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DIBS —
“Do you have a 401k or an IRA???? You won’t be retiring anytime soon.”
This is what I’m talking about!! This is growth for growth sake. This is self-centered, greedy thinking. Maximizing profits is NOT the same as ensuring a company is healthy. The entire economy has been taken over by daytrader mentality. What’s in it for me? How fast can I make it happen?
8 or 9% “growth” is tempered by 4% inflation… and those that don’t have a portfolio with 8% growth are simply screwed by the 4% inflation… and, since we live in a community not a collection of libertarian atoms… those that are screwed will be supported by the wealthier, only to temper the whole growth thing anyway. Seems only the very rich get to keep all or most of their money and not be concerned with such trifling matters.
Financial reform package was 2000+ pages and there was no mention of :
FNMA/FHLMC reform. They were the creators of easy credit as manadated by Cuomo’s reforms in the 1990s and Frank and Dodd are still defending the GSE’s to the hilt.
Social Security/Medicare/Medicaid reform?
Nope, Govt is too busy with politicians like Rangel who want to be part of Ways and Means Commision as long as it doens’t impede them of taking advantage of system or following rules like other taxpayers.
DIBS, I’m of the camp that believe politicians are smarter than they are given credit for and that they look stupid and/or make stupid decisions cause they too focused on getting elected vs. doing the right thing – even if it’s unpopular with constituents. I view that a purposely bad governing which is a worst sin than making wrong decisions cause one is not smart
large companies are the least effective at creating jobs. the efficiency through scale will allow them to trim jobs, move jobs off shore, mergers & acquisition synergy cuts,…. the piling-on of legislation complexities is really F’ing small businesses who dont have the army of accountants, lawyers, HR,… to deal with these changes and most dont have the $$$ to withstand it long enough to survive it.
The craziest thing about available housing is that it grew at a rate faster than the population. Who the heck was going to buy up all that surplus, even before the market took a turn for the worse? There are only so many second homes people can buy and so many renters to fill the rest of the supply.
MM< I agree with everything in your post. My agrument is that the government can’t seem to focus on the right things. Money is being spent in some incredibly unwise directions.
They are not following any semblance of economic theory. The politicians ARE to blame and the result is going to be a massive vote-out in November.
m4l — Of course not. I think the housing industry is one that requires that magical RESET button. It’s also an industry that is addicted to this absurd notion of “growth for growth sake.” This includes the developers, builders, mortgages, and all the rest.
They should talk about getting rid of those taxes. For every break you offer someone, you create an additional tax burden some where else. I think a lot of tax breaks need to get axed, especially entitlement tax breaks. Just lower the damn income tax and create a VAT on all goods sold. I would rather have more of the money I earn in my pocket and decide how I spend it.
DIBS —
“Do you have a 401k or an IRA???? You won’t be retiring anytime soon.”
This is what I’m talking about!! This is growth for growth sake. This is self-centered, greedy thinking. Maximizing profits is NOT the same as ensuring a company is healthy. The entire economy has been taken over by daytrader mentality. What’s in it for me? How fast can I make it happen?
8 or 9% “growth” is tempered by 4% inflation… and those that don’t have a portfolio with 8% growth are simply screwed by the 4% inflation… and, since we live in a community not a collection of libertarian atoms… those that are screwed will be supported by the wealthier, only to temper the whole growth thing anyway. Seems only the very rich get to keep all or most of their money and not be concerned with such trifling matters.
It’s the politicians.
Financial reform package was 2000+ pages and there was no mention of :
FNMA/FHLMC reform. They were the creators of easy credit as manadated by Cuomo’s reforms in the 1990s and Frank and Dodd are still defending the GSE’s to the hilt.
Social Security/Medicare/Medicaid reform?
Nope, Govt is too busy with politicians like Rangel who want to be part of Ways and Means Commision as long as it doens’t impede them of taking advantage of system or following rules like other taxpayers.
DIBS, I’m of the camp that believe politicians are smarter than they are given credit for and that they look stupid and/or make stupid decisions cause they too focused on getting elected vs. doing the right thing – even if it’s unpopular with constituents. I view that a purposely bad governing which is a worst sin than making wrong decisions cause one is not smart
large companies are the least effective at creating jobs. the efficiency through scale will allow them to trim jobs, move jobs off shore, mergers & acquisition synergy cuts,…. the piling-on of legislation complexities is really F’ing small businesses who dont have the army of accountants, lawyers, HR,… to deal with these changes and most dont have the $$$ to withstand it long enough to survive it.
The craziest thing about available housing is that it grew at a rate faster than the population. Who the heck was going to buy up all that surplus, even before the market took a turn for the worse? There are only so many second homes people can buy and so many renters to fill the rest of the supply.
MM< I agree with everything in your post. My agrument is that the government can’t seem to focus on the right things. Money is being spent in some incredibly unwise directions.
They are not following any semblance of economic theory. The politicians ARE to blame and the result is going to be a massive vote-out in November.
By what authority would you replace capitalism with anything else? Capitalism is a natural consequence of limited government.
m4l — Of course not. I think the housing industry is one that requires that magical RESET button. It’s also an industry that is addicted to this absurd notion of “growth for growth sake.” This includes the developers, builders, mortgages, and all the rest.
They should talk about getting rid of those taxes. For every break you offer someone, you create an additional tax burden some where else. I think a lot of tax breaks need to get axed, especially entitlement tax breaks. Just lower the damn income tax and create a VAT on all goods sold. I would rather have more of the money I earn in my pocket and decide how I spend it.