A bloated payroll for sure….
If you enjoy the content at iBankCoin, please follow us on Twitter
© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy
zerohedge can’t read a graph.
Cronkite simply copies the error in his headline.
Sad. A stain on iBC.
So says the guy who is a state employee of California.
Sometime you are a hack because you are ignorant of the subject matter and ideologically unable to objectively determine the validity of a source.
Sometimes you are a hack because you choose to be. Such is the case with your comment above.
Zerohedge noted: The following chart from Bloomberg shows …the 100%+ increase in California employee state pay since 2005. Needless to say, this is a rate of increase in compensation that 99% of workers in the private sector would die for.
The chart clearly shows that employee state pay increased about 20% in nominal dollars over the 6-year period.
Net of the 15% inflation (CPI-U) over that period, employees averaged a stunning 5% real increase in 6 years.
“The numbers are even larger in California, where a state psychiatrist was paid $822,000, a highway patrol officer collected $484,000 in pay and pension benefits and 17 employees got checks of more than $200,000 for unused vacation and leave.”
How many annual tax dollars are you milking from the good citizens of CA?
The identity of my employer will not affect the correct reading of the chart in the zerohedge article, dear hack.