Global Economy Bursting?

[Austin]

http://news.yahoo.com/s/ap/20110217/ap_on_re_us/us_wisconsin_budget_unions

This is the beginning of the recovery if there is to be one. Public employee unions must go. If this passes a new day dawns. If it dies, it is more of the same.

 

[Riick]

http://news.yahoo.com/s/ap/20110217/ap_on_re_us/us_wisconsin_budget_unions

This is the beginning of the recovery if there is to be one. Public employee unions must go. If this passes a new day dawns. If it dies, it is more of the same.

Republican leaders said they expected Wisconsin residents would be pleased with the savings the bill would achieve — $30 million by July 1 and $300 million over the next two years to address a $3.6 billion budget shortfall.

And then only another 10 years to get rid of the entire $3.6 Billion deficit.
And the school teachers and other union workers who expect the State to come up with the money
to get rid of the deficit, and/or to pay for their retirements, health care costs, etc., etc. from SOMEWHERE,
as long as that's anywhere but from the union-member's pockets....???

Can they really be that stupid?​

Still, Austin, you're right. It all has to start somewhere, and it would be best if that happened in a Blue State.​

 

[Terrel L. Shields]

Looks like pushback will be the name of the game. They should hold out until the employees use up their sick leave then fire them if they don't go back to work. Reagan made an example out of air traffic controllers. Teachers are a dime a dozen right now, so they can be replaced and every 18 year old hotshot wants to be a fireman....we have dozens of wannbes on the auxillary force hoping for a full time opening. Fire them or simply slash the staffs to get the same results.

 

[Lloyd Bonafide]

Regarding public employee unions, who do you think wrote this?

"All Government employees should realize that the process of collective bargaining, as usually understood, cannot be transplanted into the public service."

http://www.presidency.ucsb.edu/ws/index.php?pid=15445

(FDR in 1937)

 

[Randolph Kinney]

Illinois Pension Bonds to Test Investors’ Faith

http://www.nytimes.com/2011/02/18/business/18illinois.html?_r=1&nl=todaysheadlines&emc=tha25

Selling $3.7 billion of bonds to make this year’s contribution to its pension fund. There is no money to fund pensions and there is not enough money in the fund to pay out at the current rate. The pension fund is so weak that a federal guarantee of the debt may be necessary to sell the bonds.

This state is truly heading into the financial abyss; no amount of taxation can save it.

 

[Randolph Kinney]

PIMCO Total Return Fund pares U.S. gov't-related debt

http://www.reuters.com/article/2011/02/14/us-pimco-totalreturn-holdings-idUSTRE71D47220110214


Liberty Mutual Says Deficits `Debase' Dollar; Bond-Holding Durations Cut

http://www.bloomberg.com/news/2011-...debase-dollar-bond-holding-durations-cut.html

 

[Randolph Kinney]

Greece vs. Wisconsin

http://online.wsj.com/article/SB100...6150111817428004.html?mod=WSJ_Opinion_LEADTop

They both have riots by public workers over wage and benefit cuts.

Who's next?

 

[Terrel L. Shields]

They both have riots by public workers over wage and benefit cuts.

and do what they have to do or face the consequences....I wonder if the states really have the stomach to "make the hard choices" we all know must either be made or face an unknown consequence in default...

Maybe a federal judge will simply wipe out their pensions and apply it to the debts...at best, if this fails, the state will be forced to default on bonds or lay off thousands. Then what are they going to protest?

And who is going to do business with them if the check will bounce... Cash of the barrel head chucko.. .You want that new firetruck? you want that new school? Payee for playee.

 

[Randolph Kinney]

and do what they have to do or face the consequences....I wonder if the states really have the stomach to "make the hard choices" we all know must either be made or face an unknown consequence in default...

Maybe a federal judge will simply wipe out their pensions and apply it to the debts...at best, if this fails, the state will be forced to default on bonds or lay off thousands. Then what are they going to protest?

And who is going to do business with them if the check will bounce... Cash of the barrel head chucko.. .You want that new firetruck? you want that new school? Payee for playee.

Nevada gave the unions and state works a choice; cut 15% in wages or lay off 15%. Guess what they chose?

 

[Randolph Kinney]

“World Bank: Global food prices are rising to dangerous levels”

“Sysco declares force majeure, raises grocery prices”

“The J. M. Smucker Company Announces Coffee Price Increases”

“Kraft warns on price increases”

“Kellogg says it will raise prices”

“Sara Lee to raise prices again on higher commodity costs”

“Bridgestone To Raise Prices”

“Goodyear will raise tire prices up to 6%”

“Allstate rates rise; patience with execs runs thin”

“State Farm wants 28 percent rate increase in Fla.”

“Blue Shield to delay Calif. health rate hikes [for only 60 days]”

“Wellmark [Midwest division of Blue Cross] Rate Hike Approved”

“Abercrombie & Fitch CEO says retailer will have to raise prices”

“Sprint bumps up its smart-phone data plans $10 a month”

“Xcel Energy customers to see rate hikes”

“Overall inflation is still quite low and longer-term inflation expectations have remained stable.” — Ben Bernanke, February 9, 2011