© Mike, aka "redgum" School is out forever.

RANK INCOMPETENCE: Losing 45 Million Plus in Springfield, Oregon

PERS Truth: The Destruction of our Schools and Families Written by Fred M. Starkey In early 2000, to cover their PERS debt, the Springfield School District, sold 62 million of Pension Obligation Bonds at 4.5% for 20 years. This was a new debt obligation of 62.00 Million of principal and 55.80 million of interest payments: a total debt obligation of…

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PERS: Oregon's Grand Delusion Photo 2

PERS TRUTH: Springfield School District

Written by Fred Starkey More School Debt? No. I have lived in Springfield for 25 years and every election cycle The School District wants more taxes. In 2006 the Springfield News published “Oregon’s Grand Delusion” where I stated that PERS cost of payroll would go from 12% to 28%: today it is 28%: a perfect forecast. *3 This means: the…

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Ron Paul 2007 portrait--Public Schools

PERS TRUTH: Why Public Schools are Obsolete

Written by Fred Starkey [A light in the firmament] Remember the wax candle, the buggy whip, the washboard, the Edsel Car, the Rambler, and other products and industries that did not change as the economy moved forward.  They are gone. Were any tears shed?  Life moved on. I have always been amazed how the free market brings innovation, creation, and…

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PERS Photo

PERS – Pension Obligation Bonds, Lies and Incompetence

PERS 2006 Redux: Oregon’s Grand Delusion In 2006 “Oregon’s Grand Delusion” was published. This article gave the historical traits and the consistent schematic of these financial frauds that are sold to people with magical thinking: Tulip Mania, the South Sea Bubble, assorted Ponzi Promises, and today it is PERS of Oregon. The mental grip on these frauds is psychological, not…

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Pers Fraud Photo

PERS: Lies, Distortions, and Fraud

A Retort to Paul Cleary On PERS (Fraud): By Fred Starkey PERS, this “Fraud and Swindling Scheme,” as Kindleberger would say I have been researching the PERS (Public Employees Retirement System) for 12 years. In that time, I have never found anyone in the State of Oregon who understands PERS, including Paul Cleary.  Of course, from my background, I have an advantage:…

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PERS: Oregon's Grand Delusion Photo 2

PERS: Oregon’s Grand Delusion

The Delusion of Oregon’s Public Employees Retirement System (PERS) is in a crisis that will, if extreme measures are not taken, destroy the faith and credit of Oregon’s State Government. Misinformation has been the way with PERS. No one knows the truth because of deliberate deceit and, for the most part, ignorance. This includes our Oregon Congressmen, City Councils, Commissioners, and…

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Cartoon of Thomas Nast

PERS Ponzi: Springfield Goes To Wall Street

In 2002 the Oregon Public Employees Retirement System (“PERS”) went unofficially bankrupt. The reason was because the government promises of permanent 8% returns were impossible to keep. Here’s why: the financial markets produce a return on investment based on a “risk/reward” ratio. The higher the return, the higher the investor risk and accompanying volatility – meaning a concomitantly higher risk…

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