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RE: California AND bust - 11/9/2011 7:50:24 AM   
Edwynn


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quote:

ORIGINAL: Sanity

I dont deny that Obama is in bed with Goldman Sachs, ... 




Neither would I.

But at least the current President doesn't have his legs pinned back and the Goldman CEO/US Treasury Secretary Hank Paulson saying "Who's your Daddy?" while being pumped, as was the case with the last President.






< Message edited by Edwynn -- 11/9/2011 8:47:11 AM >

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RE: California AND bust - 11/9/2011 8:11:17 AM   
SternSkipper


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quote:

Doing it the right way. Not in obama's amerika!


He still can't say the n-word ... what a pussy.



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RE: California AND bust - 11/9/2011 8:43:38 AM   
DomYngBlk


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quote:

ORIGINAL: Iamsemisweet

Speaking of lost causes. Or, yngBlk, you could just ignore the facts and pretend the whole thing isn't happening. Oh, and act like an asshole when someone points things out. That is evidently your personal solution to things, so good luck to you. I am sure the teacher's pension fund where ever you live will be happy to accept donations, if you want to help them "raise revenues." I think the more likely scenario is that more and more municipalities will be filing Chapter 9s, and Congress will be dreaming up a way for states to go bankrupt. I don't know a whole lot of people who would be willing to have their taxes raised more for the purpose of paying pensions. In terms of creating jobs, the only way that is going to happen is if the Feds decide to invest in a lot of infrastructure, or American companies are given incentives not to ship their jobs overseas.
You know, just because it is bad news and you don't want to hear it doesn't mean it isn't true.


Your original OP layed it out there like there isn't a ready solution. I don't care that you don't want your taxes raised. The problem isn't going to go away without that happening. Unless, you want to cancel out all the pension obligations which would only create another problem. Try to think past the problem to the logical solution.

Yes the gov't needs to do as in days past and employ a vast amount of people to help the unemployement.

Yes companies should be smacked over the nose with a newspaper like a bad dog so that they realize that they reside in the USA and not in any other country. Not being patriotic and doing what is best for your Countrymen first is what they have been all about. That needs to change.

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RE: California AND bust - 11/9/2011 9:01:03 AM   
Sanity


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The current President with his legs pinned back and the Goldman CEO saying "Who's your Daddy?"

quote:

ORIGINAL: Edwynn

Neither would I.

But at least the current President doesn't have his legs pinned back and the Goldman CEO/US Treasury Secretary Hank Paulson saying "Who's your Daddy?" while being pumped, as was the case with the last President.







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RE: California AND bust - 11/9/2011 9:07:14 AM   
Edwynn


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None of this bothered you when a R. President had a Goldman CEO as Treasury Secretary, not that I expect you to get the point however simply explained, anymore than in the >5 million times that other people have tried to explain to you which lace goes over the other in futile effort to teach you how to tie your shoes.


If you could ever find your way to even be able to pull up the first bow in that process, then understanding people might allow you gently into adult conversation.

I am not an understanding person, in that sense.





< Message edited by Edwynn -- 11/9/2011 9:21:04 AM >

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RE: California AND bust - 11/9/2011 9:49:56 AM   
Iamsemisweet


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My "original OP" included a link to a quite lengthy article that discusses potential solutions.  Obviously you didn't read it.  Your choice, but don't pretend to know my position on things.

You are correct about one thing, I don't want my taxes raised, particularly for the sole purpose of paying public pensions.  Greed is still greed, regardless of the size of the ambition that drives it.  I am not putting this in bumper sticker speak for you, but the article you didn't read puts it this way :

The problem, he explains, pre-dates the most recent financial crisis. “Hell, I was here. I know how it started. It started in the 1990s with the Internet boom. We live near rich people, so we thought we were rich.” San Jose’s budget, like the budget of any city, turns on the pay of public-safety workers: the police and firefighters now eat 75 percent of all discretionary spending. The Internet boom created both great expectations for public employees and tax revenues to meet them. In its negotiations with unions the city was required to submit to binding arbitration, which works for police officers and firefighters just as it does for Major League Baseball players. Each side of any pay dispute makes its best offer, and a putatively neutral judge picks one of them. There is no meeting in the middle: the judge simply rules for one side or the other. Each side thus has an incentive to be reasonable, for the less reasonable they are, the less likely it is that the judge will favor their proposal. The problem with binding arbitration for police officers and firefighters, says Reed, is that the judges are not neutral. “They tend to be labor lawyers who favor the unions,” he says, “and so the city does anything it can to avoid the process.” And what politician wants to spat publicly with police officers and firefighters?Over the past dec­ade the city of San Jose had repeatedly caved to the demands of its public-safety unions. In practice this meant that when the police or fire department of any neighboring city struck a better deal for itself, it became a fresh argument for improving the pay of San Jose police and fire. The effect was to make the sweetest deal cut by public-safety workers with any city in Northern California the starting point for the next round of negotiations for every other city. The departments also used each other to score debating points. For instance, back in 2002, the San Jose police union cut a three-year deal that raised police officers’ pay by 18 percent over the contract. Soon afterward, the San Jose firefighters cut a better deal for themselves, including a pay raise of more than 23 percent. The police felt robbed and complained mightily until the city council crafted a deal that handed them 5 percent more premium pay in exchange for training to fight terrorists. “We got famous for our anti-terrorist-training pay,” explains one city official. Eventually the anti-terrorist-training premium pay stopped; the police just kept the extra pay, with benefits. “Our police and firefighters will earn more in retirement than they did when they were working,” says Reed. “There used to be an argument that you have to give us money or we can’t afford to live in the city. Now the more you pay them the less likely they are to live in the city, because they can afford to leave. It’s staggering. When did we go from giving people sick leave to letting them accumulate it and cash it in for hundreds of thousands of dollars when they are done working? There’s a corruption here. It’s not just a financial corruption. It’s a corruption of the attitude of public service.”  (emphasis added)


quote:

ORIGINAL: DomYngBlk

quote:

ORIGINAL: Iamsemisweet




Your original OP layed it out there like there isn't a ready solution. I don't care that you don't want your taxes raised. The problem isn't going to go away without that happening. Unless, you want to cancel out all the pension obligations which would only create another problem. Try to think past the problem to the logical solution.

Yes the gov't needs to do as in days past and employ a vast amount of people to help the unemployement.

Yes companies should be smacked over the nose with a newspaper like a bad dog so that they realize that they reside in the USA and not in any other country. Not being patriotic and doing what is best for your Countrymen first is what they have been all about. That needs to change.


< Message edited by Iamsemisweet -- 11/9/2011 10:38:14 AM >


_____________________________

Alice: But I don't want to go among mad people.
The Cat: Oh, you can't help that. We're all mad here. I'm mad. You're mad.
Alice: How do you know I'm mad?
The Cat: You must be. Or you wouldn't have come here.

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RE: California AND bust - 11/9/2011 10:08:10 AM   
Edwynn


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quote:

ORIGINAL: Iamsemisweet



THIS is a jackpot http://www.cleveland.com/opinion/index.ssf/2010/06/public_pension_double_dipping.html

And this http://www.governing.com/columns/public-money/Looking-Twice-at-Pension.html

And this http://www.pacificlaborarchive.org/2011/01/double-dipping-is-common-for-public.html

As well as thishttp://www.usatoday.com/news/nation/2009-12-03-states-double-dipping_N.htm

So yep, I would say it is pretty much of a jackpot.





Actually, no.

THIS is a jackpot:

http://www.huffingtonpost.com/2010/02/03/aig-bonuses-in-2010-total_n_447025.html


At least it's down to ~$100 million this year. AIG paid $250 million in bonuses to their top employees for running not only their own division but the parent company into the dirt. No problem, that's what bail outs are for. The head of commodity trading at Citigroup got over $100 million all by himself, thanks to the CFTMA, while his company snuck no-doc-loan-backed CDOs into their commercial paper, thanks to the same CFTMA.

The financial meltdown, the economy of the US and the world, the shuttering of thousands of schools, the breakdown of public services, 8 million jobs lost ...

Whatta they call that? "collateral damage" or something?


The financial industry lobbied long and hard for the regulatory changes that allowed them to self destruct, except it wasn't actually self destruction because the implication of bail out was there all along. That moral hazard thing that nobody wants to learn what means. The bankers knew full well what it meant, and counted on people blaming unions and public employees after their well designed economic sink hole came to be, to deflect attention away from themselves for the gullible readers of the media. Their bonuses are based on performance, so considering their performance in transferring record amounts of tax money to their firms and guaranteeing  record low cost of funds to their firms for many years to come, we cannot deny that the billions in bonuses (across the industry) are well deserved.


A very well executed plan, no question.  


Damn those public employees, though.




< Message edited by Edwynn -- 11/9/2011 10:40:23 AM >

(in reply to Iamsemisweet)
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RE: California AND bust - 11/9/2011 10:42:11 AM   
Iamsemisweet


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Yep, that is a jackpot, as well.  Like I said, greed is greed, regardless of the size of the ambition that drives it.  I don't see the public employees' unions or employees as the hapless victims and dedicated public servants that you do.  I do see a lot of Chapter 9s in the future of a lot of municipalities, not just in CA, but elsewhere. 

_____________________________

Alice: But I don't want to go among mad people.
The Cat: Oh, you can't help that. We're all mad here. I'm mad. You're mad.
Alice: How do you know I'm mad?
The Cat: You must be. Or you wouldn't have come here.

(in reply to Edwynn)
Profile   Post #: 88
RE: California AND bust - 11/9/2011 10:52:59 AM   
Edwynn


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PS


I think that The Bank of International Settlements, The European Central Bank, The International Monetary Fund, The World Bank, the OECD, the G-20, and all the major central banks of Europe are having a conference sometime next week to discuss the issue of the San Jose CA firefighters and policemen, and how best to contain damage to the world economy thereby.




< Message edited by Edwynn -- 11/9/2011 10:55:30 AM >

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Profile   Post #: 89
RE: California AND bust - 11/9/2011 11:07:49 AM   
Iamsemisweet


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Whatever, Edwynn.  I imagine it is an enormous issue for the people of San Jose, who rely on the city for services, but I can see how it is unimportant to you.  From what I can see, you refuse to see any other viewpoint other than your own.  I think there is a really good argument to be made that any number of people contributed to this hole we were in, but if it makes you feel better to point all the blame at the bankers, I don't care.  Are you interested in blame, or solutions?  You got any?  The financial problems of the munis and the states are immediate, and no amount of regulation at this point is going to solve them. 
quote:

ORIGINAL: Edwynn





PS


I think that The Bank of International Settlements, The European Central Bank, The International Monetary Fund, The World Bank, the OECD, the G-20, and all the major central banks of Europe are having a conference sometime next week to discuss the issue of the San Jose CA firefighters and policemen, and how best to contain damage to the world economy thereby.





_____________________________

Alice: But I don't want to go among mad people.
The Cat: Oh, you can't help that. We're all mad here. I'm mad. You're mad.
Alice: How do you know I'm mad?
The Cat: You must be. Or you wouldn't have come here.

(in reply to Edwynn)
Profile   Post #: 90
RE: California AND bust - 11/9/2011 11:11:52 AM   
Edwynn


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quote:

ORIGINAL: Iamsemisweet

Yep, that is a jackpot, as well.  Like I said, greed is greed, regardless of the size of the ambition that drives it.  I don't see the public employees' unions or employees as the hapless victims and dedicated public servants that you do.  I do see a lot of Chapter 9s in the future of a lot of municipalities, not just in CA, but elsewhere. 



No argument from me that Ch. 9s aplenty are in the future. What you miss out on is that a large number of them will occur far from unionized states.


Here in the Southeast, there are virtually no unions, and certainly not any for public employees.

Just last year, 8 elementary schools, 2 middle schools, and one HS were shuttered, just in my county, (that's ONE county). MARTA eliminated 136 bus lines and cut the remaining rail and bus service by 20%. Police and firefighter or any other county service hiring is essentially frozen, library hours cut 20%, layoffs across the board, teacher furloughs at the university  ...  no unions in sight. I can quite assure you that no public employee in this county or state is overpaid.

But as you say, we have to cut the greed somewhere. Those greedy school kids were  certainly dealt with here.

Wall St. bonuses are counting on that money, and that crowd are not known as being the patient sort.






< Message edited by Edwynn -- 11/9/2011 11:44:42 AM >

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RE: California AND bust - 11/9/2011 11:14:05 AM   
FirmhandKY


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quote:

ORIGINAL: Iamsemisweet

Are you interested in blame, or solutions?  You got any?

Blame.

Behead anyone who makes over x amount of money (generally, the amount is defined as "more than me"), nationalize their assets and distribute it to "the poor".

Firm

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RE: California AND bust - 11/9/2011 11:17:31 AM   
Edwynn


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No, it's about beheading anybody who steals over x amount of tax dollars.

Better warn your Koch Bros. and ExxonMobile buddies.



As to the question of blame:

So far, the blame here has been ascribed to homeowners and public employees and the poor.


I'd say the media are doing a bang-up job on this one. Wonder who they're owned by?








< Message edited by Edwynn -- 11/9/2011 12:00:51 PM >

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RE: California AND bust - 11/9/2011 11:37:46 AM   
Iamsemisweet


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I don't know anything about the public pension system in the Southeast, or whether that is a factor.  The article that I cited, and you did not read, discusses CA.  For all I know, this isn't even an issue where you live.  I never said it was.
You know, you come across as kind of crazy and dizzyingly illogical.
  I'm just saying.  I also notice that your really didn't have any particular solution.  Another blow hard.  What a surprise.
quote:

ORIGINAL: Edwynn

quote:

ORIGINAL: Iamsemisweet

Yep, that is a jackpot, as well.  Like I said, greed is greed, regardless of the size of the ambition that drives it.  I don't see the public employees' unions or employees as the hapless victims and dedicated public servants that you do.  I do see a lot of Chapter 9s in the future of a lot of municipalities, not just in CA, but elsewhere. 



No argument from me that Ch. 9s aplenty are in the future. What you miss out on is that a large number of them will occur far from unionized states.


Here in the Southeast, there are virtually no unions, and certainly not any for public employees.

Just last year, 8 elementary schools, 2 middle schools, and one HS were shuttered, just in my county, (that's ONE county). MARTA eliminated 136 bus lines and cut the remaining rail and bus service by 20%. Police and firefighter or any other county service hiring is essentially frozen, library hours cut 20%, layoffs across the board ...  no unions in sight.

But as you say, we have to cut the greed somewhere. Those greedy school kids.

Wall St. bonuses are counting on that money, and that crowd are not known as being the patient sort.



< Message edited by Iamsemisweet -- 11/9/2011 11:58:50 AM >


_____________________________

Alice: But I don't want to go among mad people.
The Cat: Oh, you can't help that. We're all mad here. I'm mad. You're mad.
Alice: How do you know I'm mad?
The Cat: You must be. Or you wouldn't have come here.

(in reply to Edwynn)
Profile   Post #: 94
RE: California AND bust - 11/9/2011 12:13:44 PM   
Edwynn


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I did in fact read the article, and nowhere in the article did I see where CA was to be the cause of other municipalities' problems, or that public employees in general were greedy. That was your implication and yours alone. No, you "never sais it was" regarding my particular location, but "public employee" and "greed" are associated well enough in your posts in this thread.

I'm sorry if a person who is actually educated in economics and finance comes across as illogical to you; many people ignorant in these matters have the same response when I make the mistake of attempting even the slightest bit of explanation on these matters.

I tutor fresh./soph. econ students. They actually want to learn.

As for solutions, people much smarter than I have been offering them for decades and have been ignored or laughed at for decades. Sure I have solutions, workable solutions, but don't ask for what you are incapable of understanding.


PS

I take that last part back. In the current environment media-politic, there are no such things as workable solutions. This has become a dichotomy. If it's politically "workable," then it's not an actual solution for society. When CEOs run the government, then there is no problem, for them. That's the whole point these last 30 years. The whole point in converse of that is embedded into at least some portion of OWS.

For those paying attention.











< Message edited by Edwynn -- 11/9/2011 12:51:42 PM >

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RE: California AND bust - 11/9/2011 1:15:23 PM   
Iamsemisweet


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By the way, it looks like employees in your state are repped by a union, the afscmehttp://www.afscme.org/union/directory/georgia. So much for the union free southeast. You have a good day, Eddie baby, and I hope those freshman enjoy the benefit of your vast knowledge. I am more than willing to soldier on without that benefit.
I think you need to re read the article if you don't think it pointed the finger at PE Unions. "corrupted the meaning of public service" seems damning to me, if not as pithy as "kill the Koch brothers".

_____________________________

Alice: But I don't want to go among mad people.
The Cat: Oh, you can't help that. We're all mad here. I'm mad. You're mad.
Alice: How do you know I'm mad?
The Cat: You must be. Or you wouldn't have come here.

(in reply to Edwynn)
Profile   Post #: 96
RE: California AND bust - 11/9/2011 1:22:25 PM   
Edwynn


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"Kill the Koch Brothers"...

Damn, I wish I had thought of that. You beat me to it, yet again.



Certainly, "home owners who bought their house 20 years ago and already paid their second mortgage to re-roof the house, and all the policemen and firemen in the US got what's coming to them," is far less pithy than the aforementioned, even if it was the same person who came up with both.

Most assuredly, you will soldier on depending on whatever banking interest lawyers or the latest blurb the media has presented you with to divert your attention. Screw education.


PE are responsible for the shuttering of all the schools, then. Thanks. And tell your lawyer teachers I said so.













< Message edited by Edwynn -- 11/9/2011 1:38:18 PM >

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RE: California AND bust - 11/9/2011 1:38:51 PM   
Sanity


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Thats a wild departure from the above context, you claimed that Obama wasnt taking it from Goldman Sachs and I proved that he is

That being said I wont try to sink to your level of  'debate' nor waste time trying to keep up with your efforts to continually move the goalposts and / or drastically change the subject

quote:

ORIGINAL: Edwynn




None of this bothered you when a R. President had a Goldman CEO as Treasury Secretary, not that I expect you to get the point however simply explained, anymore than in the >5 million times that other people have tried to explain to you which lace goes over the other in futile effort to teach you how to tie your shoes.


If you could ever find your way to even be able to pull up the first bow in that process, then understanding people might allow you gently into adult conversation.

I am not an understanding person, in that sense.






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Profile   Post #: 98
RE: California AND bust - 11/9/2011 1:40:42 PM   
Edwynn


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Joined: 10/26/2008
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"Kill the Koch Brothers"...

Damn, I wish I had thought of that. You beat me to it, yet again.



Certainly, "home owners who bought their house 20 years ago and already paid off their second mortgage to re-roof the house, and all the policemen and firemen in the US got what's coming to them," is far less pithy than the aforementioned, even if it was the same person who came up with both.

Most assuredly, you will soldier on depending on whatever banking interest lawyers or the latest blurb the media has presented you with to divert your attention. Screw education.


PE are responsible for the shuttering of all the schools, then. Thanks. And tell your lawyer teachers I said so.


You can't even read my or anyone else's posts here properly, so you may want to take into consideration that not everyone will read the links you give with the same inclination or desperation toward absolving the people at foundation of the troubles for many years to come, the financial industry, as you do. That's two red herrings already upon which you have started threads.

The media throws a stick, you run and fetch. Good luck anyone taking you seriously.

You are a piece of work.








< Message edited by Edwynn -- 11/9/2011 2:04:05 PM >

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RE: California AND bust - 11/9/2011 1:41:47 PM   
mnottertail


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Well, but you have, you see the subject is California and pension plans, so once again you are slumrunning and avoiding debate of the actual topic with your strawmen, ad hominems, and gaybashing.

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