Which is the bigger story: That an independent study just discovered California’s public pension systems are short half a trillion dollars…or that no one cares? A study commissioned by Arnold Schwarzenegger announced yesterday that just the three largest CA pension funds, which will “benefit” over 2.6 million public employees, are underfunded by $425 billion. CalPERS, the [...] California Pension Plans are in Big Trouble originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day." Check out our new special report Invest in Agriculture