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

To: mishedlo who wrote (108283)	2/14/2010 7:10:18 AM
From: Haim R. Branisteanu	Respond to of 116555

Trade War brewing? Message 26320011

To: mishedlo who wrote (108283)	2/14/2010 9:56:33 PM
From: niceguy767	2 Recommendations Respond to of 116555

It used to be that the security of public sector jobs provided the equilibrating perk between the lower paid public jobs and the higher paid private jobs. Over the past 1/2 decade this relationship has been turned on its head. Today, the huge inequity favouring public sector pay, (not to mention pension plan inequity), and private pay continues to grow unabated for the most part. Disequilibrium now exists between the public and private sectors...this Rhode Island smack down on the public sector entitlements may be a first. It may well set the stage for an avalanche of public sector smackdowns elsewhere. I mean how does one justify $72,000 for teachers, before benefits, in any community where average pay is some $50,000 less at $22,000. North America was built by people willing to take risks and suffer the outcomes when risks did not pan out as anticipated. There is little risk associated with most public service jobs in the sense of competition. Once one has gained a public service job, there is very little probability of ever losing that job either through competition or incompetence. Public "servants" (what a misnomer give their entitlements!) just don't get fired. Well, today union entitlement has now suffered a potentially mortal blow in Rhode Island. The rest may come quickly!