The under utilized Unemployed vs Hedge Funds

An example of inequality.
A study in contrast between those forced to take early retirement and those managing state pensions..

  • SS is reporting an increase in 200,000 more claims for benefits then anticipated.  The reason cited is “joblessness”.  Add this to the real unemployment numbers and the picture becomes more grim.  Most people don’t want to take early retirement.  They never intended to  live on SS as their sole income.  To quote from the NY Times; One woman states, ”  I really don’t enjoy living like this,  I’ve got to much to do,  still”….
  • Contrast this scenario with: the high octane hedge fund managers getting $100,000,000’s in fees for persuading public servants to leave the boring chore of pension protection and investment for life in the fast lane, replete with Lamborghini…NY Times 6/10/12  Don’t blame the hedge fund manager solely for the corruption of the system.  It takes 2 to play.  But the temptation to resist  penthouses in the sky and toys,  that would be the envy of the “devil,  are too enticing for an elected official to give up.  So he leaves his neighbors for the good life.  While his former town is left with worthless bonds and impending bankruptcy.

The Faustian Bargain again.  Short term gains while trashing “old fashioned” values.  The sense of service and allegiance to the community has been dissolved.  Corruption and gambling are creating the divide between people in this country.  It’s not Party.

We are a Country founded on the rule of Law.   Doesn’t anyone look forward to a real debate on consequences, responsibility and solutions? Please do comment.


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