"Xeno" wrote in message
...
On 18/11/19 12:19 am, Frank wrote:
On 11/17/2019 12:01 AM, Xeno wrote:
On 17/11/19 2:23 am, Frank wrote:
On 11/16/2019 3:44 AM, Clare Snyder wrote:
On Sat, 16 Nov 2019 01:53:23 -0500, wrote:

On Sat, 16 Nov 2019 15:39:02 +1100, "Rod Speed"
wrote:



wrote in message
...
On Fri, 15 Nov 2019 20:42:55 GMT, (Scott
Lurndal)
wrote:

writes:
On Fri, 15 Nov 2019 16:16:28 GMT, (Scott
Lurndal)
wrote:

writes:
On Thu, 14 Nov 2019 23:00:14 GMT, (Scott
Lurndal)
wrote:

writes:
On Thu, 14 Nov 2019 04:57:16 -0800 (PST), trader_4
wrote:



You do have to take into account the market had just crashed
and a
good percentage of that gain was just getting back to normal.
Keeping
a rally going is as hard as watching the recovery from a
crash.

I guarantee you there will be a big crash if they do succeed
in
removing Trump

Yeah, right. Removing trump will fire up the market assuming
his
successor manages to convince the rest of the world that trump
was an abberation instead of a new normal (but we're
still screwed in the long run due to the trump tax cuts and
insane annual budget deficits).

If you get democrats with the Sanders Warren tilt to their
politics
they will target corporations with excessive regulations and
taxes,
remove tax incentives to invest and generally scare investors
enough
to make 1929 or 2009 look like a minor correction in the
market.

Nonsense. Corporations existed for seven decades with more
stringent restrictions and taxes than today and we did just
fine.

We were not in a global economy then. There was no real
competition
and moving your operation offshore was much harder, if not
impossible.


and it might not be one we recover from in my lifetime.
The middle class still hasn't recovered from the malaise
after they
removed Nixon. .

You're confused again. The economic malaise had nothing to do
with
Nixon and everything to do with the embargo.

There are plenty of economists who say the middle class never
recovered.

Never recovered from _what_ exactly? From the embargo and
associated
economic malaise? Certainly not from the
impeachment/resignation,
which nobody gave a **** about after 6 months.

It started the political divide that still exists today and that
was
also when we decided deficits no longer mattered. The only thing
that
is holding down double digit inflation is the Fed's thumb on the
scale
and that can't last much longer. The only thing that is holding
up the
economy these days is the blind faith and credit of the US.
I am not going to say Trump did any better but it is a 45 year
old
problem, not helped by a forced resignation and what will now be
two
impeachments. That does not bode well for the republic.
The day the world markets decide we are really just another
banana
republic selling worthless paper, interest rates will spike and
we
won't be able to cover them with our revenue.
We take in about $2.4 trillion if you exclude FICA that is spent
before we even get it and at a Carter era interest rate (11-12%)
that
would barely cover the interest on the $22T debt.
That leaves nothing for anything else the government needs to
spend
money on. Taxing the Forbes 400 at 90% won't even make a dent in
that
deficit. All it will do is make them move their money offshore
making
our problems worse.

Your saying it, doesn't make it true. Provide some citations to
actual,
you know, research that supports your supposition.

Which part confuses you? That Carter had a 11-12% interest rate on
federal paper. That is fact
That the debt is $22T? Fact
That 12% of $22T is $2.64T? Fact
That the total revenue minus the FICA is $2.4T? Fact
That the fact that the FICA is not even covering the outlay for the
people we promised it to? Fact

You can't just say "NO" without being ready to tell me what part is
wrong. Tell me which one is not true.

Interest rates on govt debt arent going back to 11-12%

And you know this how?


Mortgage rates were 22% when I bought this house. Fortunately I was
able to assume the 6% existing mortgage on the property!!!!


Mine were 9% and they were heading up after that. Smart thing I did
was take 20 year mortgage and pay it off in 18.

Mine started at 13%, rocketed up to 18% forcing me to do two jobs in
order to keep the house. It too was 20 years but paid it off in 13. Life
became easier after that - until I became sick in 2001 and, after a long
period on sick leave, was forced into very early retirement. All my
plans went just a little awry! :-(


I was forced to retire early too. I had accumulated enough vacation pay
to pay off the house and get a new kitchen floor. Son's had finished
college and all was paid for. Our eldest son who is the same age I was
when I retired has his house paid off and our youngest son is near there
too. I started consulting and still do a bit today. Never had any
financial woes.

I had financial woes until the house was paid off. Been Ok since then. I
was a teacher in a technical college but now I tutor PhD research students
from a non English speaking background to fill in time. My current student
of the past 9 years will graduate next month so I will have to attend.
That will entail a 2800 kilometre round trip by car. 15 solid hours of
driving in each direction.

Makes more sense to fly and cheaper too.

You are lucky on your pension.

I was indeed very lucky. It was a defined benefit super scheme indexed to
cost of living for life and, should I predecease her, 2/3rds to my wife.

Most businesses today are not offering them.

Same here. Totally different scene with super pensions these days.

They give you extra for your 401k and when you are no longer working
there you are done with them.

We don't have a 401k here so I am not sure what that is.

Basically the same as our self managed super.

A quick check of Dr Google tells me it is much like the super schemes we
now have here with either a lump sum payout or a retirement income stream.

Its actually close to our self managed super with some differences.