OT: Public pay & benefits

[CA renter]

[quote=briansd1][quote=CA renter] The “pension crisis” is a *symptom* of the crisis; it is not, in any way, a cause of our current economic problems.[/quote]

CA renter, if the pensions did not depend on return on investment (capitalist system) and came 100% from employer and employee contributions, then the pensions would be a lot less generous.

Budgets would be more constrained and salaries lower.

If you worked out the math, you’d see that.[/quote]

Absolutely. And without the Fed’s inflationary policies (a capitalist system), we wouldn’t all need to rely on “investments” to fund our retirements, as our money would retain its purchasing power over time. One of the main reasons we have to earn a yield on investments and savings is because we are trying to “beat inflation” over many decades — an almost impossible task without lots of speculation, and the resulting bubbles (and busts).

[scaredyclassic]

That’s an odd thought; imagine a system where you could actually save money for retirement. Like, dollars. That would be an insane plan obviously in reality, but in principle it seems reasonable. You need money later so you save some. Fascinating.

I think these dining room chairs I bought are going to keep pace with inflation. Tolix brand made in France cafe chairs. 50 year old weathered ones go for 4-600 each new ones about 250. I seriously believe they will pan out to be profitable someday. It’s also a good investment to stock up on groceries. Buy a couple thousand worth. Whatever the price goes up is tax free gain. Basically I’m investing in chairs, food and gold mines. Seems more reasonable to be ok w money in the bank.

[scaredyclassic]

That’s an odd thought; imagine a system where you could actually save money for retirement. Like, dollars. That would be an insane plan obviously in reality, but in principle it seems reasonable. You need money later so you save some. Fascinating.

I think these dining room chairs I bought are going to keep pace with inflation. Tolix brand made in France cafe chairs. 50 year old weathered ones go for 4-600 each new ones about 250. I seriously believe they will pan out to be profitable someday. It’s also a good investment to stock up on groceries. Buy a couple thousand worth. Whatever the price goes up is tax free gain. Basically I’m investing in chairs, food and gold mines. Seems more reasonable to be ok w money in the bank.

[scaredyclassic]

That’s an odd thought; imagine a system where you could actually save money for retirement. Like, dollars. That would be an insane plan obviously in reality, but in principle it seems reasonable. You need money later so you save some. Fascinating.

I think these dining room chairs I bought are going to keep pace with inflation. Tolix brand made in France cafe chairs. 50 year old weathered ones go for 4-600 each new ones about 250. I seriously believe they will pan out to be profitable someday. It’s also a good investment to stock up on groceries. Buy a couple thousand worth. Whatever the price goes up is tax free gain. Basically I’m investing in chairs, food and gold mines. Seems more reasonable to be ok w money in the bank.

[scaredyclassic]

That’s an odd thought; imagine a system where you could actually save money for retirement. Like, dollars. That would be an insane plan obviously in reality, but in principle it seems reasonable. You need money later so you save some. Fascinating.

I think these dining room chairs I bought are going to keep pace with inflation. Tolix brand made in France cafe chairs. 50 year old weathered ones go for 4-600 each new ones about 250. I seriously believe they will pan out to be profitable someday. It’s also a good investment to stock up on groceries. Buy a couple thousand worth. Whatever the price goes up is tax free gain. Basically I’m investing in chairs, food and gold mines. Seems more reasonable to be ok w money in the bank.

[scaredyclassic]

That’s an odd thought; imagine a system where you could actually save money for retirement. Like, dollars. That would be an insane plan obviously in reality, but in principle it seems reasonable. You need money later so you save some. Fascinating.

I think these dining room chairs I bought are going to keep pace with inflation. Tolix brand made in France cafe chairs. 50 year old weathered ones go for 4-600 each new ones about 250. I seriously believe they will pan out to be profitable someday. It’s also a good investment to stock up on groceries. Buy a couple thousand worth. Whatever the price goes up is tax free gain. Basically I’m investing in chairs, food and gold mines. Seems more reasonable to be ok w money in the bank.

[paramount]

A few quotes from an interesting LA Times article on this matter:

http://www.latimes.com/business/la-fi-hiltzik-20110515,0,1032272.column

“Government workers are seen by the average strapped taxpayer as insulated from these pressures (public employees don’t help themselves by engaging in scams like “spiking” their final years’ pay to pump up their pensions), but the resulting resentment is the ultimate class-war victory of the haves over the have-nots.”

“One can mourn the decline of traditional pensions in the private economy but still acknowledge that California public pensions are way out of line by customary standards.”

“The mistakes of the past should be red-tagged: No pension contribution “holidays,” ever again. No retroactive enhancements. Increases in the retirement age for most workers from 55 to 60 or 65. Voter approval of all pension increases.”

[paramount]

A few quotes from an interesting LA Times article on this matter:

http://www.latimes.com/business/la-fi-hiltzik-20110515,0,1032272.column

“Government workers are seen by the average strapped taxpayer as insulated from these pressures (public employees don’t help themselves by engaging in scams like “spiking” their final years’ pay to pump up their pensions), but the resulting resentment is the ultimate class-war victory of the haves over the have-nots.”

“One can mourn the decline of traditional pensions in the private economy but still acknowledge that California public pensions are way out of line by customary standards.”

“The mistakes of the past should be red-tagged: No pension contribution “holidays,” ever again. No retroactive enhancements. Increases in the retirement age for most workers from 55 to 60 or 65. Voter approval of all pension increases.”

[paramount]

A few quotes from an interesting LA Times article on this matter:

http://www.latimes.com/business/la-fi-hiltzik-20110515,0,1032272.column

“Government workers are seen by the average strapped taxpayer as insulated from these pressures (public employees don’t help themselves by engaging in scams like “spiking” their final years’ pay to pump up their pensions), but the resulting resentment is the ultimate class-war victory of the haves over the have-nots.”

“One can mourn the decline of traditional pensions in the private economy but still acknowledge that California public pensions are way out of line by customary standards.”

“The mistakes of the past should be red-tagged: No pension contribution “holidays,” ever again. No retroactive enhancements. Increases in the retirement age for most workers from 55 to 60 or 65. Voter approval of all pension increases.”

[paramount]

A few quotes from an interesting LA Times article on this matter:

http://www.latimes.com/business/la-fi-hiltzik-20110515,0,1032272.column

“Government workers are seen by the average strapped taxpayer as insulated from these pressures (public employees don’t help themselves by engaging in scams like “spiking” their final years’ pay to pump up their pensions), but the resulting resentment is the ultimate class-war victory of the haves over the have-nots.”

“One can mourn the decline of traditional pensions in the private economy but still acknowledge that California public pensions are way out of line by customary standards.”

“The mistakes of the past should be red-tagged: No pension contribution “holidays,” ever again. No retroactive enhancements. Increases in the retirement age for most workers from 55 to 60 or 65. Voter approval of all pension increases.”

[paramount]

A few quotes from an interesting LA Times article on this matter:

http://www.latimes.com/business/la-fi-hiltzik-20110515,0,1032272.column

“Government workers are seen by the average strapped taxpayer as insulated from these pressures (public employees don’t help themselves by engaging in scams like “spiking” their final years’ pay to pump up their pensions), but the resulting resentment is the ultimate class-war victory of the haves over the have-nots.”

“One can mourn the decline of traditional pensions in the private economy but still acknowledge that California public pensions are way out of line by customary standards.”

“The mistakes of the past should be red-tagged: No pension contribution “holidays,” ever again. No retroactive enhancements. Increases in the retirement age for most workers from 55 to 60 or 65. Voter approval of all pension increases.”

[paramount]

Missed one:

“The Little Hoover Commission’s guiding principle is that public pensions should be restored to the original role of providing for an adequate and humane lifestyle after retirement, not for creating wealth for a few at the expense of all Californians. It’s the right course. Turning the state into a hollowed-out shell is bad for everyone.”

[paramount]

Missed one:

“The Little Hoover Commission’s guiding principle is that public pensions should be restored to the original role of providing for an adequate and humane lifestyle after retirement, not for creating wealth for a few at the expense of all Californians. It’s the right course. Turning the state into a hollowed-out shell is bad for everyone.”

[paramount]

Missed one:

“The Little Hoover Commission’s guiding principle is that public pensions should be restored to the original role of providing for an adequate and humane lifestyle after retirement, not for creating wealth for a few at the expense of all Californians. It’s the right course. Turning the state into a hollowed-out shell is bad for everyone.”

[paramount]

Missed one:

“The Little Hoover Commission’s guiding principle is that public pensions should be restored to the original role of providing for an adequate and humane lifestyle after retirement, not for creating wealth for a few at the expense of all Californians. It’s the right course. Turning the state into a hollowed-out shell is bad for everyone.”

[Author]

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