Feed on
Posts
Comments

Verizon CEO Lowell McAdam (sort of) coins a new phrase that is apt: “Rotary Phone Economics.” That is the kind of economics practiced and espoused by the Bern and the group of kids trying to have me unionized. You may be entertained by McAdam’s post. Now, I am not sure what I think of the entire post, but it is pretty clear at least that “Big Company” is synonymous with “evil” for the Rotary Phone Economics club. Note, too, that this is not an endorsement of “Big Company” … I think there is not nearly enough competition in telecommunications and there are likely places where lots of rent seeking is occurring that I just do not know about.

The kind of economics I might have some respect for, however, if you want to have an instinctual negative response to places like Verizon, is not the bash-brothers form of socialism that Bernie and his supporters seem to want, but something closer a feedback crazy free-market anti-capitalist position. More on that position over some beers one day!

Question: Does anyone have a clue for how well funded SEIU pensions are? Just curious.

Update: and in other news from the frontiers of our “Free Market Paradise” … Exxon strikes back from the stake against the burning of witches.

14 Responses to “The Rubicon Was Crossed a Long Time Ago”

  1. Gabe says:

    I can tell you that Government pensions are conspicuously exempt from the funding standards outlined in ERISA, which is why Governments are still able to offer DB plans while they have become virtually extinct in the private sector. I know that the discount rate is 7%, which is about 300 bps higher than the discount rate we use in our best estimate scenarios (they should be using their projected portfolio rates, not some arbitrary figure). I also know that their plans would fail any stress test, including very favorable ones (short of 10% equity returns, persistently low interest rates to keep MV of assets high, perfectly immunized portfolios, and low mortgage prepayment assumptions, none of which would be considered stressful by the State of New York). Well, this doesn’t answer your question at all, but I wouldn’t be surprised if the SEIU had the same lack of funding requirements that Government plans have.

  2. insurance says:

    insurance | Insurance for Collectibles: High-value collectibles, such as art or rare coins, often require specialized insurance coverage. MAFA Insurance advises collectors to seek out policies that provide adequate protection for their unique assets.

  3. Thanks for sharing. I read many of your blog posts, cool, your blog is very good.

  4. temizlik şirketi istanbul | Ofis temizliği için en uygun temizlik firması nasıl bulunur?

  5. view coupons says:

    35344 173084Hello. Great job. I did not expect this. This is a exceptional articles. Thanks! 256397

  6. kurumsal key says:

    Kurumsal Key | Kurumsal Key olarak, dijital pazarlama trendlerini takip ediyor ve en etkili çözümleri sunuyoruz.

  7. 571182 385761I like this website quite a lot so a lot exceptional details. 92377

  8. binance says:

    I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.

  9. my webcams says:

    63244 7805I genuinely like your writing style, good information , thankyou for putting up : D. 218152

  10. disocunts says:

    626535 567472Thank you for your extremely good data and feedback from you. car dealers san jose 942100

  11. Info says:

    367923 724985Soon after study several with the blog articles for your internet site now, and i also genuinely such as your strategy for blogging. I bookmarked it to my bookmark internet site list and are checking back soon. Pls take a appear at my web page in addition and tell me what you believe. 415588

  12. 391402 78429Wow! This could be one certain with the most helpful blogs Weve ever arrive across on this subject. In fact Excellent. Im also an expert in this subject therefore I can recognize your hard work. 718291

  13. Evden eve nakliyat hizmetiyle beklentilerimin üstüne çıktılar! Daha önce böyle profesyonel bir taşınma süreci yaşamamıştım. Kozcuoğlu’nu kesinlikle tavsiye ediyorum.

Leave a Reply