[briandilley]

Same thing happened to me in the early 2000's during the first dotcom crash. Except my contractor rate was nearly double my full time rate. It was rather dumb, but obviously they didn't bring _everyone_ back that they had laid off.

[anonymouskimmer]

Did you have a pension as an employee? Significant stock options?

[hinkley]

Nobody in America has a pension, and half the people who think they do are in for a rude surprise later on.

Boeing phased out their pension eligibility back in the mid 00’s as I recall.

[anonymouskimmer]

Exactly around the time the GP was laid off and brought back as a contractor.

I have a pension. It's guaranteed because it's a state government job and state governments in the USA are constitutionally forbidden from abrogating contracts (the Contract Clause, yeah, sure, there are exceptions, but this is unlikely to be one of them).

To fund it they spend 23% of my salary (some taken out of my salary, some additionally funded by them).

[hinkley]

Yeah I should probably say private sector.

However if government pensions did go belly up you’d see the use of QE, which will cause inflation, at which point they are still giving you the promised thousands a month but they aren’t enough to live on, and fuck everyone else over at the same time.