Run DMC

Mish's Global Economic Trend Analysis: State of New Jersey Is Insolvent
Raise taxes or cut bennies? I say cut bennies. Time to suck it up, rich old farts!

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BelichickFan

It may not be fair but all pension type payments - Social Security, Medicare, actual Pensions - are going to have to be means tested. We can't start raising taxes just to continue paying people who just dump the money in their investments. I'm not a "get the rich" guy but it's just the way it's going to have to be.

Holy Diver

Lets raise taxes, and give the entities that failed the people MORE money, so they can waste it. After all, thats the NEW American way!!!!!!


Deregulated free markets RULE!!!!!!!

PatriotsReign

Definately cut bennies.

Mish's site? one of my favorites! Someone turned me on that site a while ago and I love it.

Mish isn't liberal or conservative and he's a straight shooter. I don't know how he makes a living as a financial advisor since most of his posts make you want to take all your money out of the markets.

Run DMC

Uhh, that would be me, bro-ham.

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Real World

What does NJ being bankrupt have to do with free markets? Do you think NJ is in this position cuz of degregulation? Look at the pension funds of any state, or even the projections for SS, and tell me when they ever looked sustainable, or realistic? How about N-E-V-E-R.

Gubmit is simply too big. People still have trouble understanding this. The bigger it gets, the more innefficient it becomes, and the more costly life is for the average citizen who pays for it.

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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897

IcyPatriot

New Jersey can just increase the price they charge New York for taking their toilet flush.