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

To: Crimson Ghost who wrote (83573)	8/21/2008 10:23:19 AM
From: John Carragher	Read Replies (1) \| Respond to of 116555

maybe its in the numbers of municiple workers. usually their medical plans are fully paid, generous vacation plans, pensions that have cola increases tied to them and no state income tax on their pensions. Usually these jobs grow from one position to perform a job required by one worker.. to several positions for the same amount of work. tax payers should revolt.

To: Crimson Ghost who wrote (83573)	8/21/2008 11:51:42 AM
From: ajtj99	Read Replies (2) \| Respond to 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.