Touchy are we? My point was that either through ignorance of economic realities or in order to defend a current agenda people have tended to confuse the economic health of the country in general with the health of the stock market. The fed had better pay attention to the macro economic realities rather than make decisions based on the health of the stock market. To rephrase and old saying: The business of America is business, not just the stock market.
I agree with your basic premise. However, don't, as the economically ignorant pundits and the defenders of Obamanomics do, confuse the stock market with the economy at large.
The two unconnected pension schemes, as well as the Elster pension plan, have combined liabilities of £882m and total deficits of £134m. Ralfe said that although the total deficits account for £134m, for Honeywell to shift that to a third-party pension specialist would cost £300m.
Jackmaster-- According to the Financial Times article, what was worth remarking about these pension liabilities is that they relate to companies even Elster no longer owned and were therefore not related to the assets purchased by HON. Doesn't seem any way around picking up these liabilities in the purchase, but HON seemed to want to gloss over them in their press releases.