STUMP » Articles » Around the Web-O-Sphere: Meep Enjoying Herself Too Much » 1 December 2017, 03:40

Where Stu & MP spout off about everything.

Around the Web-O-Sphere: Meep Enjoying Herself Too Much  


1 December 2017, 03:40

It’s so untoward to laugh about one’s own jokes but….

…I have no shame.

There is also this, which is much better than what I came up with:

To be sure, it doesn’t involve public pensions, but it does involve William Carlos Williams, one of my favorite poets… partly because he has such memorizable poems.

Also, I like the song being spoofed.


I was thinking of doing a post on this, but eh. I’m not going to even quote any of this (right now). The only reason this caught my attention was the petulant Calpers post, which was too funny. You know, you could just ignore these guys. After all, it’s not like you really were addressing why a supposed 100% ARC payer had a fairly low funded ratio.

Obviously, I’m on Steven & Dan’s side.

Look, neither of them are part of a system that tells towns that have made 100% contributions for years that it counts for only 30% of accrued benefits. Because when you want to leave, amazingly, the pensions get magically more expensive: Much Ado About Discount Rates: Welcome to the Pension California

We’ll keep pretending the pensions cost less, as long as you stay part of the Ponzi pension scheme (as the UK actuaries like to say).

But if you leave, we’ll recognize the full cost. You know, the cost we should have been using to reflect how expensive these promises are.

Do they not realize that it doesn’t look good when you admit that you need younger members to keep the plan going along? To keep pretending you can pay less than what the promises are worth? Because there’s always a new sucker participant whose contributions will pay for the older ones… and as long as you keep having new people it never fails.

Yes, it’s always ugly when the scam gets exposed.

If you want to understand my take on this, just scroll down to the section titled MY REBUTTAL.

Anyway, ‘tis the season, fellas. And Calpers, you really need to worry about this:

Because neither Greenhut nor Pellissier created that. You kind of own that.




Okay, y’all just be jolly.

Feel free to watch my Christmas music playlist.