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Steve..All good points. A primary problem that the Prez is not addressing is the need for some absolute minimum guarantee for that subsistence level. For every poster who thinks they can outfox the market and predict the future, good luck. Ain't gonna happen. I have seen too many who have thought this and lost their socks. The economy may continue to improve, but then again it may not. We have to remember that the economy is changing in the US of A, from producer of goods and services to importer of same, limiting the absolute growth.
I would love to see the "happy times" of the 90s return, but I am not betting on it in the near future. What I see is a continuing march toward a society with overwhelming debt and a very low rate of savings. Yeah..let's refinance that house, use the paper profits to buy more toys.
And, in the end, the grasshopper will be knocking on the ant's door pleading for help whan the snows of Winter arrive.
It is obvious that I am a very conservative investment counselor. My clients lose very little in the bad times because of that philosophy.
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Bob S. former owner of a 1984 silver 944
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