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

To: Jim McMannis who wrote (108763)	2/23/2010 12:23:56 PM
From: axial	6 Recommendations Respond to of 116555

"People don't seem to distinguish between the public/municipal and private sector." True, some don't. But that's not the distinction that matters. What matters is when you go to unionized workers and say, "We want you to accept cutbacks." The workers see legislators with fabulous benefits and rising compensation. They see their tax dollars supporting thieves and incompetents, who have been rewarded for bankrupting the economy. They see CEOs (including their own management) being paid rock-star compensation for below-average results. They see these "leaders" feeding at the trough, and their logical question is "Why should I take less, when these guys are taking MORE?" To them, that's the distinction that matters. Jim