PS: And the value of a defined benefit pension is like an annuity, you value it for the "guaranteed" income stream and not for any internal investment returns--not any more than you'd get excited that the insurance company paying out your annuity had a good year. (And sub-3% returns is NOT a good year!)

"...you might want to leave your money in the 401(k) plan instead of rolling it into an individual retirement account"   If writers are this stupid, I'd be careful about anything they say. First, the 401K has nothing to do with the pension plan (which may have some investment advantages). Second, it's not hard to fin...more

When you have been pushed off a tall building, you might say "Good so far!" as you pass the 20th floor. But eventually the view of the ground rushing up gets clear to everyone, and they're not so happy any more. I wouldn't take current sentiment as a big factor. And everything is certainly not "great" when central bank...more

Abe has pushed Japan off a high building, and as they pass the 20th floor everyone is saying "It's really good so far!" It's hard to tell when the image of the ground rushing up is going to become clear. But it's impossible that they get 2% inflation without causing JGB prices to fall badly, and Japan isn't able to pay...more

You've heard of "damning with faint praise", right? What the liberal media does for liberal Presidents--and they did it with Clinton on PBS back when--is "praising with faint damnation". They'll say stuff equivalent to "mistakes were made" and move on.

I think the biggest idiots are people who watch CNN and other outlets and buy or sell based on commentators advice--along with a horde of other buyers and sellers, of course, which negates any good advice. (And good advice there is unlikely but possible--even flipping 20 heads in a row is possible).

Yes, there's plenty of gambling going on (mostly through the futures markets). and some hedging, but paying attention to your asset allocations and adjusting out of overpriced sections is not gambling. It's also not gambling to get out of sectors that are dicey--like running below their 200-day averages. These are all ...more

I don't think you know what you're talking about.  What exists today is not Capitalism but "crony capitalism", where government hacks carve out special tax breaks and bonuses for their business cronies. And certainly not "Laissez-faire capitalism". "Laissez-faire" means "leave us alone", and is directed at the governme...more

If mice infested my garage I'd get poison and kill ALL of them, without a qualm. But my cat already handles that responsibility, so I won't have to. He has no qualms about it either!