Scary letter about public pensions from Warren Buffett from 30 years ago

This was a very enlightening article from Michael Moritz and he refers to the looming problem of pensions.

  And he points out Warren Buffet's warning which walks through some the pitfalls around pensions in this 1983 typewritten letter which he put into the 2013 Berkshire Hathaway report -  on page 118 to 136.

via Linked In - Michael Moritz (link)