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Old 04-15-2012, 05:37 PM   #1
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Doodoo ECB employees demand inflation protection for their pensions

Talking about insider protection.The following is a short article by Bloomberg, a more detailed one was published in a major German newspaper today:
Quote :
ECB Workers’ Pensions not Protected Against Inflation, FAS SaysEuropean Central Bank employees’ pensions are not protected against inflation, the Frankfurter Allgemeine Sonntagszeitung reported, citing Carlos Bowles, an employee spokesman.
“We don’t understand why the ECB leadership refuses to protect our pensions against inflation,” the newspaper quoted Bowles as saying.

Here's the original article, it says that the EBC leadership is feeling very uncomfortable about the issue. Representatives of the employees have even taken the ECB to court about this. It's a pending case:
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Old 04-15-2012, 06:40 PM   #2
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You know, when my company announced a $0.40 an hour raise for all hourly associates in February this year, I almost stood up and said, "That is not enough". The reason I didn't is because the majority of the people I work with would be too afraid to lose their job by standing up with me. Not that I need the support of everyone to stick up for myself, but as you know, there is strength in numbers. Further more, I know it wouldn't do any good, and just draw negative attention to myself. My warehouse has a strict no union stance, and talking about one or supporting collective action will get you fired. I'm literally in a position where I am just doing what I can to keep food on the table.

My warehouse has raised our pay anywhere from $0.25 to $0.40 ever year since it has opened. I make $19.75 with an hour with that raise, so they have basically been sticking to the reported CPI 2% rate of inflation when it comes to the COLA pay increases. The people in charge of the warehouse like the General Manager and his Assistant General Manager are making 75k a year minimum. I'm not sure but I've also heard they could be 100k+. Anyway, if they only got a 2% raise that still gives them $2000 more dollars a year, and $1000 more than most of the rest of us. And for what.. typical hierarchy bullshit, they sit around in offices all day having fucking meetings while the rest of us slave away unloading and loading trailers @ 400+ cases(boxes) an HOUR by hand.

We've also been told that if we do not make the expected productivity levels this year, we might become a 'liability' to the company. Thing is they don't do layoffs. In an extreme situation like that they would probably cut an entire shift, with every person on that shift being treated as "displaced". That gives the displaced associate first dibs on any job postings for the warehouse, but they sit @ home without pay, (I think unemployment will pay) until they take a position.

Anyway, I wouldn't even put up with it if my life and my family's didn't depend on it. I will say that I have gotten a good enough position there at the warehouse that I can be assured all of my hours in a week and all of the days of the year as long as my shift stays 'profitable' and doesn't get cut completely. I also do not have to slave away @ ridiculous levels of productivity. I did that for 4.5 years to get where I am now. I would have stayed in school, payed for by the Army, if only the fucking government hadn't taken 2+ years to get me my money correctly. I'm not even making that up.. I had to get a Congressman involved to get my GI Bill pay. It took almost 2 years to fix; and in the mean time I had to choose between possibly losing my 'decently paying' job during the crash of 2008, staying in school, and starving, or drop out with a 3.74 GPA, go back to work full time, secure my job in this fucking economy, and give up.

Fuck this just made me mad.

“The first panacea for a mismanaged nation is inflation of the currency; the second is war.
Both bring a temporary prosperity; both bring a permanent ruin.
But both are the refuge of political and economic opportunists.”
– Ernest Hemingway

If voting made any difference they wouldn't let us do it - Mark Twain
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Old 04-15-2012, 07:42 PM   #3
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ECB workers likely understand inflation better than the average wage slave.

That sucks KMS. We haven't gone full on Brazil (movie) yet, but your story reminds me of it.
The journey of a thousand miles begins with a single step. - Lao Tzu

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Old 04-15-2012, 08:32 PM   #4
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Yeah, KMS, I agree with PMBug. That really sucks. But as you said, what are you going to do? You have to feed your family. And it's pretty brutal out there.

Typically through history, excesses get wrung out. In our case, the stealing bankers would get the noose. Something like that may be coming.

In the meantime, get/stay out of debt the best you can. SAVE wherever possible, and a big of THAT should go into PMs. Ammo. Preparations for a SHTF.

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Old 04-16-2012, 10:18 AM   #5
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Interestingly, I had a visit from a neighbor over the weekend. Not terribly well off at all - her credit card bounced on a beef purchase.

And she was asking me about whether a fried of hers was simply nuts with his prepping, and saying you should be getting ready for TSHTF situations.

This to me is like SA's getting a sell aapl signal from his mom....someone who doesn't know squat about financials wondering when they should get on board with prepping - and how to do it - even though they are at best scraping by now and barely surviving as is. I mean, she didn't know what's meant by fiat money. She was stunned when I showed a chart that had the markets since 2008 priced in dollars - and then in gold... A real aha! moment for her.

And maybe me. If this stuff hits the mainstream, it's going to get interesting.
Go long prepper supply outfits?
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Old 04-16-2012, 10:57 AM   #6
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Cable TV likely playing a role here in penetrating the conscious fog of the unwashed masses:
The journey of a thousand miles begins with a single step. - Lao Tzu

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