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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Crimson Ghost who wrote (83573)8/21/2008 11:51:42 AM
From: ajtj99  Read Replies (2) of 116555
 
The overcompensation is primarily in the form of benefit packages, including defined pension plans, retirement after 25 or 30 years of employment, and paid medical expenses during retirement.

Basically Mish is saying the compensation of public sector employees, which used to be 5% above that of the private sector 8-years ago, should be brought back in line to that level rather than the current compensation, which is roughly currently about 60% above that of the private sector.
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