542thruNthru
Well-Known Member
Do you think millions of union Brothers and sisters being able to count on their pension is a bad thing?
Cost Of Living Raise
- Thread starter Wally
- Start date
I find the government bailing out a corrupt private business a bad thing
meritocracy
Well-Known Member
We can fight harder in the future to make sure it doesn't happen again. I'm not okay with us screwing over our retirees who worked their lives away just to make a point. Plus it makes it a lot harder to sign people up in right to work states and organize new workpalces. Why be a union member if you can't expect a pension when you retire?
DELACROIX
In the Spirit of Honore' Daumier
Here is another point of view about this bail out. Maybe just maybe the Feds had some blame for these underfunded pension plans, labor laws have always favored corporations and companies for example the Feds provided an out for all those freight companies to declare bankruptcy and to restructure in the Central. UPS always had control over he part timers pension funding, when they were gutting full time jobs back in the day and replacing them with three part timers they knew they were eliminating further funding for the Central.
There is plenty of blame to go around...
You're correct about that on one thing were many times laws was passed so they could change their accounting methods they use for funding the pension funds
I don’t care about what might have happened,the government needs to stay out of bailing out private companies with tax payer money.....period
DELACROIX
In the Spirit of Honore' Daumier
That bail out money is actually going into the federal agency called the PBGC, it’s sole purpose is to insure private and multi employer pensions. These underfunded pension trusts have to apply
for the forgivable loan, I read somewhere that it maybe a year or more before the funds are released.
I believe that the retirees will start getting checks from the PBGC instead of their pension plans. The fine print would be interesting though, I expect that the Feds will be more involved with the running of these trusts and the corporations and companies that contribute into those pension plans.
The Pension Benefit Guaranty Corporation (PBGC) operates solely from premiums collected from existing pension plans on a per member per month basis. No general taxpayer money goes to the PBGC currently. That will change soon.
PBGC assists failed plans and those plans then distribute benefits to their members.
Private plans and multi-employer plans are operated separately. Over 5000 private single employer plans have failed (23.5%) and are in distress and receiving aid, compared to 90 multi-employer plans (10.9%) at this time.
The PBGC is under directions to have preparations ready by July 2021to aid troubled pensions.
The PBGC is headed by Gordon Hartogensis, who was appointed after the Obama appointee was removed during his 5 year term of office.
Hartogensis had no prior experience or involvement with any pension plan prior to his appointment, but he is Mitch McConnell's brother in law.
And we wonder how anything positive ever gets done?
Wally
BrownCafe Innovator & King of Puns
The Price of the Stuff That Makes Everything Is Surging
(Bloomberg) -- The prices of raw materials used to make almost everything are skyrocketing, and the upward trajectory looks set to continue as the world economy roars back to life.From steel and copper to corn and lumber, commodities started 2021 with a bang, surging to levels not seen for...
Wally
BrownCafe Innovator & King of Puns
Worthless? Check out the list of rising prices:
Get Ready For The Most Painful Inflation Since The Jimmy Carter Years Of The 1970s | SHTF Plan
If you are too young to have been alive during the 1970s, you might want to read up on that decade, because current economic conditions are starting to become eerily similar to what we experienced back then. In the 1970s, an energy crisis caused tremendously long lines at gas stations all over...
www.shtfplan.com
Trailer monkey
Well-Known Member
They always make it out like Carter caused the high inflation when in fact he prevented it from being far worse.Worthless? Check out the list of rising prices:
Get Ready For The Most Painful Inflation Since The Jimmy Carter Years Of The 1970s | SHTF Plan
If you are too young to have been alive during the 1970s, you might want to read up on that decade, because current economic conditions are starting to become eerily similar to what we experienced back then. In the 1970s, an energy crisis caused tremendously long lines at gas stations all over...
Wally
BrownCafe Innovator & King of Puns
It was really tough in that period.
104Feeder
Phoenix Feeder
Worthless.Worthless? Check out the list of rising prices:
Get Ready For The Most Painful Inflation Since The Jimmy Carter Years Of The 1970s | SHTF Plan
If you are too young to have been alive during the 1970s, you might want to read up on that decade, because current economic conditions are starting to become eerily similar to what we experienced back then. In the 1970s, an energy crisis caused tremendously long lines at gas stations all over...
Sissy Brown Short Shorts
Well-Known Member
Weren’t houses in the high teens low twenties as well? I bought my house while I was still a cover, couldn’t even prove full time employment on my pay stubs and they handed me a 250k loan on 3.5% interest. Fixed with no mortgage insurance.
Sissy Brown Short Shorts
Well-Known Member
Japan has had decades long stagnation since 1990. They called it the lost decade and employment ice age. They call it the lost thirty now because it’s still a slow slog upwards. Much like Obama’s terrible recovery.
Sissy Brown Short Shorts
Well-Known Member
He made it all better by putting those dumb solar panels on White House roof.
What'dyabringmetoday???
Well-Known Member
Must have been a pretty nice shack at that price.
Trailer monkey
Well-Known Member
2009 unemployment 10% 2016 unemployment 4.9%, March 2009 DJIA 9400 Oct 2016 18000, Yeah just like Japan LOL!!!!
Wally
BrownCafe Innovator & King of Puns
Prices are rising everywhere you look
Everywhere you look, there are headlines about higher prices.
www.cnn.com
