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Steve Mudge's avatar

As a left leaning Libertarian (haha, whatever that is) I generally agree with your assessment of some unions. Some pension systems too are crazy generous (California especially-- I have two friends that worked seven years for the state, retired early, and will likely get payouts for thirty years. How does THAT make any sense?) Costco and WinCo may be better examples of unions/co-op models that are reasonable. Still it's hard to blame folks for wanting more money with high housing, tuition, healthcare, and other costs these days. If the Fed keeps printing money to "fix" things this will keep exacerbating the situation. Though painful, a depression/deflationary event would help reset our maligned trajectory and perhaps sober up unions that expect so much. Don't know how to resolve the deficit but historically I think countries just defaulted and moved on (this would entail a global default of course).

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