The Ongoing New Financial Era Thread

PSUgrower
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Re: The Ongoing New Financial Era Thread

Postby PSUgrower » Fri Oct 27, 2017 8:42 pm

Blue&White wrote:How about we go with the tried and true method of throwing people in jail and see if that works.


Because we don't do that in this country.

Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Fri Oct 27, 2017 10:25 pm

It's free for a year. And, given several of their execs have been fired, I tend to doubt they made this up.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Wed Jan 24, 2018 6:44 pm

Putting this here due it being more economic than political:

White House Declares Open Season on the Dollar at Davos

The short version here is that the Trump administration is - in theory - reversing decades of a US policy known as "the Strong Dollar policy" where the US tries to prop up the value of the dollar as high as it can in relation to other currencies. I believe this has been official US policy since Eisenhower. The actual policy has been a little different and, as this article points out, there have been points in our recent history where our actions have run opposite to the policy. During the Bush years there were several times that the US signaled we were looking for a weaker dollar while claiming to have a Strong Dollar policy.

There are pros and cons to this. This article highlights the pros - the strength of American exports. A potential major con is we import a whole lot of stuff and US consumers can see inflation as a result. There is a balance to be struck here and the stated policy has always been to protect US consumers. I'm not surprised the Trump team went the opposite way, here. I don't think there is a "right" answer to this, either. It's about tradeoffs. And, currency markets and how currencies interact with each other in free trade has always been a bit of a mystery to me. I'm not sure how much an administration can impact market forces.

Anyway, I just found this of interest. Stay tuned in terms of what the impacts are.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Wed Jan 24, 2018 8:11 pm

This is one of those topics where you could probably find plenty of Economists arguing both sides. Me? No clue.
Fire Alex Cora. (On hold pending further review)

Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Wed Jan 24, 2018 8:31 pm

During the Bush era, when this first came up as an issue, I read a bunch about it. That was a number of years ago, though, and I don't recall all of it. What I do remember is along the lines of what I said before - there are pros and cons and the US view had historically to guard against inflation and keep import pricing lower. It also made the US dollar the currency of choice in the world. There is a reason that things like crude oil barrels are traded in US dollars. The Bush administration, despite saying we had a Strong Dollar policy, took several steps to weaken the dollar. One of the impacts of that was there was serious discussion about switching out the dollar for the Euro for international commodities like oil. The feeling was the Euro was more stable.

Like I said, I don't think there is one "right" answer to this. There are trade-offs to be made and it becomes a question of what matters to you most. And, I suspect reasonable minds can see either side of the issue and both have merit in their arguments. I do think that this policy probably better serves American corporations than American consumers, though, and that is a legitimate concern - one I'm confident will be generally ignored by the administration or dismissed as partisan politics or whatever. The other thing I am sure of is that, because Trump did this, there will be a whole lot of media generated hysteria around it that signals our impending economic doom and invokes images of the worst of the Great Depression.

We'll see I guess.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

Carl Spackler
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Re: The Ongoing New Financial Era Thread

Postby Carl Spackler » Thu Jan 25, 2018 4:54 pm

I will admit I have no idea but know we all will be in for the ride wherever it takes us.

I ran our credit card year end detail and wow were the money goes. We sure to live pretty nice lives. Even with saving more than ever we eat out at least weekly, apparently. Our grandchildren do pretty well too, from us and others, far better than we did at their stage. In fact I'd wager that if you would add up all the gifts they received for all events they would, at 1.5 & 3 yrs old have far surpassed their grandparents through age 21.

But life includes grousing. We were hit two years in a row with early Jan. 3 K bills. Add this to another 4 K in Feb/Mar. for dental work and there goes our 2018. The new tax seemingly did not adjust the 7.5% requirement against adj. gross inc. for medical expenses so we likely will barely meet it or possibly meet it a bit more than usual but w/o filing a schedule A it won't count anyway will it?

Yet, life it pretty good overall. Got my pump and it is working. The horrible arthritis is a bay and the general pain is better than when on oral meds. Do I feel fine, heck no but it could be far worse, I'm upright, mostly. I can walk, eat (my older bro. can't, or can through a hole in his chest, tasty), talk, taste, etc. Many can't. So while I complain, grouse, b!Tc!!, etc. I realize life is pretty good. I can't change what congress, the prez., the Supremes, $%@$BUREAUCRATS & @$^@^%^%#&^%&^$**%&^((*&)((&)&___&%%$#%@$^%^REGULATORS do no matter how I vote or how often. I've begun to fight it less, Mrs. Spackler has noticed. There is no benefit in it anymore. Watching far less "news" and commentary. Read more, watch movies, sleep. Life's too short, don't screw it up, we are not going to change anything.
So I got that going for me...which is nice. It's a cross between Kentucky Bluegrass, Featherbed Bent and Northern California Sensimilla so you can play 36 holes on it,take it home at night and get stoned to the begesses belt

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Fri Feb 02, 2018 3:10 pm

The DJIA is currently in free fall. But if everyone stops what they're doing and spends the next hour buying all the stocks I own, we should be OK. TYVM.
Fire Alex Cora. (On hold pending further review)

Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Mon Feb 05, 2018 3:54 pm

Surprised dad hasn't come and provided us his insights on the living status of one Bill Ray Valentine. Market is like a Tom Petty song.

And, today's lesson is "be careful taking credit for things that you really have no influence or impact over, because then you can't avoid blame when the inevitable turn around happens".
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Mon Feb 05, 2018 4:44 pm

I asked for your help on Friday and you ignored me. So thanks for nothing. That's the problem now-a-days. People just thinking about themselves instead of thinking about me.
Fire Alex Cora. (On hold pending further review)

Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Thu Feb 08, 2018 12:29 pm

I'm heading to Charlotte the end of the month for a few days. I just went and booked my flight and it is amazing what it costs to fly out of Philly now. It is so bad, I'm going to trek up to Newark. Since US Air and American were allowed to merge, the average cost of a ticket out of Philly has more than doubled as compared to what I used to pay. A flight out of Philly was almost $800 and my flight out of Newark is under $200.

Every time one of these big mergers is proposed and some jackass is on TV talking about how it will actually be good for consumers to have fewer competitors, I just laugh.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?