What Are the Chances of a Muni Doomsday? [View article]
Sadly, market forces play little in the answer to whether muni's will collapse or are a bargain. Like so much these days, it depends on whether states and municipalities will be backstopped by the Treasury and/or Federal Reserve. That, of course, depends on influence peddling and connections. "Rigged game" and "crony capitalism" don't begin to describe the current US markets.
Fiscally Irresponsible Friday: Trading for Magic Beans [View article]
The budget is interesting. Some of the items seem reasonable, but can someone please tell me where find a $350,000 house and pay less than $5,000 in property taxes.
Fiscally Irresponsible Friday: Trading for Magic Beans [View article]
Obama isn't much more of a Socialist than either Bush. Bush43 added $600B per year to the national debt by, in part, expanding government at a 10% clip per year. Why wasn't anyone calling that jacka$$ a socialist? Medicare drug plan? No child left behind? Sheez.
Book Review: John C. Bogle's 'Don’t Count on It!' [View article]
Interesting how the rise of importance (within the S&P500) of the financial entities mirrors the downfall of the country. Coincidence? Hardly. A strong, supporting financial sector aids the creation of wealth by the true wealth creating sectors (farming, mining, fishing, manufacturing). The growth of the banking/financial sector and government sector has made us into a country where one person is rowing the boat, 8 people are shouting "stroke", and all 8 people riders brought a bunch of baggage into the boat.
That's why the bankruptcy of Lehman was a good thing. We just need more bankster firms to fail so that the vampires they employ can get out of the way.
Why Index Investing Will Not Work for the Next Decade [View article]
Fair article. The author recognizes that index funds are appropriate for those unwilling to commit time to individual stock picking. Like most financial advisors, the author believes he's smart enough to beat the indices. The trouble is that only a minority of advisors actually end up beating the indices, and how is an individual investor supposed to identify beforehand those advisors that will?
Ryan, you're dead-on right. "Education" of the sort offered by Dr. Mason is one of largest bubbles in the country. Tuition has gone up 4-5 times the rate of inflation, yet look at what it's returned.
Dr. Mason, you and your ivory tower types are a big part of the problem with this country. Coddled, overpaid professorial types gouging the middle class out of precious savings while promising great returns. What a joke. Did you read about the dufus that took out $200k in loans to attend Northeastern University.
Most people in this country can get all the education they really need at a local community college.
Trillion Dollar Tuesday - More Free Money [View article]
All those conspiracy theories and "prophecies" about a 4th Reich and reincarnation of the Holy Roman Empire in Germany are starting to look less crazy.
Returning to Single Earner Household Prevalence [View article]
Therein lies the problem. My doctor and his lawyer wife work in careers fairly well insulated from global competition. They knock down well over $500k per year, for now. Not sure how un/under-employed working and middle class people will be able to keep paying their fees, though.
Few in Moscow on the Potomac seem to grasp how government spening, regulation, and meddling is not only NOT stimulative but is acting as a dead-weight on the private sector.
Eurozone Crisis: The Implications for the U.S. [View article]
Well said, and right to the point. I suppose Keynesianism may work in short spurts, here and there, but we're well past the point of diminishing returns.
If deficit spending could spur an economy, then we should be in major boom time right now after W's spending binge.
"Can't balance the budget if you refuse to raise taxes on anyone and refuse to cut benefits to our social programs."
Paynebb, mathematically, I'm sure you're right. Politically, however, I want to see financial blood ont the streets flowing from cuts in everything else, including defense, before taxes are raised or separately-funded Medicare or Social Security are cut. Examples:
1. Cut base pay for ALL federal workers so that NO ONE earns more than the median for private sector equivalent (it's been reported that federal workers earn 40% more the private counterparts).
2. Cut Congressmen's pay to $50k - they've failed. No one in Congress should earn more than $50k. Have them work a few days per year. We don't need more laws.
3. Eliminate counteractively all pensions, retirement benefits, etc. for former and sitting Congressmen until a zero deficit year has been achieved.
4. Other than US debt, all product and service suppliers be paid $0.75 on the dollar for what's owed and on any contract in place within our borders.
5. Shut down all Executive Branch Departments other than the 4 authorized by the Constitution - Defense, Justice, Treasury, State. Layoff all employees in other Departments (Ag, HHS, etc.). No pay, retirement, etc. benefits other than unemployment provided to private sector employees.
Ireland Offers Glimpse Into Fate of California, Other Municipal Bonds [View article]
Good points. Muni's will be the first place to invest, before treasuries, because the states and cities don't have the ability to print money, so they'll have to start whacking headcount and bennies (except maybe in the PRC and PRNY).
Except we're no where near 1941 in terms of seeing the light at the end of the tunnel, not with $14T in debt on the books and a whole lot more off book.
What Are the Chances of a Muni Doomsday? [View article]
What Are the Chances of a Muni Doomsday? [View article]
Fiscally Irresponsible Friday: Trading for Magic Beans [View article]
Fiscally Irresponsible Friday: Trading for Magic Beans [View article]
Book Review: John C. Bogle's 'Don’t Count on It!' [View article]
That's why the bankruptcy of Lehman was a good thing. We just need more bankster firms to fail so that the vampires they employ can get out of the way.
Why Index Investing Will Not Work for the Next Decade [View article]
First Recession Since End of WWI Where Government Help Isn't Trickling Down to the American People - Christopher Whalen [View article]
The Fed: Bubble, Bubble Everywhere [View article]
Dr. Mason, you and your ivory tower types are a big part of the problem with this country. Coddled, overpaid professorial types gouging the middle class out of precious savings while promising great returns. What a joke. Did you read about the dufus that took out $200k in loans to attend Northeastern University.
Most people in this country can get all the education they really need at a local community college.
Trillion Dollar Tuesday - More Free Money [View article]
Returning to Single Earner Household Prevalence [View article]
Payroll Jobs Miss Badly [View article]
Eurozone Crisis: The Implications for the U.S. [View article]
If deficit spending could spur an economy, then we should be in major boom time right now after W's spending binge.
Deflation and the Dollar [View article]
Paynebb, mathematically, I'm sure you're right. Politically, however, I want to see financial blood ont the streets flowing from cuts in everything else, including defense, before taxes are raised or separately-funded Medicare or Social Security are cut. Examples:
1. Cut base pay for ALL federal workers so that NO ONE earns more than the median for private sector equivalent (it's been reported that federal workers earn 40% more the private counterparts).
2. Cut Congressmen's pay to $50k - they've failed. No one in Congress should earn more than $50k. Have them work a few days per year. We don't need more laws.
3. Eliminate counteractively all pensions, retirement benefits, etc. for former and sitting Congressmen until a zero deficit year has been achieved.
4. Other than US debt, all product and service suppliers be paid $0.75 on the dollar for what's owed and on any contract in place within our borders.
5. Shut down all Executive Branch Departments other than the 4 authorized by the Constitution - Defense, Justice, Treasury, State. Layoff all employees in other Departments (Ag, HHS, etc.). No pay, retirement, etc. benefits other than unemployment provided to private sector employees.
Dare to dream.
Ireland Offers Glimpse Into Fate of California, Other Municipal Bonds [View article]
5 Surprises of the Great Recession [View article]