the conceit of central banks

[BraveUlysses]

Yeah.
Most people here are paid well enough that they don't stick around that long. Pension + 401k matching + excellent benefits = peace out

My dad worked here for 20+ years and retired in his 50's. All without needing a 'financial advisor' like gwb :rofl:

[nando]

Boeing?

we have a lot of soon to be retirees here too. an excellent engineer I've been working with for the past 5 years just retired a couple weeks ago. I believe he was closing in on 70 - he could easily continue working, but I think he's just tired of the crazy schedules and entering dangerous places.

[BraveUlysses]

Where I work, we have a large percentage of baby boomers who will be retiring in the next 5-10 years, but honestly I can count the number of competent 60+ year olds I've worked with on one hand.

And they did increase the SS eligibility age from 65 to 67

[nando]

I have some respect for Paul Ryan

I think the retirement age should be linked to life expectancy - like an inflation index. when SS started, most people didn't live to be 85-90 years old. To me, retiring at 60-65 seems crazy. The 60-65 year olds I know that take care of their health are in better shape than many 40 year olds, and as far as work goes, the accumulation of experience and knowledge seems like a shame to throw away sitting around the house while your mind wastes away.

I know people in their 50s who have retired because they can. Good for them, but to me, it's like, now what do I do? sit around for 30 years waiting to die?

[rwh11385]

nice ad hominem attack from the master. but oh so predictable.

and attacking me for using data off the web is particularly rich bob, coming from the current cut and paste master of the r3v

Are you denying that it is intellectually dishonest to present someone else's work as your own?

I cite where I get data. Not just reposting some crazy lunatics content from a blog. You should try to back up your claims with data along with personal analysis, instead of just vomiting bullshit constantly that you took from someone else.

thank you
but in rwh's krugman laced fantasy world, having to reign in overspending is really austerity. its greece and others formulating how to throw their populations into permanent recession/depressions, just for the fun of it all.
amazing economic insight from bobby. did you actually graduate roberto?
and greece facing 13% sovereign debt rates meant what exactly bob? how much the world loved greece and wanted them to continue their overspending that your daddy krugman thinks is the road to prosperity?
wow

Uh huh. Only problem is all of the stupid fighting hasn't been about the cause of deficits... it's been pointless brinkmanship over discretionary spending while avoiding unsustainable increase in mandatory spending due to rising healthcare costs and you and your generation.

But don't let facts get in your way, you never have.

And when facts do show you are mistaken, you simply change subjects and move on to repost some drivel or a cartoon, instead of admitting your opinion was wrong?

Such as:

How can EB be the single best category for the last 1, 3, 5, and 10 yr time periods if Small Growth, Small Blend, Consumer Cyclicals, and Health stocks trump it?

Krugman would agree with Paul Ryan that the problem is mandatory spending costs rising, although they obviously don't see eye-to-eye on how to solve it. But instead of the left and right talking constructively to find solutions, the Tea Party seemed to just want to burn everything down.

Ironic phrased used, the road to prosperity, very close to The Path to Prosperity: Restoring America's Promise. [Paul Ryan's / GOP's budget proposal for FY2012] Too bad the conversation got hijacked before anything could come of it as far as bipartisan entitlement reform.

Even if his plan was based on bad Excel work and is purposefully vague about his solutions (modernizing retirement age), Paul Ryan is actually talking about what matters.

http://online.wsj.com/article/SB10001424052702303442004579123943669167898.html?mod=WSJ_Opinion_LEADTop

If Mr. Obama decides to talk, he'll find that we actually agree on some things. For example, most of us agree that gradual, structural reforms are better than sudden, arbitrary cuts. For my Democratic colleagues, the discretionary spending levels in the Budget Control Act are a major concern. And the truth is, there's a better way to cut spending. We could provide relief from the discretionary spending levels in the Budget Control Act in exchange for structural reforms to entitlement programs.

These reforms are vital. Over the next 10 years, the Congressional Budget Office predicts discretionary spending—that is, everything except entitlement programs and debt payments—will grow by $202 billion, or roughly 17%. Meanwhile, mandatory spending—which mostly consists of funding for Medicare, Medicaid and Social Security—will grow by $1.6 trillion, or roughly 79%. The 2011 Budget Control Act largely ignored entitlement spending. But that is the nation's biggest challenge.

The two political parties have worked together on entitlements before. In 1982, Social Security's trustees warned Congress that the program would go bankrupt within a year. If it had, seniors would have seen an immediate cut in their benefits. Instead, Congress passed a package of reforms—the most important of which was an increase in the retirement age. Because Congress phased in this reform over time, there were no budget savings in the first five years. But through 2012, the savings were $100 billion. In the next 75 years, Social Security's actuaries expect that these reforms will save $4.6 trillion.

Just as a good investment gets higher returns through compound interest, structural reforms produce greater savings over time. Most important, they make the programs more secure. They protect them for current seniors and preserve them for the next generation. That's what the president and Congress should talk about.

Here are just a few ideas to get the conversation started. We could ask the better off to pay higher premiums for Medicare. We could reform Medigap plans to encourage efficiency and reduce costs. And we could ask federal employees to contribute more to their own retirement.

The president has embraced these ideas in budget proposals he has submitted to Congress. And in earlier talks with congressional Republicans, he has discussed combining Medicare's Part A and Part B, so the program will be less confusing for seniors. These ideas have the support of nonpartisan groups like the Bipartisan Policy Center and the Committee for a Responsible Federal Budget, and they would strengthen these critical programs. And all of them would help pay down the debt.

But, I guess you were busy stuffing that strawman, playing guilt by association, and generally denying / ignoring facts to get that. You kinda focus on me sharing the facts that Krugman point out but ignore when I quote Paul Ryan?

[gwb72tii]

What about having some integrity and cite sources instead of plagiarizing? Instead of thinking for yourself, you steal someone else's work as your own. But I guess that is not too dissimilar from you taking investing "insight" from your minions and presenting it to clients as your own.

http://www.zerohedge.com/news/2013-08-21/33-shocking-facts-which-show-how-badly-economy-has-tanked-under-obama

ZH, what a shocker.

nice ad hominem attack from the master. but oh so predictable.

and attacking me for using data off the web is particularly rich bob, coming from the current cut and paste master of the r3v

[gwb72tii]

"Austerity" - a word seldom used before 2008 - was actually a requirement for countries to join the EU/Euro monetary zone. Although that "requirement" was pretty much a false alarm and wasn't regarded as a requirement for countries like Greece or Italy, way back when.
Back then I think they called it reasonable spending and the decisive number was the debt to GDP ratio. I don't recall the consecutive low percentages they would've liked to see but today there wouldn't be an EU if they'd stuck to it, or it would be much smaller.

thank you
but in rwh's krugman laced fantasy world, having to reign in overspending is really austerity. its greece and others formulating how to throw their populations into permanent recession/depressions, just for the fun of it all.
amazing economic insight from bobby. did you actually graduate roberto?
and greece facing 13% sovereign debt rates meant what exactly bob? how much the world loved greece and wanted them to continue their overspending that your daddy krugman thinks is the road to prosperity?
wow

[rwh11385]

here's a few more econ stats during the messiah's presidency. he's been in for 5 years, it's on his watch. have some intellectual honesty to to at least put some of the blame on your daddy

#1 When Barack Obama entered the White House, 60.6 percent of working age Americans had a job. Today, only 58.7 percent of working age Americans have a job.

#2 Since Obama has been president, seven out of every eight jobs that have been "created" in the U.S. economy have been part-time jobs.

#3 The number of full-time workers in the United States is still nearly 6 million below the old record that was set back in 2007.

#4 It is hard to believe, but an astounding 53 percent of all American workers now make less than $30,000 a year.

#5 40 percent of all workers in the United States actually make less than what a full-time minimum wage worker made back in 1968.

#6 When the Obama era began, the average duration of unemployment in this country was 19.8 weeks. Today, it is 36.6 weeks.

#7 During the first four years of Obama, the number of Americans "not in the labor force" soared by an astounding 8,332,000. That far exceeds any previous four year total.

#8 According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

#9 When Obama was elected, the homeownership rate in the United States was 67.5 percent. Today, it is 65.0 percent. That is the lowest that it has been in 18 years.

#10 When Obama entered the White House, the mortgage delinquency rate was 7.85 percent. Today, it is 9.72 percent.

#11 In 2008, the U.S. trade deficit with China was 268 billion dollars. Last year, it was 315 billion dollars.

#12 When Obama first became president, 12.5 million Americans had manufacturing jobs. Today, only 11.9 million Americans have manufacturing jobs.

#13 Median household income in America has fallen for four consecutive years. Overall, it has declined by over $4000 during that time span.

#14 The poverty rate has shot up to 16.1 percent. That is actually higher than when the War on Poverty began in 1965.

#15 During Obama's first term, the number of Americans on food stamps increased by an average of about 11,000 per day.

#16 When Barack Obama entered the White House, there were about 32 million Americans on food stamps. Today, there are more than 47 million Americans on food stamps.

#17 At this point, more than a million public school students in the United States are homeless. This is the first time that has ever happened in our history. That number has risen by 57 percent since the 2006-2007 school year.

#18 When Barack Obama took office, the average price of a gallon of regular gasoline was $1.85. Today, it is $3.53.

#19 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#20 Health insurance costs have risen by 29 percent since Barack Obama became president, and Obamacare is going to make things far worse.

#21 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

#22 According to economist Tim Kane, the following is how the number of startup jobs per 1000 Americans breaks down by presidential administration...

Bush Sr.: 11.3

Clinton: 11.2

Bush Jr.: 10.8

Obama: 7.8

#23 In 2008, that total amount of student loan debt in this country was 440 billion dollars. At this point, it has shot up to about a trillion dollars.

#24 According to one recent survey, 76 percent of all Americans are living paycheck to paycheck.

#25 During Obama's first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.

#26 The total amount of money that the federal government gives directly to the American people has grown by 32 percent since Barack Obama became president.

#27 According to the Survey of Income and Program Participation conducted by the U.S. Census, well over 100 million Americans are enrolled in at least one welfare program run by the federal government.

#28 As I wrote about the other day, American households are now receiving more money directly from the federal government than they are paying to the government in taxes.

#29 Under Barack Obama, the velocity of money (a very important indicator of economic health) has plunged to a post-World War II low.

#30 At the end of 2008, the Federal Reserve held $475.9 billion worth of U.S. Treasury bonds. Today, Fed holdings of U.S. Treasury bonds have skyrocketed past the 2 trillion dollar mark.

#31 When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent. Today, it is up to 101 percent.

#32 During Obama's first term, the federal government accumulated more new debt than it did under the first 42 U.S presidents combined.

#33 When you break it down, the amount of new debt accumulated by the U.S. government during Obama's first term comes to approximately $50,521 for every single household in the United States. Are you able to pay your share?

What about having some integrity and cite sources instead of plagiarizing? Instead of thinking for yourself, you steal someone else's work as your own. But I guess that is not too dissimilar from you taking investing "insight" from your minions and presenting it to clients as your own.

http://www.zerohedge.com/news/2013-08-21/33-shocking-facts-which-show-how-badly-economy-has-tanked-under-obama

ZH, what a shocker.

[gwb72tii]

here's a few more econ stats during the messiah's presidency. he's been in for 5 years, it's on his watch. have some intellectual honesty to to at least put some of the blame on your daddy

#1 When Barack Obama entered the White House, 60.6 percent of working age Americans had a job. Today, only 58.7 percent of working age Americans have a job.

#2 Since Obama has been president, seven out of every eight jobs that have been "created" in the U.S. economy have been part-time jobs.

#3 The number of full-time workers in the United States is still nearly 6 million below the old record that was set back in 2007.

#4 It is hard to believe, but an astounding 53 percent of all American workers now make less than $30,000 a year.

#5 40 percent of all workers in the United States actually make less than what a full-time minimum wage worker made back in 1968.

#6 When the Obama era began, the average duration of unemployment in this country was 19.8 weeks. Today, it is 36.6 weeks.

#7 During the first four years of Obama, the number of Americans "not in the labor force" soared by an astounding 8,332,000. That far exceeds any previous four year total.

#8 According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

#9 When Obama was elected, the homeownership rate in the United States was 67.5 percent. Today, it is 65.0 percent. That is the lowest that it has been in 18 years.

#10 When Obama entered the White House, the mortgage delinquency rate was 7.85 percent. Today, it is 9.72 percent.

#11 In 2008, the U.S. trade deficit with China was 268 billion dollars. Last year, it was 315 billion dollars.

#12 When Obama first became president, 12.5 million Americans had manufacturing jobs. Today, only 11.9 million Americans have manufacturing jobs.

#13 Median household income in America has fallen for four consecutive years. Overall, it has declined by over $4000 during that time span.

#14 The poverty rate has shot up to 16.1 percent. That is actually higher than when the War on Poverty began in 1965.

#15 During Obama's first term, the number of Americans on food stamps increased by an average of about 11,000 per day.

#16 When Barack Obama entered the White House, there were about 32 million Americans on food stamps. Today, there are more than 47 million Americans on food stamps.

#17 At this point, more than a million public school students in the United States are homeless. This is the first time that has ever happened in our history. That number has risen by 57 percent since the 2006-2007 school year.

#18 When Barack Obama took office, the average price of a gallon of regular gasoline was $1.85. Today, it is $3.53.

#19 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#20 Health insurance costs have risen by 29 percent since Barack Obama became president, and Obamacare is going to make things far worse.

#21 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

#22 According to economist Tim Kane, the following is how the number of startup jobs per 1000 Americans breaks down by presidential administration...

Bush Sr.: 11.3

Clinton: 11.2

Bush Jr.: 10.8

Obama: 7.8

#23 In 2008, that total amount of student loan debt in this country was 440 billion dollars. At this point, it has shot up to about a trillion dollars.

#24 According to one recent survey, 76 percent of all Americans are living paycheck to paycheck.

#25 During Obama's first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.

#26 The total amount of money that the federal government gives directly to the American people has grown by 32 percent since Barack Obama became president.

#27 According to the Survey of Income and Program Participation conducted by the U.S. Census, well over 100 million Americans are enrolled in at least one welfare program run by the federal government.

#28 As I wrote about the other day, American households are now receiving more money directly from the federal government than they are paying to the government in taxes.

#29 Under Barack Obama, the velocity of money (a very important indicator of economic health) has plunged to a post-World War II low.

#30 At the end of 2008, the Federal Reserve held $475.9 billion worth of U.S. Treasury bonds. Today, Fed holdings of U.S. Treasury bonds have skyrocketed past the 2 trillion dollar mark.

#31 When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent. Today, it is up to 101 percent.

#32 During Obama's first term, the federal government accumulated more new debt than it did under the first 42 U.S presidents combined.

#33 When you break it down, the amount of new debt accumulated by the U.S. government during Obama's first term comes to approximately $50,521 for every single household in the United States. Are you able to pay your share?

[nando]

The earth is flat?

[gwb72tii]

Because surely, none of those problems werent caused by any previous politicians or people who ran on a platform to make the president fail.

Same shit different day for you nando
Let me guess

Bush!

[nando]

Because surely, none of those problems were caused by any previous politicians or people who ran on a platform to make the president fail.

I also like the manufactured issues of benghazi thawing relations with iran, and Biden? At least the GOP has a strong imagination.

[rwh11385]

after $7 trillion in stimulus, this cartoon says it pretty well

That you sheepishly change the subject yet again?

[gwb72tii]

after $7 trillion in stimulus, this cartoon says it pretty well

[uofom3]

End QE and watch the economy grow - they have it exactly backwards.