Who needs a job? $22.15 per hour!

USPS will be hiring letter carriers at $22.15hr starting on 8-8 apply online www.usps.com. careers/ milwaukee.
Good job for someone who is unemployed

Isn't this the same USPS that is nearly bankrupt?

bigdaddy1 said:

Isn't this the same USPS that is nearly bankrupt?

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Yes, but that has to do with the advance funding of unfunded retirement liabilities that were mandated by congress on a timeline that was not realistic to meet. It has relatively little to do with day-to-day operation of the company (which, by the way, is also mandated by congress). In short, it's only "bankrupt" on paper and because of federal retirement stuff.

amaixner said:

Yes, but that has to do with the advance funding of unfunded retirement liabilities that were mandated by congress on a timeline that was not realistic to meet. It has relatively little to do with day-to-day operation of the company (which, by the way, is also mandated by congress). In short, it's only "bankrupt" on paper and because of federal retirement stuff.

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No offense, but this is rather sloppy thinking on the part of whoever told you this. I would like to correct the false impression you were given for yourself and any other readers. But, let me come back to that. If a guy needs a job, there are worse, more parasitic government jobs he could do.

I would also like to point out I really don't know the state of the USPS finances, so I'm really only addressing the comment abstractly.

Back to saying bankrupt on paper. First, "on paper" is the only way to know if a business is bankrupt. If it is bankrupt on paper, then it really is bankrupt.

Meeting financial obligations with cash infusions you don't have to pay back is a spurious way to avoid saying you're bankrupt. In the case of government, which can seize other people's money (taxes), one must also subtract the free cash infusions to see whether the supported business would fail to meet its obligations.

We can look at another example to illuminate this further. The fedgov is described as having liabilities in the range of $54T. That's trillion with a t. So, how come its not bankrupt? There's no possible way it can pay off all that, even with taxes. Well, actually it is bankrupt. The fedgov and its co-conspirators, the Federal Reserve, have another term they use: default. If the fedgov were to default on debt payments, there would be no way to avoid the term bankrupt. Miss even one payment, and no amount of spin will be accepted. As long as the fedgov--the treasury--can keep the shuffle going, the hyperimportant point is solved: everybody who is owed money gets it on time. Nobody cares about the semantics as long as they receive the money.

Former Federal Reserve chairman Alan Greenspan let the cat out of the bag in a TV interview. The US will never default because it can print money at will, he said in so many words. Understand that the actual activity is a little more complicated; printing money is just a term to denote the more complex process. But, it carries the essential meaning. Basically, the fedgov prints treasury bonds, and the Federal Reserve adds zeros to a ledger in its books, and (shazam!) $50B is created out of thin air. (Don't take my word for it; look it up.) There is a bit more to the process, like a broker who buys the bonds from the treasury as an agent for the Federal Reserve. But, the essential action is the same; money is created out of thin air.

So, as long as money can be created out of thin air by the fedgov and its co-conspirators at the Federal Reserve, they can keep on creating as much money as they want in order to make debt payments and avoid default, or so they claim. Avoiding default by just creating more money is just more spin. The additional money, the newly created money, causes price inflation which is another way of saying "the money ain't worth as much". Thus, when they create $50B out of thin air, it isn't worth $50B. It is only worth $50B minus the price inflation it caused. If the inflation caused by this money creation is 3%, then the $50B created out of thin air is actually worth 3% less which is another waying of saying $1.5B is lost. This mechanism is actually a little more complicated because time is involved, and who gets the new money and how long they hang onto it. But, those are the essential points.

The new money causing inflation that reduces the value of the money already existing and being worth less itself is the whole reason the Chinese balked a while back when Bernanke cranked up QEII (Quantitative Easing Two). Quantitative easing is just code for create lots of money out of thin air. In this case, to the tune of about $700B across several months. $700 billion. The Chinese, who hold large amounts of treasury debt, knew that creating new money out of thin air reduces the value of both the money that already exists and its own value. Thus, the Chinese knew that the money they would eventually be paid on the US debt they held would be worth less. Which is another way of saying, the money they get as payment on the debt they hold won't be as valuable as the money they loaned when they bought the debt. Thus, they (and everybody else who holds treasury debt) are being paid off today with dollars that are worth less than the dollars they used to buy the debt.

So, if you are paid off with money that is worth less than the money you loaned, you're not really receiving your full payment. Which is really no different than me owing you $300 but only being able to pay you $250 on the day it is due.

People instinctively know they are losing money if price inflation is higher than the return on their investment. It is only when complexities like time, inflation, etc., cloud the picture that the fedgov can get away with convincing people it isn't defaulting on its debt by paying off in dollars that are worth less. The test is to take away the ability to get money created out of thin air and make debt payments only from tax money that comes in. The fedgov is bankrupt, and has been for some time, playing a shuffling game, trading newly created money worth less to pay off its obligations.

A good summary of a complex problem.

Citizen said:

I would also like to point out I really don't know the state of the USPS finances, so I'm really only addressing the comment abstractly.

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Here are a couple of articles dealing with the financial problems with USPS.

http://www.federaltimes.com/article...S-broke-by-August-2012-No-2-official-predicts

http://www.blippitt.com/usps-broke-postal-service-near-collapse/

Wow!!!

I wish there was a Like button on here!!!

i would have to pass on this offer. going into bad neighborhoods, unarmed save for some dog repellant. i would hope that the 'mail would go through', as any delay in 'social' payments might spark a public outcry. not to mention cold in the winter, and hot in the summer. i have done enough of that. my next job will be at a place, with guns, and air conditioned i hope, as well as a better clientel.

Here is the interview where Alan Greenspan reveals that the US will never default because it can always just print more money.

Watch the expression of the guy sitting to Greenspan's left. Priceless.

http://www.youtube.com/watch?v=oZhP85vsBgw

Glockface said:

USPS will be hiring letter carriers at $22.15hr starting on 8-8 apply online www.usps.com. careers/ milwaukee.
Good job for someone who is unemployed

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I find that hard to believe for newly hired. I retired in 2011 with 36 years of service and was just making a bit over $27 per/hr as a clerk and the carrier craft has the same pay scale as we did. And I was at the highest pay level in the craft. But if true and you want to live forever then I would encourage all to apply as I found out when I was working there every day was an eternity.

94 at Large said:

I find that hard to believe for newly hired. I retired in 2011 with 36 years of service and was just making a bit over $27 per/hr as a clerk and the carrier craft has the same pay scale as we did. And I was at the highest pay level in the craft. But if true and you want to live forever then I would encourage all to apply as I found out when I was working there every day was an eternity.

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Very nice turn of phrase.

A variation might be, "This job proves immortality. Every day is an eternity." (Gracefully bowing to deserved applause for my creativity. )

Maybe the USPS web site is full of beans!
TITLE: CITY CARRIER (TRANSITIONAL EMPL-MOU) -- THIS IS NOT A CAREER POSITION
FLSA DESIGNATION: Non-Exempt
OCCUPATION CODE: 2310-0031
HOURLY RATE OF PAY: $22.15

https://wd2-portal.usps.gov/sap/bc/...eroot=/SAP/PUBLIC/BC/UR/nw5/themes/USPS_SMALL

And free AR-15s !!!!:lol:

Citizen said:

Very nice turn of phrase.

A variation might be, "This job proves immortality. Every day is an eternity." (Gracefully bowing to deserved applause for my creativity. )

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Nice.

When the Red Cross had a blood drive going on I would be asked by a supervisor if I was going to give. My response was that I had nothing for them as the place had sucked the life out of me. No blood in my veins and live forever, felt like a vampire and the decades of nights I had to work I nearly became one.

Many may think I was a disgruntled employee but actually far from the truth as it provided me with what I have today. It was a job and I learned very early in my career that I worked at that job to the best of my ability, which was usually far better than most, and expected nothing in return. I wasn't one to need encouragement or recognition from incompetents. We had an unspoken agreement, I would work 40 hours a week and they would pay me every other week. As far as I was concerned we were square.

Post office is broke haha , good for them

I used to drive for a company that hauled the U.S. mail out of Milwaukee and other eastern WI. post offices . Many times when I would get to Milwaukee .I would have time before being loaded/unloaded and could walk to the restroom or get some coffee . It was not unusual to see forklift drivers sleeping on the forklift if they had no truck at the dock they were assigned to cover . Big salaries and nap time is why the post office is broke .

This is pretty high for mail carriers to pay there drivers honestly, there has to be a catch.

This is walking a mail route and not driving all day.

As a transitional employee, you also won't get benefits for a year under the current contract and you're basically a "temp". When/If a "career position" opens up, you would have "seniority" over new hires. So that's part of the reason the pay is a little higher. But even as high as it is, it's still pretty low compared to the pay that "career position" employees are getting that have been there for a number of years. This is part of what USPS is trying to do to get themselves in the black again: trying to encourage the older folks to retire now and then filling in the ranks with new blood at a much lower cost.