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(Philly.com)   It turns out that gutting pension funds for fun and profit may have some negative consequences down the road   (philly.com ) divider line 161
    More: Followup, Mount Kilimanjaro, retirement crisis, actuarial tables, Organization for Economic Cooperation  
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3943 clicks; posted to Politics » on 29 Dec 2013 at 2:10 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-12-29 10:14:40 PM  

Your Hind Brain: How much credence do you have with the CBO projection?


Lol, backtrack much?

Probably more than any other projection as this is their job.  Still does not make it gospel.  Far from it.
 
2013-12-29 10:30:11 PM  

HeadLever: Your Hind Brain: How much credence do you have with the CBO projection?

Lol, backtrack much?

Probably more than any other projection as this is their job.  Still does not make it gospel.  Far from it.


Backtrack?

HeadLever: Comparing at the projection in 2080 is pretty much fruitless as a total economic collapse would happen well before that under both projections.

So why bother posting that chart at all? Jesus christ man. You posted your old chart because it's got a big scary line that slopes up very quickly. You got called out, posted the updated chart with a spending-line that is dramatically less sloped and now all of a sudden long term spending projections are no big deal! They're fruitless! What the fark ever.
 
2013-12-29 10:43:59 PM  

Your Hind Brain: So why bother posting that chart at all? Jesus christ man.


I take it you really don't know what these chart are showing.  I guess I should not have assumed that you would understood.

Take a look at the year 2035 to 2040 depending upon which graph you choose.  Do you know what a Total Federal Spending of 30% of GDP represents in real economic terms to this country?  Until you can understand that, please don't worry about what happens in 2080 in either graph.

Seriously, do you know what would really happen if we allowed total federal spending to reach 30% of GDP?
 
2013-12-29 11:00:08 PM  
Never assume, assert, or "understood" anything with me. I only copy/pasta'd from a comment a bit back in the thread where you yourself had a bit of a backtrack. Don't be hatin'. It's only a thread.
 
2013-12-29 11:02:57 PM  

HeadLever: Your Hind Brain: So why bother posting that chart at all? Jesus christ man.

I take it you really don't know what these chart are showing.  I guess I should not have assumed that you would understood.

Take a look at the year 2035 to 2040 depending upon which graph you choose.  Do you know what a Total Federal Spending of 30% of GDP represents in real economic terms to this country?  Until you can understand that, please don't worry about what happens in 2080 in either graph.

Seriously, do you know what would really happen if we allowed total federal spending to reach 30% of GDP?


And I don't trust the graph 100%. Maybe you do? Maybe? No assuption here.
 
2013-12-29 11:19:20 PM  

Your Hind Brain: And I don't trust the graph 100%.


trust?  what are you talking about?  It is a projection.  I trust it in as far as any other projection produced by capable folks that try to stay as non-biased as possible.

To equate any projection with 100% trust is pure foolishness.
 
2013-12-30 12:04:35 AM  
If you're in private industry and have a pension program and still expect it to be there when you retire, you're incredibly naive.  That shiat will be dumped at the first opportunity or hint of financial trouble.  It can get negotiated away in a blink of a judge's eye.
 
2013-12-30 12:17:50 AM  

jjorsett: The present situation is a result of overpromising and underfunding of benefits. You can see the phenomenon at work today in the number of Farkers who think it's something approaching a crime that the US Postal Service is required to fully fund its retiree pension and health plans.


That's some mighty fine spin there buddy. Bravo.
 
2013-12-30 01:44:28 AM  
So old people staked their plans on fleecing younger generations so that they could "travel", own multiple homes, and live the good life off of the work of the younger generations because they didn't want to do it themselves.  Cry me a river, you selfish a holes.
 
2013-12-30 02:36:00 AM  

IrishFarmer: So old people staked their plans on fleecing younger generations so that they could "travel", own multiple homes, and live the good life off of the work of the younger generations because they didn't want to do it themselves.  Cry me a river, you selfish a holes.


This. Not to mention that even the lower classes of wealthy countries enjoy even that standard mostly by exploitation of other nations' eagerness to sell labour, food, and other resources to us cheaper than we might normally be required to pay.

The very notion that in such an overpopulated world, with serious resource scarcity looming, any of us are entitled to the levels of opulence that......

Oh, never mind. I'm not blameless, it's so hard for us to truly sympathize... Empathy is more our style. It takes suffering to understand others'. But let us all eat cake and bask in the gleeful judgment of the prosperity gospel. Let the smug upper middle class be pitted against those lazy grasshoppers below them. Let those unfortunates who didn't plan eat cat food, even if they were naive enough to pay into promised benefits with changing goalposts their whole life, if not trapdoors. Let no job creator's honour be impugned.

After all, you got yours, and YOU really earned it.
 
2013-12-31 01:50:32 AM  

inclemency: IrishFarmer: So old people staked their plans on fleecing younger generations so that they could "travel", own multiple homes, and live the good life off of the work of the younger generations because they didn't want to do it themselves.  Cry me a river, you selfish a holes.

This. Not to mention that even the lower classes of wealthy countries enjoy even that standard mostly by exploitation of other nations' eagerness to sell labour, food, and other resources to us cheaper than we might normally be required to pay.

The very notion that in such an overpopulated world, with serious resource scarcity looming, any of us are entitled to the levels of opulence that......

Oh, never mind. I'm not blameless, it's so hard for us to truly sympathize... Empathy is more our style. It takes suffering to understand others'. But let us all eat cake and bask in the gleeful judgment of the prosperity gospel. Let the smug upper middle class be pitted against those lazy grasshoppers below them. Let those unfortunates who didn't plan eat cat food, even if they were naive enough to pay into promised benefits with changing goalposts their whole life, if not trapdoors. Let no job creator's honour be impugned.

After all, you got yours, and YOU really earned it.


I didn't ask for a system whereby we get cheap labor from other countries.  Boomers demanded a system where they could live a lifestyle beyond their means and then get their kids' money to keep living beyond their means.  Not the same thing.
 
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