Perry Glasser

Archive for August 15th, 2011|Daily archive page

SCREW THE FIREMEN

In Business, Economics, Economy, EDUCATION, Finance, Politics, Wall Street on August 15, 2011 at 8:33 am

Screwed

Over in Rhode Island, a bankrupt municipality is trying to cut benefits to cops and firemen, but will pay bondholders in full. If a municipality goes broke, Weasels have ruled that Wizards get paid first!

The place is called Central Falls.  You might want to write the city council a letter. Try not to throw-up when you note the town’s motto: “Never Doubt that a small group of thoughtful citizens can change the World.”  They are quoting Margaret Meade, the famed anthropologist. They are screwing cops and firemen.

Dollar$ tries, but could not make this stuff up.

Weasels write the rules; Wizards create the vehicles; Buccaneers reap profits; Citizens get screwed.

No one blushes.

This national scandal will spread across the US as borrowing rates climb.  In Alabama, after 14 months without pensions, pensioners with 20 – 30 years on the job had their benefits cut from $1,000 per month to $350. The town is being sued, of course. Their legal strategy seems to be to delay and hope for petitioners to die.

Perfectly legal. Pensioners are by federal bankruptcy law defined as unsecured creditors, whereas banks and others are secured.

Your best strategy?

  • Never get sick.
  • Never grow old.
  • Never stop working.
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DOLLAR$ LOVES WARREN

In Business, Economics, Economy, EDUCATION, MILITARY, Politics, TAXES, Wall Street on August 15, 2011 at 6:39 am

It is an easy reflex among Dollar$’s  progressive friends to just assume that wealth curdles the soul and we are forever engaged in perpecual class warfare.

Responsible and rich

Warren Buffet, CEO of Berkshire Hathaway, “The Sage of Omaha,” stands as a role model, a man who understands that with great wealth comes great responsibility, a testimony to the fact that extremism is the refuge of the moronic, while good sense is not the exclusive property of the poor.

Buffet is a Citizen who makes his money by investing. He seeks no special treatment; he is no Buccaneer.

In his opinion piece in yesterday’s New York Times, Buffet calls for higher taxes on the rich, correctly noting that “Back in the 1980s and 1990s, tax rates for the rich were far higher, and my percentage rate was in the middle of the pack. According to a theory I sometimes hear, I should have thrown a fit and refused to invest because of the elevated tax rates on capital gains and dividends. I didn’t refuse, nor did others. I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain.”

Bravo Buffet!

Are any DC Weasels listening?