[Publib] Finances

[Backwage at aol.com]

First a bit of humor from the back of my truck:
 
_http://librarydust.typepad.com/mcgrorty/2008/10/market-conditions.html_ 
(http://librarydust.typepad.com/mcgrorty/2008/10/market-conditions.html) 
 
Now, something serious.  When things like this current market collapse  
occur, it reminds us (or at least some of us) of the limitations of a system  which 
places the essentials of life on such slippery footing.  I think  perhaps we 
should ask the question, why is it that something as important as a  
retirement fund can be subject to diminishment to the point of becoming  valueless, 
with all that means for the person(s) involved?  
 
How did we get into a situation wherein public employee retirement is  tossed 
into the same perilous circumstances as the speculative ventures of the  
business community?  How is it possible for a hard-working person to be  ruined 
without any error having been committed on their part?  And how is  it that you 
can't get off the train, or refuse to ride?
 
Specifically to the library world, isn't it obvious that this will mean yet  
fewer jobs available to new graduates, as older people remain employed to 
recoup  losses, or in anticipation of the next dark chapter of our little 
capitalist  adventure?  
 
M. McGrorty



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