One of the countries I am involved with has been hit badly by the drop in the price of oil. Government revenue has been significantly reduced given that the government owns the oil companies. What effect has all this had on the nation?
It is my profound hope that the principles of fairness, balance and the common good which have become so popular with G20 leaders lately will inform today's summit in South Korea. Unfortunately, the signs are decidedly mixed.
The proposed reform involves rolling people's 401(k) savings into directed distribution plans unless they elect not to participate. This probably sounds like a reasonable idea until you dig beneath the surface.