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Myles Poland (myles@poa.st)'s status on Friday, 11-Apr-2025 05:45:15 JST Myles Poland
- Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
Pensions were always a terrible idea.

RT: https://poa.st/objects/2166f1d9-d05a-4f10-a0dc-ce5886f1245f
In conversation about a month ago from poa.st permalink
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  BowserNoodle ☦️ (bowsacnoodle@poa.st)'s status on Friday, 11-Apr-2025 05:45:14 JST BowserNoodle ☦️
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  @Myles @Polfusilier Why do you think that? It's a nice way to reward long term employees. The architect of the 401k regretted his creation once he saw the destruction of the pension system it helped fuel.
  
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  BowserNoodle ☦️ (bowsacnoodle@poa.st)'s status on Friday, 11-Apr-2025 06:19:01 JST BowserNoodle ☦️
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  @Myles @Polfusilier Funding structure is its own issue but they're not the same as stock accounts. We didn't see raises that matched the missing compensation that previously went into pensions after the 401k replaced them. I'd prefer automatic esop + 401k with match vs a pension if I had the choice, but we usually don't.
  
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  Myles Poland (myles@poa.st)'s status on Friday, 11-Apr-2025 06:19:02 JST Myles Poland
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  - BowserNoodle ☦️
  @BowsacNoodle @Polfusilier It's fundamentally dishonest. "I'll gladly pay you forty or fifty years from now for work you do today." There's no guarantee those companies will be around a decade from now, let alone when you want to retire. Older workers ALWAYS screw younger ones to make sure their pensions remain intact. Want a raise? Can't, gotta fund the pensions. We need more guys? Can't, pension obligations. Equipment repairs or modernization? You guessed it, the pension gets that money. And all of that doesn't stop pension funds from going insolvent anyway. And to top it all off, pension funds are just stock accounts anyway, so why keep up the pretense? It's a nice idea, but like most ideas like that, if you spend more than a moment thinking about it, it falls apart.
  
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  ☦️KingOfWhiteAmerica☦️ (kingofwhiteamerica@poa.st)'s status on Friday, 11-Apr-2025 06:40:45 JST ☦️KingOfWhiteAmerica☦️
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  - BowserNoodle ☦️
  @BowsacNoodle @Myles @Polfusilier In either case it requires a functional Civilization in order to actually deliver; the outward form of retirement savings doesn’t mean very much if currency debasement outpaces all margins, right ?
  
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  BowserNoodle ☦️ (bowsacnoodle@poa.st)'s status on Friday, 11-Apr-2025 06:41:18 JST BowserNoodle ☦️
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  - ☦️KingOfWhiteAmerica☦️
  @KingOfWhiteAmerica @Myles @Polfusilier Correct. Same applies to 401k and any other ERISA plan. Kind of sucks TBQH.
  
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  ☦️KingOfWhiteAmerica☦️ (kingofwhiteamerica@poa.st)'s status on Friday, 11-Apr-2025 06:54:26 JST ☦️KingOfWhiteAmerica☦️
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  - BowserNoodle ☦️
  @BowsacNoodle @Myles @Polfusilier It’s one of those niggers-in-the-woodpile that nobody in the industry can even begin to address, without immediate “shun the non-believer; SHUUUUN!”
  
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  BowserNoodle ☦️ (bowsacnoodle@poa.st)'s status on Friday, 11-Apr-2025 06:54:26 JST BowserNoodle ☦️
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  - ☦️KingOfWhiteAmerica☦️
  @KingOfWhiteAmerica @Myles @Polfusilier "The economy" is a lesser warp entity that maintains power solely by our collective beliefs in its strength. If you talk about it negatively, you risk memetic psychic damage inflicted upon it and a shockwave of wrath returned to all who've been infected by the treacherous meme.
  
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  BowserNoodle ☦️ (bowsacnoodle@poa.st)'s status on Friday, 11-Apr-2025 06:55:42 JST BowserNoodle ☦️
  in reply to
  @KingOfWhiteAmerica @Myles @Polfusilier It's really powered by the consequence of being put into an 8x8 box by a guy with a gun if you don't use American dollars to pay taxes. Once that stops, the USD stops.
  
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  BowserNoodle ☦️ (bowsacnoodle@poa.st)'s status on Friday, 11-Apr-2025 06:57:36 JST BowserNoodle ☦️
  in reply to
  @KingOfWhiteAmerica @fknretardlol @reallyangry @Myles @Polfusilier :Ackshually: Statistically, the average 20 year rate of return on the US stock market for any period since 1950 to present has been at least 6% annualized, compounded.
  
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  fknretardlol (fknretardlol@decayable.ink)'s status on Friday, 11-Apr-2025 06:57:37 JST fknretardlol
  in reply to
  lol.. No !
  
  In conversation about a month ago permalink
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  ☦️KingOfWhiteAmerica☦️ (kingofwhiteamerica@poa.st)'s status on Friday, 11-Apr-2025 06:57:37 JST ☦️KingOfWhiteAmerica☦️
  in reply to
  @fknretardlol @reallyangry @BowsacNoodle @Myles @Polfusilier Obviously nobody wants currency debasement; especially those profiting from it. But the financial sector has to pretend against any and all evidence that it’s essentially insignificant, or that margins will always outpace the loss. Anyone suggesting otherwise must be burned at the stake.
  
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  annoyed (reallyangry@poa.st)'s status on Friday, 11-Apr-2025 06:57:38 JST annoyed
  in reply to
  @KingOfWhiteAmerica @BowsacNoodle @Myles @Polfusilier I JUST WANT FREE MOENY
  
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  Myles Poland (myles@poa.st)'s status on Friday, 11-Apr-2025 12:52:52 JST Myles Poland
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  - BowserNoodle ☦️
  @BowsacNoodle @Polfusilier The point is that pensions these days aren't money set aside by the company, it's in some sort of financial product, and thus not any more inherently secure than investing yourself via whatever instrument you pick or is offered by your company. Plus, if you leave, get fired, or the company goes under, so too goes your pension. Overall, it's just a pipedream.
  
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  BowserNoodle ☦️ (bowsacnoodle@poa.st)'s status on Friday, 11-Apr-2025 12:52:52 JST BowserNoodle ☦️
  in reply to
  - Polfusilier :njp: :sonnenrad: :windmill_of_friendship:
  @Myles @Polfusilier It depends. They have fiduciary standards they have to follow and the pension funds are generally protected from creditors (e.g. if the company shuts the doors you can normally get what's your portion of the pension funds). Regarding security, a lot of companies use an insurance company to handle their funds and they're fairly good at getting modest returns with lower than expected risk.
  
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  ☦️KingOfWhiteAmerica☦️ (kingofwhiteamerica@poa.st)'s status on Friday, 11-Apr-2025 13:02:47 JST ☦️KingOfWhiteAmerica☦️
  in reply to
  @BowsacNoodle @fknretardlol @reallyangry @Myles @Polfusilier line go up 😁
  Yeah in my years alive, I’ve come to believe the debate between the various Economics models is whether mortar or asphalt should be used to build the Tower of Babel.
  
  In conversation about a month ago permalink
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  petra (petra@poa.st)'s status on Friday, 11-Apr-2025 13:02:47 JST petra
  in reply to
  @KingOfWhiteAmerica @BowsacNoodle @fknretardlol @reallyangry @Myles @Polfusilier It's like voting and democracy. All fake. All gay. Always was.
  
  In conversation about a month ago permalink
  
  BowserNoodle ☦️ likes this.

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