The last sounds and sights of summer are almost on us. There is almost something bittersweet about the end of yet another summer. On the other hand, kids will be back in school, air conditioning bills will drift back to normal, and there is still another month of fresh vegetables. Anything new at the farmers’ market these days? The City has been quiet since the Sesquicentennial. Are you guys still over there? Updates? Big Dog? Cindy? Steve? Andy?
@Pat.Herve
No, in fact I really blow at it. However, if you can’t grasp the simple concept of timelines and moving your assets from equities to fixed income as your time horizon shrinks, then you probably need to be poor. We don’t even know that’s how it would work, a total “every man for himself” scenario.
That isn’t necessarily a given, to move assets to fixed. That’s why there are financial planners who also serve as brokers. I just can’t imagine circumstances where a 401k would be as good as a pension.
I am open to suggestions.
You can figure that under a scenario like privatized plans, that brokerages would manage the money for you, for a small fee. Just like your IRA.
@Moon-howler
When the pension ‘busts’ and goes broke. 😉
I prefer not to buy into the all my eggs in one basket. I lay eggs in multiple baskets.
@Cato the Elder
Cato,
I am implying that the average person is a very bad investor. They get emotional, do not understand the investment, and overreact. Plus, they also make bad investments. They often sell low and buy high.
Myself, I am not a good market timer.
@marinm
Or the stock market goes under with your 401k. I agree with not putting all eggs in one basket. Much depends on who is holding the pension. States will do better than cities and federal will do better than state, as a rule.
If pensions are in trouble then the powers that be need to see what it would take to straighten it out and hup to it.
To make the top 50 richest members of Congress list took a minimum of $6M. #1 was Rep (R-TX) Mike McCaul with a net worth of $294.2M. And we wonder why they are tone deaf when it comes to the lives of ordinary Americans. http://www.rollcall.com/50richest/the-50-richest-members-of-congress-112th.html
That sure explains why they don’t want to raise taxes on the wealthy. Lets take it off the backs of the middle class. Yea, thats the ticket
Sen. Frank Lautenberg, NJ….”We gotta eliminate the rich” in a town hall the other day. His worth: $50 million.
Dems cheer Obama’s more lenient rules on illegal immigrants
By MIke Lillis – 08/18/11 05:30 PM ET
Democrats in both chambers are cheering Thursday after the Obama administration unveiled more lenient rules surrounding the deportation of illegal immigrants.
The changes — announced by the Department of Homeland Security — will allow many illegal immigrants to remain in the country and apply for work permits.
Under the new rules, DHS officials will perform a case-by-case reviews of those in line for deportation, weeding out violent criminals and other high priority cases while closing the books on those considered no threat.
http://thehill.com/homenews/administration/177453-dems-cheer-obamas-new-immigration-policy
This is good.
Ugh….this….good.
@Slowpoke Rodriguez
Maybe he is giving it all away to charity soon?????
@Starryflights
I wish this had been done on the front end rather than the back end. It seems to me it would be easier and cheaper to allow legal entry than to process who wouldn’t be deported.
@Moon-howler
I agree, Moon.
Our governor is on MSNBC Morning Joe telling …well…lies…at least technically.
He said he had a 400 million dollar surplus. Not really. The state owes the VRS millions. When that is paid back, then he gets to say that the state has a surplus.
He then said he inherited a 4 billion dollar deficit. Virginia isn’t allowed to have a deficit. It must have a balanced budget. Is he just trying to fit in or what? I get it. He is trying to slam former Gov. Kaine.
@Juturna,
I owe you an appology. Clearly, I was reading a string of comments from Starry, read yours and incorrectly attributed to Starry. This was wrong, and I appologize.
@Starryflights
“The changes — announced by the Department of Homeland Security — will allow many illegal immigrants to remain in the country and apply for work permits.”
How is this good? A repeat drunk driver isn’t a violent offender. So he or she gets an opportunity to remain here and get a work permit. Drives drunk again and hits a car full of Nuns, or a family. Driving without a license and insurance isn’t a violent crime. So we don’t deport the offender when caught the first, second or third time. The driver gets a work permit and stays here, drives again and hits an off-duty police officer out for a sunday motorcycle ride. These aren’t hypotheticals. These things really happened. Oh sure, it’ll save us a few bucks in the short term. But what’s the real cost? Why is it we (collective) just keep looking for ways to bend the rules to accomodate law-breakers? How about changing the law instead? No, everytime we try to reform the immigration system, the process breaks down over amnesty. The 1986 immigration reform act proves that amnesty does not work. The only solution is to secure the border, and take a “going forward” approach. Make it easier for people to legally emigrate here. If someone remains here illegally, they are rolling the dice. If they come in contact with law enforcement for committing a crime, then need to be deported. If the crime wasn’t violent, or they weren’t deemed a repeat offender, then they can try to come back legally. If they were violent, or a repeat offender, they cannot legally come back. This is the only way to address this issue in a substantitive manner, IMHO.
@Steve Thomas
I have misread everything I have looked at all week, Steve. (as you know)
I even misread when the gridlock on I-66 would be.
Juturna is a forgiving person and certainly understands misunderstandings. Thanks for setting the record straight.
@Steve Thomas
I don’t think any of us really disagree all that much. I didn’t care much for Corey using Martinelly for political purposes. It was a horrible tragic event that shouldn’t have happened.
The sister was killed because Martinelly was an habitual offender, not an illegal immigrant. Martinelly should have been in jail. To simply deport him is an invitation for him to be back in 2 months, back on our roads. His parents, siblings and friends were all here, thus the magnet. Additionally, his parents had been given green cards and Martinelly himself had been here since age 8. All of these facts comlicate this case.
Unfortunately, this case, which is actually rather complex, got boiled down to a sound byte for political purposes. That solves nothing. Martinelly becoming a poster child doesn’t bring the sister back to live or prevent other drunk drivers from killing. It does nothing to help solve the national problem of illegal immigration.
I thought that our participation in 287(g) meant that illegal immigrants who committed crimes were convicted by our courts and that ICE got them after time served? Have I misunderstood something in the process? Maybe we all need a refresher course, starting with me.
Tea Party darling Michele Bachmann has expanded her rewriting history initiative. After laying out new facts on the Founding Fathers, the American Revolution, slavery, the Duke, and the King, she has branched out to enlighten the world with new facts about world history. On a conservative radio show (so it wasn’t some lamestream gotcha thing) she said Americans fear the rising influence of China (okay), India (okay), and the Soviet Union (doh!). Wasn’t it Reagan (and years of fighting a futile war in Afghanistan) that is credited with causing the evil Soviet empire to imploded and disappear from the face of the earth two decades ago? In order to play it safe and avoid another global gaff, the Bachmann campaign is returning to domestic issues this afternoon with a speech on the big government bailout of Ford, GM, AMC, and Studebaker.
@Morris Davis
and in other news, today the Obama adimistration announced that it will continue the Presidents bus tour to include the remainder of the 57 states in the union.
@Steve
Accepted and appreciated. I know I have misread and probably will again.
To the topic I agree that Texas is the number one corporate friendly state but what came first, the industry or the tax friendly environment?
@Steve Thomas
Steve – Oddly enough, your statement is just as factual as Bachmann’s. Go figure. She also promised that if she’s elected we’ll have gas that costs less than $2 a gallon. Even if you drill baby drill and max out U.S. production … which would take years … the increase in supply would have a few cents a gallon impact. The only way for gas to fall below $2 is for global demand to drop drastically and the only way that would happen is if there’s a huge global economic collapse. Seeing gas for $1.49 would not be a sign of good times.
@Morris Davis
I am going to think that time is moving backwards, a lot, if I see something with gas for $1.49. I WILL be scared.
Funny you mention McDonnell and his pension repayment plan – I’ve read that his plan is to begin that payment in 2013 when he leaves office. Leaving the newcomer with an ‘increase in spending’. The Post had a decent article on him and his voodoo economics July 31st. Their take on him was that he wasn’t all bad (how gracious) but that he wasn’t leveling with the citizens. He’s shifting money around. I think that’s a fair assessment.
BTW, he is being courted by none other than the Koch, Bros. He’s had more invites than Perry at this point. That gives me pause. MCDonnell VP??
Morris,
As an adherent of Hubbert’s Peak Oil Theory, I would agree with your assessment. As to Bachman’s comments regarding the price of oil, I’ll reserve judgement until such time as Obama can fulfill his stimulis promise of Unemployment not rising above 8%
@Juturna
If he actually removed funds from VRS I would call that he violated the VA Constitution. However, nothing was removed. The state and localities just didn’t pay their bills.
I hold all of them responsible for a slight of hand. McGovern then has the gall to grouse that the VRS is less than adequate. Well…duh! Ya think?
Wow, another Tea Party victim of those mean old lamestream media types. Christine O’Donnell says Piers Morgan was sexually harrassing her with his questions about masturbation, lust, and gay marriage when she appeared on his show to plug her new book, a book in which she discusses those same topics. She claims he would never ask male guests prying personal questions like that. Apparently she didn’t watch the show Tuesday night when former S.C. governor Mark Sanford was the guest and answered probing personal questions for nearly an hour.
http://latimesblogs.latimes.com/nationnow/2011/08/christine-odonnell-piers-morgan-was-sexually-harassing-me.html
From the Peter Candland for Supervisor facebook
“A new blog went up this week to help set the record straight. You can copy this link and post it on your page to spread the word for Peter.”
Gainesville District Truth Squad
http://www.gvtruthsquad.blogspot.com
A gift for my favorite liberals!
http://www.wnd.com/index.php?fa=PAGE.view&pageId=335261
2 great tastes that taste great together!!! Arpaio and Obama’s birth certificate!
Unfortunately that blog is packed full of lies about Elena. Additionally one of my posts is attributed to her. Get it right. We did not ask to be dragged in to an election spat. Our readers know we have tried to remain above it all during the primary season.
@SlowpokeRodriguez
You didn’t tell us you were a birther!!!! Slowie!!! You rascal, you! 🙄
Wow! Talk about hysterics. That new blog is packed with them. A high school English or government teacher would give it a prompt D. It makes a typical GregL spiel look positively fair and balanced.
You thought we were finished, didn’t you?
@Moon-howler
Moon, I had not heard of that blog before so when I saw the Candland comment that said “went up this week” I thought they started a new blog I wasn’t trying to create a stink. I like this blog because you guys are honest and realistic.
Thanks NoHype. We are glad you are here. You didn’t stir up trouble. It was already stirred. I will be addressing the latest episode of ‘As the Stomach Turns in Gainesville” as soon as I talk to Elena. She has company for the week, so she isn’t as readily available as she usually is.
I should have known better.
@Censored bybvbl
I guess that’s what happens when the uninformed listen to gossip.
Any reports from the ribbon cutting at Grizzly Sports Complex on Determination Dr. in Nokesville?
Interesting thing. In March 2012, the SEC will acquire the regulatory power to investigate any hedge fund which handles the investment money of outside clients. The SEC will be able to look for conflicts of interest and to examine any activities outside the normal business of the hedge fund. An exception to this regulation is made for hedge funds which invest only “family money” — money belonging just to those who own the firm.
An outfit called Soros Management Funds LLC, of which the principal is that fellow, George Soros, who is an Obama supporter, who donates much cash to liberal causes, and who seems to desire one-world government as a future outcome, has opted out of all this by returning all the SMF funds belonging to outside clients to those clients. Henceforth, Soros Management will only deal in family money, thus escaping the snooping of the SEC into their business. Marvelous. Mr. Soros does not seem to relish regulation by the government. Go figure.
@Wolverine
What is it you think he is doing wrong specifically?
Some people support liberal causes, some conservative causes. As for one world government, that seems to be a scare tactic–sort of like the boogy man.
Moon, Soros is doing nothing wrong from the legal standpoint. The law has a loophole for family money, and he is taking advantage of it. However, I do find it rather ironic that a fellow who gives big bucks to liberal causes of all kinds where support for government regulation of the financial industry is very strong can turn around and and take advantage of the loophole to escape government regulation with regard to his own firm. Then again, Soros has helped to fund a lot of organizations here and abroad which are extraneous to his hedge fund business per se. And that law does appear to give the SEC the right to investigate such connections if a hedge fund is investing money for outside clients. In my opinion, Soros is throwing a cloak over his own outside connections because he doesn’t want those to see the light of day under SEC scrutiny. And nary a voice is raised over the irony.
In The Japan Times of 8 November 2009 is an article written by George Soros entitled “No Alternative to A New World Architecture.” Soros feels it is necessary to rearrange the entire financial order — and more. A quote from that article:
“Reorganizing the world order will need to extend beyond the financial system and involve the United Nations, especially the Security Council membership. That process needs to be initiated by the U.S., but China and other developing countries ought to participate as equals. They are reluctant members of Bretton Woods institutions, dominated by countries no longer dominant economically. The rising powers must be present at the creation of this new system to ensure that they will be active supporters.”
Soros is just someone I don’t pay much attention to…him or his mirror images the Koch bros. They are all a bunch of kooks. At the end of the day they are just 3 people with money.