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Re: How Boom of 2006 Ended - Article
Old 10-13-2005, 12:09 AM   #61
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Re: How Boom of 2006 Ended - Article

Cut-Throat,

Perhaps I should have left off from the worst possible senerio, the bit about Republicans losing. I expect that to happen followed by tax increases. That is not to say that a Republican white house would not raise taxes. Who ever is in power as the entitlements and other bills come due will be forced to raise taxes, cut benefits and print money. I see no other solution.

My point was not to take a back handed shot at Democrats. I avoid reading the sometimes harsh point and counter point of political debates here. The animus exchanged during the election on the AARP boards soured me from engaging or reading them. No one changes their stance and only too often members are lost and the comarade of the group is jeopardized.

Mea Culpa for the inclusion of a political party in my economic prediction.

To be honest about my politics, I am conservative but truely believe that after too many years, local, state, and national governments need a change of party control. I once lived in a state where one party remained in power over 30 years and the lawmakers, party officals, and bureaucrats jammed the states machinery to the point of decay.

My economic prediction stands.

The replacement of Arthur Burns as Fed chairman and a change of economic *policy by the incoming administration did end the stagflation. I am not sure that Regan would be the man for these times as I felt he was for those. In fact Greenspan said today that economic flexibility and technological improvements to better utilize capital, enabled the U.S. to weather the recent economic disruptions. I agree with him. Any benefit of the Bush tax cuts has been offset by increased government spending with no end in sight.

The looming bills will come due during the next 8 - 10 years no matter who wins the white house. The party in power better have a great response. As for me I continue to reallocate to better survive possible hard times while not forgoing upside potential if I am wrong. My mantra is 'dividends' and my hope is that the current capital gains tax rate will remain intact.

As for *'get a rope' ... I don't eat no New York made chilli or picante sauce.
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Re: How Boom of 2006 Ended - Article
Old 10-13-2005, 06:44 AM   #62
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Re: How Boom of 2006 Ended - Article

Hey kids, in line with the notion that the gummint will send the dollar into the ditch via excess spending: fire sale currently going on for GIM. It is at a roughly 7% discount to NAV, which is pretty attractive if you want unhedged foreign bond exposure. I may be adding some today...
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Re: How Boom of 2006 Ended - Article
Old 10-13-2005, 07:13 AM   #63
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Re: How Boom of 2006 Ended - Article

Quote:
Originally Posted by HaHa
Cutthroat,

I just noticed that cool new avatar you have. I can't remember ever seeing a trout take a flying bug, but you have spent a lot more time on the river than I. Does this happen?

Ha
While we are waiting for C-T

Personally, I love discussing politics (or most anything else)
Sure people get testy. What's wrong with that?

Off topic and for your amusement, the other night I was talking on
the phone and said (to somone) "Yep, my brain is workin' 24/7!"
DW was passing through and observed, "So is your mouth!"

Elvis has left the building.................

JG
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Re: How Boom of 2006 Ended - Article
Old 10-13-2005, 07:31 AM   #64
 
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Re: How Boom of 2006 Ended - Article

Quote:
The replacement of Arthur Burns as Fed chairman and a change of economic* policy by the incoming administration did end the stagflation. I am not sure that Regan would be the man for these times as I felt he was for those. In fact Greenspan said today that economic flexibility and technological improvements to better utilize capital, enabled the U.S. to weather the recent economic disruptions. I agree with him. Any benefit of the Bush tax cuts has been offset by increased government spending with no end in sight.
Ol_Rancher,

You'd better get your facts straight. It was Jimmy Carter that appointed Paul Volker to the Fed. Volker replaced Burns in 1979. 2 Full years before Reagan Became President. This is what caused the Prime rate to go to 20% and end Inflation. You Cons have spun this story so often, you seem to believe in fantasies.

So now that we agree that it was the replacement of Burns by Volker that turned the economy around. You just need to give the Proper credit to Jimmy Carter.

Mikey,

I have had that avatar of the trout eating a fly for over a year. Glad you like it. And yes trout do that.
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Re: How Boom of 2006 Ended - Article
Old 10-13-2005, 11:43 AM   #65
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Re: How Boom of 2006 Ended - Article

Credit given.

I thought that Paul Volker was the greatest and irreplacable. Alan Greenspan has proven to be as good if not better (IMHO). I do miss the outgoing nature of Volker and his everpresent cigar. I was suprised that Volker got involved in the mess at the U.N..

I hold my breath until learning who Bush choses to replace Greenspan. This is one time I expect Bush or any president to rise above politics and appoint the best. This appointment is more important to me than the replacement nominee of Sandra Day on the court.

I am glad we have found common ground and have returned to economic issues. I have come to value your input on financial topics and the economy.
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Re: How Boom of 2006 Ended - Article
Old 10-13-2005, 12:56 PM   #66
 
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Re: How Boom of 2006 Ended - Article

Quote:
Originally Posted by Ol_Rancher
I am glad we have found common ground and have returned to economic issues. I have come to value your input on financial topics and the economy.
Ditto what you said! 8)
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