Massive Taxpayer Backlash Over Pension Crisis Is Coming

Unions Are The Problem

Unions are half the problem. The other half of the problem is bureaucrats caving in to Union demands. It is insane for 57% of money being spent on police and fire services to be for pensions. I am hoping such contracts get voided. One way to do it by municipal bankruptcies.

Ridiculous unions contracts caused the bankruptcy of Vallejo, California. Please see Surge In Municipal Bankruptcies Coming for more details.

Defined benefit plans must go. Taxpayers simply cannot afford the burden.

via Mish’s Global Economic Trend Analysis: Massive Taxpayer Backlash Over Pension Crisis Is Coming.

A great point: everyone is to blame for pension costs and liabilities. Unions for insisting on rediculous pension benefits and early retirement and administrators for giving in. Both sides have blithely ignored the issues for years as liabilities piled up. A couple of healthy bankrupcies would help the average department reconsider their positions.

Government Bailout of the Adult Entertainment Industry

Adult industry leaders Flynt and Francis sent a joint request to Congress asking for $5 billion in federal assistance, “Just to see us through hard times,” Francis said. “Congress seems willing to help shore up our nation’s most important businesses, we feel we deserve the same consideration. In difficult economic times, Americans turn to entertainment for relief. More and more, the kind of entertainment they turn to is adult entertainment.”

But according to Flynt the recession has acted like a national cold shower. “People are too depressed to be sexually active,” Flynt says, “This is very unhealthy as a nation. Americans can do without cars and such but they cannot do without sex.”

via Hustler’s Larry Flynt and Girls Gone Wild CEO Joe Francis Ask for Government Bailout of the Adult Entertainment Industry. “see us through hard times” indeed!

A Sign of the Times

Seen at a local Kirkland’s store that is most likely going out of business.

Some manager most likely decided that they needed a bullhorn, purchased it with company money, and is now trying to sell it on the floor …and it has already been marked down once. Demand destruction is going to wreck havoc on any company relying on yuppie purchasers and housing decor or supplies.