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FENCEMAN,

I'll keep working on opening those links, I have an older personal computer so sometimes the links don't work for me for some odd reason, but without even opening some guys opinion about the stock market let me say this. The stock market has always been a good place to invest money. Yes it goes down at times but that is the time to buy !! Not now. Any one who is buying stocks now with a record high dow is setting themselves up for a loss !! Now I don't know how the city invests the money to grow. But I can tell you one of my mutual funds I have is up 31% since I bought it when the dow was 8,700 3 years ago or so. When the dow drops I will buy more. I don't believe in the theory to buy mutual funds or stocks every month for an overall average. I like to wait unti people are bailing and selling and are running scared. Because as long as this nation exists and is not crashing and burning there will be a successful stock market. Why people are buying now into the stock market is beyond me. The economic numbers are terrible right now. But, hey we will take the surge in stocks. So 6% returns in pension investments is very attainable and I would think 8-12% is more likely. Bonds are doing horrible now. Which probably is where the pensions are located because it is a "safe" place to put the money. May be that is the problem? Perhaps how the pensions are invested is where we should be looking at. But lets be honest. I don't know about Warwick but other cities and towns in the state were literally stealing from the pension system to pay for other things (corruption). Changing gears, does the city really need all these fire fighters ?? My goodness how many fires a year does Warwick average??? May be 10 or less. 1 a month? May be that is on the high side. Couldn't we always just call a neighbor city or town to assist like they do in more rural areas that can't afford such a bloated fire dept. Look at the problems in Coventry. Some folks are paying thousands more to pay for the fire dept. services. I'm sure they wish they never got away from volunteer fire fighters. There are more than enough eager young men and women that would love to volunteer, or be on call. The fire dept. has not done a good job with their budget. It is disgusting to watch as a tax payer. If my house ever caught on fire, yes it would be sad, and as long as everyone is safe that is all that matters. I would take the insurance money and move the heck out of this city !!! Owning a house doesn't ever have its perks any more in this state. Too many taxes.

From: Mayor touts city's financial position

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