Personal Finance 101

CNN Money Nearly 3 in 5 Americans are making this huge financial mistake


I am always horrified by stories like this... Then we wonder why there are so many poor people in America.

"Americans on a whole just aren't great savers, to the point where almost 70% of us don't even have $1,000 in the bank. Furthermore, almost half of Americans claim that to cover a $400 emergency, they'd need to borrow the money or sell something quickly to round up the cash.

And though some of us can legitimately point to low earnings as a reason for not saving, for many of us, it's a matter of poor money management -- namely, failing to create and follow a budget.

According to a recent study by U.S. Bank, only 41% of Americans use a budget even though it's one of the most effective ways to keep track of our finances. This data is only a slight improvement over a 2013 Gallup poll, which showed that just 32% of U.S. households maintain budgets. "

Somali Invasion of St Cloud?

Someone wrote me an email today with this link to Refugee Resettlement Watch and asked the following:

"What do you make of this in the St.Cloud area?

Do residents want it or was it forced on them?"

 I responded "Facts and Data. See pages 5 & 6. Looks like the St Cloud area is growing fast and changing some." St Cloud Area Demographics

And yes these folks are ardent Trump supporters.  That all said:

• What do you think of the Refugee Resettlement Watch blog?
• Are the majority of people in the St Cloud area happy to have their new neighbors who hold different beliefs?
• Since Liberals support LGBT rights and marriage, how does it make sense to bring in more citizens who are likely to be against those rights?  It would be like encouraging the Southern Baptists to immigrate to your State / community...  Then complaining that they closed the bars...
• Will communities where many of these practicing Muslims congregate tend to be pressured to be more "morally restrictive"?  WT Muslims and Sharia Law 

Thoughts?

Planks, Skis and Boards

From MP Debate 3.

"Platform planks may become water skis or diving boards..." Jim

"I find your comment interesting, since these two have incredibly different stated platforms. And the commenters here are fascinated with behaviors.
I find Hillary's plan to increase taxes greatly, grow government intrusion / spending, nominate Liberal activist justices, etc very concerning. I hope the GOP stays in control of the House and Senate... 

Of course then we will need to listen to continuing comments from the Left regarding how the GOP is stalling the proper functioning of the government..." G2A

"Hillary Clinton's tax increase proposal is about $50 billion a year, about 1.3% of the federal budget. 

What ought to be concerning to someone who loves to debt scold is the fact that the Republican candidate is proposing to slash taxes by over 10 times that amount with no meaningful corresponding spending cuts." Sean

I questioned Sean's numbers over at MP but it did not get through...  So here we go.

I find it very difficult that Hillary is going to pay for her wish list with $50 Billion...  Let's name them...

• Free or reduced Higher Education for many
• College loan reductions for many
• Increased infrastructure spending
• Stabilize social security and medicare
• Stabilize ACA / Universal Healthcare
• Additional investment in training and clean energies
• Addiction and Mental Health treatment investments
• Increase welfare spending (ie no child in poverty)

Especially when the additional taxes, regulations, mandated benefits / wages, etc will pressure companies to automate or off shore more jobs...

Now I whole heartedly dislike Trumps plan however it would reduce the cost of doing business in the USA, so more companies may stay, locate or expand here.  The big question is what will finally convince companies like Toyota to move their Prius manufacturing here?  Please remember that the consumer has decided that foreign made product is fine and they happily send their money over seas instead of into the pockets of American workers.

Debate 3

Overall I thought it was a good debate, though I doubt it changed many minds.  Thoughts?


CNN Fact Check

MN A Swing State?

MP MN a Swing State

Wouldn't it be interesting if the Democrats did not show up to vote?

I mean if everyone thinks Hillary is a slam dunk here, you never know...  And it is not like Hillary has the base all excited.  Especially with those emails continuing to dribble out.

Are Elections Rigged?

CNN Trump rachets up "rigged elections"


I CAN NOT WAIT UNTIL THE ELECTIONS ARE OVER !!!

Are Millenials Doomed?

Here is a depressing article if you are a Millenial.  MSN Why Millenials Are Doomed Though I guess I can see some truth in it.  My thoughts:

• Per my last post, the government is continual taking more from our pay checks to give to Public Employees, People who make poor choices, etc. In 1916 a young person controlled ~90% of the money they received for working, now it is down to ~63% and who knows where it will go given our HUGE National Debt / growing Liberal policies. And yes people do receive some of their money back from Medicare and Social Security, but they are still wealth transfer programs to some extent.
• The stock market and housing market are up right now so future gains will be lower on money invested today. Though if the Millenials started investing in their 401K and a home in 2009, they are very happy today.
• There will be downward pressure on US compensation in our very global economy. We are currently highly compensated relative to many workers in the world, the USA keeps raising taxes to give more money to poor performing citizens (ie welfare, Medicaid, etc) and the USA becomes more regulated every year. (ie financials, EPA, etc) And the American consumers simply do not want to pay for high wages, high give aways and/or stringent regulations, they want low cost, high quality, great features, etc so they spend their money on products and services from lower cost countries. 
• Finally, I do think that younger people do have an incessant drive shiny things.  Be it that newest phone, best data plan, Mexican vacation, personal passion, etc.  It will take a lot of self discipline to live cheap, save lots and invest well.
• On the upside, I remember that every generation has faced challenges and think the smart, hard working and self disciplined Millenials who get/stayed married will do just fine.

Boiling the Frog

From Laurie

"While I know it is not likely I would love for the Trump / GOP implosion to be large enough to put the dems back in control in Washington. I don't think we would get the socialistic nightmare that John worries about. I would love to see them pass immigration reform and make their other prioritygood jobs in infrastructure and clean energy. I also like them to address college affordability, including assistance in paying down loans which is the help my kids need." Laurie

From G2A Political Self Awareness.  To help explain where we started and how far we have come, I have adjusted the political continuum. Please remember what this means:

• In 1916 citizens got to keep ~90% of the GDP to do with as they felt was best for their families. The government politicians and bureaucrats were given ~10% of the GDP to keep citizens safe and to run the country.
• In 1966 citizens got to keep ~75% of the GDP to do with as they felt was best for their families. The government politicians and bureaucrats were given ~25% of the GDP to keep citizens safe, to run the country and to help the truly needy.
• In 2016 citizens get to keep ~68% of the GDP to do with as they feel is best for their families. The government politicians and bureaucrats are given ~37% of the GDP to keep citizens safe, to run the country, to help the truly needy and to ???

The question is where will we be in 2066?

• Are we going to keep giving up our personal control?
• Are we going to keep giving the politicians and bureaucrats more control?
• Who knows best how to spend our hard earned income?
• Do the politicians know better than you which charities you want to support?
• Which charities are effective?
• Do they know how to save and invest better than you?
• Do you want to trust them to provide for your children?
• You in your old age?
• If we keep taxing the smart hard working successful people at higher rates, and giving ever more to the unsuccessful with few requirements...  What behaviors will it discourage / encourage?

It is an interesting and disturbing trend to watch.

And from US Spending...  Just imagine what the interest cost will do if the rate goes up a few percentage points...

And remember how to boil a frog.  Put them in cool water and slowly turn up the heat until it is too late for them to escape. (Source)

Thoughts?

How Will the GOP Improve?

From Laurie

"We could be reading about the trouble in the GOP for many weeks or even years.

Paul Ryan won’t defend or campaign for Trump ahead of election "

Personally I think it will depend on the hardcore "Pro-Trump" and/or "Tea Party" voters.  They seem to have a belief that the party will win if it goes further Right and more Religious.  Which defies the laws of a Normal Distribution curve.  But they will swear that Romney lost because he was too centrist so the base did not get out to support him.


However maybe we actually have a Bi-Modal Distribution curve in the USA.  Those on the Left who want to pull the country into Democratic Socialism and those on the Right who want to pull us back toward our Capitalistic roots.


I mean Trump has a whole lot of people who support his platform and policies.  Unfortunately his character and baggage has turned off a lot of voters between the modes.


What do you think will happen with regard to the GOP party?

Policy: More or Less Tax and Spend

Sean wanted to know what the winning policies were that Trump and the GOP offer...


From G2A

"As for winning policies.

- Reduce taxes and regulatory burdens so that companies can afford to compete while remaining in America or moving here.

- Though it makes me a bit nervous. Apply some import fees so that consumers need to pay more for foreign made products. Maybe instead of "import fees", maybe we apply a $5,000 purchase tax for every Prius, Subaru, and other vehicle with under 50 percent domestic content

It makes NO SENSE to have an incredibly expensive country when our consumers are obsessed with buying low cost products and services."

From Sean:

"Reduce taxes and regulatory burdens so that companies can afford to compete while remaining in America or moving here."

Our taxes are below the OECD average. And our regulatory burden, while hard to quantify, ain't that bad either. We're 7th in the world in the World Bank's Ease of Doing Business Rankings, for instance.

"Apply some import fees so that consumers need to pay more for foreign made products. Maybe instead of "import fees", maybe we apply a $5,000 purchase tax for every Prius, Subaru, and other vehicle with under 50 percent domestic content"

OK, now you're making up your own policy instead of evaluating what Trump has actually proposed.

It seemed better to move this to it's own space. 

Clinton Enabled Sexual Assault?

Now does Hillary really seem like the "defender of women" after hearing how she terrorized these women who threatened the political futures of Bill and herself.  Now why do Hillary supporters who would usually support sex abuse victims choose to ignore these voices?

CNN Hillary the Enabler
TownHall Trump News Conference

"Sitting at a table with Trump, Paula Jones, Kathleen Willey, Juanita Broaddrick and Kathy Shelton introduced themselves one by one and explained why they are voting for the candidate. As a refresher, Jones accused Clinton of flashing him at the White House. Broaddrick accused Clinton of raping her and Willey accused the former President of aggressively groping her. All of them say Hillary Clinton threatened them after the incidents about remaining quiet and not causing problems.

"Mr. Trump may have said some bad words, but Bill Clinton raped me and Hillary Clinton threatened me. I don't think there's anything worse," Broaddrick said. "

Debate Number 2

Well, I think this one more of a draw.  What do you think?

CNN Scorched Earth
FoxNews Slug Fest

Different Clinton Emails

MSN Clinton Speech Emails

I can't wait to see if this goes anywhere...

I Can't Believe I Watched the Whole Thing

CNN VP Debate Fact Check

So what did you think?

Healthcare Revisited

Okay, I have nothing...  So let's pull these comments to the top...

""Jerry, No one is going to die from ACA, except maybe my Father. He may pass away from continually seeing his huge tax bill. (being self employed, he has to actual write checks)

Unless the idiot GOP folks figure out how to actually cut government when they cut taxes, we will see more debt build up. If they truly want to be fiscally responsible and real financial Conservatives... Let's see it.  " --G2A

"Sorry, but that doesn't make sense. First of all, "if it saves one life" is a major reason for a lot of government meddling that has only this imaginary justification. Worse than that, we were sold the ACA based on the crazy idea that people were dying in the streets because they didn't have health insurance! So when ACA cost millions of people the "plans they liked and wanted to keep," we must conclude, ipso facto, that some considerable number of people died. Now that prices on the exchange are increasing rapidly, there are many more people who cannot afford it, and we assume some of them will die for lack of insurance, as will those who previously would have bought low-cost plans that suited them but are also now priced out of the marketplace by the ACA.

We can bring this back to the original question by noting that Hillary "invented" Obamacare and has only the fantasyland view of it and will continue down that rabbit hole. Trump's "style" is to observe it is utterly broken and to want to fix it. Just like a man, really, who wants to solve the problem, while the woman just wants to talk about it to make herself feel better. Source: "Men are from Mars, Women are from Venus" . Jerry

"Jerry, The worst thing about ACA is that it makes successful people pay more for taxes and healthcare... The best thing is that it reduces the healthcare insurance costs for unsuccessful people. No deaths required. " G2A

"Of course we could have had lower costs and more coverage if we never had the ACA. And no deaths were required or promised; that is just the way liberal pipe dreams work-- the law of unintended consequences." Jerry

" "Of course we could have had lower costs and more coverage if we never had the ACA." Jerry

Really? Then why did it never happen? Why do we still not have a fully built-out plan from the Republicans to replace it?" Sean