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Non-Tech : Kirk's Market Thoughts
COHR 164.26+6.7%Nov 28 9:30 AM EST
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To: Sun Tzu who wrote (12334)10/28/2021 6:15:43 PM
From: Kirk ©1 Recommendation

Recommended By
Lee Lichterman III

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Even more powerful than trade groups are unions, especially public employee unions in California.

The teachers are the biggest and they all OWN the governor and most of the judges that are elected.

There is no other way "the wisdom of the crowds" would let the average students from High School who didn't go to top colleges and get into high tech or finance retire in their early 50s at 60% of their final salary (if they work 30 years) while the people who were not smart enough to get good government jobs or high paying tech and finance jobs have to work until age 70, often at backbreaking jobs, to pay into Social Security that gives them a pittance in comparison.

The public union pensions are not even fully funded and their "bought and paid for politicians" will give them raises and hire more workers before they'll use the surplus taken with the 13.3% tax from the others to pay down the pension obligation.

So
  1. we have crony capitalism with Zuckerberg leading the charge to have "government" make tough new rules that his HUGE company can follow a lot easier than any new upstarts that might come along and replace Meta won't have the resources to follow.

    and

  2. we have public employee unions robbing taxpayers to fund obscene pensions while the cities struggle to hire enough cops and road repair crews.

I agree. Dr Ed Yardeni is a moderate Republican and could possibly be a Libertarian. I respect his analysis greatly.
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