For a start, it is mainly pension funds, saddled with long-term liabilities, that are clamouring for more long gilts.
The major driver of our long-term liabilities, everybody here knows, is Medicare and Medicaid and our health care spending.
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Indeed, Sandy Springs has no long-term liabilities at all, since the whole point of a 401(k) defined-contribution scheme is to avoid them.
Long-term liabilities should be funded with long-term assets.
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Secondly, the Fed holds long-term assets and short-term liabilities and yield curves generally slope upwards.
So there are no long-term unfunded liabilities.
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They could afford to ignore the short-term risks because of the long-term nature of their liabilities.
One part ("the bad bank") will assume all the residential and commercial real-estate loans and securitized mortgages as assets, and all the long-term debt as liabilities.
Higher long-term interest rates would lower liabilities, because they would reduce the gap between pay-out rates and investment returns.
Skandia and Sphere Drake both have hefty long-term asbestos and environmental liabilities.
Because in the developed world, social overhead capital produces too many bridges to nowhere, too many non-jobs with long term unfinanced liabilities attached, bureaucracy and the regulation of everything that moves.
Entropic has no short-term or long-term debt on its books, but its accrued liabilities and payables have increased from 2009 to 2010.
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They also argue that a long-term mechanism for ensuring fiscal responsibility is needed, since government debt and unfunded pension liabilities are large.
With legacy countries in a state of long-term insolvency, and major banks highly leveraged and with opaque balance sheets sitting on trillions in liabilities, policymakers have resorted to one of the most dangerous solutions in the aftermath of the financial crisis: money printing.
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