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Over 100 US Cities Bankrupt

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Re: Over 100 US Cities Bankrupt

Unread postby SeaGypsy » Wed 29 Dec 2010, 10:30:32

The guy saying $5 by 2012 is being cautiously optimistic, he is also lying when he call it a 'spike' the other crackpot who says $5 by 2020 is off his nana.

The more I look into it the more sense the money printing makes.
The US is headed for a vicious commodity inflation concurrent to asset deflation.
If you though the wealth gap was already wide enough, you aint seen nothin yet.
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Re: Over 100 US Cities Bankrupt

Unread postby vision-master » Wed 29 Dec 2010, 10:32:35

$this->bbcode_second_pass_quote('the48thronin', '')$this->bbcode_second_pass_quote('Serial_Worrier', '')$this->bbcode_second_pass_quote('vision-master', 'Y')ou can't default on public workers pensions, they are covered and guaranteed by State Statues/ laws.


Which can be invalidated by the courts or legislature.


From the article quoted earlier

$this->bbcode_second_pass_quote('', 'T')hen Prichard did something that pension experts say they have never seen before: it stopped sending monthly pension checks to its 150 retired workers, breaking a state law requiring it to pay its promised retirement benefits in full.


Or like Pritchard Alabama has done you simply don't send them checks ( 16 months now without a check) and you ignore the court order compelling you to send the checks ( 8 months since the court order was signed.. and then what? No one arrested, no one forced at the point of a bayonette to write a check, and the retired fire marshall dies alone in his home with no running water and no lights while others file bankruptsey and have their homes and autos repossessed.. Meanwhile you simply don't send the checks.


I'm covered..... lol

Pension Bill Receives Approval
$this->bbcode_second_pass_quote('', '
')Governor Tim Pawlenty signed this year's Omnibus Pension Bill shortly before midnight Saturday, May 15. It passed both the House and Senate three days earlier.

The bill had strong bipartisan support. The final vote in the Senate was 52-14, while the House approved the bill 116-16.

In Conference Committee
After initial approval in both houses of the legislature, the bill went to conference committee before the final vote. The committee agreed to a compromise on State funding for the Minneapolis Employees Retirement Fund, which became a separate division of PERA under the bill. The package calls for a State contribution of $13.75 million in 2011 and 2012. Thereafter the state would contribute $15 million annually until 2031, or until the plan is fully funded, whichever occurs sooner.
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Re: Over 100 US Cities Bankrupt

Unread postby vision-master » Wed 29 Dec 2010, 10:36:56

$this->bbcode_second_pass_quote('deMolay', 'C')heck out this new site. "Ill. is Broke" If you click on the spread sheets for pensions for Public employees, you will see why they are broke. Policeman, Firefighters, Labour can retire at 50 and be paid out over $1M in pension benefits for each retiree. Meanwhile the tax revenue is collapsing and the Gov. Wants to borrow another 20B this year to keep the game going. Ill. is now well over 100B in debt. Totally unsustainable. Tough decisions ahead. Do you keep paying the millionaire pensions, and quit maintaining infastructure like bridges, roads, schools etc. And keep raising taxes and seizing property to maintain these super pensions. http://www.illinoisisbroke.com/pensionmillionaires.aspx



$this->bbcode_second_pass_quote('', 'W')ar of words
The rhetoric of opponents of traditional pension plans has become quite inflammatory. “Overly-generous, gold-plated, lavish, extravagant, unreasonable, and unsustainable,” are just some of the adjectives being thrown around. Andrew Cuomo, while running for governor of New York, said, “We simply can’t afford to pay benefits and pensions that are out of line with economic reality.” Arnold Schwarzenegger, referring to poorer Californians, recently said, “They’re being robbed blind by the pensions of public employees.” In nearly every case, pension plan opponents see switching to a 401(k)-type plan as the obvious solution to public pension and government budget woes.

At their most base level, many of the calls for radical shifts in public pension policy play upon pension envy from voters. The debate is framed as an “us vs. them” proposition. “Why should public employees have a guaranteed retirement when I don’t have that same benefit in the private sector?” is the way it is usually presented. The numbers are true enough. While 84 percent of public-sector workers have a pension plan to rely on for retirement, the same is true for only 21 percent of private-sector employees—and that number is still declining.

Have you ever noticed, almost every negative report on public pensions keys in on the six figure pensions of a few highly-compensated individuals while ignoring the benefits of the average public employee? The average benefit of PERA retirees is approximately $1,300 per month (63 percent are under $1,000 a month).

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Re: Over 100 US Cities Bankrupt

Unread postby SeaGypsy » Wed 29 Dec 2010, 10:50:38

Yes but under the new world order $1000 is 5 times 60 hour a week new graduates or 1 mid level full time executive with a masters degree and 10 years experience. Or 10 to 20 broom pushers.
You can have your $1000 a month, but it will be harder and harder to live on.
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Re: Over 100 US Cities Bankrupt

Unread postby vtsnowedin » Wed 29 Dec 2010, 11:00:45

:( To see the potential future of your retirement and Social security you need look no further then to what happened to the pensioners of the former USSR. It is hard to collect a check from a government that no longer exists.
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Re: Over 100 US Cities Bankrupt

Unread postby vision-master » Wed 29 Dec 2010, 11:01:39

what a lucky man he was
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Re: Over 100 US Cities Bankrupt

Unread postby Pretorian » Wed 29 Dec 2010, 11:18:31

$this->bbcode_second_pass_quote('vtsnowedin', ':')( To see the potential future of your retirement and Social security you need look no further then to what happened to the pensioners of the former USSR. It is hard to collect a check from a government that no longer exists.


So? local governments paid those pensions. And still do. Granted, noone was collecting $200 000 a year, but still.
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Re: Over 100 US Cities Bankrupt

Unread postby vision-master » Wed 29 Dec 2010, 11:26:37

Didn't they also get to live in their houses regardless? Ain't gonna happen in the Banana Republic of Merika. No mortgage payment, out ya go.
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Re: Over 100 US Cities Bankrupt

Unread postby vtsnowedin » Wed 29 Dec 2010, 11:33:06

$this->bbcode_second_pass_quote('Pretorian', '')$this->bbcode_second_pass_quote('vtsnowedin', ':')( To see the potential future of your retirement and Social security you need look no further then to what happened to the pensioners of the former USSR. It is hard to collect a check from a government that no longer exists.


So? local governments paid those pensions. And still do. Granted, noone was collecting $200 000 a year, but still.

Here is a link to what I had in mind. 8O
http://www.tehrantimes.com/index_View.asp?code=156490

""I receive a pension of 3,000 roubles ($121.7 per month). They have given me another 300 roubles. On this money, I can eat 250 grams of bread a day. That's why I'm against Putin and United Russia,"" said a pensioner at the march, who declined to give her name.
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Re: Over 100 US Cities Bankrupt

Unread postby Timo » Wed 29 Dec 2010, 12:06:07

Congratulations, everyone! We're all alive at this point in time to witness the dismanteling of the global human civilization. We've built a house of money that requires constant inputs of more money to keep it standing. Without money, the house falls down. Some governments are learing this the hard way as you read this. Other governments only respond to disasters, and are waiting for a collapse to do anything about what they see coming. The 20th Century will go down in history as when humanity lost its survival instinct and substituted this basic preservation tool for the immediate greed of comfort. Everyone in the world has a neighbor named Jones, and we just have to keep up with the Joneses. Status and convenience supercedes long term survival. Well done!

And contrary to everyone who blames the sitting president of the USA, whoever that happens to be, i blame the Boomers! Us Xers are aptly named because we'll have those X's over our eyes when we're all dead.
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Re: Over 100 US Cities Bankrupt

Unread postby vision-master » Wed 29 Dec 2010, 12:08:35

lol the Boomers. Grow up for christ's sake. :badgrin:
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Re: Over 100 US Cities Bankrupt

Unread postby Pretorian » Wed 29 Dec 2010, 12:10:24

$this->bbcode_second_pass_quote('vtsnowedin', '')$this->bbcode_second_pass_quote('Pretorian', '')$this->bbcode_second_pass_quote('vtsnowedin', ':')( To see the potential future of your retirement and Social security you need look no further then to what happened to the pensioners of the former USSR. It is hard to collect a check from a government that no longer exists.


So? local governments paid those pensions. And still do. Granted, noone was collecting $200 000 a year, but still.

Here is a link to what I had in mind. 8O
http://www.tehrantimes.com/index_View.asp?code=156490

""I receive a pension of 3,000 roubles ($121.7 per month). They have given me another 300 roubles. On this money, I can eat 250 grams of bread a day. That's why I'm against Putin and United Russia,"" said a pensioner at the march, who declined to give her name.


Bread costs $0.5-1 per kg in russia. And less than that too I suppose. Pensions in 1992-1993 were often 1/20th of what they are now. I can tell you about a coal-miner with 28.5 years spent half a mile downstairs and 4 years of hazardous military service , with ruined health and all that who was getting $1 a month in 1993. Now he could be getting about $300 a month, if he didnt die from botched or underdrugged surgery to fix his ulcer, that is. It took him 4 days to die of peritonitis, with no pain medication. Isnt it a destiny of any working man-- life is a bitch and then you die.

But generally all or most of these pensioniers have apartments/houses that could set them for life somewhere in Vietnam or whereever the living is still cheap. Perhaps a local village 100 miles away?
But no, everyone has his/hers claws in cities, like if they got anything to do there or something. I guess its a social status game.
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Re: Over 100 US Cities Bankrupt

Unread postby Cog » Wed 29 Dec 2010, 17:42:34

$this->bbcode_second_pass_quote('vision-master', 'D')idn't they also get to live in their houses regardless? Ain't gonna happen in the Banana Republic of Merika. No mortgage payment, out ya go.


Without the validity of contract law, you have chaos. You surely aren't for that are you? When I signed off on my mortgage, I do not recall anyone's gun to my head.
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Re: Over 100 US Cities Bankrupt

Unread postby deMolay » Wed 29 Dec 2010, 17:49:50

Yes Cog, I paid off my mortgage some time back as well. But the Rules of the Human Tax Farm are like this. Even if you paid millions for your abode, as soon as you quit paying the rent on your land, ie; TAXES, the Human Tax Farmer, the faceless bureacrat will have you and yours thrown on the street like so much rubbish. And they will sell it again to someone else.
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Re: Over 100 US Cities Bankrupt

Unread postby vision-master » Wed 29 Dec 2010, 18:00:39

$this->bbcode_second_pass_quote('Cog', '')$this->bbcode_second_pass_quote('vision-master', 'D')idn't they also get to live in their houses regardless? Ain't gonna happen in the Banana Republic of Merika. No mortgage payment, out ya go.


Without the validity of contract law, you have chaos. You surely aren't for that are you? When I signed off on my mortgage, I do not recall anyone's gun to my head.


I think the contract wuz, well, taken care of by the Gov?
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Re: Over 100 US Cities Bankrupt

Unread postby vision-master » Wed 29 Dec 2010, 18:01:40

$this->bbcode_second_pass_quote('deMolay', 'Y')es Cog, I paid off my mortgage some time back as well. But the Rules of the Human Tax Farm are like this. Even if you paid millions for your abode, as soon as you quit paying the rent on your land, ie; TAXES, the Human Tax Farmer, the faceless bureacrat will have you and yours thrown on the street like so much rubbish. And they will sell it again to someone else.


Just have the loaded AK @ the door when the pigs show up. :)
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Re: Over 100 US Cities Bankrupt

Unread postby Pretorian » Wed 29 Dec 2010, 18:03:53

$this->bbcode_second_pass_quote('deMolay', 'Y')es Cog, I paid off my mortgage some time back as well. But the Rules of the Human Tax Farm are like this. Even if you paid millions for your abode, as soon as you quit paying the rent on your land, ie; TAXES, the Human Tax Farmer, the faceless bureacrat will have you and yours thrown on the street like so much rubbish. And they will sell it again to someone else.


DeMolay, out of curiocity, what will you do if I show up at your doorsteps and ask you to vacate the property within 24 hours?
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Re: Over 100 US Cities Bankrupt

Unread postby vision-master » Wed 29 Dec 2010, 18:05:48

I think da pigs give ya 5 minutes?
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Re: Over 100 US Cities Bankrupt

Unread postby Pretorian » Wed 29 Dec 2010, 18:11:21

I guess I was just trying to be nice. 5 minutes it is , then. DeMolay?
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Re: Over 100 US Cities Bankrupt

Unread postby deMolay » Wed 29 Dec 2010, 18:15:23

Come if you must Pretorian, I will surely make you welcome. But in the meantime, do you not pay TAXES? Do you not rent your property back off the Human Tax Farm Owner? You see that is the source of the evil.
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