It’s a nice day, the kid is available, why not power wash the house? That’s what’s on the menu today. I’m headed off to the rental place to pick the washer up. Fun, fun.
In the meantime, remember a couple weeks ago when I wrote that Pfizer was a poster child for The Strategy of No Strategy and that the pension fund would start looking like a target soon?
Gettin’ closer. Pfizer announced on Thursday that they were ending their pension plan. Yep, everyone will now be transitioned to a 401K. Isn’t that special? It looks like people with pensions in companies that were acquired may be safe (please, please, please) but, you know, who knows at this point. The change in the pension plan will affect people who will be turning 55 in about the year 2018. Unfortunately, I know a number of Pfizer employees who may be affected by that and can only imagine how thrilled they are at this news after the cruel amount of stress they’ve been through in the past 4 years.
So, to recap, for scientists living in America but not some parts of Europe:
- Pharmageddon continues at a steady pace, throwing many, many scientists out of work, perhaps permanently.
- The only jobs we can get pay a LOT less. You don’t even want to know.
- Benefits are few to non-existent.
- Job-hopping and instability is now “expected”. You may have to leave your family behind. Better yet, don’t have a family.
- You might end up working for a CRO where your input in projects is restricted to task oriented, boring procedures all day, like widget making. No more creativity or learning will be necessary after all those hard science courses.
- You probably won’t be getting that pension you were counting on after 2 decades of work.
- If you want health insurance for yourself and your family, you’ll have to pay through the nose for it from your vastly reduced salary at a CRO.
- Your 401K is tanking- again. But THIS time, because you are out of work, there won’t be any build-back.
- You are slowly being turned into an “entrepreneur” without any of the benefits. No group insurance rates, no labor protections, no reasonable business loans, and the costs of starting your own pharma, with all of it’s associated risks, are astronomical and suicidal. If you haven’t asked yourself whether all of the entrepreneur talk politicians keep touting will eventually lead to abuse and exploitation of workers without protections, now’s the time to think it over.
- And finally, the morons in Congress whose skinny necks you would like to wring right now are blithely and capriciously talking about significantly reducing the only retirement option left to you- Social Security. (BTW, see Charles Pierce’s destruction of David Brooks this week. Very satisfying. I strongly suggest David Brooks stay out of central New Jersey because there are a lot of unemployed cancer researchers who he finds indistinguishable from Maury Povitch trailer trash who would like to rip the face off of people like him- metaphorically, of course.)
You know those elected people in Washington? Yeah, I hate those people. I knew the bastards would be putting the screws to us before the election to make people panic and agree to anything. But I never thought they could be this clueless, savage or viciously cruel. I’m not afraid but I am extremely angry at both parties. And, Yes, I know one party is much worse than the other but it hardly makes a difference which party is the worst when both have now crossed the threshold to the dark side. That leaves the vast majority of us without representation but still paying taxes, unemployed or not. And taxation without representation fueled the last revolution.
We are living in a kleptocracy and Democrats did not try hard enough to keep it from happening. Everything you’ve ever worked for your entire life can be stolen from you piece by piece. Your career, your patents, your house, your pensions, your retirement nest egg and all of those extra taxes you paid into a Social Security plan. Promises can be broken, you could get screwed and end up dying poor and no one is held accountable.
Yep, what Washington, DC needs is a good power wash, on the inside.
P.S.- Working people who vote Republican because of social issues should have their heads examined.
One more thing: according to a new book by James Mann, Hillary Clinton and Timothy Geithner didn’t get along at the beginning of the Obama administration. Geithner was muscling Clinton aside when it came to dealing with China. It seems that Geithner wanted the Treasury department to be in charge of foreign policy with China and to concentrate solely on economics. Clinton wanted to address more than economic matters and wasn’t going to yield on China. There was a standoff and Clinton won. But she was overruled on the issue of ambassador appointments. Why is that significant? It’s because the ambassador that Obama appointed to China is none other than former Republican presidential candidate and wealthy chemical company scion Jon Huntsman. Yep, read it and weep, labrats. The guy that Obama appointed to China at a time when our jobs were hemorrhaging there was none other than a Republican chemical company guy who speaks Mandarin.
No wonder this administration doesn’t give a royal F#%* about the destruction of our American research industry. It was the plan all along. Right, Mr. Geithner? You guys did nothing to slow things down. In fact, you went out of your way to make it easier for our companies to relocate to Shanghai.
So, let’s review: the people who really didn’t get along with Tim Geithner were all women. They were Sheila Bair, Elizabeth Warren, Christina Romer and Hillary Clinton. I’m sure there are others but any woman who stands up to Geithner and disagrees with him is ok by me. All of these women proposed policies that were ignored by Geithner and the White House but would later turn out to be right. In every case, Geithner had the upper hand except in his interactions with Hillary, where she had a victory on overall policy with China but didn’t get to pick the ambassadors.
And we’re still not at war with Iran.
It’s amazing how so many Democratic party activists got it so wrong. I wonder how that happened, given that they supposedly do not fall for political mind tricks and propaganda…
Filed under: General | Tagged: congress, kleptocracy, Pensions, pfizer, power wash, retirement, The Strategy of No Strategy, White House | 35 Comments »