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Re: Play devil's advocate with me
Old 09-22-2005, 01:33 AM   #21
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Re: Play devil's advocate with me

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Originally Posted by wabmester
And TIPS.* And keep working, since wages will track inflation better than just about anything else.
Have you gone back to work, Wab? You've posted a couple of "keep working" posts today.

I know that I'm still keeping myself involed in technical/professional activities a little bit. Part of the reason is because I'm enjoying it. Part of the reason is that it seems like a healthy hedge against economic crisis in the future (like rampant inflation).
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Re: Play devil's advocate with me
Old 09-22-2005, 01:58 AM   #22
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Re: Play devil's advocate with me

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Originally Posted by ((^+^)) SG
Have you gone back to work, Wab?* You've posted a couple of "keep working" posts today.

I know that I'm still keeping myself involed in technical/professional activities a little bit.* Part of the reason is because I'm enjoying it.* Part of the reason is that it seems like a healthy hedge against economic crisis in the future (like rampant inflation).
No job for me (although I do get a few more free hours now that my kid is in preschool), but I guess as an ER, I feel a responsibility to scare people away from taking as much risk as I'm taking. Cutting the job cord at 40-50 could be a serious mistake unless you've got both a large cushion and a viable plan B. I don't think the Pollyannish talk about "life is short, quit your job" and "hey, I've been retired for three years, and my net worth is still rising" is a responsible message from ERs.

The reality is that a good income is hard to get from passive investing, and it may get much harder. I've seen people un-ER, and it's not pretty.
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Re: Play devil's advocate with me
Old 09-22-2005, 07:52 AM   #23
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Re: Play devil's advocate with me

Let's not get too alarmed over this journalist's "economic analysis." Consider this statement he made: "And borrowing is how we'll pay for the additional tax cuts that Congress is likely to consider next month." The data simply doesn't back up that statement. The facts are that the cut in marginal tax rates yielded a 14% YOY RISE in government revenues. That's why the deficit was actually shrinking vs. projections prior to Katrina. The opportunity is on the spending side...where Republicans have failed miserably. Maybe they'll find some intestinal fortitude and start slashing some of the pork they approved in the most recent session. The highway bill monstrosity is a good place to start.

With long rates so skinny (4+%), an argument could be made that financing debt at these levels is actually a good thing for the Feds. Don't see how the foreigners who buy our debt can come out ahead on that trade. Before someone tells me that long rates are destined to rise precipitiously, let me squash that by telling you I've heard that for the last 3 years, and it ain't happened yet.
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