Another wheel comes off ?

[Raz]

Well, I'm sure that "Pinnochio" Geithner will tell us not to worry since the "majority are well capitalized". And if not, he can just get "Banana Ben" to mouse-click a few extra $Trillion into existence, you know, to "protect consumers and working people".:rolleyes:

http://pensionpulse.blogspot.com/2009/04/pensions-death-spiral.html

[Starving Steve]

Re: Another wheel comes off ?

Why does the tax-payer or the saver (thru inflation) have to bail-out a tiny handful of older workers in Detroit's big-three? And then, the tiny handful is going to collect fabulous benefits: like $54,000 per year pensions when a much more modest pension benefit, like $15,000 per year, could do just fine.

I don't like the Demos or the Repukes. Both of them have filled their pockets and expect me to bail them out. And if the bail-outs aren't in the auto industry, they are running wild in the public schools with the senior teachers..... Same story: fabulous benefits to a tiny handful and the rest get nothing. The rest pick-up the bills for the bail-outs.

When are unions going to support all workers, young and old?

[tastymannatees]

Re: Another wheel comes off ?

Why does the tax-payer or the saver (thru inflation) have to bail-out a tiny handful of older workers in Detroit's big-three? And then, the tiny handful is going to collect fabulous benefits: like $54,000 per year pensions when a much more modest pension benefit, like $15,000 per year, could do just fine.

That one irritates me to no end, funding a much more generous retirement than what most taxpayers can expect to see because they are a chosen class/group.

I guess the incentive is for everybody to go get a teaching job and join a union.

[Raz]

Re: Another wheel comes off ?

I agree with both of you guys. BUT...it's potentially far worse than that.

Every business that spent the last twenty years avoiding strikes by caving in to ridiculous demands from unions might just decide to attempt Chapter 11 Reorganization and dump their pension liabilities onto the Pension Benefit Guaranty Corp (PBGC, that translates "Raz, Steve, Mannatee and all the rest of the taxpaying saps").:mad:

I'm tired of opening a vein for the special interest groups who control the RepubliCrat Party (there's only one Party now, guys, and they're both owned by the same group of banksters). I know the path to a Dollar collapse is a long and winding road and might not look like what we all expect, having the Reserve Currency as we do, but it seems inevitable if the "Gang of 535" remains in control.