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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Pogeu Mahone who wrote (13759)	2/25/2013 9:54:40 PM
From: Yorikke	7 Recommendations Read Replies (3) \| Respond to of 33421

We are not talking about 'being safe' we are talking about not being ripped off of our life's investment. Other financial mass hysteria were self limiting as the government generally restricted its participation. Where government has played a major part (Germany post WWI, Rome cira 600, Zimbabwe) in foisting the hysteria on the populace the results have been far worse than a few cans of hard currency providing safety. We are seeing a major shift in our national psyche with people willing to believe anything if in the end the 'authority' promises it will be OK. An example: A local hospital sold its facilities and 'down sized' but as part of the deal it kept the retirement plan. It assured all the participants that every thing was ok as they had 'kept control of the plan'. What they didn't point out to the staff, but many could see, was that the 'plan' was primarily a liability to pay a growing pool of retirees, while the active worker participation had just been cut by 50 percent. (Step one). After the dust settled, and the retirement plan was gutted in the 2008 down turn, the management run by hellions in habits, declared an end to the vested retirement plan, (don't worry you will get what's coming to you.) and put everyone on minimally contributed 401K plans. (Step two). There have recently been rumblings of the vested retirement plan being near collapse as the 'returns' have not been 'sufficient' in these 'hard times'...who could have known? At no point have the paid management or the financial scum that looted that plan taken any grief. I was forced to sit through a meeting where a bunch of non too bright but very dedicated care givers were told they had to bend over and take it, by a minion of the almighty. I don't know if it was disbelief on the faces of the general staff or just incomprehension. It was a squalid affair, watching these women being forced to watch a game of three card Monte with their hard earned funds. And when the shell was lifted? Well like a 'Hair Fair Carny game', they were cozied up to by one of the game's shills, and set up to be fleeced of a portion of next year's wages. When it ends, which it must, the Operators will have raided the Credit Union, the Pension fund, mortgaged or sold the assets of the charity, and paid themselves off in very high salaries, while reducing the standard of care for hundreds of thousands of people. And they will defend this by mutually asserting they are among the best and the brightest. There won't be any seats left because these ponzi games are government supported and the operators won't declare 'gigs up' until they have sold the chairs and owe rent on the hall. By then they will have disappeared into the night. leaving people who have dedicated their lives to helping others, with a book length list of unfulfilled promises.