An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
U.S. Treasury rejects plan to cut Teamsters pensions: Special Master Kenneth Feinberg on Friday ... https://t.co/5mf4RsDkZk @MarketWatch— economy (@kritikki) May 6, 2016
U.S. Treasury rejects plan to cut Teamsters pensions: Special Master Kenneth Feinberg on Friday ... https://t.co/5mf4RsDkZk @MarketWatch
Since when do we need interest payments to finance retirees with dignity? Are you out of paradigm Matt?
Never going to happen Jeff
Never going to happen JeffDefeatism?
we have to accommodate savers Tom...
A haircut and a trip to the glue factory will take care of those teamsters ;)
we have to accommodate savers Tom...According to MMT, saving desire is accommodated by $NFA, not with interest rates. Savers get a free parking spot, not a paid one. If they want more return, then they should understand that they have to accept higher risk. That's capitalism, actually. No free lunches.
When pension funds stop investing with hedge funds and Goldies profits suffer as a result, we'll get a fiscal spending boost followed by higher rates and inflation faster than a sneeze through a screen door. You can hang your hat on it.
"no free lunches..."Well what is it when like Jeff says we should finance retirees who didnt save? Is that a 'free lunch'?Dont savers who defer present for future consumption deserve some additional compensation for their deferral?Not to mention that actuaries who have analyzed these pension funds have assumed some NON_ZERO risk free rate over time as THEY have been trained to expect... now monetarist morons think they can keep that same rate at zero for near a decade just when boomers start to retire and then this is supposed to HELP????Why not just use the present situation to instruct (not to mention help provision seniors...) instead of advocating a continuation of this monetarist moron ZIRP policy...
Well what is it when like Jeff says we should finance retirees who didnt save? Is that a 'free lunch'I said, no free lunches under capitalism. Free lunch is "socialism."If socialism, using interest rates as a distribution mechanism is silly because it is poorly targeted and inefficient. Predistribution is more suitable for socialism. which is what Jeff is proposing.
"Well what is it when like Jeff says we should finance retirees who didnt save? Is that a 'free lunch'?You mean poor people who can't afford to save due to unemployment or shitty pay checks? So your solution is: they should have saved? Great solution…
No I'm saying don't screw over all the people who were able to and did.... Most people probably thru employer/Union sponsored plans....
Why make them slaves to changes in the cb policy rate? Do fiscal transfer.
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