[Summit] Our Fire Chief

[Michael McGlynn]

Perfectly stated.

On Wed, Aug 24, 2016 at 9:39 AM, Greg Gerritt <gerritt at mindspring.com>
wrote:

> There is actually no way to solve the pension problem.  All pension funds
> are predicated on achieving capital growth of 7.5% a year, and in the 21st
> century the only way to achieve that is by looting everything else in
> society to pay the pensions and the financiers.  And even that is no longer
> working.  Returns on investment are no where near 7.5% and have not been
> for years.
>
> The assumptions that went into the modern American pension system were
> built in during a time when the USA held most of the world’s wealth and we
> were flexing post world war 2 muscles.  We are no longer the economic
> powerhouse, everyone else has grown out around us.  And the ecosystems and
> resource bases have been seriously harmed.  IMF, World Bank, and everyone
> else say the long term growth rate trend is down.  Rapid growth will only
> be in places that are seriously poor and rapidly industrializing/urbanizing
> and the occasional fracking boom until all the  water is poisoned and the
> storms destroy the rigs.
>
> US growth rate has been 2.2 to 2.4% for last 5 years.  If returns to
> investments are 7.5%, everyone who does not have those investments gets
> poorer, which is exactly what is happening as we run the economy to meet
> the needs of the bonds.  This then proceeds to undermine the economy
> further, as does the economic development policies preached by politicians
> and bankers in which all investment flows to jobs for the few who do not
> yet live here, with nothing for jobs for the people and neighborhoods that
> need them the most.  (Oh yeah, you have been made obsolete and so we no
> longer even think about how to truly redevelop communities) (Gentrification
> as public religion?)
>
> A little honesty about the impossibility of ever paying  pensions properly
> needs to be on the table and it is not.  But until they give up the fantasy
> of 7.5% returns that will never happen.  So the pension arguments will
> remain a big problem and the cost to the public will increase while never
> coming close to  solving the dilemma.
>
> Greg gerritt
>
> From: Emlyn Addison <noisyblocks at gmail.com>
> Date: Wednesday, August 24, 2016 at 8:59 AM
> To: Carol Cancro <cscancro at gmail.com>
> Cc: Summit Neighborhood <Summit at sna.providence.ri.us>
> Subject: Re: [Summit] Our Fire Chief
>
> Taken in context of the pensions albatross, is it any wonder why people
> _actually elected to office_ can't make headway. Everybody loves their
> gravy train.
>
> This is how ugly it got: http://turnto10.com/news/
> local/providence-fire-captain-fired-grievances-costing-city-
> hundreds-of-thousands-of-dollars
>
> One might pause to wonder how much overtime pay Mr Doughty has made in the
> years leading to acting fire chief.
>
>
> Emlyn
>
> On Wed, Aug 24, 2016 at 8:20 AM, Carol Cancro <cscancro at gmail.com> wrote:
>
>> Colonel Kilgore as his avatar--need I say more?
>>
>> Carol C.
>>
>>
>>
>> On Wed, Aug 24, 2016 at 5:54 AM, Michael McGlynn <mmcglynn at gmail.com>
>> wrote:
>>
>>> Sometimes folks reveal who they really are on social media. Facebook and
>>> Twitter provide a venue for casual comment not coming through official
>>> channels.
>>>
>>> Here is some recent Twitter by Providence's fire chief.
>>>
>>> https://twitter.com/pauldoughty799
>>>
>>> --
>>> Thank You,
>>> Michael McGlynn
>>>
>>> _______________________________________________
>>> Summit mailing list
>>> Summit at sna.providence.ri.us
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>>> SNA Website: http://sna.providence.ri.us/
>>>
>>
>>
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>>
>
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-- 
Thank You,
Michael McGlynn
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