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GM 1, Detroit schools 0. Irony 100.

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Posted

Man I keep scanning my post looking for where I blamed a particular party.

Project much?

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Posted

Detroit has no one to blame but themselves.

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Posted

You know I'd feel a little bit different if all these governments had put a little away during the boom years rather than go nuts cutting taxes and handing out goodies (which all of America ate up like little baby birds) and thus ensuring the crises would be worse than they needed to be.

People tend to work for the state because it's secure. They trade off the higher salaries they could find in the private sector for stability and a more generous vacation schedule.

So what happens? During the bull market, they sit and watch their friends in the regular work world's wages go up and up while theirs stay pretty much the same.

Where were all these articles proclaiming how unfair it was for state workers while government after government took in boatloads of tax revenue? They weren't there. State workers largely kept quiet because they knew they'd traded cash for stability. Everyone was OK with that then.

Now that there's a short fall? WHO ARE THESE SELFISH WORKERS THAT WON'T TAKE A KICK IN THE NUTS?

And no one NO ONE in the financial industry better say a peep after it was their greed that caused this crash and they responded by giving themselves fat little bonuses with my tax bailout money.

Ya gotta play the cards you are dealt. You are smart enough to choose stable over risk reward that is your choice. And do state workers not have a pension or a 403b? You mean they too didn't take advantage/get burned by the same magical money machine called the stock market?

The private sector that you are holding up as el bandido here are the same ones paying for the PUBLIC workers benefits. Are they not? Is that money coming from a Golden Goose that lives on Easter Island?

And those states that are heavily Dem over the years as well as the metro's weren't exactly cutting taxes or handing out money bags.

And guess why those states took in revenue? People were working and paying taxes and buying stuff.

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Posted

Is that money coming from a Golden Goose that lives on Easter Island?

LOL. Rep.

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Posted

More projecting. Awesome.

Guess I should have known better than to demonize the finance industry in pstall's union demonizing thread.

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Posted

im demonizing the model. not the union themselves. i also demonized NC's property tax system. You must have missed that.

So have those poor saintly public workers only had their wages to rely on or did they not get to invest just like those greedy capitalist pigs?

How did their benefits get paid for as well?

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Posted

im demonizing the model. not the union themselves. i also demonized NC's property tax system. You must have missed that.

So have those poor saintly public workers only had their wages to rely on or did they not get to invest just like those greedy capitalist pigs?

How did their benefits get paid for as well?

State employee's can't do risky investments with their retirement (which is nice in the early years) If you pay off your house and kids education before retirement, you can live fine retiring at 50. You will not be sailing around the world, but if you are a simpleton working for the state is a less stress way to a solid retirement.

Detroit is really poor.

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Posted

I'm still hazy on why you have a Chrysler ad in a thread talking about GM.

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Posted

I'm still hazy on why you have a Chrysler ad in a thread talking about GM.

probably to show detroit's fine automotive marketing. GM is no better.

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Posted

The risky investment as defined by the plan administrator. Most smart pension fund managers wrote covered calls.

In NC, whether you want to or not, 6% of your salary is put into a 403b. And if you are let go within the first 5 yrs, you do NOT get those funds back.

That's part to cover, cough, legacy costs and pad the general reserve fund. But that's going down.

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Posted

Government needs to get out of the education business. They do it as well as everything else they get involved in.

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Posted

The risky investment as defined by the plan administrator. Most smart pension fund managers wrote covered calls.

In NC, whether you want to or not, 6% of your salary is put into a 403b. And if you are let go within the first 5 yrs, you do NOT get those funds back.

That's part to cover, cough, legacy costs and pad the general reserve fund. But that's going down.

Not saying it is perfect, but if you are simple in what you want it will suffice and you will not have the stress of a career in private industry.

Unions have added this public career security to private companies AND they are giving at least private sector pay which is is impossible to retain. The auto union system was doomed when the first inexpensive asian/foreign car came off the boat 40 years ago. That is all.

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