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alstry (36.17)

As Technology Replaces Jobs...Soon Everyone Will Be Receiving Food Stamps

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August 22, 2011 – Comments (7)

U.S. becomes a food stamp nation, but is it sustainable?

Of course it is, and it will grow...otherwise the jobless will have to attack the rich if there are too few satisfactory jobs and they or their family is hungry.

7 Comments – Post Your Own

#1) On August 22, 2011 at 9:01 PM, alstry (36.17) wrote:

How will we deal with Zombulation...

Philadelphia extends curfew after flash mobs...

California teacher pension fund $56 BILLION short...

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#2) On August 22, 2011 at 9:50 PM, NOTvuffett (< 20) wrote:

Alstry is already receiving food stamps because he spends all day blogging the same stuff over and over, lol

 

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#3) On August 22, 2011 at 9:52 PM, NOTvuffett (< 20) wrote:

Don't be haters y'all.  Maybe he has OCD or something, lol.

 

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#4) On August 22, 2011 at 11:46 PM, UKIAHED (38.94) wrote:

LOL – did you do any due diligence?

California teacher pension fund $56 BILLION short...

Is a broken link – but in any event – is wayyyy outdated (I looked up the original article).  This is based upon a report of assets as of 6/30/10.  The assets this report  is based upon are $130 Billion.  Any checking would have shown that current assets as of 7/31/11 are $153 billion.  Wow – 1 short year and $23 Billion of that unfunded liability goes away!  And the unfunded liabilities are still 29 years away!

Hmm – I wonder what would happen if the companies these retirement investments are based upon actually make a profit…  wait – they do make money…

I’m sure the retirement funds have lost money in the last month  – but then again I’m also sure that they purchased more assets with additional retirement contributions.  I believe we call that dollar cost averaging…

 Anyway – I would comment on - U.S. becomes a food stamp nation, but is it sustainable?

But this link seems to be broken as well.  Maybe next time.

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#5) On August 22, 2011 at 11:54 PM, UKIAHED (38.94) wrote:

BTW – did you know that from 2001 to 2010 the State Teacher’s plan was actually putting 2% (of the 8% contributed) into a separate “IRA like” account for each member (which STRS paid a nice interest rate upon - 4.5%).  This was because the fund had too much money!  Now that they are not doing that (the entire 8% is going to the defined benefit plan), the unfunded liabilities should self correct.  Anyway – thought you should know…

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#6) On August 23, 2011 at 12:07 AM, alstry (36.17) wrote:

I know.....and you will too.....as the jobs evaporate, so will the pension funds, at a much faster rate than you ever dreamed..

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#7) On August 23, 2011 at 12:46 AM, UKIAHED (38.94) wrote:

as the jobs evaporate

Yeah – about that… 

California employers added just 4,500 new jobs last month, a steep drop from the revised 30,400 jobs added in June.

Adding jobs sounds quite the opposite of evaporation.  And California is 2nd from last state in job creation – go figure.

BTW - no furloughs for the state this year - very dire that...  what with all those state workers working full-time.

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