Virus thread, the political one.

[j44ke]

The discussion of these models on the NYTimes I think illustrates how the incompleteness of the data results in a sort of interpretive dance of outcomes. Interpretative dancing meshes nicely with politics I think. It leaves space for constructing a narrative that means what you want/need it to mean.

What 5 Coronavirus Models Say the Next Month Will Look Like - The New York Times

[ides1056]

I saw the story about Moscow Mitch and thought the Onion had written it. Cuomo's response was right down the baseline: "Why don’t we think about that? Not red and blue. Red, white and blue. They’re just Americans dying.”

[fastupslowdown]

I saw the story about Moscow Mitch and thought the Onion had written it. Cuomo's response was right down the baseline: "Why don’t we think about that? Not red and blue. Red, white and blue. They’re just Americans dying.”

i saw McConnel's comment. I don't disagree with the general idea. Pensions are an out of control problem at the city and state level. Too much has been promised in many cases probably in exchange for votes but the timing of such a statement could not have been worse. -Mike G

[vertical_doug]

i saw McConnel's comment. I don't disagree with the general idea. Pensions are an out of control problem at the city and state level. Too much has been promised in many cases probably in exchange for votes but the timing of such a statement could not have been worse. -Mike G

Although I dislike Mitch, I have to agree with him here. The pension issue is not a problem from short term cash flow, it has been a long term systemic issue. NYS still sees pension spiking the last 2 years of public employees. It is a fine line were spending money on infrastructure projects which benefit the future, versus backfilling a long term mismanagement issue.

But we also have to be wary not to fund white elephant projects which can be a repeat of Occulus in NY.

[ides1056]

Coming from a guy with a golden parachute like McConnel, yes. All the people I know who do the grunt work at the State and Federal level do so out of a sense of service and the expectation that when they are done there will be a pension to live on. Don't promise what you can't deliver.

He's going to pivot to ending Social Security with the same rationale.

[vertical_doug]

Coming from a guy with a golden parachute like McConnel, yes. All the people I know who do the grunt work at the State and Federal level do so out of a sense of service and the expectation that when they are done there will be a pension to live on. Don't promise what you can't deliver.

He's going to pivot to ending Social Security with the same rationale.

I think most government employees fall into this camp, but there are enough that keep popping up in the system for spiking, that it is more of a problem than a few bad apples. California finally banned it. NYS needs to look at the problem, and reverse out of it. The same goes for the quasi-gov entities like LIRR with their disability fraud scandals. Over the life of the spiking draw on pension benefits and disability draws, you are looking at a figure north of 100mm easily.

[htwoopup]

On the local level issue, let’s not ignore the twisted way that Georgia HAD to do a « reopen ». The Georgia unemployment fund will be out of money in a reasonably short time. Interestingly, if the establishments are reopened then the state will have an out as the unemployment claims are no longer valid. The need is further exacerbated as the Republicans passed a law that taxes can NOT be raised (something that in California has long caused problems including health care, education etc) so any shortfall will be a problem. On the one hand it will be interesting to see how McConnell et alia will react given it is a « red » state that would be in fiscal distress. On the other hand there is the old trope about « freeloaders » and the fact that most of those in jobs that the Republican governor is « reopening » happen to people of color and other « disadvantage » so called freeloaders it may be interesting on another level.

[fastupslowdown]

Although I dislike Mitch, I have to agree with him here. The pension issue is not a problem from short term cash flow, it has been a long term systemic issue. NYS still sees pension spiking the last 2 years of public employees. It is a fine line were spending money on infrastructure projects which benefit the future, versus backfilling a long term mismanagement issue.

But we also have to be wary not to fund white elephant projects which can be a repeat of Occulus in NY.

Yea. I think the pension issue is out of control but I don't like Mitch pitting blue state against red state either in time of crisis.

[guido]

The Virus Won’t Revive F.D.R.’s Arts Jobs Program. Here’s Why. - The New York Times

"The Federal Art Project, part of Roosevelt’s sweeping employment plan, gave work to thousands of artists, but politics and society were different then."

[davids]

i saw McConnel's comment. I don't disagree with the general idea. Pensions are an out of control problem at the city and state level. Too much has been promised in many cases probably in exchange for votes but the timing of such a statement could not have been worse. -Mike G

Governments declaring bankruptcy???

This is a fundamental misunderstanding of what bankruptcy is. Bankruptcy is a way of protecting individuals (and companies/corporations) when they are unable to pay their debts.

Governments are the entities that ensure the stability, integrity, and fairness of our societies. More to the point, there is one particular government that can prop up both our society and the other governments caring for us. It's the federal government.

This slimy piece of misdirection from the majority leader of the United States Senate disgusts me. He is attempting to deflect responsibility from the only entity capable of providing the supports needed to ensure citizens get through this. He knows it's a stupid and totally unworkable solution. He just wants our attention directed elsewhere.

[davids]

What she says: Opinion | The Money Machine That Can Save Cities - The New York Times

[mzilliox]

Governments declaring bankruptcy???

This is a fundamental misunderstanding of what bankruptcy is. Bankruptcy is a way of protecting individuals (and companies/corporations) when they are unable to pay their debts.

Governments are the entities that ensure the stability, integrity, and fairness of our societies. More to the point, there is one particular government that can prop up both our society and the other governments caring for us. It's the federal government.

This slimy piece of misdirection from the majority leader of the United States Senate disgusts me. He is attempting to deflect responsibility from the only entity capable of providing the supports needed to ensure citizens get through this. He knows it's a stupid and totally unworkable solution. He just wants our attention directed elsewhere.

this! lots of bluster and nonsense from a lot of sides, but at the end of the day this is it. we can vote for our selfish short term 401k sense of whatever, or we can vote for an actual long term solution. i am constantly fascinated that a large brained long lived species put so little energy in to long term thoughts. its like we know we have these brains, but we cant help but not use them when someone puts a bit of sugar in our faces. lets start using our brains and considering our long lives? eh?

[vertical_doug]

Governments declaring bankruptcy???

This is a fundamental misunderstanding of what bankruptcy is. Bankruptcy is a way of protecting individuals (and companies/corporations) when they are unable to pay their debts.

Governments are the entities that ensure the stability, integrity, and fairness of our societies. More to the point, there is one particular government that can prop up both our society and the other governments caring for us. It's the federal government.

This slimy piece of misdirection from the majority leader of the United States Senate, disgusts me. He is attempting to deflect responsibility from the only entity capable of providing the supports needed to ensure citizens get through this. He knows it's a stupid and totally unworkable solution. He just wants our attention directed elsewhere.

Governments sometimes do have to default, but it is almost always because of mismanagement and graft. (hey look at who is in the white house).

Right now, the GOP is spending willy-nilly but it is a bit like every 1 dollar for the poor leads to 10 dollars to the wealthy. People ask how can the stock market be up when unemployment is soaring. Economist like to talk about leading indicators, lagging indicators, but reality is a tremendous amount of wealth and future wealth is being channeled at asset prices now.

Half my friends are in the gold bug camp thinking collapse of dollar and bad inflation is on the horizon, the other half think crushed consumption lead deflation.. I am in the camp of the worse of both worlds.
I still have my 1 hundred Trillion dollar zimbabwae notes in a door. Aren't worth the paper printed on.

[bcm119]

Coming from a guy with a golden parachute like McConnel, yes. All the people I know who do the grunt work at the State and Federal level do so out of a sense of service and the expectation that when they are done there will be a pension to live on. Don't promise what you can't deliver.

He's going to pivot to ending Social Security with the same rationale.

Livable pensions are mostly a state and local government thing. Unless you began your career with the fed gov before 1987, the federal pension is more of a supplemental annuity, along with SS and 401k (TSP). Congress gets a better pension than civil service grunts like myself, but due to their shorter careers on average their pensions still aren't exactly golden parachutes. I expect states to move toward that model eventually.

[davids]

I'm also going to respond to the comment about employee pension funds.

Full disclosure: I will benefit from a generous government pension someday. I do have good benefits in my public sector job, including generous health insurance, vacation time and a pension that will reward me for long-term service. In exchange for these benefits I earn a significantly lower salary than I would if I were doing my job in the private sector. And I like my benefits. I wish more jobs had benefits like mine.

My retirement system is (was?) on track to be fully funded by 2025. So good benefits being responsibly managed.

But hey, let's attack public pensions as if we're thieves. "Probably in exchange for votes"? Show your work please.

[guido]

‘Sadness’ and Disbelief From a World Missing American Leadership - The New York Times

"The coronavirus pandemic is shaking bedrock assumptions about U.S. exceptionalism. This is perhaps the first global crisis in more than a century where no one is even looking for Washington to lead."

[theflashunc]

I'm also going to respond to the comment about employee pension funds.

Full disclosure: I will benefit from a generous government pension someday. I do have good benefits in my public sector job, including generous health insurance, vacation time and a pension that will reward me for long-term service. In exchange for these benefits I earn a significantly lower salary than I would if I were doing my job in the private sector. And I like my benefits. I wish more jobs had benefits like mine.

My retirement system is (was?) on track to be fully funded by 2025. So good benefits being responsibly managed.

But hey, let's attack public pensions as if we're thieves. "Probably in exchange for votes"? Show your work please.

When the capital class spends 40 years attacking civil service like it's some communal theft, you get bad notions like that.

[j44ke]

This just sounds like an item on the GOP wish list and McConnell trying to push through something cleverly disguised as good business practices. Same same.

[theflashunc]

This is a must read for the open it up brain geniuses.

The Body Collectors of the Coronavirus Pandemic | The New Yorker

[vertical_doug]

I'm also going to respond to the comment about employee pension funds.

Full disclosure: I will benefit from a generous government pension someday. I do have good benefits in my public sector job, including generous health insurance, vacation time and a pension that will reward me for long-term service. In exchange for these benefits I earn a significantly lower salary than I would if I were doing my job in the private sector. And I like my benefits. I wish more jobs had benefits like mine.

My retirement system is (was?) on track to be fully funded by 2025. So good benefits being responsibly managed.

But hey, let's attack public pensions as if we're thieves. "Probably in exchange for votes"? Show your work please.

I don't think I am attacking the pension as much as one particular abuse of the system called spiking. It's a bigger problem in NYS than Mass. Mass.gov tried to address the problem on 2011 with MSRB to prohibit two forms of pension spiking.
As a public employee, you should be outraged at someone who has abused the system since they drag you into the mud with them.