Thursday, April 21, 2016
$17 TRILLION PENSION FUND MONIES, GIVE OR TAKE
I REPEAT in ALL posts a mantra about USA LABOR PENSION (retirement) FUND INVESTMENT and WHY NO PRINCIPLED CLASS OPPOSITION and COMPROMISE exists in this country, extending outwards, elsewhere.
Well, above figure, see link below, MORE OR LESS represents gross estimated value of USA Pension (retirement) Fund, commonly referred to as INSTITUTIONAL, INVESTMENT.
The USA being among the world's LARGEST.
REVISED, CURRENT, best guess-estimates NOW RUN OVER $20 TRILLION!
Link below being from 2010-11, not THE most current.
These figures vary depending on source, date, but, it really does not matter for MY purposes.
Information available on this subject being SO prolific, dense, I merely chose RANDOMLY a small, simple, link to make my point.
One can research DETAILS and DATA forever since specifics are voluminous, indicated by many trillions!
MULTIPLE, EXPONENTIAL, TRILLIONS, with a TR, not B, sufficient to make the/my point.
Precise accuracy NOT necessary in this case.
Pensions, retirement, funds, in WHATEVER FORM, shape, they may take, whether as DEFINED, PRIVATE, GOVERNMENT, INVEST in SPECULATIVE STOCK MARKET FLAVORED ENTITIES OF ONE OR ANOTHER SORT.
GUARANTEES DO NOT EXIST.
ALL depends on fluctuating MARKET VALUES, hedge funds, commodities, interest rates, annuities, exotic financial tools, derivatives, casino capitalism.
Stock market pension fund investment represents THE OPPOSITE, ANTITHESIS, thus, by definition, COMPETITOR of what HERE is known as a NON, or, NOT FOR PROFIT, GOVERNMENT RUN, NATIONAL entity called SOCIAL SECURITY, an "entitlement"
benefit system for elderly; anyone with ANY working history, background, reaching age 66 automatically eligible with an optional, but, reduced, early benefit for 62, I believe.
(Age eligibility modifies upwards slightly from time to time.)
And, a NON-PROFIT GOVERNMENT MEDICAL HEALTH INSURANCE SYSTEM, MEDICARE, TIED TO SOCIAL SECURITY BENEFIT ELIGIBILITY at age 66.
Monies NOW ALLOCATED by our PRIVATE PENSION FUND AND HEALTH CARE INVESTMENT SYSTEM, SHOULD AND MUST, INSTEAD, GO DIRECTLY TO SOCIAL SECURITY and MEDICARE to EXPAND BOTH SYSTEMS, rather than into subsidizing a casino stock market or any other profit generating and speculative financial instrument.
Labor unions MUST DIVEST THEMSELVES OUT OF THEIR CURRENT BUSINESS PRACTISE OF PRIVATE PENSION AND HEALTH CARE INVESTMENT NEGOTIATIONS as bargaining agents, tools.
It represents a basic, fundamental, contradiction and conflict of interest.
LABOR UNIONS play Russian Roulette with employee pension contributions, bundling and investing them into profit generating vehicles, along with ensuing corruption, CORPORATE, POLITICAL, MARRIAGES, kickbacks, commissions, all those nice little schemes.
IF an individual CHOOSES to invest his or her OWN money in a gambling stock market casino or any other profit generating business, activity, then, he or she bears FULL consequences of their OWN ACTIONS.
But, when intermediaries like our nominal labor unions, AFL-CIA/SEIU, AGGREGATE, BUNDLE, COLLECT, LARGE SUMS OF MONIES for and from employees, as middlemen, representative agents, an employee cedes ALL control over his or her own portfolio with NO income guarantee forthcoming despite what MAY be promised.
Guarantee being ILLUSORY.
It depends on CORPORATE SHAREHOLDER VALUE, PROFIT, DOMESTIC AND INTERNATIONAL EXPANSION, INTENSIFIED EXPLOITATION, RAPE, PLUNDER, AND, ALL ELSE ATTENDANT TO PRIVATE CORPORATE PARTNERSHIP and CAPITAL development.
And, once again, as in every other supposedly private enterprise in this country, GOVERNMENT becomes an insurer, or, payer, of last resort with insolvent, bankrupt, pension funds, but, government does NOT NECESSARILY mean equal, full, or, even ANY compensation, depending on disparate legal circumstances of pension, union, corporate, insolvency, bankruptcy, liquidation, obligations: