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The Derailing Thread

jasonc said:
...you try funding any pension...
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Inflation has made it almost impossible for towns and cities to fund their pension plans. Inflation is confiscating purchasing power from local revenue, which is why services keep going backward, and debt is to the moon. Inflation is the primary reason most private companies have abandoned defined benefit pensions. They did not want to take the risk of bankers inflating away what the company had put in the pension fund, leaving the company to make up the difference.

Inflation is the bank's war on their elders, and also the bank's war on cities.
 
not really. the markets crash. the pensions for the government aren't by law have to be fully funded. imagine that its a pay as you go an no matter what the market is in bear or bull. its paying out what is a promise. its an iou. im paying for those before me. the city of NY allows for the payouts to happen the month of the retirement. this means at 38, I will get my pension. yes taxes are paying for that.
 
th1b.taylor said:
Actually, both of you are largely correct. The two points must be reconciled but I can call neither, incorrect.
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I'm not denYing his points .only that where I work ,the retirees don't get raises all the time.my fil is one of them.he retired in 1977.a pension is invested .wall street and any exchange aren't bankers.but investers.banks do that but stocks bought and sold and the prices of them are set by the company as they report profits or loss or the whole exchange reacts to world events.
 
The stock market is now centrally planned by the bank, at least in part. In Japan, the bank does this by buying stocks directly. In the US, the bank works through its leveraged proxies. That is, the bank prints credit, and lends it to hedge funds et al to buy stock on de facto margin.

The free market is gone. A committee of bankers decides the price of stocks, bonds, homes, consumer items at the store, etc... Bank control of price is not perfect, but prices are not where the free market would set them.
 
You are correct that some cities have overly generous pensions. However, even many cities that have sensible pensions are in debt to the moon. There is no real way for pension plans to win when the bank is printing unpredictable inflation, and negative real interest rates. Its impossible to predict the rate of inflation, so its impossible to calculate exactly how much a city has to save for the future.

Bonds with negative real interest rates are useless for funding pensions, so cities gamble on unpredictable stocks, timber, commodities, derivatives, etc... Its impossible to calculate how much a city should save each year when no one can predict whether timber companies will prosper in the future, or how much the bank will inflate away the pension plan nest egg.
 
Michael74 said:
The stock market is now centrally planned by the bank, at least in part. In Japan, the bank does this by buying stocks directly. In the US, the bank works through its leveraged proxies. That is, the bank prints credit, and lends it to hedge funds et al to buy stock on de facto margin.

The free market is gone. A committee of bankers decides the price of stocks, bonds, homes, consumer items at the store, etc... Bank control of price is not perfect, but prices are not where the free market would set them.
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Uhm no. I know a banker who runs my trust.surely if that was the case as he owned a bank,runs trust and hates modern banking.gm which has been making money is in the trust fund.my grandmother a liberal told him where to rub the trust.name those bankers by name and bank.the federal bank is a private bank.america has never fully had a free market.unless you want call land aquistion by gun point a free market function as many of the rail roads worked that way.Flagler made florida .yet he would fit a corporatist, so would carnagie,jp morgan,Rockefeller. Ford as well.gold was the standard when they were working that fleecing and forcing competition out of business.
 
So my alternator (the one I put on in June for my CAA6 trip) failed on the way home from the Dragon. Bought it at NAPA and lost the receipt. NO RECORD with the credit cards - so I guess I paid cash???

The guy at the store found my purchase in the computer, apologized for it failing, and will have a new one by 4pm today for me.

NAPA is making me a believer, first, they were the ONLY store who could get me one in four hours on a Saturday, NOW they can replace it without a receipt.
 
Pizza said:
So my alternator (the one I put on in June for my CAA6 trip) failed on the way home from the Dragon. Bought it at NAPA and lost the receipt. NO RECORD with the credit cards - so I guess I paid cash???

The guy at the store found my purchase in the computer, apologized for it failing, and will have a new one by 4pm today for me.

NAPA is making me a believer, first, they were the ONLY store who could get me one in four hours on a Saturday, NOW they can replace it without a receipt.
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Maybe NAPA is born again.
 
Pizza said:
So my alternator (the one I put on in June for my CAA6 trip) failed on the way home from the Dragon.
Click to expand...

2 brand new replacement starters in a row failed on my car, until the 3rd one finally worked right. Parts today seem to be of such shoddy quality. Back in the day, I bought a new starter for one of my cars, and it lasted for the rest of the time I owned that car. The bank is inflating away the quality of car parts, I guess.
 
The speed of light is fine tuned to produce optimal conditions on earth. If light moved faster, the sun would be uncomfortably warm. If light moved slower, the sun would not be warm enough. E=mc²
 
in a flash, in the twinkling of an eye, at the last trumpet. For the trumpet will sound, the dead will be raised imperishable, and we will be changed. 1 Corinthians 15:52 NIV
 
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