The Pen is mightier than the sword, but the Pen must sometimes move the sword against corruption if the corrupt are not moved by the pen.. An idea without an implementer is useless. "The Rulers do not carry the sword in vain"Rom 13:4

Thursday, February 13, 2014

Detroit dashes Pension hopes!

We can all go to the circus called "Detroit in downward motion" where we can witness mind numbing stunts of high flying irrationality, and the swings and roundabouts populated by perishing but persistent people.

The city is broke.

Let's unpack this layer by layer

Layer 1: One major source of their bankruptcy is.. unfunded pensions.
Layer 2: That was caused by successive governments NOT putting away sufficient funds for them.
Layer 3: The reason they didn't do this, was short term junk promises that were entirely about just one thing... getting elected and keeping power.

That's enough layers for now, but understanding the problem is not the same as fixing it. To 'fix' it, you have to be just as guilty in the restoration as they were in the ruination!

Kevyn D. Orr, the city’s emergency manager, has called for “significant cuts” to the pensions of current retirees. His plan is being fought vigorously by unions that point out that pensions are protected by Michigan’s Constitution, which calls them a contractual obligation that “shall not be diminished or impaired.” 

Notice how the Unions are adamant that the impossible must be made possible? They insist that money grow on trees, fall from the sky, suddenly turn up under your pillow.. anything, as long as money appears magically from ....nothing.
Point out....till the cows come home for milking in 2050 ..but it won't change the flavor of the cesspool of stinking debt and reckless and callous irresponsibility that caused it.

FDR has some well chosen words for these Unions and their enablers in high political office..
"The reckless deeds of these unscrupulous money changers stand indicted in the court of public opinion and condemned in he hearts of the people"

I'll be honest.. I absolutely laugh with a very harsh tone of "I told you so"...not that it was me who actually told them how it would work out, but plenty of "me's" on the local level did I'm sure.
They were told....
They refused to listen....
Now they are broke......
Bugger them!

Every idiot who shamelessly followed their foul message of false hope against every whisper of conscience, deserves the hardship that their OWN choices now give them.   All these drongo's have done is fulfill and confirm the big brother like words of Walter Lippman who declared:

"the mass of the reading public is not interested in learning and assimilating the results of accurate investigation." Citizens, he wrote, were too self-centered to care about public policy except as pertaining to pressing local issues.

Ok, there's the rub.. self centred, short sighted, shallow thinking Lemming like following of stupid leaders who played on your ignorance.. well.. you made your bed...now lie in it. But if you want to actually fix this tragedy, just get used to the idea that if there's only 10c in the kitty, that's all you can spend.

Wait!......let's just place our stupidity on the already sagging shoulders of the rest of America..and ask the bankrupt Federal government to bail us out with money they don't have.. yessss...that might work.. for a microsecond!  But I'll guarantee these Unions will be expressing such thoughts. This is like a family saying.."hmm.. all that money we spent on the pokies means we can't pay our mortgage this month.. let's just ask our neighbour to pay it for us"

Vera Proctor, 63, who retired in 2010 after 39 years as a 911 operator and supervisor, said she worried that at her age and with her poor health, it would be difficult to find a new job to make up for any reductions to her pension payments.

“Where’s the nearest street corner where I can sell bottles of water?” Ms. Proctor asked wryly. “That’s what it’s going to come down to. We’re not going to have anything.”

No..that's not quite right Vera...YOU ALREADY don't 'have' anything...it's all debt, and guess who is to blame? YOU!

Ford's U.S. pension obligation was $52 billion at the end of last year, while GM's was about $82 billion.

GM was the first of the U.S. automakers to establish a pension plan in 1950 as part of the "Treaty of Detroit," a contract negotiated by legendary United Auto Workers union leader Walter Reuther. Ford and Chrysler followed suit.

Legendary? I'd call Reuther 'infamous'.  That treaty as Reuther later said.. "was just the beginning".... actually as the above figures illustrate, it was the beginning of....the END.
More Info about the Auto makers.

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