Articles
Tokenization Of Real-World Assets: A Market Taking Shape
Managing the profound change demands harnessing advantages, mitigating risks, and creating careful legislation.
October 21, 2026
Published: October 12, 2017
Stocks and bonds used to have high rates of return, but those times are gone. Bond yields are much lower than they used to be and achieving high returns requires taking on more risk. When shortfalls happen, taxpayers are on the hook.
Be sure to read “Hidden Debt, Hidden Deficits: 2017 Edition,” in which Joshua D. Rauh details the issues surrounding the pension system and the role of governments in increasing liabilities and deficits by means of their pension system.
Discussion Questions
- Why have pension funds had to rebalance their portfolios in order to achieve higher returns?
- What would it take for bond yields to return to their historical performance?
- If state politicians have to resort to raising taxes and cutting services to balance their budgets, why endanger their pension system by underfunding it in the first place?
Related
Videos
Why Lower Inflation Isn't Enough For Affordability
The Fed, inflation, and the economic case for long-term price stability.
October 20, 2026
Articles
United CEO’s Wealth Tax Would Hit His Own Shareholders
Scott Kirby wants a national wealth tax and inheritance taxes near 100%. Among those who would pay are the investors he ultimately works for.
October 20, 2026