Page 1 of 2 12 LastLast
Results 1 to 10 of 12

Thread: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

  1. #1
    Sage
    lpast's Avatar
    Join Date
    Mar 2011
    Location
    Fla
    Last Seen
    05-21-16 @ 10:12 PM
    Gender
    Lean
    Independent
    Posts
    13,565

    Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    He is an unlikely Jeremiah, a funds manager in a pinstripe suit with a résumé that includes a stint as chairman of the Federal Reserve Bank in Richmond, Va. Yet Thomas Mackell Jr. is warning of a future in which the homeless elderly live under bridges and the old and the young engage in “intergenerational warfare” over disappearing jobs.

    Where are the jobs? Sent to China by our dear corporations for a few bucks more. Thanks Alot.

    If something doesn’t happen soon, this country will go the same way as every other empire,” said Mackell. Citing the growing income gap between rich and poor, the deterioration of infrastructure, and, most of all, the problems facing the 77 million aging members of the Baby Boom, the financial funds manager called America’s prospects “abysmal.”

    “What he had to say was pretty frightening,” said Jack Brennan of Hillsdale, chairman of the Association of BellTel Retirees, a group with 112,000 members throughout the country.

    “But his purpose wasn’t to scare us, but rather to energize us into taking action.”

    The action — protecting pension benefits and health care for retirees. “We have to keep fighting for what we fought for years ago,” Brennan said.


    America' working class is waking up to this teaparty assault by the richest americans

    Braun: Expert with ties to N.J. says if pensions aren't protected, nation will suffer | NJ.com

  2. #2
    Guru

    Join Date
    Jun 2006
    Location
    Oaxaca, Mexico
    Last Seen
    12-14-17 @ 09:40 AM
    Gender
    Lean
    Conservative
    Posts
    3,579

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    "The action — protecting pension benefits and health care for retirees. “We have to keep fighting for what we fought for years ago,” Brennan said."

    And, do we do that by requiring businesses and unions to fully fund pension plans? Oh, hell, no. They're tapped out bribing politicians. We "protect" pension plans by putting the soon-to-be-minority, taxpayers, responsible.

  3. #3
    Sage
    lpast's Avatar
    Join Date
    Mar 2011
    Location
    Fla
    Last Seen
    05-21-16 @ 10:12 PM
    Gender
    Lean
    Independent
    Posts
    13,565

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    Quote Originally Posted by Patrickt View Post
    "The action — protecting pension benefits and health care for retirees. “We have to keep fighting for what we fought for years ago,” Brennan said."

    And, do we do that by requiring businesses and unions to fully fund pension plans? Oh, hell, no. They're tapped out bribing politicians. We "protect" pension plans by putting the soon-to-be-minority, taxpayers, responsible.

    Business is doing fabulous on the backs of the workers...GE 14 billion profit NOT A DIME IN TAXS...go sing your song on broadway patrict its a broken record that no one believes

  4. #4
    Sage

    Join Date
    Sep 2010
    Last Seen
    Today @ 10:31 AM
    Lean
    Undisclosed
    Posts
    90,025

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    Thank for this article lpast.

    I found this part to be most enlightening:

    What’s worrisome about Mackell is his ability to see the future. Years ago, he predicted unemployment would top 9 percent, states would take bargaining rights from public employee unions, and Congress would seriously consider cuts in Social Security and Medicare benefits — all ideas that seemed over the top then.
    I will make a prediction of my own: Mackell will be the object of ridicule and scorn by the right wing who are hell bent on destroying unions, destroying most of government, and destroying America as we know it returning us to the Gilded Age. Mackell is swimming upstream against a right wing very strong current that does not want to hear about the nightmare that will be at the end of their wet dreams.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  5. #5
    Sage
    Lord Tammerlain's Avatar
    Join Date
    Jan 2010
    Last Seen
    Yesterday @ 11:06 PM
    Lean
    Undisclosed
    Posts
    10,432

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    Quote Originally Posted by Patrickt View Post
    "The action — protecting pension benefits and health care for retirees. “We have to keep fighting for what we fought for years ago,” Brennan said."

    And, do we do that by requiring businesses and unions to fully fund pension plans? Oh, hell, no. They're tapped out bribing politicians. We "protect" pension plans by putting the soon-to-be-minority, taxpayers, responsible.
    Actually pensions defined pensions are insured by PBGC


    The PBGC is not funded by general tax revenues. Its funds come from four sources:

    Insurance premiums paid by sponsors of defined benefit pension plans;
    Assets held by the pension plans it takes over;
    Recoveries of unfunded pension liabilities from plan sponsors' bankruptcy estates;[4] and
    Investment income.
    Pension Benefit Guaranty Corporation - Wikipedia, the free encyclopedia
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

  6. #6
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    12-15-17 @ 10:49 AM
    Gender
    Lean
    Conservative
    Posts
    76,323

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    Quote Originally Posted by lpast View Post
    He is an unlikely Jeremiah, a funds manager in a pinstripe suit with a résumé that includes a stint as chairman of the Federal Reserve Bank in Richmond, Va. Yet Thomas Mackell Jr. is warning of a future in which the homeless elderly live under bridges and the old and the young engage in “intergenerational warfare” over disappearing jobs.

    Where are the jobs? Sent to China by our dear corporations for a few bucks more. Thanks Alot.

    If something doesn’t happen soon, this country will go the same way as every other empire,” said Mackell. Citing the growing income gap between rich and poor, the deterioration of infrastructure, and, most of all, the problems facing the 77 million aging members of the Baby Boom, the financial funds manager called America’s prospects “abysmal.”

    “What he had to say was pretty frightening,” said Jack Brennan of Hillsdale, chairman of the Association of BellTel Retirees, a group with 112,000 members throughout the country.

    “But his purpose wasn’t to scare us, but rather to energize us into taking action.”

    The action — protecting pension benefits and health care for retirees. “We have to keep fighting for what we fought for years ago,” Brennan said.


    America' working class is waking up to this teaparty assault by the richest americans

    Braun: Expert with ties to N.J. says if pensions aren't protected, nation will suffer | NJ.com
    Start a company then, and hire all those Americans and do it differently.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  7. #7
    Sage

    Join Date
    Sep 2010
    Last Seen
    Today @ 10:31 AM
    Lean
    Undisclosed
    Posts
    90,025

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    Quote Originally Posted by American View Post
    Start a company then, and hire all those Americans and do it differently.
    Now why did he not think of something so obvious, so simple and so easy to do to cure all that ails the American economy?
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  8. #8
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    12-15-17 @ 10:49 AM
    Gender
    Lean
    Conservative
    Posts
    76,323

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    Quote Originally Posted by haymarket View Post
    Now why did he not think of something so obvious, so simple and so easy to do to cure all that ails the American economy?
    Stop you bellyaching, it is that simple. Start a ****ing company and show us how you do it better than those other mean ole nasty companies.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  9. #9
    Bring us a shrubbery!
    tessaesque's Avatar
    Join Date
    Apr 2011
    Location
    Plano, Texas
    Last Seen
    11-09-17 @ 06:18 PM
    Gender
    Lean
    Other
    Posts
    15,910

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    How about people try living within their means and saving/investing for their retirement instead of expecting a paltry deduction from their paychecks to cover them for 20+ years of "comfortable" retirement?
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


  10. #10
    Sage

    Join Date
    Sep 2010
    Last Seen
    Today @ 10:31 AM
    Lean
    Undisclosed
    Posts
    90,025

    Re: Expert with ties to N.J. says if pensions aren't protected, nation will suffer

    Quote Originally Posted by American View Post
    Stop you bellyaching, it is that simple. Start a ****ing company and show us how you do it better than those other mean ole nasty companies.
    A perfect solution to a national problem.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •