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By following Nobel economist Robert Mundell’s advice to “reverse the policy mix,” the supply-side policy allowed the US economy to grow without paying for the growth with rising rates of inflation. However, the new macroeconomic policy was not a cure-all, and its success in banishing worsening “Philips curve” trade-offs between inflation and employment masked the appearance of new problems, such as the loss of jobs and GDP growth to offshoring, problems from deregulation, and the growing concentration of income in fewer hands.
According to reports, 70% of the goods on Wal-Mart shelves are made in China. During 2006, Americans spent $1,861,380,000,000 on imported goods, that is, 23% of total personal consumption expenditures were spent on imports (including offshored goods). This means that between one-fifth and one-fourth of new consumption expenditures will stimulate foreign economies.
The Keynesian policy of driving the economy through consumer demand was applied to a different economy than the one we have today. In those days the goods Americans purchased, such as cars and appliances, were mainly made in America. Construction workers were not illegals sending their wages back to Mexico. The US had a robust manufacturing workforce.
Anyone who attempts to time the market who is not a professional (ie, making a few hundred thousand a year off it already) will fail. Every time. The amateur investor listens to the mass media and BUYS HIGH and SELLS LOW. The good amateur investor is diversified already, so there is no need to panic.
While I know everyone wants to play psuedo-economist and act smart by musing on financial instruments, starting a long post about derivatives is even further off this topic than the thread already is.
Anyone with money can buy funds that are automatically diversified. It's become even easier with target retirement funds: not only are they already diversified, but the risk decreases automatically as you approach retirement. It doesn't take any skill to be diversified, even if you have no idea what your doing.
The New York City and state pensions in November were named as co-lead plaintiffs for the five class-action suits accusing Countrywide of inflating earnings and overstating its ability to weather the housing slump. The underwriters sued were: ABN Amro Inc , AG Edwards & Sons, Inc. , Banc of America Securities LLC , Barclays Capital Inc. , BNP Paribas Securities, , BNY Capital Markets, Inc. , Citigroup Global Markets Inc. , Countrywide Securities Corporation, Deutsche Bank Securities Inc. , Dresdner Kleinwort Wasserstein Securities Inc , Goldman, Sachs & Co. , Greenwich Capital Markets, Inc., HSBC Securities (USA) Inc. , J.P. Morgan Securities Inc. , Lehman Brothers Inc. , Merrill, Lynch, Pierce, Fenner & Smith Inc. , Morgan Stanley & Co. Inc. , RBC Capital Markets Corporation , RBC Dominion Securities Inc., RBC Dain Rauscher Inc., Scotia Capital Inc., SG Americas Securities, TD Securities Inc. , UBS Securities LLC , Wachovia Capital Markets LLC and Wachovia Securities, Inc. .
...in Target Retirement Funds. Much as you like, you can't blame everything on Wall Street.
Originally posted by MagicaRose
Sorry but my husband and I are on Social Security Disability and we could use that money for medications , doctors, shelter and food.
I agree with the other poster. The government just sweeps the poor and elderly under the rug in this country.
Up until 2 years ago my husband was a hard worker all of his life and contributed taxes to this country for over 45 years and this is what he gets for it. NOTHING!!
Because of our "low" income we don't have to pay taxes.
[edit on 24-1-2008 by MagicaRose]
Originally posted by HimWhoHathAnEar
This is what happens when Wall Street is allowed to package up a bunch of garbage and call it 'Diversified' and 'Reduced Risk'. These are Pension Funds, Peoples RETIREMENTS!
Originally posted by St Udio
my letter to Sen. Lindsey Graham fell on either deaf ears or the heirarchy in power above him said----pppffffttttttttt! to my kind!