Inflation rate is worst in 17 years

[screwballl]

The president can suggest economic packages.... but also if you look at bill ratifications and when they are set to actually come into effect, many times they do not come into effect until 2-6 years later in the name of long term growth.. so the recession and high prices we see today is due to much of those who were in office under slick willy. He did most of what was suggested to him by the economists that stay close to the president.
One spot where GW's economists saw a big problem coming was these new taxes and bills that were coming into effect and he sought to kill many of them before they started, cut taxes and give some small rebates back to the people as an economic incentive. With 9/11 happening so close to the start of his time in office, I understand that he took that opportunity to cut some of the porkbarrel and tax increases that were set to take effect about a year into his presidency which also helped prevent the economic crisis that could have happened due to Wall Street and other markets being closed and down.
That is one place that many conservatives fail to really see the cause and effect, raising the minimum wage also raises prices for all the basic services that rely on minimum wage workers. But when coupled with a tax break or cut, this helps offset the increase in prices, especially if small businesses are getting a large break as well.
That is also where Dems see things differently, raise taxes to raise federal income, to offset the tax raise they increase the minimum wage... but the problem comes in that when minimum wage is increased, the prices for the goods and services increase which means more taxes are added and collected which may be good for local tax collectors but not federal. As people spend more on the basic services, they spend less on luxuries and cause the economy to start a downturn within a few years. They are spending more on the basics and taxes so they have less to spend elsewhere which makes the rest of the economy suffer slowly.
Right now and for the next few years, only conservative spending will keep our economy alive and competitive. Get a Dem in office and you may as well till your back yard and plant your own food because we will see a massive depression starting around 2010-2012.

[Panda Man]

Stumble'd across this:

Recession The Donald Trump Reacts To Recent Events - PostWorthy

[Tech Geek Deluxe]

Thanks Panda ... I figured as much ...

Most here are mostly civil ... and seem to make efforts to be so and have reasonably founded opinions ... there are always those who are unteachable tho.

[Reloadron]

OK guys, lets make this into a game of sorts. The thread begins with Inflation Rate Is Up Worst In 17 Years.

Now if at all possible, can we forget the David Stockman trickle down theory as well as all former presidents. Matter of fact lets discount political parties all together. Further, I really don't give a damn who has or has not provided financial advice that was sound or sucked or who may or may not have been compensated for said advice. Matters not.

Right now looking at our US present economy things are less than pretty unless one is wearing rose colored glasses. Yes, the inflation rate is up but actually only up on some things 17%. The housing market is indeed a mess, matters not how it got there for this game. Unemployment is also up and again matters not. Those facts as well as others having an effect on the current US economy are just present variables.

The game is this. Prior to Christmas, to be exact on December 17th I converted an IRA I have to total cash holdings. I called my financial advisor and voiced my thoughts of recession and he agreed that converting to cash would be a wise move. This is an IRA I use as a sort of side thing. The wife and I each have 401K accounts that have done quite well. I also converted both 401K funds to a basic Vanguard Bond Fund which is here nor there right now.

The IRA consisted mainly of stock investments I would change as I felt fit. Right now following a pretty good 2007 it sits at about $235,000. Right now it is all cash as mentioned. What should I do? How should the cash be reinvested as we begin 2008 or should I wait?

We own a modest home in the Cleveland suburbs. The house value is maybe about $150,000 (Hey I said Modest). My kids are all grown and not a financial burden (thank God). We both hold good jobs with an annual income exceeding $120,000 which allows us to save. I will be 58 in February and Kathy is 60. I plan to retire at 62.

OK, so what do I do? How should I treat that IRA as of right now. I don't want to hear if Clinton or if McCain, I don't want to hear politics. I want to know what to do based on the current US economy. Should I sit on cash for awhile? Should I reinvest? Now if I reinvest how and why?

Another fun option is a Virtual Stock Market game. This would afford some to place their Virtual money where their mouth is. This would also show who has or does not have sound financial advice. Any interest?

Ron

[Jokerswild]

Originally Posted by screwballl

yeah keep dreaming Paul...

He's not dreaming he's being logical.

[Capper]

Originally Posted by Panda Man

Consider it countered :O But the reason I even brought it up is that certain people fail to even acknowledge that others have opinions, and if your's aren't in complete agreement with theirs, it's wrong.

And with that statement, the thread has run its course. Everyone has an opinion, everyone is entitled to their opinion........no one has sounded anymore "know it all" or condescending than yourself....my 19 yr old Alan Greenspan wannabee.

[MantaBase]

Originally Posted by Panda Man

I love how everyone here is trying to debunk me because of my age, yet I'm probably the only one here that's given financial advice to companies. ....I wasn't pulling stuff out of my ass, you're then ones assuming that I was and trying to discredit me. It's kind of flattering actually :P

Check the forum - this is in the members only area and in a political thread - I'm spicing things up.

You guys have it way too easy here at HL. With only a few exceptions this is a pretty conservative crowd. A bit of cage rattleing is good.

You did not see Paul grab the pop-corn?

Originally Posted by Capper

And with that statement, the thread has run its course.

Oh man....we almost made it to 10 pages!

Manta

[Capper]

Ok, have at it........no whining, no crying, and no more bullshit comments like

"....But the reason I even brought it up is that certain people fail to even acknowledge that others have opinions, and if your's aren't in complete agreement with theirs, it's wrong."

Thats a pussy cop out, and it really put me in a mood to start off my day.

[screwballl]

wooo thanks Rich

Originally Posted by Panda Man

Stumble'd across this:

Recession The Donald Trump Reacts To Recent Events - PostWorthy

I listened through the whole thing, and as much as I dislike him and his attitude, he knows money and he knows how to make money (otherwise he wouldn't have gotten rich the way he has). He makes some very valid points and although some is a bit of a stretch, much of it is very well thought out and explained.

[Jokerswild]

I'll admit I lean to the left more than the right but I'm not a democrat or republican or even independent, I just vote for who I think is best and what issues on the ballot in local elections that I believe in. But I do like giving republicans crap because they take everything so personal and are much more excitable.