patrick.net

Democrats are warm water. The poor people, including poor blacks and poor Latinos, are frogs in that warm water. They feel so comfortable when the water warms up to the boiling point.

Wow, revistionist history much? So it wasn't white conservatives that concluded that "separate but equal" was viable under our Constitution? Jim Crow laws? Segregated seating and bathrooms? All pleasurable lifestyles for blacks until those filthy Democrats actually passed the Civil Rights Act of 1964. It's like you live in a white fantasy land.....

bgamall4 says

I know folks who make in the200k range

ALERT: NO ONE CARES.

bgamall4 says

Crap. I bet you work in finance somewhere. :)

That's why I'm able to ascertain that CalPERs is a zombie. :)

Well, Australia is ahead of the USA in net immigration. But look at Syria on emigration!
http://www.indexmundi.com/g/g.aspx?v=27&c=as&c=br&c=ei&c=sy&c=us&l=en
Didn't see a chart for states.

bgamall4 says

So, you have a vested interest in having private rather than public retirement accounts. I thought so. I work in thinking.

What is my "vested interest" Mr. Thinker?

My vested interest is not having to pay my share (as a taxpayer) of CalPERS' missing $20B in interest income this year.

The California pension system is a very scary thing. Promises have been made. Money's not really there, not with the transition to ZIRP and resulting loss of 8% risk-free yields.

If CalPERS was relying on that $20B of missing interest income this year (and they were of course), it stands to reason that it has to be made up with either higher employee contributions, cutback of benefits, or taxpayer money.

um, yeah. Oh, CalSTRS is in similar situation, but not quite as big (still a hundred billion dollar plus time bomb though, ~$8B of lost interest income this past year).

Washington State is looking better today, LOL.

bgamall4 says

just workers can contribute more to the fund

$20B more???

http://research.stlouisfed.org/fred2/graph/?g=cA8

shows total government payroll is around $150B . . . that's a 10%+ rise to make up the missing investment yields . . .

Face it bgamall, CalPERs is done as a solvent fund, or maybe bellingham bill is a "wall street interloper" just like me.

bgamall4 says

More private accounts.

I do think CalPERs risk should be privatized, and not socialized, like they are now.

Bellingham Bill says

My vested interest is not having to pay my share (as a taxpayer) of CalPERS' missing $20B in interest income this year.

you cant be missing $20B that you never had to begin with. But your short in the required pension balance. Thats the problem with a defined benefit pension .. plenty of bankruptcies in private sector to prove the point. And in todays near zero interest environment .. wont make it . Start packing !

bgamall4 says

Don't let the door hit you in the rear. I know folks who make in the200k range and they are doing pretty well.

Question is, can they do better in Texas?