click on the title above or cut and paste here:
http://finance.yahoo.com/news/Why-Baby-Boomers-Are-Bummed-usnews-1665637998.html?x=0
To access one of many great articles on how the economy is impacting Baby Boomers.
For most, there is no boom, just a huge bust. In general they are disappointed and disgusted, they can't afford to retire and live the life they were promised. How did this happen? Glad you asked:
1 They were irresponsible in that they allowed their elected officials to consistently rob from Peter to pay Paul.
2 They enjoyed the moment without thinking of the future. Have you seen the movie "Ants?" Baby Boomers lived as grasshoppers, they were the all powerful biggest population group ever. Everyone needed to tend, or cater, to their needs - yeah, how did that work out?
3 They bought into the hype that children are ENTITLED to a better life than their parents. Of course theirs were the parents who created this myth. Having survived the 1st Great Depression, parents of the baby boomers swore that their kids would never suffer the way they had suffered during the 1st depression, so they gave baby boomers more than they had earned. This of course taught baby boomers that this is what parents do, so the baby boomers then did the same with their children.
4 They turned over responsibility for their well being to others. To the companies they worked for, to their government, to an army of financial types all of whom claimed to have their best interests at heart . . . they have now learned that talk is cheap and they should have looked over their financial well being themselves.
5 They looked the other way - repeatedly. It's impossible to mention all the times and places where, as a nation, we looked the other way because it was easier. Now, and for decades to come, we will pay the price for this.
I hold no animosity for the baby boomers, they didn't plot to maliciously harm others (and themselves in the process.) Instead they were simply lazy . . . like most of the rest of the Sheeple in the US today.
What's the answer? Another great question. We could do what this country did in the 30's and 40's - roll up our sleeves and go to work rebuilding. Honestly, I doubt that as a nation we have the fortitude to undertake and succeed with such a plan. So reality will most likely prove to be that the US, or in the future the pieces that it becomes, will drop to a second tier country and we as a mass of sheeple learn to settle because it will be easier.
Where do you see things going?
Wednesday, January 5, 2011
Tuesday, January 4, 2011
Got A Pension Plan? Are You Sure?
Happy New Year!!! It's now 2011 and after many years of hard work and long hours, you've finally reached that magic number and are ready to retire. Or are you?
Just last week we posted an article about the town of Prichard, Alabama. IF you haven't already read it, go back and do so and see how the unthinkable happened. Then click on the title above or the link below to review the entire Yahoo Finance article and see if your pension plan is in trouble.
http://finance.yahoo.com/news/7-Signs-Your-Pension-Fund-Is-investopedia-4127115396.html?x=0&.v=1
Just last week we posted an article about the town of Prichard, Alabama. IF you haven't already read it, go back and do so and see how the unthinkable happened. Then click on the title above or the link below to review the entire Yahoo Finance article and see if your pension plan is in trouble.
http://finance.yahoo.com/news/7-Signs-Your-Pension-Fund-Is-investopedia-4127115396.html?x=0&.v=1
Want Multiple Offers???
I spoke with Kirk Nace, the creator of The 6 Week Listing Strategy, regarding multiple bids and he said that his strategy allows all sellers to create the competition necessary to maximize their equity preservation. You can find more information at www.6weekListingStrategy.com
Click on the title above or the link below to review the entire Star Tribune article.
http://www.startribune.com/business/112696234.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUoD3aPc:_2yc:a_ncyD_MDCiU
Click on the title above or the link below to review the entire Star Tribune article.
http://www.startribune.com/business/112696234.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUoD3aPc:_2yc:a_ncyD_MDCiU
Market taking longer to absorb foreclosed properties
S&P says 44 months, and growing, to clear out shadow inventory. If the estimate is now up to 44 months, and that number gets larger each quarter...when will we truly see a bottom?
Click on the title above or the link below to review the entire MarketWatch article.
http://www.marketwatch.com/story/sp-warns-on-shadow-inventory-of-foreclosures-2011-01-03?reflink=MW_news_stmp
Click on the title above or the link below to review the entire MarketWatch article.
http://www.marketwatch.com/story/sp-warns-on-shadow-inventory-of-foreclosures-2011-01-03?reflink=MW_news_stmp
100,000 foreclosures in January?
NAR chief economist is now "hopeful" that housing market will improve. READ THIS AS NOW EVEN NAR IS RECOGNIZING THAT THE $HI!* IS ABOUT TO HIT THE FAN!
Click on the title above or the link below to review the entire NPR article.
http://www.npr.org/2011/01/03/132523689/u-s-home-foreclosures-may-top-100-000-in-january
Click on the title above or the link below to review the entire NPR article.
http://www.npr.org/2011/01/03/132523689/u-s-home-foreclosures-may-top-100-000-in-january
The LAW of Supply and Demand as applied to real estate
Click on the title above or the link below to review the entire Bloomberg article.
http://www.bloomberg.com/news/2011-01-03/how-i-missed-the-housing-recovery-of-2010-commentary-by-caroline-baum.html
http://www.bloomberg.com/news/2011-01-03/how-i-missed-the-housing-recovery-of-2010-commentary-by-caroline-baum.html
Monday, January 3, 2011
So Simple a caveman could understand:
Why did Bernie Madoff go to prison? To make it simple, he talked people into investing with him. Trouble was, he didn't invest their money. As time rolled on he simply took the money from the new investors to pay off the old investors.
Finally there were too many old investors and not enough money from new investors coming in to keep the payments going.
Next thing you know Madoff is one of the most hated men in America and he is off to jail. Some of you know this, but not enough of you.
Madoff did to his investors what the government has been doing to us for over 70 years with Social Security. There is no meaningful difference between the two schemes, except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions.
Do you need a side-by-side comparison here?
BERNIE MADOFF = Takes money from investors with the promise that the money will be invested and made available to them later.
SOCIAL SECURITY = Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" and made available later.
BERNIE MADOFF = Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts.
SOCIAL SECURITY = Instead of depositing money in a Trust Fund the politicians use it for general spending and vote buying.
BERNIE MADOFF = When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors.
SOCIAL SECURITY = When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the geezers.
BERNIE MADOFF = When Madoffs scheme is discovered all hell breaks loose. New investors won't give him any more cash.
SOCIAL SECURITY = When Social Security runs out of money they simply force the taxpayers to send them some more.
BERNIE MADOFF = is in jail.
POLITICIANS = remain in Washington.
The taxpayer: "That's someone who works for the federal government but doesn't have to take the civil service examination." - Ronald Reagan
"If you put the federal government in charge of the Sahara Desert, in five years there'd be a shortage of sand." - Milton Friedman
Finally there were too many old investors and not enough money from new investors coming in to keep the payments going.
Next thing you know Madoff is one of the most hated men in America and he is off to jail. Some of you know this, but not enough of you.
Madoff did to his investors what the government has been doing to us for over 70 years with Social Security. There is no meaningful difference between the two schemes, except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions.
Do you need a side-by-side comparison here?
BERNIE MADOFF = Takes money from investors with the promise that the money will be invested and made available to them later.
SOCIAL SECURITY = Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" and made available later.
BERNIE MADOFF = Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts.
SOCIAL SECURITY = Instead of depositing money in a Trust Fund the politicians use it for general spending and vote buying.
BERNIE MADOFF = When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors.
SOCIAL SECURITY = When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the geezers.
BERNIE MADOFF = When Madoffs scheme is discovered all hell breaks loose. New investors won't give him any more cash.
SOCIAL SECURITY = When Social Security runs out of money they simply force the taxpayers to send them some more.
BERNIE MADOFF = is in jail.
POLITICIANS = remain in Washington.
The taxpayer: "That's someone who works for the federal government but doesn't have to take the civil service examination." - Ronald Reagan
"If you put the federal government in charge of the Sahara Desert, in five years there'd be a shortage of sand." - Milton Friedman
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