States Enter Next Round of Public Pensions Fight - News and Current Events | futures io social day trading
futures io futures trading


States Enter Next Round of Public Pensions Fight
Updated: Views / Replies:1,033 / 6
Created: by Quick Summary Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

States Enter Next Round of Public Pensions Fight

  #1 (permalink)
Quick Summary
States Enter Next Round of Public Pensions Fight

While almost everyone agrees that state pension funds have enough money to pay current retirees, taxpayers and investors in the $2.9 trillion municipal bond market are increasingly nervous about how they will cover future costs.

More on CNBC...

Reply to share your thoughts on this current event.

 
  #2 (permalink)
Fortitudo et Honor
Austin, TX
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
 
Posts: 882 since Mar 2011
Thanks: 128 given, 703 received

Once again, we see the real detriment of collective bargaining and social labor policies.

It's not necessarily a productivity issue or a benefits issue (although you could make some very convincing arguments that non union workers are more productive and at lower wages/benefits).

No. The real drawback to collective bargaining and legacy costs for pools of employees is the severe decrease in agility.

A company or entity sets it's policies nearly in stone with respect to bargaining agreements or pension benefits and when the market changes, the policies exhibit an extraordinary amount of inertia.

Essentially, for government unions and "groups" receiving pensions and such, when the tax revenues decline, it's politically untenable to reduce benefits.

The result is a smooth, more averaged line with respect to benefits, while the revenues/expenditures follow a more volitile and rough path. The taxpayer ends up covering the underwater portion and the employer ends up in debt trying to honor agreements that were almost certainly negotiated during the "best" revenue periods.

In essence, the union becomes a self defeating virus. It constantly renegotiates during good times, and resists renogatiation during bad times....knowing that wages and benefits is largely a "ratchet" concept. It's very difficult to cut pay and benefits (or even positions).

Take a look at the United State Postal Service and you'll see an almost textbook case study in why unions are company/government killers. The market changes abruptly (first class mail is no longer popular in the electronic age), and the result is that the company must make changes in order to stay competitive/solvent. However, the agreement is tantamount to a "contract" and not easily broken (without placing the company nearly in intensive care or out for the count).

Reply With Quote
The following user says Thank You to RM99 for this post:
 
  #3 (permalink)
Fortitudo et Honor
Austin, TX
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
 
Posts: 882 since Mar 2011
Thanks: 128 given, 703 received


One must also ask themselves why the Federal arm of the government severely limits collective bargaining and why the Democrats at the Federal level absolutely encourage it at the state level.

Why does Obama support unions and yet he freezes Federal government pay and wages?

Why? Power. The politicians realize that unleashing collective bargaining is to relenquish power to the unions. The Democrats at the Federal level know that unions at the state level is good, because they can still capitalize on campaign contributions and vote gathering, but still separated by a compartment wall. In essence, they do not have to negotiate with them, they simply support them from above and collect the benefits in $ and votes.

Reply With Quote
 
  #4 (permalink)
Trading for Fun
New Zealand
 
Futures Experience: Intermediate
Platform: Mac OS X
Broker/Data: MB Trading/AMP/LMAX
Favorite Futures: SL-1210 M5G
 
Posts: 72 since Jun 2011
Thanks: 2 given, 31 received

I don't have much to add as I am not part of the US, but I always enjoy reading peoples opinions on unions and renumeration and collective bargaining.

To me it is interesting how people draw conclusions and thus opinions from their surroundings.

Reply With Quote
 
  #5 (permalink)
Fortitudo et Honor
Austin, TX
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
 
Posts: 882 since Mar 2011
Thanks: 128 given, 703 received

Collective bargaining is little more than legalized extorition. They get you pregnant, and once you're in a position where you're stuck with them, then they stick it to you.

I'm very in favor of employee owned companies. There's absolutely NOTHING wrong with a group of employees banding together to start their own venture. But coercing a company to acquiesce to employee benefits and wages is not only reprehensible, it's counter productive in the long term.

It's literally a business killer.

There are some VERY successful employee owned companies.

Reply With Quote
 
  #6 (permalink)
Fortitudo et Honor
Austin, TX
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
 
Posts: 882 since Mar 2011
Thanks: 128 given, 703 received

Ponder this....

If a business partners with a vendor/supplier and has a successful venture.....they both form an agreement, (purchase order, contract, etc) for the vendor to supply materials at a certain price.

After a successful stint, the vendor/supplier realizes that it is in a leveraged position. The client(business) is heavily dependent upon the vendor at this point, there are efficiencies that have been developed, relationships established, warranties, etc, etc, etc.

The vendor decides to make a business decision and increase his price (and margins), anticipating that the business will have to suffer greatly in order to decline and seek other suppliers.

Because the contract/agreement is expired, the business is now free to say no and seek other partners. (even though it will create a certain amount of business pain to do so).

There's nothing wrong with this scenario.

NOW, compare that to a union/collective bargaining arrangement. Unfortunately, for the business that commits to a CBA (collective bargaining agreement), NOW the business is stuck. Because even the business decides to not continue or renew the CBA....the union has mountains of legal obstacles that it can employ to force the business to renew....delays, suits, arbitration, mediation, etc, etc, etc.

Essentially, the current law in many states makes signing up with a union a forever deal.

Reply With Quote
The following 2 users say Thank You to RM99 for this post:
 
  #7 (permalink)
Fortitudo et Honor
Austin, TX
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
 
Posts: 882 since Mar 2011
Thanks: 128 given, 703 received

Under Obama, there's been an ENTIRELY pro union assault on the current laws.

The current law requires that 50% of a group of similarly employed workers vote to have a union formation. THEN, there's a campaigning period where the Union and the Employer get to present their reasons as to why they should elect to form or not form a union.

Obama and the union extortionists, would seek to eliminate this campaign period. They want for there to be a 50% vote and that's it, union formed.

So imagine if you'd built a company from the ground, worked half your life to establish your business and make it successful.

Now, in comes in a slimy Union rep whispering in workers ears about how they can unite and negotiate better pay and benefits from you.

Under the current law, you don't even have the option of simply saying "no." You HAVE to go through the entire process, and you STILL don't have the option to decline if the workers elect to form a union. It's not even like you can burn the whole business to the ground and bust it up. The union can sue you.

Unions don't care about the long term health of a company. They care about the long term health of their EMPLOYEES.

So ask yourself....why wouldn't there be a push to start employee owned companies? Because the fact is that it's not a tenable strategy. If a group of workers had the necessary skills, resources, connections, relationships, to start their own business they would. AND it's much easier to band together and extort money from someone who's already DONE all that work.

Reply With Quote
The following user says Thank You to RM99 for this post:

Reply



futures io > > > > States Enter Next Round of Public Pensions Fight

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Irish gov raids PRIVATE pensions kbit News and Current Events 43 May 16th, 2011 10:21 AM
Using IQ feed to enter vs brokers feed to enter auto FX trades Stem1 Currency Futures 3 March 4th, 2011 09:24 PM
More States Starting to Target Public Employees to Cut Costs Quick Summary News and Current Events 0 February 18th, 2011 01:00 PM
Battle Looms Over Huge Costs of Public Pensions Quick Summary News and Current Events 0 August 7th, 2010 06:40 PM
Public site statistics Big Mike Feedback and Announcements 0 January 3rd, 2010 02:50 AM


All times are GMT -4. The time now is 07:17 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.12 seconds with 19 queries on phoenix via your IP 54.226.113.250