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Everyone who is NOT heading for the hills, raise your hand.
Re: Everyone who is NOT heading for the hills, raise your ha
by Quinny » Sun 29 Dec 2013, 15:19:00
Reminds me of a senior colleague who during a discussion about house prices announced his hadn't changed in value since he'd bought it 20 years previously. When eyebrows were raised he said 'It's still worth one home!' Thought it was a good way to value property!
Live, Love, Learn, Leave Legacy.....oh and have a Laugh while you're doing it!
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Quinny - Intermediate Crude
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Re: Everyone who is NOT heading for the hills, raise your ha
by Loki » Sun 29 Dec 2013, 16:51:37
$this->bbcode_second_pass_quote('Newfie', 'W')hether you agree with the retirement system or not is not material. It was a contract executed by the employee in good faith. Changing the contract after the fact is not ethical. What it does is to break down trust in the system.
Well, this is the Long Descent / Long Emergency. Read Foss and Kunstler on the contraction of the trust horizon.
The breakdown in trust in the system has been ongoing for years. Just ask US Airways retirees, public employees in Detroit, etc., etc. Public employee pensions around the country---including Oregon---have been enjoying decreases in the cost of living increases for some time now. Only fair military retirees should share the joy.
40 years of pension for 20 years of work is not a sustainable system. The recent bill was only a slowing in the increase of cost of living allowance, not an actual cut. What we need are actual cuts, across the board. Otherwise we keep printing money.
Some private sector and local government employees have had their pensions slashed by 50% or more. Not a slowing in the rate of increase, but actual decreases, massive decreases in some cases. And that's for folks lucky enough to have pensions.
$this->bbcode_second_pass_quote('', 'C')urrently, fewer than one in six private-sector workers are covered by defined-benefit pensions, a percentage that has been shrinking for three decades. More than half of private-sector workers have no retirement coverage through their employers.
http://www.washingtonpost.com/business/ ... story.html
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