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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (66160)	6/13/2007 4:32:21 PM
From: ajtj99	Read Replies (2) \| Respond to of 116555

Skin, I believe the next pinch for the states will have lots of people looking at public employee compensation to be brought more in line with the private sector. For example, I don't know why fire departments must be staffed by public employees. It could be done by the private sector for about 30% less. Pensions, insurance, etc. all must be brought in line with private sector norms. Why should the average citizen pay for some civil servant to have their own special health coverage in retirement when most private sector employees only have medicare? The states are going to have to reform their compensation. It's ridiculous that governors of Illinois and New Jersey would rather sell off infrastructure and lotteries, sell bonds against future tobacco payments, and raid rainy day funds than tackle the real problems causing these budget shortfalls.

To: skinowski who wrote (66160)	6/13/2007 4:51:56 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 116555

skinowski; but the fact that public employees are evolving into a privileged class - of sorts. Yes, exactly! A huge privileged class that for the most part produces nothing. Are not their jobs secure? They can just up taxes - or fees - and so then how does that factor into the inflation picture? Do you see these fees and taxes - especially on state or local level - diminishing? So your local property taxes go up and up. Is that inflation? It's not creating more money as in Mish's inflation definition. Or maybe it is; is it the endless printing of money that allows for this "privileged class"? I can't get my mind around how that then eventually leads to deflation? steve

To: skinowski who wrote (66160)	6/16/2007 4:02:14 AM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 116555

skinowski, you sad it - wages are not up and you are working and trying to be creative. Wages are paid for work - but what about creativity? which produce all the benefits you mention - you do not get compensated for this the government is your partner and steals the creativity premium form you. The best is to compare the real payment (including benefits) to a governmental employee shuffling papers and charging from you fees and payments to a private sector employee who creates the wealth that the government takes from you / us by ever increasing government jobs and institutions. "My new car is better and safer, my 50" flat Panasonic cannot be compared to my TV of 25 years ago." that is because of creativity of the people toiling around the world in productive jobs. But the real benefits to your life standard is minuscule. Just think about this subject this way; - how much quality time you have with your family now as compared to 25 30 years ago yes with more expensive pants and shirts? What matter more to life? cheap pants TV and computers or one more hour enjoying your hobby, friends and family every day