So Cirrho never addressed the poverty issue in CA and played the "I don't see them in my neighborhood so it doesn't exist" ignorance is bliss defense. Gets racist in his descriptions of other states and clearly has no idea that his state has more liabilities than it will ever be able to cover.
I think Cirrho won the argument. Who is with me? LOL
Rent seeking off the “California is essentially bankrupt” crowd is the favorite part of my work.
Did you get ahold of the OC register to bust their balls?
You are a classic liberal idiot who has trouble with their maff and their honesty. CalPERS uses the Market Basis math because it is much more accurate over time. In other words, the accountants for the state aren't going to lie to themselves like idiots like you do.
I love when you post a link and don't take the time to read it you idiot.
From your link:
"The use of this discount rate here is intended, as most financial economists agree, to more closely represent market realities and system liabilities."
They are describing their use of Market Basis accounting. FFS you are a juvenile.
They got over 10% return on their investments last year. You really think 3% over time is reasonable? Besides, GASB standards dictate the rate to be used.
You don't look for facts, you look for affirmation.
This is like arguing with a 3 year old.
They had huge losses in the early 2000's and again gigantic losses 2008-2010. Over that decade the average return was lower than 2%. The reality is probably even worse as politicians in CA like to fake the numbers. It is bad for re-election chances if you publicize horrible losses in the CALPERS returns so the democrat leaders there lie by using fake liberal maff.
The cold hard facts are that the CALPERS system is unsustainable and is bankrupt. A ponzy scheme at this point. Even after all of this stock market rise, they CALPERS system is still so deep in unsecured debt it will never get out whole. So, you idiot, that means that when the market goes down, and it will, it always does, it is going to further kill the ponzy scheme that now is CALPERS.
Is Calpers only a 10 year plan now? Do you really think they only invest in US stock market equities? The financial statements are online, you can see everything and they're assumptions.
If you are only getting 3% return on your investments over time, good luck in retirement. You are barely keeping pace with inflation.
Is it only a one year plan? You’re basing your objection to a 3% discount rate because of a 10% return in one year. Do you believe there are no negative years? Do you not think there are constraints to the investment types a pension plan can participate in? I bet all the high risk, high reward stocks are forbidden and, conversely, I bet there’s a minimum amount of low risk, low yield bonds that are mandated. Al of this will lower the rate of return below any index rate of return.
Go to page 60. You are wrong when it comes to their investments.
And many many more articles for anyone who cares to educate themselves.
Let’s recount BendintheriverFS idiocy in this thread and prior ones. All the while he purports to defend “facts” and “education.” Here is a summary of his claims:
1. California is essentially bankrupt. 2. Cal PERS is a “ponzy” scheme. 3. San Bernardino, Vallejo and Stockton went bankrupt because of PERS. 4. San Diego is “right behind” these cities on the way to bankruptcy. 5. Meanwhile, he never read the audit, or the disclosure report while posting zerohedge. Dan Walters, OC register among other opinion articles as his “facts” while insisting his bullshit is something else other than “feelings.”
He cannot explain how any of his tangentially-related at best “facts” has any basis in reality or correlation to each other. He can’t because it’s the fabrication of an imbecile. I look forward to discussing this for as long as it takes bendintheriverFS to explain this bullshit, but let’s start with a simple question.
Stockton, Vallejo and San Bernardino are Charter cities. Wtf do the payments they make to their pension fund manager have to do with any of your arguments?
And many many more articles for anyone who cares to educate themselves.
Hondo won’t read the links.
I only read the headline.
As usual. It’s important that you continue to argue from ignorance.
Read the actual audited financials. Then read those links he posted. And tell me who is arguing from Ignorance.
Tell me to read links when you’ve skipped too many to count over the years so you can remain ignorant. Only in hondos fucked up world does this make sense.
I’d read the links but I have bad internet service and am working 60 hour weeks.
And many many more articles for anyone who cares to educate themselves.
Hondo won’t read the links.
I only read the headline.
As usual. It’s important that you continue to argue from ignorance.
Read the actual audited financials. Then read those links he posted. And tell me who is arguing from Ignorance.
Tell me to read links when you’ve skipped too many to count over the years so you can remain ignorant. Only in hondos fucked up world does this make sense.
I’d read the links but I have bad internet service and am working 60 hour weeks.
And many many more articles for anyone who cares to educate themselves.
Hondo won’t read the links.
I only read the headline.
As usual. It’s important that you continue to argue from ignorance.
Read the actual audited financials. Then read those links he posted. And tell me who is arguing from Ignorance.
Tell me to read links when you’ve skipped too many to count over the years so you can remain ignorant. Only in hondos fucked up world does this make sense.
I’d read the links but I have bad internet service and am working 60 hour weeks.
And many many more articles for anyone who cares to educate themselves.
Hondo won’t read the links.
I only read the headline.
As usual. It’s important that you continue to argue from ignorance.
Read the actual audited financials. Then read those links he posted. And tell me who is arguing from Ignorance.
Tell me to read links when you’ve skipped too many to count over the years so you can remain ignorant. Only in hondos fucked up world does this make sense.
I’d read the links but I have bad internet service and am working 60 hour weeks.
And many many more articles for anyone who cares to educate themselves.
Hondo won’t read the links.
I only read the headline.
As usual. It’s important that you continue to argue from ignorance.
Read the actual audited financials. Then read those links he posted. And tell me who is arguing from Ignorance.
Tell me to read links when you’ve skipped too many to count over the years so you can remain ignorant. Only in hondos fucked up world does this make sense.
I’d read the links but I have bad internet service and am working 60 hour weeks.
I am not playing your games. I provided articles that proved my position that were researched and published. If you don't want to read them then just fuck off.
I am not playing your games. I provided articles that proved my position that were researched and published. If you don't want to read them then just fuck off.
You are exposed as as lying fool and coward, who dishonestly demands that your questions be answered but cannot reciprocate.
I am not playing your games. I provided articles that proved my position that were researched and published. If you don't want to read them then just fuck off.
You are exposed as as lying fool and coward, who dishonestly demands that your questions be answered but cannot reciprocate.
The irony of Mr. Pathological Triple-Questioner bitching about answering someone else’s questions is fucking hilarious.
I am not playing your games. I provided articles that proved my position that were researched and published. If you don't want to read them then just fuck off.
You are exposed as as lying fool and coward, who dishonestly demands that your questions be answered but cannot reciprocate.
The irony of Mr. Pathological Triple-Questioner bitching about answering someone else’s questions is fucking hilarious.
This is what a liberal temper tantrum looks like when they can't compete intellectually. They call people names and lash out while trying to obfuscate and avoid the facts.
The proof is in all the articles I linked. He clearly has a comprehension problem and probably a small dick which explains the internet tough guy routine, but that is no ones business.
I am not playing your games. I provided articles that proved my position that were researched and published. If you don't want to read them then just fuck off.
You are exposed as as lying fool and coward, who dishonestly demands that your questions be answered but cannot reciprocate.
The irony of Mr. Pathological Triple-Questioner bitching about answering someone else’s questions is fucking hilarious.
This is what a liberal temper tantrum looks like when they can't compete intellectually. They call people names and lash out while trying to obfuscate and avoid the facts.
The proof is in all the articles I linked. He clearly has a comprehension problem and probably a small dick which explains the internet tough guy routine, but that is no ones business.
Nah. Just another dime a dozen Butthurt HRC voter who bragged about how she was gonna destroy Trump in the 2016 Election.
CDs been throwing shade ever since. It’s all he’s got.
Comments
You should’ve gone to school.
For all you FEELINGS based idiot liberals who like to lie and ignore reality, don't waste your time. Clearly your ignorance and TDS is bliss to you.
https://www.aier.org/article/california-cities-bankruptcy-or-pension-cuts
https://www.zerohedge.com/news/2018-02-24/former-calpers-board-members-shocking-admission-calpers-near-insolvency-it-needs
http://www.mygovcost.org/2018/02/26/calpers-to-force-choice-between-bankruptcy-and-bureaucrats/
https://californiaglobe.com/legislature/california-supreme-court-cuts-pension-air-time-but-preserves-california-rule/
And many many more articles for anyone who cares to educate themselves.
1. California is essentially bankrupt.
2. Cal PERS is a “ponzy” scheme.
3. San Bernardino, Vallejo and Stockton went bankrupt because of PERS.
4. San Diego is “right behind” these cities on the way to bankruptcy.
5. Meanwhile, he never read the audit, or the disclosure report while posting zerohedge. Dan Walters, OC register among other opinion articles as his “facts” while insisting his bullshit is something else other than “feelings.”
He cannot explain how any of his tangentially-related at best “facts” has any basis in reality or correlation to each other. He can’t because it’s the fabrication of an imbecile.
I look forward to discussing this for as long as it takes bendintheriverFS to explain this bullshit, but let’s start with a simple question.
Stockton, Vallejo and San Bernardino are Charter cities. Wtf do the payments they make to their pension fund manager have to do with any of your arguments?
I’d read the links but I have bad internet service and am working 60 hour weeks.
Dick face.
The proof is in all the articles I linked. He clearly has a comprehension problem and probably a small dick which explains the internet tough guy routine, but that is no ones business.
CDs been throwing shade ever since. It’s all he’s got.