Meredith Whitney Sees More Trouble for Housing

[Allan from Fallbrook]

[quote=ravinos]That’s a historically new, revisionist, American and Anglo, corporate unproven theory in the campaign against organized labor. They’ve replaced the Pinkerton thugs of earlier America with lobbyists and subsidized lackey “think-tanks “.
Many EU countries have significant labor/union organizations,(reaching up to even white collar jobs), well above US levels.
Their economic performance even in this crisis, is much better than ours, and their societies are strikingly absent of an underclass, so persistent in the US.
Germany,not only the most productive economy of the world, but the biggest exporter, (yeah, bigger that Wal-China), has very high levels of union membership and influence in a cross section of its industries with wages matching and even surpassing US incomes.
As for GM, their “union” factories are more like sweatshops compared to German counterparts. Just visit BMW’s Munich and Mercedes Stuttgart union plants,… I have.[/quote]

Ravinos: Talk about throwing out an argument that’s completely apples to oranges. Let’s forget about Germany and it’s manifold problems regarding underfunded pensions for a second(Ravinos, care to throw out how big the persistent overhang in German pensions is?), and focus on how German unions are organized and, even more importantly, how much influence they wield in the German political system. Far from being a clean, well-run system, Germany has significant issues confronting the country, not the least of which is the inability of its workforce to produce competitively.

As to this supposedly “new and revisionist” history, attached please find a link to a series of US Chamber of Commerce papers on the true “value” of unionization in America. Link: http://www.uschamber.com/publications/reports/unionrhetoric

Also, spare me the racism directed at my Anglo heritage, please. It doesn’t have a place on this forum.

[ravinos]

If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man !

[ravinos]

If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man !

[ravinos]

If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man !

[ravinos]

If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man !

[ravinos]

If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man !

[Allan from Fallbrook]

[quote=ravinos]If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man ![/quote]

Ravino: Given your ethnicity, I now stand even more fervently behind my racist comment. I’d be hard-pressed to imagine an empire quite as racist as the British Empire, which gave us “The White Man’s Burden” and nearly all of the problems we as Americans are presently confronting in the world, whether we’re talking about Afghanistan, Palestine, Pakistan and recently, the Balkans.

We also have the Brits to thank for complete ineptitude in the volatile mix of Labour policies and politics, intermixed with the disastrous decades of the 1960s and 1970s (remember the IMF bailing out England?). If this is the yardstick we’re trying to emulate, well, no thanks.

I’m German on both sides of my family, and quite familiar with “Perfidious Albion”. You might have noticed, but we Americans had to wage two separate wars to kick your confiscatory, monarchical and inbred asses out of North America.

“God save the Queen”? Really? I loathe everything she represents (Divine Right, anyone?) and boasting about 700 years of oppression isn’t something I’d crow about.

[Allan from Fallbrook]

[quote=ravinos]If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man ![/quote]

Ravino: Given your ethnicity, I now stand even more fervently behind my racist comment. I’d be hard-pressed to imagine an empire quite as racist as the British Empire, which gave us “The White Man’s Burden” and nearly all of the problems we as Americans are presently confronting in the world, whether we’re talking about Afghanistan, Palestine, Pakistan and recently, the Balkans.

We also have the Brits to thank for complete ineptitude in the volatile mix of Labour policies and politics, intermixed with the disastrous decades of the 1960s and 1970s (remember the IMF bailing out England?). If this is the yardstick we’re trying to emulate, well, no thanks.

I’m German on both sides of my family, and quite familiar with “Perfidious Albion”. You might have noticed, but we Americans had to wage two separate wars to kick your confiscatory, monarchical and inbred asses out of North America.

“God save the Queen”? Really? I loathe everything she represents (Divine Right, anyone?) and boasting about 700 years of oppression isn’t something I’d crow about.

[Allan from Fallbrook]

[quote=ravinos]If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man ![/quote]

Ravino: Given your ethnicity, I now stand even more fervently behind my racist comment. I’d be hard-pressed to imagine an empire quite as racist as the British Empire, which gave us “The White Man’s Burden” and nearly all of the problems we as Americans are presently confronting in the world, whether we’re talking about Afghanistan, Palestine, Pakistan and recently, the Balkans.

We also have the Brits to thank for complete ineptitude in the volatile mix of Labour policies and politics, intermixed with the disastrous decades of the 1960s and 1970s (remember the IMF bailing out England?). If this is the yardstick we’re trying to emulate, well, no thanks.

I’m German on both sides of my family, and quite familiar with “Perfidious Albion”. You might have noticed, but we Americans had to wage two separate wars to kick your confiscatory, monarchical and inbred asses out of North America.

“God save the Queen”? Really? I loathe everything she represents (Divine Right, anyone?) and boasting about 700 years of oppression isn’t something I’d crow about.

[Allan from Fallbrook]

[quote=ravinos]If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man ![/quote]

Ravino: Given your ethnicity, I now stand even more fervently behind my racist comment. I’d be hard-pressed to imagine an empire quite as racist as the British Empire, which gave us “The White Man’s Burden” and nearly all of the problems we as Americans are presently confronting in the world, whether we’re talking about Afghanistan, Palestine, Pakistan and recently, the Balkans.

We also have the Brits to thank for complete ineptitude in the volatile mix of Labour policies and politics, intermixed with the disastrous decades of the 1960s and 1970s (remember the IMF bailing out England?). If this is the yardstick we’re trying to emulate, well, no thanks.

I’m German on both sides of my family, and quite familiar with “Perfidious Albion”. You might have noticed, but we Americans had to wage two separate wars to kick your confiscatory, monarchical and inbred asses out of North America.

“God save the Queen”? Really? I loathe everything she represents (Divine Right, anyone?) and boasting about 700 years of oppression isn’t something I’d crow about.

[Allan from Fallbrook]

[quote=ravinos]If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.

God Save the Queen ! God Bless the Working Man ![/quote]

Ravino: Given your ethnicity, I now stand even more fervently behind my racist comment. I’d be hard-pressed to imagine an empire quite as racist as the British Empire, which gave us “The White Man’s Burden” and nearly all of the problems we as Americans are presently confronting in the world, whether we’re talking about Afghanistan, Palestine, Pakistan and recently, the Balkans.

We also have the Brits to thank for complete ineptitude in the volatile mix of Labour policies and politics, intermixed with the disastrous decades of the 1960s and 1970s (remember the IMF bailing out England?). If this is the yardstick we’re trying to emulate, well, no thanks.

I’m German on both sides of my family, and quite familiar with “Perfidious Albion”. You might have noticed, but we Americans had to wage two separate wars to kick your confiscatory, monarchical and inbred asses out of North America.

“God save the Queen”? Really? I loathe everything she represents (Divine Right, anyone?) and boasting about 700 years of oppression isn’t something I’d crow about.

[patb]

[quote=Allan from Fallbrook]

God, every time I hear someone whelping about union jobs, I want to retch. Seriously. Unions have done more to destroy the competitive backbone of this country than nearly any other force.

GM went to wrack and ruin because of the unions (and, yes, completely inept management).[/quote]

Really?

Toyota and VW and BMW pay almost equivalent wages within a couple of
points.

Toyota and Honda and Daimler ahve reputations for quality because
they have poured serious money into quality.

Sure those UAW guys are shitheads, but their managers were worse.

[patb]

[quote=Allan from Fallbrook]

God, every time I hear someone whelping about union jobs, I want to retch. Seriously. Unions have done more to destroy the competitive backbone of this country than nearly any other force.

GM went to wrack and ruin because of the unions (and, yes, completely inept management).[/quote]

Really?

Toyota and VW and BMW pay almost equivalent wages within a couple of
points.

Toyota and Honda and Daimler ahve reputations for quality because
they have poured serious money into quality.

Sure those UAW guys are shitheads, but their managers were worse.

[patb]

[quote=Allan from Fallbrook]

God, every time I hear someone whelping about union jobs, I want to retch. Seriously. Unions have done more to destroy the competitive backbone of this country than nearly any other force.

GM went to wrack and ruin because of the unions (and, yes, completely inept management).[/quote]

Really?

Toyota and VW and BMW pay almost equivalent wages within a couple of
points.

Toyota and Honda and Daimler ahve reputations for quality because
they have poured serious money into quality.

Sure those UAW guys are shitheads, but their managers were worse.

[patb]

[quote=Allan from Fallbrook]

God, every time I hear someone whelping about union jobs, I want to retch. Seriously. Unions have done more to destroy the competitive backbone of this country than nearly any other force.

GM went to wrack and ruin because of the unions (and, yes, completely inept management).[/quote]

Really?

Toyota and VW and BMW pay almost equivalent wages within a couple of
points.

Toyota and Honda and Daimler ahve reputations for quality because
they have poured serious money into quality.

Sure those UAW guys are shitheads, but their managers were worse.

[Author]

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