A Quote by Charles B. Rangel
A default on our debts as a result of not meeting our obligations would be a disaster for the stock market, and Americans would see their retirement funds shrivel up.
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If you were to just design the perfect retirement plan, you would own the stock market or you would own the bond market. You would get all the costs or all that you possibly could out of the system. So on an annual basis, if the market went up 8 percent, you would get 7.8 or 7.9 percent.
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick.
We need a federal government commission to study the way our financial services system is working - I believe it is working badly - and we also need more educated investors. There are good long term low-priced mutual funds - my favorite is a total stock market index fund - and bad short term highly priced mutual funds. If investors would get themselves educated, and invest in the former - taking their money out of the latter - we would see some automatic improvements in the system, and see them fairly quickly.
It is argued by our GDP obsessed policy planners that eventually the money being made by the stock market operators or the IT industry would trickle down to the poor farmers in terms of ancillary jobs that would be created. But the fact is, that this has not happened, despite the boom in the stock market and the IT industry.
To say Donald Trump would be a disaster for our country, our democracy, and our future would be doing a grave disservice to the word 'disaster.'
If investors avoid the Treasury market, we could be unable to pay off maturing securities, which would mean an immediate default. Market participants generally agree that even a brief default would create potentially catastrophic risks to the financial system, like the meltdown of 2008.
The thing is, Obama is right that it would be a calamity for the government to default on its debt by not meeting its obligations. Such a thing has never happened and can't be allowed to happen.
As a past attorney general I consider a WTO Brexit to be a disaster for us as, leaving aside the economic damage it will cause, it would trash our reputation for observing our international obligations - as it must lead to our breaching the Good Friday Agreement with Ireland on the Irish border.
A lot of the money in the stock market is really our national retirement plan, for better or worse.
Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
Rip Van Winkle would be the ideal stock market investor: Rip could invest in the market before his nap and when he woke up 20 years later, he'd be happy. He would have been asleep through all the ups and downs in between. But few investors resemble Mr. Van Winkle. The more often an investor counts his money - or looks at the value of his mutual funds in the newspaper - the lower his risk tolerance.
It is up to us, to this present generation of Americans, to take a stand for freedom, to send a message to Washington that we're taking our future back from the grips of central planners who would control our healthcare, who would spend our treasure, who downgrade our future and micro-manage our lives.
We really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario.
Not raising the debt ceiling does not trigger a default, because we've got enough money to service our debts. Default is when you can't service your debt.
When we protect our children in their schools or on our streets, we are living up to our obligations - obligations which we should take solemnly.
I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.
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