The Nation's Financial Condition

[Typical Lax Dad]

Some bad news about retirement savings: 401(k) balances increased very little in the last 10 years

In 2017, the average account balance was $103,900; the median was $26,300. The big difference between the median and the average is due to a small number of accounts that have really big balances. Average balances are more typical of long-tenured more affluent participants, while the median balance represents the typical participant. 2017 was a good year in the stock market — the average participant’s return was 18%, which explains the uptick in balances from 2016.

[ABV 8.3%]

Some bad news about retirement savings: 401(k) balances increased very little in the last 10 years

In 2017, the average account balance was $103,900; the median was $26,300. The big difference between the median and the average is due to a small number of accounts that have really big balances. Average balances are more typical of long-tenured more affluent participants, while the median balance represents the typical participant. 2017 was a good year in the stock market — the average participant’s return was 18%, which explains the uptick in balances from 2016.

why do you think the rich are running to "renewables" and candy "edibles"...........especially the young that remember banksters and the go go 80's....o...wait....go go 2000's........what, the young (45 and below) aren't sexting it up with the "brokers" belovating blue star airlines, instead buying real estate, funky "stocks", etc. Remember, if 45 today, you were 34 in 2008. Might have lost ALL the earnings after FINALLY paying off student loans.

Hence the birth of the REAL tea party....not the one anderson cooper said it was. Man doesn't even swallow, his own words....why, what were U thinking?

[Typical Lax Dad]

Some bad news about retirement savings: 401(k) balances increased very little in the last 10 years

In 2017, the average account balance was $103,900; the median was $26,300. The big difference between the median and the average is due to a small number of accounts that have really big balances. Average balances are more typical of long-tenured more affluent participants, while the median balance represents the typical participant. 2017 was a good year in the stock market — the average participant’s return was 18%, which explains the uptick in balances from 2016.

why do you think the rich are running to "renewables" and candy "edibles"...........especially the young that remember banksters and the go go 80's....o...wait....go go 2000's........what, the young (45 and below) aren't sexting it up with the "brokers" belovating blue star airlines, instead buying real estate, funky "stocks", etc. Remember, if 45 today, you were 34 in 2008. Might have lost ALL the earnings after FINALLY paying off student loans.

Hence the birth of the REAL tea party....not the one anderson cooper said it was. Man doesn't even swallow, his own words....why, what were U thinking?

Nice seeing you Bud Fox.

[cradleandshoot]

https://www.cnsnews.com/article/washing ... et-records You have to love our government... they take more $$$$$$ in and spend it just as fast. Is this how the game is played? A Fan often says we don't pay enough in taxes. When these idiots will just tinkle it all away, what is the point? Tax and spend is just not a motto, it is reality in DC land.

[foreverlax]

https://www.cnsnews.com/article/washing ... et-records You have to love our government... they take more $$$$$$ in and spend it just as fast. Is this how the game is played? A Fan often says we don't pay enough in taxes. When these idiots will just tinkle it all away, what is the point? Tax and spend is just not a motto, it is reality in DC land.

"However, the $230,245,000,000 in corporation income taxes the Treasury collected in fiscal 2019 was down $225,715,590,000 from the $455,960,590,000 in corporation income taxes the Treasury collected in fiscal 2007."

[jhu72]

Another broken promise. Its all Obama's fault.

[Typical Lax Dad]

Another broken promise. Its all Obama's fault.

And Hillary’s

[foreverlax]

Another broken promise. Its all Obama's fault.

And Hillary’s

Trump will save them by using the new found income from tariffs to shore up the coal industry.

[Peter Brown]

Going to be very difficult to beat Trump with this happening.

https://www.marketwatch.com/story/the-s ... =home-page

Going to be impossible to beat Trump if the Democrats nominate Elizabeth Warren, who promises to reverse the above link.

[holmes435]

Going to be very difficult to beat Trump with this happening.

https://www.marketwatch.com/story/the-s ... =home-page

Going to be impossible to beat Trump if the Democrats nominate Elizabeth Warren, who promises to reverse the above link.

The Dow was at a record high around election day 2016.

What does "promises to reverse the above link" even mean? And where has Warren promised to head us into a recession? Please post sources.

[foreverlax]

Going to be very difficult to beat Trump with this happening.

https://www.marketwatch.com/story/the-s ... =home-page

Going to be impossible to beat Trump if the Democrats nominate Elizabeth Warren, who promises to reverse the above link.

The Dow was at a record high around election day 2016.

What does "promises to reverse the above link" even mean? And where has Warren promised to head us into a recession? Please post sources.

I would blame the source...not PB, but the author of his link.

Since Jan 2019


Dow is up 450 points....4.90% annually.

SP500 - 6.80%.

If you were to removed the impact of "capitalization", meaning each stock is weighted equally, the return drops almost 40% to 4.25%.

[seacoaster]

Interesting:

https://www.nytimes.com/2019/10/29/opin ... e=Homepage

[a fan]

Going to be very difficult to beat Trump with this happening.

https://www.marketwatch.com/story/the-s ... =home-page

Going to be impossible to beat Trump if the Democrats nominate Elizabeth Warren, who promises to reverse the above link.

The Dow was at a record high around election day 2016.

What does "promises to reverse the above link" even mean? And where has Warren promised to head us into a recession? Please post sources.

Pete's upset that "someone else" might get some of the socialism he's enjoying. And we can't have that, right?

[ChairmanOfTheBoard]

let's just see how the week closes out first before we declare a new bull market.

[Trinity]

Third Q growth rate is 1.9 %. Ron Varo can’t explain it.

[foreverlax]

U.S. economy likely lost further ground in third quarter

"WASHINGTON (Reuters) - The U.S. economy likely slowed further in the third quarter, held back by a moderation in consumer spending and declining business investment, which could spur the Federal Reserve to cut interest rates again to keep the expansion on course.

The fading stimulus from last year's $1.5 trillion tax cut package and weakening growth overseas is also crimping the longest economic expansion on record, now in its 11th year.

The anticipated third-quarter growth pace would mark a further deceleration from the 3.1% rate logged in the first quarter, indicating the economy will again miss the White House's ambitious goal of 3.0% annual growth. Growth peaked in the second quarter of 2018, when it was jolted by the tax cuts and increased defense spending.

The economy grew 2.9% in 2018 and growth this year is expected to be below 2.5%. Economists estimate the speed at which the economy can grow over a long period without igniting inflation at between 1.7% and 2.0%.

Despite the lowest unemployment rate in nearly 50 years, which has buoyed spending, some economists are starting to question the resilience of the consumer after retail sales fell in September for the first time in seven months. Consumer confidence has been trending lower and wage growth is stalling.

"If consumer spending misses a beat in the fourth quarter, there is little other support for the economy to fall back on," said Scott Anderson, chief economist at Bank of the West in San Francisco.

Business investment likely contracted further after falling by the most in 3-1/2 years in the second quarter. In addition to trade tensions, which have weighed on capital expenditure, cheaper oil has undercut spending on oil and gas drilling.

The slower inventory build is also a factor in weak manufacturing production. Government spending is expected to have cooled after rising at its fastest pace in 10 years in the second quarter. Spending on homebuilding likely rebounded after contracting for six straight quarters."

Some think we are somewhere in between the best economy ever and a new bull market. Both great reasons to LOWER rates!!

[jhu72]

Third Q growth rate is 1.9 %. Ron Varo can’t explain it.

[foreverlax]

Fed makes another cut to help extend the longest expansion in US history.

Adam Smith’s Revenge - Trade damage takes the economy down to Obama growth levels.

"The great counterfactual of the Trump Presidency is how much faster the economy would be growing without the damage of his trade protectionism. Wednesday’s report of lackluster 1.9% growth in the third quarter shows again that you can’t escape Adam Smith’s revenge for indulging in bad economic policy for political goals.

The economy continued to grow despite overwrought recession fears as consumer spending provided nearly all of the growth in GDP. This is the second quarter in a row when the mighty consumer had to offset falling business investment to produce positive growth. Government spending kicked in a modest 0.35-point of the 1.9% growth, offsetting declines in net exports (minus-0.08) and gross private investment (minus-0.27).

The strong evidence is that trade policy is the main growth culprit. U.S. manufacturing has slumped, which is related to slowing exports. Slower growth in China from the trade war has reduced the exports of U.S. farm, industrial and construction equipment. The third-quarter decline in spending for information processing equipment, much of which is exported, was the largest in seven years.

On Wednesday the Fed continued trying to counter that risk by cutting the fed-funds rate for the third time this year to between 1.5% and 1.75%. With inflation at about 1.7%, this means the Fed is underwriting negative real interest rates even with the economy growing 2% and the jobless rate at an historic low of 3.5%. This is not tight policy.

The larger point is that monetary policy can’t make up for bad macroeconomic decisions......

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Interesting facts - Total US Debt Average Annual Federal Interest Expense by POTUS, average rate for all outstanding debt

Trump - $518.715 billion/2.24%

Obama - $411.600 billion/2.66%

Bush - $371.389 billion/$4.932

Clinton - $337.534 billion/unavailable

[Jim Malone]

Apple News Business Insider story of farmers in 2019

https://apple.news/AXpkXhpg8SxWS8pAp31hoXw

[ChairmanOfTheBoard]

https://www.vox.com/2019/11/1/20942587/ ... -explained

Warren proposes a financial transactions tax of 0.1 percent of the value of every stock, bond, or derivatives transaction. That raises $800 billion. Then she adds a “systemic risk fee” on financial institutions with more than $50 billion in assets. That’s another $100 billion.

Warren adds another $2.9 trillion in corporate taxes by ending accelerated cost recovery and imposing a 35 percent minimum tax on foreign earnings.

Prior to this plan, Warren’s wealth tax was 2 percent on assets over $50 million and 3 percent on assets over $1 billion. Sorry billionaires — now it’s 6 percent, which raises another $1 trillion. Warren also proposes taxing capital gains for the top 1 percent at the same rate as normal income, and doing so on an annual basis, rather than just when the sale is made. That raises $2 trillion.