Voting

[John Harper]

It is stunning but not surprising how little those that are left leaning know about business or finance. Trump filed for corporate bankruptcy four times out of being involved in over 100s of businesses. And each of those bankruptcies was filed under Chapter 11 Bankruptcy law a reorganization of debt to the creditors. And not under Chapter 13 Bankruptcy where you fold your tent and walk away leaving the creditors holding the bag. Three of the four were for gambling operations during the 1990’s when every casino took big losses due to the economy and Indian gaming expanding. Las Vegas and Atlantic City were the only place to gamble legally until Indian gaming emerged. Everyone took a hit, and many filed Chapter 13 Trump did not. In fact Trump even sold his yacht and Trump airlines to help satisfy the debt on one bankruptcy.
And for those that think the pResident has done a sterling job and Hillary is the answer I suggest you look at these nine charts from the Federal Reserve. Somebody needs to right the ship and Hillary isn’t the one.

Attachment 48992

I'll give it to you, Dev, I really can't come up with a "magic bullet" to solve any of these 9 issues in four, or even eight, years. Please pick any one of these charts and give me your solution to the problem, and also think about the potential consequences, intended or unintended. I'd really like to hear your thoughts, as I do respect your opinions. I may lean left with little business or finance knowledge (MBA Finance, USC), but my mind is always open to well thought out ideas and policies. I'm NOT here to defend the status quo, I totally agree things need to change direction in a lot of areas. Just want to hear your well reasoned ideas to solve any one of these issues.

Or, let's take each issue one at a time. I'd love to hear your ideas on a practical and implementable solution, or even a realistic path to solution, in some cases, is fine with me. I know you are an intelligent, thinking man. I don't need Fox News talking points or cut/paste bullshit. I want your own realistic proposals and how to implement them.

I think student loan debt is a building storm that will hurt our future economy, affecting home ownership, new small business entrepreneurs, and middle class net wealth accumulation, exacerbating the problem of global wealth concentration at the very top. Want to start there? You go first. Let's try to solve it! That issue alone influences at least another two of your charts, maybe four of nine in reality. Charts don't solve problems, ideas do.

I really hope your property is okay. Good luck. I know you're well prepared.

John

P.S. to pcuser: As far as voting, all I really want for Xmas is for my beloved POS Congressman, Darrel Issa, to finally be defeated. He's running ads lately (first time ever) so he must be running scared. What a jerk. Look up his criminal arrest record compared to Hillary. Brandishing a weapon at an employee? Seriously? So don't poo-poo me with this "Hillary should be arrested" bullshit, bring the charges or STFU. Most people never have been, or likely will ever be arrested, including me. What's Issa's excuse? Arrested twice? What?

As far as Presidential voting. Hiring a novice, seemingly erratic longshoreman to captain our Nuclear Aircraft Carrier of State (NACS) is a big risk IMO. At least Hillary has extensive knowledge and understanding of how the NACS reasonably operates, and has served several years, in many areas of command, aboard that carrier. There's only two choices for captain now, who would you hire? Oh Captain, My Captain!

I'm going with the person who has the most "sea time" and deployment experience. We need a steady hand at the helm.

Would you loan your boat to Donald Trump? Didn't think so.

[pcuser]

Reason enough pcuser.............works for me.....

Attachment 48993

Ignorance has always lead you before. Why not now???

[DEVOREFLYER]

Ignorance has always lead you before. Why not now???

Go back to hitting your bong.....

[DEVOREFLYER]

Here is a start John.

College isn’t for everyone and many that have debt had no business going to college. Some only went to the college they chose because family or friends went there. Many took majors that had few job opportunities. Most did not graduate in four years driving up their debt or were not in the top of their class. It’s tough to pay off debt any debt when you can’t find a good paying job or any job for that matter. A robust economy would do wonders for those with a marketable degree, the others not so much. Life really is about the choices you make, you don’t reward people for making bad choices.

My grandson graduated from the University of Arkansas last year with no debt. He lived at home and commuted to school daily. He finished in four and half years due to changing his major and just started grad school to get a Masters in Geophysical Technology. As I said he lived at home and still does, he also worked as a parking valet at the Indian Casino and was on the dean’s list every semester and being of Native American heritage received some scholarship money and graduated with a 3.8 GPA.

Community College, State College and vocational/tech schools are great choices at much less cost. If you have hired a plumber, electrician or mechanic you should know that these jobs pay well. Not everyone needs a college degree to get a good paying job.

I do not believe in outright forgiving student debt, everyone needs to have some “skin in the game”. Working off some debt by performing pro bono work is something I could get behind or adjusting the interest rate ot trems of the debt. Examples could be a Med School grad putting time in at a free clinic, a law grad doing free legal aid, etc. I think you get the idea and none of this became a problem until the economy went to Hades in a hand basket, refer back to the charts. Any debt is never a problem if you can make the payments. Try asking the lender for your home or car for forgiveness and let me know how that worked out for ya. Or better yet an ex wife for missed child support or alimony.

[John Harper]

Here is a start John.

College isn’t for everyone and many that have debt had no business going to college.

Community College, State College and vocational/tech schools are great choices at much less cost. If you have hired a plumber, electrician or mechanic you should know that these jobs pay well. Not everyone needs a college degree to get a good paying job.

I do not believe in outright forgiving student debt, everyone needs to have some “skin in the game”. Working off some debt by performing pro bono work is something I could get behind or adjusting the interest rate or terms of the debt. Examples could be a Med School grad putting time in at a free clinic, a law grad doing free legal aid, etc. I think you get the idea and none of this became a problem until the economy went to Hades in a hand basket, refer back to the charts. Any debt is never a problem if you can make the payments.

I agree with all of these statements. I think student loan interest rates should be set as low as possible, like long term government debt. It's supposed to be an investment in the future in order to foster greater returns. Like new business ventures, housing demand, cars, boats, Christmas gifts, prosperity. The American Dream. Consumerism.
Of course, this lofty goal needs full accountability.

I guess the Great Recession was actually more dramatic than we realized locally, being such a larger economy than the 1930's. More reason to invest in infrastructure, creating middle class skilled working jobs. Renewable energy with permanent jobs for maintenance and upgrades, etc. Too bad we continue to spend so much on the smoldering remains of our Middle East debacle, when we could easily spend that money to renew our infrastructure and give a real middle class level assistance. Our economy runs on consumers more than investors on a local and even national scale in some markets.

Borrowing to invest in infrastructure at virtually zero interest rate is a no brainer. Only Congress can make this happen. Don't blame Obama because 535 dickheads can't get their act together and compromise like adults. The Republicans are in charge of both houses. A huge money multiplier and boost to the domestic economy, from tire shops to strip bars. Do you think our entire national debt is not already financed at the same (virtually) zero rates? What's the debt service on a zero interest loan? I remember close to 20% market interest rates under the Carter/Reagan stagflation/oil crisis years. Stocks now back at record highs, home values recovered, interest rates low, no death count of soldiers, Detroit producing awesome cars. What's so terrible? I keep hearing such doom and gloom from some folks. Prove it. I can't believe we're on the eve of destruction. Are we not still the most wealthy and powerful nation ever to exist?

We spend $1 million a shot destroying stuff (creating potholes) in other countries, but won't spend $1 million to repair potholes in our own local roads (also supporting the local food truck that serves the work crew, and their families). Go figure. I think I read the Iraq disaster could have just been an air drop of $100,000 cash to each an every Iraqi citizen. Imagine if we gave even $10,000 to each of our own our citizens, along with prudent financial advice on how to use it best. Talk about a rocket launch of our economy. How many entrepreneurs could have been launched? Families saved? Wealth created? For what? Dead towelheads. Even if some of our citizens blew their money, so what? How much wealth (or happiness) has a bomb ever created?

John

[Brent]

I'm voting Trump. Even if you hate Republicans or Trump, try thinking about the future for the USA.
#1 Any chance at fixing the economy and debt ballon will not happen with Hillary. Trump says he will deregulate and make it easier for small business.
#2 Supreme court judges. If you like guns or fishing then having a bunch of Libs will not be good for sportsmen.
#3 Refugees. Hillary will bring many in. Look at Germany or France and see how it worked out.

Hillary is so dirty. That Clinton foundation is a scam. She has no record to run on.
Brent, with over 500 businesses any businessman will have some failures.
Drop a Nuke ? Cmon Brent.
Sure he is a loud mouth and said some stupid stuff, but I'd still roll the dice with him.

DR
The economy. Trump has ZERO track record and you can't just build stuff and not pay for it and file bankruptcy when POTUS. I'll take four more years of still being employed vs. the risk of a WW3 because a spoiled brat felt insulted in a tweet. He has no self control at all and knows nothing. Everything he says is a lie or he changes his mind. He's said absolutely nothing about how he's going to "Make America Great Again". Ask any black person when exactly was America great for them. We aren't even close solving those issues. We elected a black president and the first thing the republicans did was say that their only concern was to make sure he doesn't get re-elected. They couldn't even do that right. Don't get me wrong. I cannot stand Hillary either, but as a person with a rational thinking brain, there's no way I can believe that Trump as the most powerful man in world is a good idea. It's terrifying to tell you the truth.
So far as the Supreme Court. I have a major problem with religion in politics. Period. We don't need a theocracy. (American Taliban)
Loud mouth and rolling dice is absolute insanity in these times. Our entire planet is set to go off like a roman candle and he will be a gasoline covered flare in a fireworks factory.
This is not the time to be rolling dice with our planet and our kids future.

[DEVOREFLYER]

John I really think you are smarter than what you said about Obama and the Congress. That 800 billion in stimulus was for shovel ready jobs that weren’t shovel ready and would have been better served investing in enterprise zones and low interest business startup loans. As for the interest rate it is at historical lows and any increase that would be put in place as a wedge against inflation would crush the interest on the debt. And the current low rate leaves no safety valve to protect against recession recovery. While the Fed lowered interest rates to stimulate the economy the pResident with the blessing of a gutless congress has doubled the debt.

The stock market is a bubble waiting to pop. In the late 1960’s I had an insurance and broker’s license and worked at Dean Whitter and learned just enough about the stock market to be dangerous. Companies have been on a stock buying buy back thus inflating share prices and earnings by doing so. The public has been forced into the market because of the hunt for return/yield with interest being so low. Look at the underlying numbers, earnings and balance sheets suck. And the trading volume has also been at a low for some time.

The economy is a train wreck looking for a place to happen. We are approaching an inversion in the bond market and the last four times that happened we had a recession. The Baltic Dry Exchange (Bulk Oceanic Cargo of raw material) is down, Container Cargo (finished goods) is down with a carrier with 8% of total capacity in bankruptcy, Transportation Index is down, Purchasing Managers Index is down. All of which portend a short, intermediate and long term down turn in the world economy and also here. The Eurozone and a number of countries have gone to negative interest rates and it isn’t changing things for them.

I forgot to mention the “Credit Bubble” that is also looming. Credit card debt is at historical highs and a good friend that is a real estate broker in San Marino has told me that buyer debt is preventing a large number of his buyers from qualifying for loans on the multi million dollar homes he specializes in. The son of another friend is an executive in a national title company and says every state that they have an office in is down from last year with the exception of Oregon.

None of which give me the "Warm and Fuzzies".

[John Harper]

John I really think you are smarter than what you said about Obama and the Congress. That 800 billion in stimulus was for shovel ready jobs that weren’t shovel ready and would have been better served investing in enterprise zones and low interest business startup loans. As for the interest rate it is at historical lows and any increase that would be put in place as a wedge against inflation would crush the interest on the debt. And the current low rate leaves no safety valve to protect against recession recovery. While the Fed lowered interest rates to stimulate the economy the pResident with the blessing of a gutless congress has doubled the debt.

The stock market is a bubble waiting to pop. In the late 1960’s I had an insurance and broker’s license and worked at Dean Whitter and learned just enough about the stock market to be dangerous. Companies have been on a stock buying buy back thus inflating share prices and earnings by doing so. The public has been forced into the market because of the hunt for return/yield with interest being so low. Look at the underlying numbers, earnings and balance sheets suck. And the trading volume has also been at a low for some time.

The economy is a train wreck looking for a place to happen. We are approaching an inversion in the bond market and the last four times that happened we had a recession. The Baltic Dry Exchange (Bulk Oceanic Cargo of raw material) is down, Container Cargo (finished goods) is down with a carrier with 8% of total capacity in bankruptcy, Transportation Index is down, Purchasing Managers Index is down. All of which portend a short, intermediate and long term down turn in the world economy and also here. The Eurozone and a number of countries have gone to negative interest rates and it isn’t changing things for them.

I forgot to mention the “Credit Bubble” that is also looming. Credit card debt is at historical highs and a good friend that is a real estate broker in San Marino has told me that buyer debt is preventing a large number of his buyers from qualifying for loans on the multi million dollar homes he specializes in. The son of another friend is an executive in a national title company and says every state that they have an office in is down from last year with the exception of Oregon.

None of which give me the "Warm and Fuzzies".

Come on Dev, I asked for ideas to move forward. We are where we are. It's taken a lot of Republicans and Democrats to get us here. I want your ideas, not whining about Obama, or how it was in the late 60's. Keynesian policy giving way to monetarist policy, gold standard, oil embargoes, etc. I grew up then and I studied it. Looking backward does nothing. Bitching about things without ideas does nothing either. I want to hear your ideas.

I was hoping for some ideas to reverse your "9 Charts of Doom". How about getting money into housing, construction bonds, etc. Like I said, we are where we are. Where should we go from here? I'm all ears.

John

[DEVOREFLYER]

Each and every one of those charts can be turned around with just one word "JOBS".

Trump has spoken on what he would do to turn things around and you can go back four years on this site and some of them I spoke about. One of which is allowing Corporate earnings from off shore operations to be allowed to be repatriated back to the US at favorable tax rates or no tax if invested back into the economy within a short period. It is estimated that the total amount is somewhere between 2 and 4 trillion dollars and would be the biggest stimulus ever at no taxpayer expense. Tell me why we haven't done this already and it could be done immediately.

Second open all of our natural resources to exploration and production. We could be a net exporter of energy and lower energy costs benefit consumers and business alike.

Take a percentage of federal land and unused federal properties and sell on the open market to pay down debt.

Wages gained by employment or the under employed translate into taxable income and also remove people from the government teat (welfare, section 8, food stamps, medicare etc) both of which decrease the debt and add to the economy.

Regulatory reform and tax reform to aid business growth.

Your housing comment is a joke I hope. I spent the last 17 years involved in the housing and commercial building industry as an owner of a property inspection and consulting company. The scope of work that our multi inspector company did ranged from expert witness work in construction defects, property inspections for buyers, sellers and property management company's and lenders and risk management inspections of commercial shopping centers and large housing projects. In talking to past clients there is no reason for the construction business to be down. Interest rates are low, appraisals of property is favorable and lenders have lowered standards. The reasons it ain't happening is incomes have shrunken and people are not confident in the economy and many are out of work or underemployed. I dare you to take a drive into any lower to middle income neighborhood during the day and count the cars parked in driveways and curbside. Multi family's living in a home, commercial vehicles parked at home, people home and not working, they all don't work the night shift.

[Ssortasober]

As I rent an apartment for the first time since 1999, and as I have owned a house since y2k. I struggle to put my boy through UCI, he will not inherit the financial difficulties of student debt as long as I can help.
I've owned a few houses and a few boats. I have none of those things anymore. News flash on FNN, if you make over 40k a year you don't qualify for financial aid anymore. I'll do whatever it takes to make sure my kids aren't burdened by student debt. The older generation got houses and student debt for less. Significantly. Hence the attitude of I got mine. Thump your chest you got in at a great time. Screw anybody else. I'm independent. It's a generational thing, I don't conform anymore.
It appears I have to hold my nose n vote if only for my kids. Regardless of what a dying political party's affiliate has to say.
It is gonna b interesting