IS THIS SCENE COMING TO THE PLACE WHERE YOU LIVE?
CAN THE RIGHTIES IN CHARGE OF THESE PLACES PULL THIS THING OUT OF THE FIRE?
WILL SOME OF “THEM” RECEIVE INSTRUCTION ON HOW TO FIX THINGS FROM GOD HIMSELF?
As the affluent Right Wingies who tend to try to run things sit down to their Chateau Briand flamed at the table with a high-quality aperitif before eating . . . they should probably remember their own advice when dealing with the reported shortages in Detroit’s pension funding.
I remember when some of them were debating the issues surrounding privatization of Social Security.
Yes in that discussion some of them were more than excellent master-debaters!
The idea some of them were proposing was to invest the funds accumulating in the Social Security Reserve in the common Stocks and Bonds . . . (Money Markets) . . . on Wall Street and let the American Economic Engine fuel the stability of the system and any increases in gains for the beneficiaries.
It is a great idea when the Economy is stable or growing . . . I kid you not!
I think it would be a disaster when the Markets slide . . . as they have been known to do.
But I think the idea of putting the pension funds into the money markets is also like some Radical Rightie dressed in too-tight-fitting underwear, sitting at a roulette wheel somewhere in Vegas . . . throwing fistfuls of Taxpayer Cash onto the betting rectangle . . . waiting for a favorable spin of the whirring . . . purring . . . cash grabbing croupier in the middle of the action.
Whoops . . . another billion or so down the crapper!
Nobody knows where!
So my question is this:
“If the Righties in charge of looting bankrupt and financially distressed cities are so hot on making sure pension plans are adequately funded why don’t they simply require unions to take what millions of dollars they are collecting in dues every month and slam dunk them into the Stock Markets . . . the same as was suggested for Social Security?
If there is any credibility at all to any kind of Conservative fiscal policy here would be one helluva imaginative . . . constructive . . . colorful way for someone sustaining themselves from the slop troughs of the Great Right Wing Radical Hog Farm to prove . . . once and for all . . . beyond any shadow of doubt . . . that some kind of Right Wing financial whing-dinging would actually work to somebody’s benefit . . . somebody other than only . . . exclusively . . . the 1% at the top of the heap . . . right?
Is there actually a pragmatic difference between collecting union dues from members and what they are calling a “defined contribution” plan?
I have no clue about what is going to happen to the unions in the City of Detroit or to the unions in 120 or more other American cities that are reportedly in similar circumstances to those of the “Motor City.”
I do suspect that what is being proposed for the unions in Detroit will serve as a model of what might be done in other cities . . . and because it is a model arising out of the genius of the Right Wing . . . I do not particularly trust it to do anything positive for anybody but maybe the 1% who live at the top of the fiscal food chain.
It seems so strange to me that a huge American City now finds itself under total control and domination by an “appointed” . . . (not elected) . . . “Emergency Manager” who reportedly even has total power over the actions of those that were elected into positions of City Government.
In other words . . . I understand that no matter what the duly elected Mayor and Council Members of this great city say . . . the individual “appointed by the governor of the state” can over-ride them no matter what.
How “Constitutional” does that sound to you?
The Right is always blowing off steam about how everything should be done according to the Constitution.
So I ask again, “How Constitutional” is the Detroit situation . . . and will that same situation be replicated in other cities under financial stress . . . where there are Republicans in control of the state houses?
I don’t have any answers.
Right now . . . when I am talking about this Detroit thing I am exactly like a Right Winger usually is . . . I can worry about what is happening . . . I can complain about what is happening . . . . but the only solution I can even venture to suggest is that somebody in power in these areas return the decision-making authority to those who were elected by The People so that the governmental system can function again the way the Founders of the Nation and the Framers of The Constitution intended for it to function.
Why should I not believe that with proper management and a little luck with the national financial situation . . . and we definitely are in recovery mode now . . . the whole “Bankruptcy” scene in Detroit and elsewhere is totally unnecessary at this point in the game?
Or . . . maybe I am off the wall about all of this and don’t understand a damned thing about what is going on up there.
If that is the case then if somebody will show me where I am off base I will be first to admit my error.
If someone who knows what the Hell they are talking about can show me how what is happening in these “Emergency Manager” scenarios is “Constitutional” then I will certainly look in another direction and start re-evaluating my views on such matters.
Until then . . . how about the idea of putting the pension funds into the Money Markets on Wall Street?
Is that a plan or not?
I don’t think it is.
But then what do I know?
What do my readers think?