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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (72932)3/18/2010 1:29:06 PM
From: Snowshoe  Read Replies (2) | Respond to of 74559
 
>>declare bankruptcy<<

That's what I was trying to explain to Mq about gov employees in the US. The governments can't just arbitrarily cut pensions, but the ones in really terrible trouble can go bankrupt. Bankruptcy is the way to force concessions. That's how the auto makers were able to ditch their excess dealerships.



To: KyrosL who wrote (72932)3/18/2010 1:30:27 PM
From: Haim R. Branisteanu  Respond to of 74559
 
Well I do not think this is an excuse in this situation after all union leaders are no dummies - I think it is a cultural thing and lack of guts in the present government.

Just compare the pensions the former USSR countries pay out based on similar ideology as the Greeks ...

The sad part that the whole nonsense with Greece deflects the attention from the real gorilla going mad and this is the US budget deficit


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