California's highest-paid administator gets $423,000/year - for life

[le roi]

Originally Posted by HappyTexan

The banks are not forcing the Fed to expand the monetary base.
That is the Fed doing it themselves.

Bankers own and control the Federal Reserve.

Put blame where blame is due. The Fed is expanding it to buy Treasuries which gives the USG money.

Uh, no, expanding the monetary base doesn't necessarily give the USG money. In this case it is actually the opposite, the private sector banks are driving up the price of commodities, land, etc., which the government purchases to build roads, etc.

So the private sector lending is a big part of what is causing the federal government to run deficits, as gov't tries to keep up with inflation created by Wall Street.

We'd be bankrupt if we didn't create money these past 5 years.

Fair enough, but how do you explain the past 40 years?

The money the Fed creates is not circulating..it stops at the big banks who are investing it and keeping the profits.

Right, and if this process didn't expand the monetary base -- that is to say, if banks were using deposits instead of Fed loans -- then it wouldn't be an issue.

That's my central point here, that this woman earning $400k (or whatever) is no worse a burden on taxpayers than a Wall Street CEO. The only difference is that where Wall Street's money comes from is more convoluted and difficult to understand than a county's.

Why do you think the Dow is hitting new highs ?

Because of the process we're talking about, Fed lending to banks, banks lending to corporations, corporations using that cash to buy equities.

[katygirl68]

Originally Posted by mpyne

Uh move to another state. Are you forced to live somewhere?

I don't live there, but I'd be really mad if I did after people voted for a tax increase to fix their budgets. This should be outrageous to everyone. I find it shocking that people aren't more outraged that a county supervisor makes more than the President of the United States.

[katygirl68]

Originally Posted by le roi

the interesting thing is, if you go looking for a job with california government(s) today, the salaries they're offering aren't all that great. i saw some positions open in bay area gov't's in my field... the pay was mediocre.

The pay is always mediocre at first. Benefits were always how they attracted people to government jobs, because salaries were not as high as the private sector. For some reason, it's all changed. My problem is that this woman probably didn't make that high salary forever, but had huge raises in recent years simply to increase her retirement benefit. I remember that happening with the Houston Police Dept. several years ago. People were getting huge raises at the end of their careers so that they would receive that amount in retirement every year.