️ 14 May 2020
⏱️ 7 minutes
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0:00.0 | Rated T for Teen. |
0:01.7 | Each year, thousands of adults lose their shred. |
0:05.1 | It's an epidemic simply known as shred loss, but it doesn't have to be this way. |
0:09.2 | Because rekindling your shred is as easy as playing the new Tony Hawk's Pro Skater 3 and 4. |
0:13.7 | With new parks, cross-platform multiplayer, and sick new game modes, |
0:18.9 | we can put an end to shred loss everywhere. |
0:22.2 | Hit the new Tony Hawk's Pro Skater 3 and 4 and show the world that the shred's not dead. |
0:26.4 | Pre-order Tony Hawk's Pro Skater 3 and 4 and play the foundry demo. |
0:34.9 | Reality Radio for a really great future. |
0:37.9 | We're talking real money. |
0:40.8 | Hi, this is Tom Cock. |
0:42.9 | I read with some interest this week that public pension losses in the first quarter were worse than 2008 losses, which is a bit shocking because while the market has gone down |
0:57.3 | substantially this year, nothing at all like the losses we suffered in 2008, 2009. |
1:04.7 | According to the Wall Street Journal, public pension plans lost a median, kind of in the middle |
1:09.9 | there, 13.2% in the three months ending March 31st. |
1:15.2 | Now, obviously, things have recovered, right, because stocks had a pretty good April. |
1:22.4 | But overall, we're still facing some pretty significant losses, and here's the numbers I think really need to pay attention to. |
1:30.8 | Even before all of this, public pension plans were $4 trillion short of the about $9 trillion they'll need to cover promised benefits. |
1:43.1 | Let me say that again. |
1:45.8 | Four trillion short on a $9 trillion, they'll need to cover promised benefits. Let me say that again. Four trillion short on a $9 trillion benefit package. And a lot of reasons why, right? Big promises, |
1:55.7 | optimistic returns, insufficient contributions, et cetera. By the way, the returns targeted by the folks that |
2:06.2 | run pensions, 7% a year. So how about a little work on how they've actually done on that 7% a |
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