https://twitter.com/jordanuhl/status/1341587611283054592?s=21
3 Likes
What
The
Fuuuuuuuuuu7777777lufjfngngjfhdhehdhdhhdy36yx3
H rea rt jr gun bruh5bv tr qt pyu oui tt in f ryu in tr ryu mb re ryu nv kmmnnnmjnnnnj
CCCCCCCCCCKKKKKKKKKKKK
KLOOOOOOOOOBBBBBBBBBBB
I feel like I must have watched a different video than everyone else because that tweet seems like a wild characterization of what she said.
3 Likes
None of us watches the video but I assumed she was saying the veto was an attack. No way she’d say the 2k is an attack, even as bad as she sucks she isn’t rand Paul lol
3 Likes
Theoretically if I was Bill Gates I’d think the best way to put my money to charitable causes would be to start my own charity right? And hes doing legit causes not bullshit. Plus you know you aren’t paying for some CEO to get 20 million a year. And because money makes money the longer your string it out for the more you can donate in the end. Like if he donated all of it 10 years ago he would have donated 80 billion but if he does it over 50 years he will have donated 200 billion.
Haven’t looked into what hes actually doing, I just mean theoretically
“People are hurting and need the money, so there’s over 300 billion dollars for businesses in this bill.”
Jesus Christ just let me take over the questioning from there please.
“He’s literally trying to burn this country down on the way out.”
Gonna use my one time on this.
Whatever happens Wall Street assets are going to blow up even more and so the long game skullfucking of the working class continues
update in the “why deplorables are mad about the stimulus bill” discussions: now apparently they have discovered secret provisions in the bill that will prevent trump from using the insurrection act
This is the playbook for the next 4 years unless people take to the streets.
Have you never heard of gallows humor?
What does the 97% mean? Usually public sector plans will say stuff like “if the pension fund earns 7% per year forever and counting contributions in the next X years then there should be enough money to pay the pensions”. Any pension plan will look well funded today if you include optimistic assumptions about future contributions and investment returns coming into the plan.
1 Like
Nah, NY actually codifies that if the pension fund starts to dip, then they raise the amount of money that the government agencies have to put into the fund to keep it up at that 97 percentish. It’s not based on rosy stock market projections, if the market does badly and the pension fund doesn’t earn enough in a given year to cover whatever the baseline amount it’s supposed to, the comptroller increases the amount of contributions that come from the state and local governmental agencies to make up the difference. I’ll admit I don’t know the exact mechanics of how many times (I think annually), it is checked to make sure that it has the correct amount of money in it, but it is legitimate, it’s not based on rosy future projections it’s based on what’s happenned in the past year in the current market. It’s one of the most responsibly managed pension funds in the nation. It’s written into the state constitution that it can’t be raided for other purposes.
Edit: That 97/98 percent funded thing apparently comes from Pew:
Needs a bucket cam imo. Gotta see those facial expressions as the sound of the blade dropping leads to impact.
Stephanie Ruhle on MSNBC is noting that markets opened up this AM and the complete disconnect between Wall Street and what is happening to regular folk. Then interviews a couple of women that lost their jobs in 2020 and both had this glazed look and said $600 is better than nothing and one said that it will help once she gets evicted.
Hadn’t thought of that. $600 isn’t going to let anyone pay rent. Seems like the evictions are the point.
Thanks thats really helpful. I’ll see if I can dig up that 2018 actuarial report. I quickly found something from the NY state website talking about their 2020 expected return being 6.8% which isn’t crazy but its pretty ambitious. For example they’re assuming long term annual returns on global equity, private equity, and real estate ranging between 8 and 9.5%. Like, yeah, maybe? But I wouldn’t bet the farm in that.
What those reports don’t say is that the entire fund is in TSLA
1 Like
They should replace that whole section of the actuarial report with a picture of STONKS guy.
2 Likes
yeah, you’re right, it’s ambitious, but if it falls short in any given year, then they increase the contributions immediately to make up the shortfall. So I recognize that my original post about it being a right wing lie for a lot of states was wrong, but NY, but it is definitely a right wing lie that states like NY, which were hit hard by the pandemic, are trying to get stimulus funds to shore up an ailing pension system.
1 Like