Other (please elaborate)
DJIA MONTHLY CLOSES: 2000-2012
As noted, the southern right-to-work plants are simply allowing their employees to piggyback on the work of the UAW without any of them paying any dues to support those efforts. It may be that we need to expand intellectual property rights law to cover such situations.
I'm not a policy maker, I don't know how those would workout. I don't think its something completely unworkable, but the general idea was to have an economically efficient tax that increases productivity by reducing rent seeking. I know some counties in Pennsylvania put it into practice, and it dramatically reduced the number of vacant and undeveloped lots.
Rather I like it, because it doesn't punish people for being successful regardless of source. It punishes those who are successful by merely hoarding land and resources the most (or primitive accumulation), which goes along with my views on the so called "1%."
You can't possibly screw it up, but the quality of retirement will likely be far less than if you didn't screw it up in the DJIA, or NASDAQ, or S&P500. And we are only talking about investing in indexes here, the most basic, simple, and least difficult to screw up type of investment out there.
Chart of the Dow Jones Industrial Averages since 1971
As you can see, it goes down for some periods of time, but it recovers and keeps going up. But someone who started working in 1970 and retired in 2010 and invested in some sort of stock based retirement has still seen enormous returns on their investments, despite any recent losses.
So yes, there are ups and downs, but just because we are in a down doesn't mean that investment-based retirement needs to be completely thrown out.
I agree, but its another reason I don't like the mandate, because I'm afraid it'll kill any chance of this trend remodeling the healthcare industry. It was really only a matter of time before doctors said "screw insurance companies, we can do this ourselves."
I agree we need more doctor graduates, but I don't want to reduce requirements/rigor in order to achieve that result. Its a tough balance. What we really need are more nurse practitioner's who can act as a doctor under a practicing doctor. On a more person level, an example my mother has been working as an urgent care nurse for 30 years. She's helped me with a lot of my physiology classes that I need and in most cases she knows more than my teachers. It's literally like talking to a walking medical encyclopedia. She wants to go back and get her degree as a nurse practitioner, but cannot move to Gainsville for three years and there are no online programs in the state of Florida. What I don't understand is why the hell she needs to go back to school anyways. She could pass the certification exam with flying colors in her sleep, but its a requirement that she get the degree first. Meanwhile, I'm sure there are plenty of nurse practitioner's who are accredited, but do not have a tenth of the applicable knowledge she does, they just have the degree. That's one of the reasons I made my user "ReformCollege," we need to have a system that's more dynamic and allow workers to demonstrate expertise gained over the course of a career.
My idea for this, is rigorous national exams for those classes and passing would give that individual credit for that course. So you can "skip" attending classes that you may not need to take. But its a raw idea that needs more looking into, and is a completely different discussion.
Last edited by ReformCollege; 12-31-12 at 12:24 PM.
It's our fault. Plain and simple. We piss and moan about how much we know they are always screwing us, then we turn around and continue to re-elect them in overwhelming numbers anyway. Why should they ever take our complaints seriously when we have proven to them that there are no repercussions?
If, when defending your support for Donald Trump, and your response is,
"But but but... HILLARY!!!", then you lost the argument before you even began.
In any case, it doesn't matter whose graph you use. That's essentially four years -- 10% of an average working lifetime -- in which there was zero gain, and if it were actualized, worse than that. Those goose-eggs will now demonstrate the "magic of compounding" in reverse over the rest of one's investment lifetime.
The AMA has meanwhile been protecting the social and economic status of M.D.'s for decades by working to limit the number of uS medical schools and the numbers of new students they admit. Well into the 1990's, they were projecting doctor-gluts and taking steps to avoid the horror of such things. By 2000 or so, the looming doctor shortage had become so obvious that they had to change their tune. Officially, they now back what seem like laudable increases, but all programs toward those ends are behind schedule. And the next limiting factor has now become residency slots at teaching hospitals. There aren't enough of them. This is in part because federal funding of slots was capped in 1997 by the same budget bill that gave us the idiotic "Sustanable Growth Rate" and the annual "Doc Fix" problem. Can't really blame the AMA for that I suppose, but it's still the same problem. We really need to do a little angioplasty here. Part of it may be work-based in addition to school-based licensing as you suggest. Part of it may be taking some prelim and gatekeeper functions away from doctors and giving them to other trained professionals as I suggested earlier. I think PPACA will create pressure for more medical personnel at all levels, and that these things and others will have to come to pass at some point as the result.
Last edited by Cardinal Fang; 12-31-12 at 10:47 PM.
Not everyone has to do the investing themselves. That's what mutual funds are for, you are "buying" a pool of investments that someone else has already made.
As for the "no shows," perhaps I just don't understand how someone would not value their retirement. I understand the poor, if they can't afford it. But I don't understand the middle class Americans who make a decent enough living to save a little for later, but instead they spend it all (and usually more then they have) on luxuries. I see college students who complain about taking huge student loans, but they spend $200-300 a week on alcohol. Then I see that the typical millionaire who doesn't make in the top 1% in income, but merely lives within their means and saves consistently; and I put two and two together.
No but balancing a check book does make someone more likely to save and less likely to run up enormous credit card debt. Thats at least an improvement.
I'd be thrilled if SS were indexed in the DJIA. Gains from year to year over 5-6% could be moved into bonds to act as a buffer against shocks against the market. That could be a program I might support.
And maybe SS is causing the lack of saving? "Well I have SS, so why worry about saving my money?"
The Republicans will take the heat because they suck at the blame game, and they're not very good at covering their own asses.
This post is a little late but fortunately the fiscal cliff was avoided. Props to Boehner, not for coming up with a good plan but at least showing some initiative.
Personally I liked the original 250k plan vs the new 400k plan as it raises more revenue and still doesn't effect the economy as much as the cuts.
I don't know about the rest of the country but here in Northern VA you can definitely fell the effects of the cuts. Not only is government being cut but also their contractors and the contractors subcontractors. Which ultimately mean one thing, less jobs. Also the military does more than just combat fighting, they do provide a lot of other services such as army core of engineers and health/civil work.
I did however say that our military budge is way too big and though we may be treading through icy waters I hope and believe it will ultimately lead to more responsible spending without severely crippling the economy.
A side note, would be great if those government workers could be used in the private sector. Ideally you have everyone contributing what they can.
So right now we've worked on medicare, military, perhaps social security reform next? Would like to see increases in efficiency and and a long term plan which makes retirement age scale with life expectancy next. A fixed retirement age is unfortunately unsustainable in the future as people live longer and longer.
Last edited by shiang; 01-15-13 at 09:16 AM.
One learns more by listening than talking.