Comments on: What the Presidential Elections Mean for the Economy and You http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/ Helping a unique generation achieve financial independence. Sat, 20 Mar 2010 15:15:15 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Mark S. http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-92599 Mark S. Mon, 03 Nov 2008 21:08:00 +0000 http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-92599 What would the projections be for the strength of the U.S. dollar against other currencies? What would the projections be for the strength of the U.S. dollar against other currencies?

]]> By:   Money Crashing Articles of The Week by Money Crashers http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-60831   Money Crashing Articles of The Week by Money Crashers Sat, 01 Mar 2008 01:03:02 +0000 http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-60831 [...] Gen X Finance gets political with this post about the election, the economy, and you. [...] [...] Gen X Finance gets political with this post about the election, the economy, and you. [...]

]]> By: Jesse http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-60071 Jesse Mon, 25 Feb 2008 18:08:39 +0000 http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-60071 I like that you are touching this topic as I know a bout of PF blogs avoid politics...but the truth is it WILL have an impact on all of us (as much as we would like to think it won't). I think one of the main problems is that over the past 15 years there really hasn't been much of a difference in fiscal policy. BOTH parties have been spending like we have some magic money tree. I am admittedly more concerned with Democrats controlling the whitehouse AND congress because the idea of large increases in taxes and government attempts at bailouts are disastrous (what we really need is a correction, not inflation). The best thing for all of us would be for the government to do NOTHING. The market can take care of itself and will fix itself...though it will be painful for a while. I like that you are touching this topic as I know a bout of PF blogs avoid politics…but the truth is it WILL have an impact on all of us (as much as we would like to think it won’t). I think one of the main problems is that over the past 15 years there really hasn’t been much of a difference in fiscal policy. BOTH parties have been spending like we have some magic money tree. I am admittedly more concerned with Democrats controlling the whitehouse AND congress because the idea of large increases in taxes and government attempts at bailouts are disastrous (what we really need is a correction, not inflation). The best thing for all of us would be for the government to do NOTHING. The market can take care of itself and will fix itself…though it will be painful for a while.

]]> By: tracy ho http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-59815 tracy ho Sun, 24 Feb 2008 09:58:15 +0000 http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-59815 Great post , love it, Tracy Ho wisdomgettingloaded Great post , love it,

Tracy Ho
wisdomgettingloaded

]]> By: doohicky http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-59592 doohicky Fri, 22 Feb 2008 22:57:11 +0000 http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-59592 Edit: I should say Republicans in Congress. Of course, not all Republicans out there believe this way. Edit:
I should say Republicans in Congress. Of course, not all
Republicans out there believe this way.

]]> By: doohicky http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-59589 doohicky Fri, 22 Feb 2008 22:32:41 +0000 http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-59589 Republicans don't believe in free markets.... They believe in free subsidies that benefit their donors and inner circle friends. Steal from the masses who have no access to our "representatives" and give away the loot to the few who've turned this country into a corporatocracy... Who needs to make a profit when you can rig the system to have taxes as profit? Republicans don’t believe in free markets….
They believe in free subsidies that benefit their donors and inner circle friends. Steal from the masses who have no access to our “representatives” and give away the loot to the few who’ve turned this country into a corporatocracy…
Who needs to make a profit when you can rig the system to have taxes as profit?

]]> By: Steve Olson http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-59579 Steve Olson Fri, 22 Feb 2008 20:03:17 +0000 http://genxfinance.com/2008/02/22/what-the-presidential-elections-mean-for-the-economy-and-you/#comment-59579 Jeremy, I agree with everything you've said here except one thing... Keeping foreclosures down benefits everyone. It doesn't benefit everyone. What about young people buying their first home, don't dropping prices benefit them? Let me give you a personal view. When I bought my first home in 1994 it was 88K. I had my eye on several properties south of me which were on acreage and cost between 160 and 180K. I figured I'd get established in business, save some money, and buy my dream property when I was in a better financial situation. I saved and watched the price of these properties for 5 years. They remained basically unchanged. Then when we were ready to purchase, the prices went up 100% in 2000 and continued from there. By 2005 these homes were million dollar houses. I didn't understand it then, and I don't understand it now. But the banks were willing to finance this nonsense and the people were willing to borrow. What can you do? Now the prices are finally dropping because they weren't worth the amount people were paying. There simply aren't enough people in our area in the million dollar home market to sustain this. Now people are foreclosing and the prices are dropping. IMHO it is a needed correction. Some of the homes have dropped 40% in the last two years and that is a good thing. I expect to see these homes under 400K in the next two years. No one forced these people to pay these absurd prices. There was stupidity in the market and now they pay the price. The government plan to keep foreclosures down will artificially prevent a needed correction. No matter what they do, the prices will eventually come back in line. Even the government cannot defy the marketplace. Also if reasonable pain isn't felt now. The banks and the borrowers won't have learned their lesson. When you assume risk, it means risk, not a government guarantee. If the government protects them, they will keep behaving poorly. Jeremy,

I agree with everything you’ve said here except one thing…

Keeping foreclosures down benefits everyone.

It doesn’t benefit everyone. What about young people buying their first home, don’t dropping prices benefit them?

Let me give you a personal view. When I bought my first home in 1994 it was 88K. I had my eye on several properties south of me which were on acreage and cost between 160 and 180K. I figured I’d get established in business, save some money, and buy my dream property when I was in a better financial situation. I saved and watched the price of these properties for 5 years. They remained basically unchanged. Then when we were ready to purchase, the prices went up 100% in 2000 and continued from there. By 2005 these homes were million dollar houses. I didn’t understand it then, and I don’t understand it now. But the banks were willing to finance this nonsense and the people were willing to borrow. What can you do?

Now the prices are finally dropping because they weren’t worth the amount people were paying. There simply aren’t enough people in our area in the million dollar home market to sustain this. Now people are foreclosing and the prices are dropping. IMHO it is a needed correction. Some of the homes have dropped 40% in the last two years and that is a good thing. I expect to see these homes under 400K in the next two years. No one forced these people to pay these absurd prices. There was stupidity in the market and now they pay the price. The government plan to keep foreclosures down will artificially prevent a needed correction. No matter what they do, the prices will eventually come back in line. Even the government cannot defy the marketplace.

Also if reasonable pain isn’t felt now. The banks and the borrowers won’t have learned their lesson. When you assume risk, it means risk, not a government guarantee. If the government protects them, they will keep behaving poorly.

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