[quote=temeculaguy]I am kinda/sorta saying that. Some other posters talked about scape goats, just don’t get distracted by shiny objects when in fact it doesn’t add up to what it is being portrayed as. When you get riled up, ask yourself “who benefits from my being riled up?” Sure, there are some examples to get riled up about and those things are being changed as we type. someone wants you to get riled up, maybe so you will ignore something else. Maybe it’s about some stupid election, who knows, who cares.
I gave up being riled up for lent and I’m not catholic, life is easier now, try it. I worry about sports, breasts, cars, you know, the important things.
See, feel better, SDSU will be playing UNM at the pit on wednesday, that is a whole lot more important than the life expectancey of government employees now isnt it.[/quote]
Don’t worry TG, I’m not riled up. I enjoy talking about it. I know I can’t really do anything about it personally, so I don’t take this too personal, other than taking it as an opportunity to learn more information. Now, coming back to the statement about it not adding up, what do you have to say about this statement from pri_dk’s link:
[quote=linky]Half-truth #2: “There is no crisis. Once the stock market recovers, there is no problem.”
Some of today’s pension Pollyannas claim that when stock-market trends return to their historical averages, everything works out. That is simply ignorance and puffery from people who don’t even bother to understand pension math. The actuarial projections used by most public pension plans are already assuming that 85-year historical returns will continue indefinitely, even though many of the major investment consultants have already dialed down their projections for the next decade. Perpetual stock-market increases of 10 percent annually are already baked into the funding ratios that now hover just above 70 percent on average nationwide. Even if stocks return next year to their previous peak levels (DJIA 14,100), that wouldn’t restore pre-recession funding ratios. That’s because there have been no capital gains from equities for the five intervening years while the underlying liabilities have grown about 50 percent. Stocks may have good and bad growing seasons, but there is never a crop failure on the liabilities farm. As I explained last year, stock indexes would have to double in the next two years to restore most pension funds to their 2007 funding ratios. To return the average pension fund to full funding, stock markets would have to produce 14 percent compounded returns the rest of this decade, with no intervening recession. That would put the Dow Industrials at 30,000 in January 2020. I’ll gladly give even odds against that scenario to anyone who wants to buy into that long-shot.[/quote]
