Coronavirus

[Oracle]

There were rules permitting slavery once.
It doesn’t make the rules right.

The public sector pension scam is heading for a catastrophe. It cannot last.
Once upon a time, savings, return, bonds and interest rates were a heady 6 percent or more. People didn’t live 20 years in retirement. People saved then spent. At that time public sector pensions self funded. But then money saved by private joe got the same returns. All was bliss.

Long term Government bonds that underpinned annuities traded at 5 percent or more.
Now there is no savings interest rate, ( a government choice to screw savers, encourage borrowers as “ stimulus” started by Blair and brown) , negative bond yields in some countries, creating the bubble. It shafted the private sector royally.

Public sector employees are the ultimate tax dodgers. Their pensions cost more at market rate than they will ever pay in pensions and tax. How dare they point at others for avoidance? But because MPs abuse the same rules theyrefuse to do anything about it.
Most workplace pensions tanked with equities. It is private sector paying for corona.

As for overegging, the financial catastrophe is about to begin.
The response to covid will kill by starvation and deprivation . How is that “ better “?

As for frustration. Not really. I’m out of it. I saw the crash coming and made money out of it. But I still have enterprise and manufacturing underpants, and all that I see is destined to destroy enterprise, and discourage any from starting it. I have refused to employ in the last ten years. It was already too onerous then.

A sad state for the future.

Hi Oracle, re your last couple of posts. The crisis has not been overegged it is a reaction to the unknown and sensibly erring on the side of caution while attempting to come to the correct conclusion, for every study there is another opposing one, and there’s thousands of studies.

Schools are a complex puzzle that will take a bit of care and attention to solve probably along with a reasonable track and trace system. I’m sure schools will get to it, yes, leaving documents for 72 hours seems obvious, lots of things for them to look at to reduce the chance of infection while the real risk is defined.

I think most of the things you see as unfair, wrong or a greedy scam have occurred because of the “rules” (I use rules loosely to describe necessity, regulations and negotiations whereby a purchase, contract, wage, pension, tax offset, bonus, benefit, etc, comes about, the power of money).

Companies and Governments all take advantage of the rules, why should people not do the same?

I did like your comment about us being “personally responsible for wage levels, and every time you buy cheapest or when that isn’t cheap enough you buy from abroad”. Reality is almost everyone does it, and it’s because of the “rules”. (I’m wearing a Primark tee shirt just now ��).

We have to follow a lot of the rules whether we agree with them or not and those we have a choice with have a cost associated with them. I think you need to learn to live with it or do something positive to change the rules, either way might help to ease your frustration.

One solution to the financial issues would be an equivalent of the South Korean Gold Collecting campaign except from the top down! The rich would still be rich but it would enable the rest of us to get by, or alternatively find a leader like Atilla the Hun.