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	Forums ›› Main ›› Economics ›› US will go broke with the collapse of the dollar.

purchasing dollar drops 30%+ from current levels You do not have permission to vote on this poll.
within 1 year	0	0%
within 2 years	5	38.46%
within 5+ years	1	7.69%
dollar appreciates from current level for the next 5 years	7	53.85%
Total:	13 votes	100%

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jem

Registered: Sep 2001
Posts: 13999

03-11-12 06:13 AM

all these places in crisis have to do is cut their budgets and renegotiate with the unions.

The unions stole the money by buying of democrats... so now its time for them to give the money back.

No one really thought six figure retirements and bloated payrolls could last forever did they?

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TheAngryHermit

Registered: Dec 2007
Posts: 763

03-11-12 06:34 AM

Quote from the1:

Pensions for cities and states are unsustainable. I recently did a tax return for a retired firefighter and he's pulling in a 72k annual pension. Multiply that by every city/state employee and you are a recipe for disaster. My old man worked as a carpenter for 40+ years and his pension pays $18,000 per year. SS pays another 18,000 per year and his IRA provides the rest of his income. 18k per year is a reasonable pension. People need to take responsibility for their own retirement as my old man has. A 72k pension is absurd and unsustainable. In coming years these high pensions are going to have to be cut. Let the riots begin....

Never agreed more with a post on ET.

I mentioned the retired cop a few doors down before: 39 and retired! If he lives an average lifespan, he (or his do-nothing wife) will make more through his pension than he did through working! Outrageous.

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denner

Registered: Aug 2010
Posts: 3266

03-11-12 07:07 AM

Quote from TheAngryHermit:

Never agreed more with a post on ET.

I mentioned the retired cop a few doors down before: 39 and retired! If he lives an average lifespan, he (or his do-nothing wife) will make more through his pension than he did through working! Outrageous.

Yep, both of you guys are spot on. Realistically, how many people are we paying for the same job? At some point, it might be 3-4 guys on the pension plus the active duty officer. Multiply that across the country and it becomes crystal clear that every other service has to be cut to the bone just to make the "payroll" each month.

Even though the day of reckoning for the public sector might be a way's off, in the interim all I see is the ratcheting up off various taxes (property and many others), plus cutbacks in services. This should also be factored into the "inflation debate". Namely, all the idiots who continue to claim there is no inflation.

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denner

Registered: Aug 2010
Posts: 3266

03-11-12 07:10 AM

Quote from jem:

all these places in crisis have to do is cut their budgets and renegotiate with the unions.

The unions stole the money by buying of democrats... so now its time for them to give the money back.

No one really thought six figure retirements and bloated payrolls could last forever did they?

Of course, you are correct, BUT just look at what these unions have been trying to do with Scott Walker. It's impossible to underestimate how many of the politicians have been bought and paid for by the unions.

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SimpleTrades

Registered: Feb 2011
Posts: 1252

03-11-12 01:41 PM

Quote from sle:

GB: see, here, i buy gold coins so when the shit hits the fan, I'd be able to buy ammo for my guns and canned food!!
ME: you know, it would be way cheaper to actually buy ammo and canned food now and store it some place safe...

You could always melt your gold and make your own bullets!

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DollarBondsCL

Registered: Feb 2012
Posts: 107

03-11-12 01:56 PM

8 mil per just for Israel
Any questions?

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