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Eugene
Participant[quote]Brian: You crack me up. Krugman has become more and more hysterical as time has passed (largely because he’s been shown to be more and more wrong as time has passed) and he’s largely nothing more than a Keynesian hack at this point, parroting on ad nauseum about the same failed policies.[/quote]
I don’t think that Krugman has been shown to be wrong at all, let alone more wrong than any right-wing talking face of your choice.
Right now the problem is most definitely that the market sees a high likelihood of a double dip recession. The market is NOT showing any loss of confidence in the US credit rating (otherwise, interest rates on US sovereign debt would be trending up, not down). Instead, it’s showing concern that the fledgling recovery is about to be replaced by a double dip, and the government is all too willing to pursue policies which would be more likely to cause that double dip than to prevent it.
At the same time, I’d like to reiterate my belief that the US stock market is undervalued. And no, it’s not cognitive dissonance. The valuation of the US stock market is largely psychological. Right now, the market is more undervalued than ever.
Required reading:
http://delong.typepad.com/sdj/2011/08/buy-equities-huskies-buy.html
Participant[quote]Brian: You crack me up. Krugman has become more and more hysterical as time has passed (largely because he’s been shown to be more and more wrong as time has passed) and he’s largely nothing more than a Keynesian hack at this point, parroting on ad nauseum about the same failed policies.[/quote]
I don’t think that Krugman has been shown to be wrong at all, let alone more wrong than any right-wing talking face of your choice.
Right now the problem is most definitely that the market sees a high likelihood of a double dip recession. The market is NOT showing any loss of confidence in the US credit rating (otherwise, interest rates on US sovereign debt would be trending up, not down). Instead, it’s showing concern that the fledgling recovery is about to be replaced by a double dip, and the government is all too willing to pursue policies which would be more likely to cause that double dip than to prevent it.
At the same time, I’d like to reiterate my belief that the US stock market is undervalued. And no, it’s not cognitive dissonance. The valuation of the US stock market is largely psychological. Right now, the market is more undervalued than ever.
Required reading:
http://delong.typepad.com/sdj/2011/08/buy-equities-huskies-buy.html
Participant[quote]Brian: You crack me up. Krugman has become more and more hysterical as time has passed (largely because he’s been shown to be more and more wrong as time has passed) and he’s largely nothing more than a Keynesian hack at this point, parroting on ad nauseum about the same failed policies.[/quote]
I don’t think that Krugman has been shown to be wrong at all, let alone more wrong than any right-wing talking face of your choice.
Right now the problem is most definitely that the market sees a high likelihood of a double dip recession. The market is NOT showing any loss of confidence in the US credit rating (otherwise, interest rates on US sovereign debt would be trending up, not down). Instead, it’s showing concern that the fledgling recovery is about to be replaced by a double dip, and the government is all too willing to pursue policies which would be more likely to cause that double dip than to prevent it.
At the same time, I’d like to reiterate my belief that the US stock market is undervalued. And no, it’s not cognitive dissonance. The valuation of the US stock market is largely psychological. Right now, the market is more undervalued than ever.
Required reading:
http://delong.typepad.com/sdj/2011/08/buy-equities-huskies-buy.html
Participant[quote]Brian: You crack me up. Krugman has become more and more hysterical as time has passed (largely because he’s been shown to be more and more wrong as time has passed) and he’s largely nothing more than a Keynesian hack at this point, parroting on ad nauseum about the same failed policies.[/quote]
I don’t think that Krugman has been shown to be wrong at all, let alone more wrong than any right-wing talking face of your choice.
Right now the problem is most definitely that the market sees a high likelihood of a double dip recession. The market is NOT showing any loss of confidence in the US credit rating (otherwise, interest rates on US sovereign debt would be trending up, not down). Instead, it’s showing concern that the fledgling recovery is about to be replaced by a double dip, and the government is all too willing to pursue policies which would be more likely to cause that double dip than to prevent it.
At the same time, I’d like to reiterate my belief that the US stock market is undervalued. And no, it’s not cognitive dissonance. The valuation of the US stock market is largely psychological. Right now, the market is more undervalued than ever.
Required reading:
http://delong.typepad.com/sdj/2011/08/buy-equities-huskies-buy.html
Participant[quote=AN]
Why is it bizarre? It’s from two different points and they’re not related/responded to each other. [/quote]It represents the lack of perspective. Just like people show the lack of perspective when they show concern over federal debt and demand spending cuts now lest we become Italy/Greece. When the real danger is for us to become Japan. But I digress.
Most Americans won’t retire in a condo in Del Mar or in a 4000 sq ft house, or go dumpster diving. The question as originally posed was “how much is okay for retirement?”. The answer to that question is zero. There is a senior apartment complex not far from where I live. I’m fairly sure that, if I were 65 right now, I’d be able to afford to live there on my SS benefits with no savings whatsoever. And I wouldn’t even have to move to a lower cost-of-living state. I don’t think that SS or Medicare will get rolled back substantially by 2040, because the majority of Americans don’t have enough savings to last more than a year or two without SS and Medicare. And seniors vote. They will saddle their grandchildren with whatever taxes necessary to ensure retirement that does not involve dumpster-diving or eating cat food.
Then at some point “how much is okay for retirement” somehow got twisted into “how much is okay for retirement in Del Mar”, which is the spectral opposite of the original question.
And the bizarre part, I guess, is that people continue the discussion without blinking an eye.
Participant[quote=AN]
Why is it bizarre? It’s from two different points and they’re not related/responded to each other. [/quote]It represents the lack of perspective. Just like people show the lack of perspective when they show concern over federal debt and demand spending cuts now lest we become Italy/Greece. When the real danger is for us to become Japan. But I digress.
Most Americans won’t retire in a condo in Del Mar or in a 4000 sq ft house, or go dumpster diving. The question as originally posed was “how much is okay for retirement?”. The answer to that question is zero. There is a senior apartment complex not far from where I live. I’m fairly sure that, if I were 65 right now, I’d be able to afford to live there on my SS benefits with no savings whatsoever. And I wouldn’t even have to move to a lower cost-of-living state. I don’t think that SS or Medicare will get rolled back substantially by 2040, because the majority of Americans don’t have enough savings to last more than a year or two without SS and Medicare. And seniors vote. They will saddle their grandchildren with whatever taxes necessary to ensure retirement that does not involve dumpster-diving or eating cat food.
Then at some point “how much is okay for retirement” somehow got twisted into “how much is okay for retirement in Del Mar”, which is the spectral opposite of the original question.
And the bizarre part, I guess, is that people continue the discussion without blinking an eye.
Participant[quote=AN]
Why is it bizarre? It’s from two different points and they’re not related/responded to each other. [/quote]It represents the lack of perspective. Just like people show the lack of perspective when they show concern over federal debt and demand spending cuts now lest we become Italy/Greece. When the real danger is for us to become Japan. But I digress.
Most Americans won’t retire in a condo in Del Mar or in a 4000 sq ft house, or go dumpster diving. The question as originally posed was “how much is okay for retirement?”. The answer to that question is zero. There is a senior apartment complex not far from where I live. I’m fairly sure that, if I were 65 right now, I’d be able to afford to live there on my SS benefits with no savings whatsoever. And I wouldn’t even have to move to a lower cost-of-living state. I don’t think that SS or Medicare will get rolled back substantially by 2040, because the majority of Americans don’t have enough savings to last more than a year or two without SS and Medicare. And seniors vote. They will saddle their grandchildren with whatever taxes necessary to ensure retirement that does not involve dumpster-diving or eating cat food.
Then at some point “how much is okay for retirement” somehow got twisted into “how much is okay for retirement in Del Mar”, which is the spectral opposite of the original question.
And the bizarre part, I guess, is that people continue the discussion without blinking an eye.
Participant[quote=AN]
Why is it bizarre? It’s from two different points and they’re not related/responded to each other. [/quote]It represents the lack of perspective. Just like people show the lack of perspective when they show concern over federal debt and demand spending cuts now lest we become Italy/Greece. When the real danger is for us to become Japan. But I digress.
Most Americans won’t retire in a condo in Del Mar or in a 4000 sq ft house, or go dumpster diving. The question as originally posed was “how much is okay for retirement?”. The answer to that question is zero. There is a senior apartment complex not far from where I live. I’m fairly sure that, if I were 65 right now, I’d be able to afford to live there on my SS benefits with no savings whatsoever. And I wouldn’t even have to move to a lower cost-of-living state. I don’t think that SS or Medicare will get rolled back substantially by 2040, because the majority of Americans don’t have enough savings to last more than a year or two without SS and Medicare. And seniors vote. They will saddle their grandchildren with whatever taxes necessary to ensure retirement that does not involve dumpster-diving or eating cat food.
Then at some point “how much is okay for retirement” somehow got twisted into “how much is okay for retirement in Del Mar”, which is the spectral opposite of the original question.
And the bizarre part, I guess, is that people continue the discussion without blinking an eye.
Participant[quote=AN]
Why is it bizarre? It’s from two different points and they’re not related/responded to each other. [/quote]It represents the lack of perspective. Just like people show the lack of perspective when they show concern over federal debt and demand spending cuts now lest we become Italy/Greece. When the real danger is for us to become Japan. But I digress.
Most Americans won’t retire in a condo in Del Mar or in a 4000 sq ft house, or go dumpster diving. The question as originally posed was “how much is okay for retirement?”. The answer to that question is zero. There is a senior apartment complex not far from where I live. I’m fairly sure that, if I were 65 right now, I’d be able to afford to live there on my SS benefits with no savings whatsoever. And I wouldn’t even have to move to a lower cost-of-living state. I don’t think that SS or Medicare will get rolled back substantially by 2040, because the majority of Americans don’t have enough savings to last more than a year or two without SS and Medicare. And seniors vote. They will saddle their grandchildren with whatever taxes necessary to ensure retirement that does not involve dumpster-diving or eating cat food.
Then at some point “how much is okay for retirement” somehow got twisted into “how much is okay for retirement in Del Mar”, which is the spectral opposite of the original question.
And the bizarre part, I guess, is that people continue the discussion without blinking an eye.
Participant[quote=AN]I’ve heard similar stats too. But average Americans will depend on SS to retire.[/quote]
Obviously, SS will be insufficient to afford a retirement in Del Mar. If you want to retire in the 98th percentile, you have to have a nest egg in the 98th percentile.
But it is somewhat bizarre to see people mentioning Del Mar and dumpster-diving in the same thread.
Participant[quote=AN]I’ve heard similar stats too. But average Americans will depend on SS to retire.[/quote]
Obviously, SS will be insufficient to afford a retirement in Del Mar. If you want to retire in the 98th percentile, you have to have a nest egg in the 98th percentile.
But it is somewhat bizarre to see people mentioning Del Mar and dumpster-diving in the same thread.
Participant[quote=AN]I’ve heard similar stats too. But average Americans will depend on SS to retire.[/quote]
Obviously, SS will be insufficient to afford a retirement in Del Mar. If you want to retire in the 98th percentile, you have to have a nest egg in the 98th percentile.
But it is somewhat bizarre to see people mentioning Del Mar and dumpster-diving in the same thread.
Participant[quote=AN]I’ve heard similar stats too. But average Americans will depend on SS to retire.[/quote]
Obviously, SS will be insufficient to afford a retirement in Del Mar. If you want to retire in the 98th percentile, you have to have a nest egg in the 98th percentile.
But it is somewhat bizarre to see people mentioning Del Mar and dumpster-diving in the same thread.
Participant[quote=AN]I’ve heard similar stats too. But average Americans will depend on SS to retire.[/quote]
Obviously, SS will be insufficient to afford a retirement in Del Mar. If you want to retire in the 98th percentile, you have to have a nest egg in the 98th percentile.
But it is somewhat bizarre to see people mentioning Del Mar and dumpster-diving in the same thread.
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