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The Economy in 2012 And Your Money

How to survive the “it’s okay unless it collapses” economy. We’ll look at your prospects and your money in 2012.

In this Dec. 20, 2011 photo, traders Michael Zicchinolfi, left, and Michael Lawrence work on the floor of the New York Stock Exchange. Stock markets around the world were closing out 2011 on a subdued note Friday, Dec. 30, 2011, with many of the world's major indexes posting big declines for the year in the wake of Europe's debt crisis, a faltering U.S. economy and signs that China's economy is no longer sizzling. (AP)

In this Dec. 20, 2011 photo, traders Michael Zicchinolfi, left, and Michael Lawrence work on the floor of the New York Stock Exchange. Stock markets around the world were closing out 2011 on a subdued note Friday, Dec. 30, 2011, with many of the world's major indexes posting big declines for the year in the wake of Europe's debt crisis, a faltering U.S. economy and signs that China's economy is no longer sizzling. (AP)

It’s 2012 and it’s been a while now since economic good times in this country. Lost houses. Lost jobs. A recovery that limps. Maybe this year will be the year that traction comes back, forecasters say. Maybe, maybe – unless it all collapses under Euro-crisis or China bust or missiles flying over the Straits of Hormuz.

What’s a smalltime investor with a little, maybe shrunken, maybe battered nest egg supposed to do? Where do you turn in this economy so you don’t get whacked? So you might bounce back?

This hour On Point: 2012 and your money.

-Tom Ashbrook

Guests

Robert Pozen, chair emeritus of MFS Investment Management and author of The Fund Industry: How Your Money is Managed.

Diane Swonk, senior managing director and chief economist at Mesirow Financial.

From Tom’s Reading List


The New York Times
“Yet if we go beyond the Beltway and the Battery, to where most of American life is lived, the numbers don’t always add up. Yes, the Great Recession officially ended in 2009. But many millions of Americans are out of work or cannot find full-time jobs. Home prices are wobbly. The foreclosure crisis drags on. And the Occupy movement’s campaign against “the 1 percent” has underscored the ravages of income inequality.”

Slate “Economic forecasting is a mug’s game. There are simply too many unknowable factors that affect “the economy” for anyone to make accurate predictions. The Fukushima earthquake and nuclear disaster, for instance, had a noticeably negative macroeconomic impact around the world, and nobody knows what lurks inside the hearts of central bankers. Plus, if I did possess the secrets to the future, I’d be making a fortune as a speculator, not telling you about it.”

Washington Post “The new year has arrived, and so investors are inundated with all manner of lists: Best and worst stocks for 2012, forecasts of where the economy is going, favorite investments for the year and more.”

Please follow our community rules when engaging in comment discussion on this site.
  • http://freeourfreemarkets.org Steve Banicki

    In an opinion published in the New York Times by Paul Krugman titled Nobody Understands Debt, he says;

    “Of course, America, with its rabidly antitax conservative movement, may not have a government that is responsible in this sense. But in that case the fault lies not in our debt, but in ourselves.
    So yes, debt matters. But right now, other things matter more. We need more, not less, government spending to get us out of our unemployment trap. And the wrongheaded, ill-informed obsession with debt is standing in the way.”

    I agree we should use debt to stimulate now to reduce unemployment and improve growth. I do this with some reservation that our high dependence on imports will surely dampen the affects of any stimulus. We also do need to focus on a plan to reduce our debt/ not immediately but soon.

    I understand that most of the debt owed by our government is owed to Americans. This maybe somewhat better than owing it to foreign countries; however it still is an issue. At some point, if our deficit is not brought under control, interest rates will rise significantly and we will choke on debt service. When the heirs of Bill Gates decide to cash in some of their U.S. Treasury holdings the government will have to pay a much higher interest rate and this will exasperate our problems.

    The President must fight equally hard to stimulate now and to develop a plan to get our deficit under control in the future. Both are necessary. More: http://goo.gl/Wqzr4

  • Gary2

    we need to address the huge wealth and income inequality.  Yes that means TAX THE RICH HARD and spread the wealth more evenly.  Given all the corporate profits I have to laugh when the right says Obama is creating a unfriendly business environment.  What a joke!

    deregulation=decriminalization.

    • JUST CORY PLEASE!

      It is unfriendly when you consider these companies can find labor in other countries that is worth much less than cattle.  Nothing will change for now.  We have further down to go before enough Americans will realize what is happening and act.

      • Hidan

        With the invention of P.R. Americans  aren’t going to realize what’s happening. Just look now, tax cuts and deregulation are still being touted as the end all be all solution.  Companies still get subsidized to outsource jobs and tech. All those Laissez faire businessman have no problem working under Authoritarian governments such as China, UAE, and many others. The only change to this is that some business leaders are now going out of business due to china stealing their trade secrets.

      • CommonSense

        Why would a company look for growth here when consumers are leveraged to their eyeballs and don’t have the skills for the 21st century?  Growth is overseas and that’s where the jobs are going to go.

        • JUST CORY PLEASE!

          Yup.  You are right.  But how do you neglect to acknowledge the role of globalization and cheap labor?

        • Anonymous

          Please provide us uninformed your common -sense list of those skills that are so widespreadly available overseas but are lacked by Americans.  You can skip “willing to work in factory town at slave wages.”

    • Tony, Washington DC

      And what do we do after the rich no longer have wealth to tax oh wise Gary2?

      • Terry Tree Tree

        Prosper, like we did in 1950-1980!

      • Terry Tree Tree

        The rich have never been without wealth to tax!   Next mis-direction?

  • JP

    The title should be changed to :

    “The Economy in 2012 and the Pittance the Wealthiest 1% Have Deigned to Toss at the Rest”

    Of course, that would have put the topic into sufficient perspective that the show itself might have been deemed unnecessary.

    • CommonSense

      2012:  Victimization Goes Viral

      • Anonymous

        I listen to Fox so I already know that it’s wealthy white males who are the real victims.

  • JUST CORY PLEASE!

    In your topic teaser you say there are “high hopes for the economy”.  Where did you hear that?

    Something important I have re-learned in recent years is that humanity does not always move forward.  For every Athenian Democracy, French Revolution/Egalitarianism, and 20th century welfare state there are the dark ages, sweeps of barbarian hordes, and times of organized human exploitation.

    Notions such as retirement pensions/social security, public education, available healthcare, and organized labor are under attack and in fact crumbling as we speak.  There should be no certainty that in 100 years any of these things will exist.  They may be the domain of the priviledged few who can afford them.

    The bottom line…  Western civilization in general and specifically the US are the bloated corpse of an enlightened egalitarian dream.  Cultures who do not value the individual are devouring our excess with the knife and fork of globalization.  I believe we are at the beginning of a decline for humanity.  We will be pitted against one another by wealth and governments.  We will continuously be given less for doing more and be told it is for our own good, or it is all we deserve.  My advice?  Live as simply as possible and value the things that are hardest to take away.

    • JustQuitting

      Perhaps a title more like “High hopes for the economy in a time of overt fascism”.

      A look back to 2011 and the euphemisms applied to any number of conservative “acts” and “laws” in direct opposition to constitutional law to safe guard our security, freedoms, and economy.

      Your advice is wisely arrived at, because fascism mows down the most prominent bumps first, and that includes it’s biggest and most obsequious supporters as well.

      The Patriot act, Citizens united, The 2011 defense bill removing all constitutional rights from US citizens, Candidates campaigning on “removing problem justices” from the system, Mandatory strip searches and Show Papers at points of travel, Incessant conservative media calls to purge the liberals and socialists from America, etc. Too many to name really.. each with a titanic government agency to administer these acts for “the people?”    

      Keep your heads down folks, the scythe of fascism is based on power with a outward face of any number of facile ideologies.

  • John in Danvers

    Tom, please ask Robert Pozen about mutual fund fees.

    We’re now at a point where the typical fund costs around 2%.  We’re also ten years into a zero return market with looking forward maybe 2% GDP and 2% dividends for 4% expected market returns.  Mutual fund managements will then take HALF of their customers returns in fees. 

    • CommonSense

      It’s a fair question, though I don’t think equity returns are less correlated to domestic GDP than they once were given globalization.

      • CommonSense

        Sorry, meant “do think”

    • Terry Tree Tree

      Some of them, like Bernie Madeoff, took it ALL!

  • Gregg

    Obama wants to raise the debt limit another $1.2 trillion. That’ll do it, no problem. Bush raised it so Obama is justified to raise it as high as the sky and still blame Bush. He’ll spend us out of this mess yet. All we have to do is raise taxes on the greedy rich… and outlaw corporations… and build high speed rail.

    • Gregg

      … and print a coupla’ more tril.

    • JUST CORY PLEASE!

      Wow dude, who will you blame for everthing if President Obama fails to win re-election?

      • CommonSense

        Judging by the rhetoric regarding his predecessor over the past three years, I think we get to blame Obama indefinitely.

        • JUST CORY PLEASE!

          I didn’t hear anyone mention his predecessor today (or yesterday, for that matter).

          • CommonSense

            Don’t worry, they will, they always do.  It’s there only excuse.

          • TFRX

            You want to talk to a real economist at any point?

          • Terry Tree Tree

            ‘W’ said he would IMPROVE on the Budget Surplus! 
                Did two wars, tax cuts for the rich, TARP, not regulating the Wall Street banksters, allowing ‘financial planning organizations to bet AGAINST their clients, NOT supervising safety in mining that caused the loss of lots of miners, AND the mines, and a LOT of other crimes and malfeasance INCREASE the Budget Surplus?
                Excuse, or just the truth?

    • TFRX

      When the GOP starts giving a crap about governance instead of flinging feces everywhere, making the ho-hum debt ceiling thing into a crisis!!1!1!one!…

      When the right-wingers stop lining up for stimulus money with one hand while calling the President a NaziMuslimCommunist for getting the package through Congress (thru their propaganda press) with the other…

      Then maybe we can take your tired talking points seriously.

    • nj

      More reactionary blather from Greggg. Who wants to “outlaw” corporations? 

      • Terry Tree Tree

        Gregg?

    • Terry Tree Tree

      Thanks for reminding us that ‘W’ raised the Debt Ceiling 11 times, with the blessings of Congress, coming from a ‘W’ acknowledged Budget Surplus! 
          Thanks for reminding us that ‘W’ started two very expensive wars, while giving tax cuts to the GREEDY rich, that did NOT create the jobs promised for U.S. Citizens!

      • Anonymous

        Obama is using the same political, fiscal and monetary playbook that was worshiped by people like Gregg when “W” was in office, and who now view it as socialism.  Principles mean nothing to those type of thinkers.

  • Anonymous

    Update: WSJ Editorial on the Minimum Wage; Excess Teen Unemployment Rose w/Min Wage

    http://mjperry.blogspot.com/2010/03/update-on-wsj-editorial-on-minimum-wage.html

    • Anonymous

      Bottom Line: Economic theory and empirical evidence suggest that the overall effect of a minimum wage increase is alwaysnegative, on net, and can never be positive, on net. So the only real disagreement is how negative the effect will be, not whether it’s negative on balance.

      After all, if minimum wage laws could have positive net effects and politicians can legislate the creation of wealth with artificial price controls, why are they always being so stingy and miserly with such pitifully small increases; why don’t they boost the minimum wage for unskilled workers up to something more respectable like $25, $50 or $75 per hour?
      This is a summary from the above article and charts.

      • nj

        More deflectionary flak from the right.

        What does this have to do with investments/investing?

        • Sam Walworth

          ask those people who got duped when AMR did it recently

      • Sam Walworth

        If free market was the answer to “everything” and “everywhere” why is it that in US, airline after airline are filing for “restructuring” their costs, and YET we customers or consumers are getting worsening services :)

        I guess, you should say that airlines should  be allowed to stand on the tarmac with their engines shut, with no food or water for 8 – 10 hours as this will save a lot of money for the CEO’s bonus for that fiscal year?

        • Anonymous

          If you think the 
          airline industry is a free market, you need to go back to school.

          That is all I have to say about that!

      • JUST CORY PLEASE!

        Please discuss the NEGATIVE implications of eliminating minimum wage.  Perhaps you are arguing that there would be none?

    • TFRX

      Bottomer line: You had me (laughing hysterically) at “WSJ Editorial”.

  • James

    Tom-  A well respected show like yours could have done far better than getting Robert Pozen as a guest.  I don’t look forward to his condescending attitude.

  • http://neilblanchard.blogspot.com/ Neil Blanchard

    The economy is a subset of the environment, and there are at least 3 factors that are bigger than anything else affecting the world economy:

    Global climate change

    Money corrupting governments

    Peak oil and just about everything else

    I hope these factors are acknowledged and discussed this hour.

    Neil

    • nj

      Unfortunately, it’s not likely, Neil. 

      Almost every one of these discussions about the “economy” never (or, at best, rarely) discusses or even acknowledges the facts of a dwindling resource base, inequities in the corporate-political complex, and the fact that we are approaching, possibly rapidly, the end of the Petroleum Era.

      Most of these blindered, self-interested prognosticators bow the the gods of “Growth” and “Profit” as vectors of economic theory divorced from actual, physical reality. It’s all about bounding and stumbling from one artificial bubble to another.

      A few people—even capitalists—get it. Here’s a hedge-fund manager talking about exactly these issues. When, oh when will On Point have a program that deals with this?

      http://thinkprogress.org/romm/2011/05/02/207994/grantham-must-read-time-to-wake-up-days-of-abundant-resources-and-falling-prices-are-over-forever/

      • Terry Tree Tree

        Renewable Energy and resources, anyone?

  • Anonymous

    Considering the amount of money people lost in funds across the board I would say one has to be very skeptical of the “market” which seems to be skewed to the insiders getting it all and even winning when they lose. The average person with a 401K or IRA is a big loser here. We have not control over what is seeming to me to be nothing more than a rigged game of chance.

    I notice the usual right wing barn stormers are back pontificating and blaming Obama for everything including fall of the Roman Empire. It’s really funny to see these folks who are extremist dressed up as the so called common man. They will take offense at my comments, which is the point. They will go on about how the free market is the way to go and spew on about social Darwinism and how people who are reckless deserve to be homeless and hungry. They will go on about Obama being a socialist even though he’s really a moderate republican dressed up in a democrats suit. They will keep repeating all the GOP talking points which have gone so far to the right it is clear that the GOP is a party of regressive ideology.

    Thomas Wolfe once wrote a book called ”You Can’t Go Home Again”, seems to me this idea is still as relevant today as it was in 1940 when he wrote it. 

  • http://freeourfreemarkets.org Steve Banicki

    The economic and political system of our country is a mess. OWS has done a good job of bringing it to our attention. Now we must do something about it and here is a plan.

    Tuesday, October 18, 2011What The 99% Must Demand!

    1. Prohibit Corporations and Unions From Financing Political Campaigns by Amending The Constitution 
    2. Enforce Anti-Trust Laws against Oligopolies & Monopolies!
    3. Bring Our Deficit Under Control and amend tax code! 

    The above are long term goals that will eventually bring more equally to the economy. The above goals will not be accomplished overnight and we need to do something that will bring the unemployment rate down now. A good start is President Obama’s jobs bill with some modifications brought about by sound ideas brought about by members of Congress and the Senate.
    The purpose of a jobs bill, or any stimulus package, is not to directly create jobs that will be long lasting. Instead, its purpose is to  create temporary jobs that will increase demand for goods and services. This in turn will create an atmosphere where the private sector will create jobs to meet the new demand created by the stimulus. Businesses will add to their work force because their profits will increase because they can sell more products.  More: http://goo.gl/yFYDb

  • Terry Tree Tree

    Small investors should invest in small local companies, and start-ups that they can research. 
       Why invest your money into the gross pay and perqs of GREEDY executives? 

  • Steve

    just one word… plastics.

  • CommonSense

    Ms. Swonk: Europe is the single largest economic zone, how do we avoid recession when Europe appears to already be in one? 

    • Terry Tree Tree

      Europe is buying a lot of stuff from China etc…, now.

  • Terry Tree Tree

    Renewable Energy and resources would be a good investment, IF the investor can do proper due-dilligence research!

  • vermonter

    I’m contemplating taking money out of my 401k (which lost more than $20,000 last year) to help keep us afloat so this is a timely subject. We are desperately seeking some answers and advice.

    • Terry Tree Tree

      Investing in yourself, instead of loosing money in stocks, may be the best answer!

  • nj

    I’m guessing that most people reading these comments barely have enough money to pay their bills, keep the roof from leaking, and, possibly, help put their kids through some sort of post-high school education.

    Without meaningful reform—and there’s none in sight—of the “financial services industry,” much of what is called investing is akin to gambling. One’s money is tossed down a long, dark chute (or into a mysterious, black box…choose your metaphor) where it is subjected to bundling, credit default swaps, instantaneous computerized trades based on arcane software models and other dubious and sometimes quasi-legal machinations. Without incurring considerable risk, returns are negligible, and the prospect of higher returns wouldn’t seem to be worth the risk(s).

    For most of us 99-percenters, i’d think that buying some property and keeping an envelope full of money under the mattress is the best we’re going to be able to do. For those with a bit more, find local investment opportunities that actually help contribute to positive, local, benefit. Screw Wall Street.

    “And the man in the suit has just bought a new car on the profit he’s made on your dreams…” (Jim Capaldi, Low Spark of High-Heeled Boys) 

    • mikey

      I couldn’t agree more. Any formula is only as good as the variables that go into it. These two are looking at economic indicators and making some fairly standard assumptions about “historical patterns” continuing moving forward. The biggest problem with their assumption is that when these historical patterns were created America was manufacturing products – not bad debt. Our biggest export is bad debt. The derivatives market only came into existence in the last ten years before that we has Glass Steagall protecting the economy. MF Global experienced catastrophic failure because they bought credit default swaps with 40 to 1 leverage. The underlying asset – European bonds only had to lose a small percentage of its value. Bank of America has 80 Trillion in default swaps. What do you think J.P Morgan or Goldman Sachs has on their books? Finance is 50% to 70% of the US economy and the current structure of finance rewards catastrophic risk which turns into catastrophic failure. Finance creates a secondary tax system on every aspect of American life – education debt, municiple debt, mortgage debt etc. How much money was lost out of every American’s 401k when Hank Paulson tipped off all of Goldman Sachs to sell short Freddy and Fanny? Those companies were in bad shape but Wall Street was allowed to kill the stock price before the pension, municiple, mutual funds etc were able to get out. How much is lost when the Fed gives out zero interest rate loans and then allows the bank to loan the money back to the government through treasuries. Wake up! We are on the verge of the French Revolution and these two “economists” or Wall Street PR reps don’t have a clue. 

  • CommonSense

    Mr. Pozen:  Consider the debt to GDP ratios of the European constituents and their respective GDP growth expectations and explain how they can possibily meet their obligations when interest rates are moving higher and higher.  How can this group stay together when it is going to require the relatively strong experiencing tremendous pain to support the weak?

  • Anonymous

    how do you find the good locals to invest in

    • Terry Tree Tree

      Use the same effort that you should to invest in the ‘Market’, which is controlled by people and computers that can make 100 trades before you can hit ‘Enter’.

    • Terry Tree Tree

      You might check into local companies that are installing or manufacturing Renewable Energy, or resources.  IF the company has a good history etc…

      • Terry Tree Tree

        That would be an investment in Local Economy, Local Jobs, Cutting Local Energy needs, Improving the Local Environment, and a LOT of other benefits!

  • Anonymous

    For those of us in the working class the only strategy is to pay down debt.  We can’t make any money with our small savings, we can only stash it in a jar in the kitchen. But debt, our debt, only
    makes money for the elite financial classes.  They can’t lose.  It’s very discouraging to see the trap the middle class is in- twenty percent of our earnings go for health insurance! No one who is a pundit or a politician has to deal with the issues we deal with just to get by. 

    • Anonymous

      thank you.

  • BHA in Vermont

    The only ‘problem’ with long term investing in the 3-5 year time frame:
    The market tanked in 2008 and has not yet recovered. The last 3 years have not been good AT ALL.

  • Joe in Philly

    “Golden opportunity?” The risk premium for equities is the only thing that is undervalued in this market. Cash is king in these crazy economic times. The only ones that will make money are the fund managers who are making ridiculous salaries and bonuses. Forget the market!

  • Yar

    All that profit in contrast to wages is the false promise of retirement.  The retirement savings in the market is a lie.  It is not there.  Don’t trust anybody who makes their money off the finance system.  They are the parasite that is living off us the host.  The market is not going to return the money boomers invested at even 10 cents on the dollar in value.  Be prepared for revolution.  All bets are off.  Build community, it is the best hedge against anarchy. 

  • Robb

    A question for the guests: When that demographic bubble called the Baby Boomers start to cash in their stocks… and there are less GenXers to “invest” to keep stock prices high… will the stock market be exposed as a giant Ponzi Scheme?

    • Robb

      My point being was the run up in the stock market a historical fluke? Was it riding the crest of government policies (IRAs) and a Baby Boom demographic bubble that is unlikely to be repeated?  

      • Robb

        Thanks Thom for presenting my question to the guests on air. But you should have included the second comment for context. The DJIA was pretty stagnet for 3 decades between 1952 and 1982… falling in the 500-1000 range

        http://stockcharts.com/freecharts/historical/djia1900.html

        While IRAs were first introduced in 1974, there were some big changes made in the law in 1981. Even now, how much of the growth in equities is due to Fed policies to keep interest rates near zero. There are not many places to get some ROI except in such speculative markets.  

          

  • Concerned

    Please address the issue that many people do not want to invest in the types of corporations open to investment because
    of the way these corporations do business: the bottom line is their #1 concern and to hell with people and the environment, etc.
    I have looked long and hard to find responsible investments, and turned up very very little.  I don’t wish to compromise my personal principles to make some money.  What suggestions are there for people with a little extra money who are looking for responsible places to invest it?  And by responsible, I don’t mean corporations who offer same-sex benefits to their employees in Holland but exploit the environment and workers of South Africa, for example.

    • Terry Tree Tree

      Renewable Energy is hard to export, HAS to be made locally, and will usually employ domestic skilled trades.

  • Joe R

    I get so tired of stock analysts who believe that in the long term the stock market is all but guaranteed to yield a good return.  Tell that to the Japanese.

    • CommonSense

      The lesson from Japan is that deleveraging cycles take a long time.  In the 80s Japanese corporations were leveraged to an unsustainable degree while valuations did not reflect the balance sheet risk, and investors in Japanese stocks paid the price.  In the US we are experiencing the deleveraging of the consumer and soon the US government.  This doesn’t mean it is bad for a multinational US corporation.

      • Tony, Washington DC

        agreed

    • Modavations

      During Clinton NASDAQ was 4500!!!!!!”Diversify and you’re in it for the long term”, are shyster terms. “Boobait for Bubbas

  • Ellen Dibble

    I think I just tied up my retirement funds till I’m 83, for what it’s worth, but I’m waiting for real good advice about how to get that money invested in what’s good for the country.  I can keep working for Activities of Daily Living, but the money that is stowed, that’s partly for me, but partly what I do instead of fighting in, say, Iraq.  It’s supposedly invested in what serves the country. It’s my contribution to growth and innovation.  So I need advice about that.  Not bonds versus “stocks.”

    • Terry Tree Tree

      What’s good for the country, is companies that hire in the country!  GREEDY CEOs, and boards, that make $MILLIONS, while paying foreign ‘political prisoners’ nothing to make the products, ONLY helps the CEOs, and the Despots of the countries with ‘political prisoners’!

  • steve

    How can one believe that what I am investing will not be
    used by large corporations or traders or investment bankers to once
    again doing something like mortgage backed securities and derivatives?  Why should I trust those who were irresponsible and criminal in their previous use of invested money?

    • Terry Tree Tree

      Invest locally, in businesses you know, people you know and trust, which benefits you and your community.

  • http://pulse.yahoo.com/_Y6CO5C2HE4WM2OYGCDVWGPRXXM oldman

    typo – it’s not “it’s okay unless it collapses” – it’s “it’s okay until it collapses”.

    Boom and bust are an integral part of capitalism, there has never been a case where you have one without the other.

  • Dave Snow

    Asset allocation and periodic re-balancing is critical to investing success.  It forces you to buy the asset that is lagging (buy low) and sell the ones that have gone up (sell high), rather than the opposite, which is the downfall of many small investors.

  • Nancy

    What about gold and other precious metals?

    Is it insane to get in at the current levels?

    • CommonSense

      All the gold that’s every been found is still above ground, not consumed, and more is found everyday.  Gold pays you nothing or costs you to store it and has high transaction costs.  Gold is only worth what someone is willing to pay for it, having no intrinsic value.  Gold has not even been a good inflation hedge.  Gold is for trading, not investing.

      • Mike

        Gold has more intrinsic value than any other common medium of exchange.  A dollar has no intrinsic value, and is only worth what someone is willing to give you for it.   Tell someone who invested in gold ten years ago that it is only for trading.

        • CommonSense

          When I can pay for a slurpy with gold, then it’ll be a medium of exchange. 

          • Mike

            For a slurpy, you only need silver.

    • Terry Tree Tree

      Gold and precious metals, are usually precious because they have utillitarian uses.  Gold is a great conductor of electricity, silver a little less.  They have uses other than jewelry!

      • Modavations

        Nonsense.They are inflation hedges

        • Terry Tree Tree

          NOT used in computer circuits, etc…?   IEEE has been lying for decades?

    • Modavations

      yes

  • jim

    Wow, i can’t believe onpoint was able to bring Diane to come and speak this morning. she is one of the most respective economists in wall street. good job.

    • nj

      I would think that someone “respected in Wall Street” would be highly suspicious.

  • Mike

    How can we believe that the guests on the show are investment experts if they haven’t even mentioned precious metals?  They sound like the conventional talking heads you see on CNBC.

  • Pnsret

    Great information, but where do I get reliable, steady info on a day-to-day basis.  Brokers are looking to sell and get fees; I’m never sure of TV advisers.  It’s important to handle what money one has carefully.

    • nj

      One might just as well ask where to get reliable, steady information on horse-track betting. It’s mostly a racket.

  • Yar

    What happens as our population ages and we need to pull 25 percent of the market value out to live on?  Who will buy and how does the market shrink to liquidate so the bubble of retirees can get a return on investment?  The math doesn’t work, attempt to pull out 10 percent of the market value and the market price reduces by more than 50 percent.  It is not designed to shrink, that is the physics of the stock market. It is a fiction.  An aging population cannot all be consumers with no workers.  Who will convert the promise into value?  We could solve the problem by opening up our borders to young workers and keep the dream alive for another generation.  Don’t look at markets or money, look at the worker and who does productive work.  Too many US citizens don’t really add anything to the economy, that includes most of Wall street and the finance industry.  At least the postal service delivers the mail.

  • okitaris

    We now have 2 governments in our nation the chamber of commerce and the civil government.  The chamber of commerce controls more resources than the civil government therefore it is more powerful than the civil government.    So now we are forced to live by the ideology of the chamber of commerce.  Meaning that social programs that people who have been eliminated by the transition from civil government to chamber of commerce government will be left to beg on the street.   To make a major jump into the future should we continue down the path of the privateer the U.S. of A. will look like India.

  • Paul

    So far the advice is fairly plain vanilla, not very helpful for investors. How about using natural gas Master Limited Patnerships (eg Linn Energy, Chesapeake, etc.) that have 5-10 percent yields in an industry likely to grow? Get more creative!! How about Gold and Silver (GLD, SLV)???????? 

  • Guest

    My wife and I got into a mess with job loss and pay cuts. We now have $40000 in credit card debt on 2 cards. We owe $180k on our home which is now only worth $200k. How can we get a loan to consolidate our cards and get them paid off? We can barely pay the minimum right now with student loans, car loan, and utility bills.

  • CommonSense

    Annuities, high expenses plus commissions and low returns.

  • Ellen Dibble

    Considering the larger number of Americans who are not involved in marriages (recent survey), and given what the panelist was just saying about the demand for apartments, you’d think there would be lots of opportunities in developing apartment buildings, and then jobs in managing them, especially since singletons probably don’t want to spend their evenings and weekends doing house-fixing, or maybe are doing a couple of jobs, and really can’t devote that kind of time to it.  I have tried, personally, to invest in an apartment building, but was told, no mortgages for that are simply not on the table.  That was a decade ago.  I suppose single family houses were seen as more profitable.  (Yeah, RIGHT!)

    • Michele

      The trend in urban planning is rental housing – but most of the investors are large developers.  Single family housing is not more profitable there is a huge surplus stock because of the economic collapse.  You were on the right track but might do better rehabilitating older multi-family before trying to develop a new build. Banks love to throw money at larger, more established developers!

    • Terry Tree Tree

      Make sure you find ways to protect yourself, and your property from meth-makers, and other dangerous and expensive renters!!

  • Bagholder

    The rigged markets only makes money for brokers and other parasites.

  • Greg in Boston

    Forget the stock market …. people should examine self-directed IRAs and primarily invest in real estate.

  • Kate

    Best return on investment to date: JazzFest posters!! Many have seen an appreciation of 10 fold plus. Bonus: you get to enjoy the “company” of Louis Armstrong, Mahalia Jackson and Dr. John in the process. http://www.art4now.com has all the vintage poster/price info.  Louis was $59, now worth over $640 and SOL OUT!  You can’t beat that, no matter what the “experts” say.

  • CommonSense

    He’s talking about mortgage REITs and they’re all about leverage.  It works until it doesn’t.

  • Ellen Dibble

    The current caller who wants to use his retirement funds without tax penalty to invest in his own company — I did do that in the 1990s, and paid the penalties.  The panelist who is saying you can take a loan — hey, with your own business, you’re probably not looking at the kind of steep startup that the profiteers expect.  You probably think in terms of taking whatever time it takes.  Doing it right.  So borrowing from yourself — I’d borrow from a bank if I knew exactly when  my business was going to get traction.

  • Steve

    Invest in …

    family, other people, community….

    The more people you care for translates into more people who who will care for you.

    beyond that it is land, food and water time.

  • CommonSense

    My fear is that government’s are so overlevered that there is going to be further and dramatic steps taken to confiscate savings.  You should think about this as you contemplate making IRA and 401(k) contributions.

    • Yar

      “dramatic steps taken to confiscate savings.”It is called inflation, and the steps are not dramatic, for every dollar promised not backed by real work, is really just a false promise.  The purpose of money is to trade work over time, when money is made without work it is a tax on the existing promise.  This is as true in the private market as when the government prints money.  Much of our economy is moving the scale by which we measure money.  This is nothing new, look up the term talent in Wikipedia. http://en.wikipedia.org/wiki/Talent_(measurement)This is what the finance industry does.  Adjust the scale and then claim growth.

      • Modavations

        There’s been a futures market since Adam and Eve.

        • Yar

          Yes, and the economy of sex is for another show.  Trading work over time.  My son just finished reading Super Freakeconomics. He finished the book and ran down to tell me about chimps that researchers had taught to use money.  First they fought over the money, then they used it to buy sex.  Is this how we define civilization, or how we see ourselves as so much better than animals?

          • Modavations

            We are animals.Conscious thought is a survival technique.Freud said money is for procuring mates and that sex is what it’s all about.

          • Terry Tree Tree

            You just got on the wrong side of the ‘conservative’ ‘Christian’ ‘right’!

  • Anonymous

    USA Today — “Flush with cash from an oil boom and plentiful jobs, North Dakotans are snapping up homes 1,500 miles away in balmy Arizona, where prices have plunged since the real estate bubble burst. 

    “It boils down to the weather and taking advantage of the market,” says real estate agent Rocky Parra of HomeSmart Realty in Gilbert, Ariz., a Phoenix suburb. He and wife Beverly, a native of Minot, N.D., have sold eight homes to North Dakotans in recent months. Parra is heading to North Dakota this month to meet with possible buyers.

    “A lot of people have struck it rich,” he says. “Oil companies are coming in and buying businesses and land. They’re selling up there at the peak and buying down here at the bottom.” Some want second homes. Others move outright.”

    MP: Drill, drill, drill in North Dakota = jobs, jobs, jobs = real estate sales, sales, sales in Arizona.  This provides another excellent example of the many positive spillover benefits of America’s new age of energy abundance. HT: Nick Schulz

    • nj

      Again, nothing to do with the topic.

      Fossil fuel “bonanza” = another, short-term bubble. Exploit, expand, crash, burn. Short-term “gains.” Not sustainable.

      The right wingers seem to like this sort of thing.

    • Anonymous

      That’s good for North Dakota, but we have over 14 million people out of work and I’m pretty sure the good people of North Dakota, while they seem like friendly folk, are not inclined to have all 14 million of them move there. 

      • Modavations

        You’re idealogogy confuses your thinking.No matter what benefits redound,you’d be against it.Oil is evil,plain and simple.Open Anwar,the Gulf,Buford Bay and Anwar and 40,000ish go to work tommorrow.Open a Green Economy business and 100 go to work for 60 days and the co. will declARE A $500 million dollar bankruptcy

        • Terry Tree Tree

          MANY Green Economy businesses have employed FAR MORE than 100, for more than 60 days! 
             Shall we judge ALL energy companies as Enron?
              Shall we judge ALL financial companies as Lehman Brothers?
              Show me ANY endeavor WITHOUT some failures?

          • Modavations

            Let me see,Mobil,Exxon,Shell all post profits.Your Green Success story is which?Tom Edison eschewed Govt.assistance.

  • Tom

    Twitter did not cause the Arab Spring. That is so naive.
    Iran had demonstrations and huge social media use a couple of years ago, but failed to change.Egypt would have had a revolution with or without social media, as would Tunisia.Libya would have gone no-where without massive NATO intervention.Syria is not getting anywhere right now.I can’t believe everyone is saying social media made it work.

    • Tom

      Oops, wrong program.

  • TomK in Boston

    My primary fear for the economy is that deficit hysteria, which has been put forth in a really magnificent propaganda campaign, will justify enough austerity to push us into Great Depression 2. If DC listened to real economists we’d be spending like crazy and taxing the rich.

    Look at this really neat graph. It shows that taxing the rich is GOOD for the economy, taxing the middle class is bad. It’s obvious to anyone who has not been brainwashed that taxing the rich is good: it takes $ out of the paper economy (wall st casino) and outs them back in the real economy.

    http://farm8.staticflickr.com/7161/6598794011_23848e4dac_z.jpg

    As for investing, the key point for me is that interest rates are going to stay low, so look for yield. This is doubly true, given that any move to more austerity will produce depression-like deflation. Munis and utilities kicked A in 2011 and should continue to do well. Low rates are especially good for leveraged muni CEF. Someone else mentioned oil&gas MLP. Maybe REITs. I like emerging market bonds. Treasuries were awesome in 2011 but I wouldn’t buy them now. Even though I hate the financial sector, I think it is so beat down that it is a good bet for big long term gains. Gold is a bubble popping, wouldn’t touch it.

  • Anonymous

    Your guest repeatedly point out that a 3-5 year perspective is necessary.  And I think most real investors, even at the smallest level, rarely if ever make a trade or move money around in response to daily news.  So just who is making the trades that lead to such short-term volatility?  How can someone moving in and out of a position within minutes, or even seconds, be termed an “investor”?  The market currently is a vehicle for traders, not investors. 

  • Modavations

    Economists are charlatans.I’d sooner get my advice from Druids throwing “rune bones”.There is nothing out there that will pay you more then 3% and still let you sleep at night.What book was it that described a chimp throwing darts at the NYSE and beating the experts?.Privatize everything.Let the Fed.Govt. protect the borders and serve as a referee.Let the church,temple and family ministrate welfare.And for christ sakes,drill baby drill, so we can finally turn our backs on the mideast tyrants 

    • Terry Tree Tree

      Churches, temples and families DO NOT ministrate welfare, and haven’t for decades, unless you kowtow to their denomination!  They’re too busy building more expensive temples, and buying businesses to non-profit compete, with businesses that pay taxes!
         Oil wells have been capped off in the U.S. for decades, to get the higher prices of foreign oil, for the oil company CEOs! 
          Oil is easy to export, so it will go to highest bidder, foreign or domestic, or where CEOs want it to! 
          Renewables are nearly impossible to export!  National Energy Security?
          The tyrants of Industry and Congress will NEVER turn their backs on the mid-east tyrants, that they give mutual support to!
          You rich are doing such a good job of paving roads that you use?  Building private schools for the public, WITHOUT public funds?  A whole list of public utilities and services?  Out of the goodness of your hearts?   Civic-minded-ness, or do you TAKE more than you pay for?

      • Modavations

        Afford School vouchers,private social security accounts,private health accts,etc.My “self interest”(as in Adam Smith),has fed more then all your misguided welfare.The road to hell is paved with good intentions. 

        • Terry Tree Tree

          Child-molesting priests will be so benevolent?  Good to trust your children with?  Other church denominations have had similiar problems!

          • Modavations

            Pervert Priests are Democrats.Just a lesser species of “Social Worker”.You allude to your trauma daily,but You’re dying to tell us the story,so let it rip.I, for one,am bored to tears

          • Terry Tree Tree

            The accounts of Child-molesting priests are decades-old, if not centuries old!  The accounts of the Catholic church CONDONING that molesting, are decades, if not centuries old! 
               The accounts of the Catholic church doing the moral, honest, proper, just thing, are decades, if not centuries into the future!

    • Anonymous

      Here’s what I hear you saying:

      The system of publicly owned and traded businesses is a complete hoax.  Therefore let’s publicly sell and trade EVERYTHING, including duties we have always entrusted to our elected government.

      Such a completely non-sensical position well illustrates the depth of your thinking.

      • Modavations

        You hear through an idealogically biased ear.I just push a button and my Ameritrade account buys and sells “toute de Suite”.To beat the market you need to peer into the future,or know the financial officer(insider trading is illegal).Privatize everything but defense.

      • Terry Tree Tree

        AMAZING insight!  HYPOCRICY anyone?

  • Modavations

    Interest payments paid this year alone will be 457 billion.The Post Office cost 6 Billion,NASA 15 billion,Amtrak 6 billion(?)……………

    • TomK in Boston

      LOL, the rest of the world wants to loan us their money practically for free. Gawd forbid that we should pay for a nation with postal and rail service, huh? There is no “debt crisis” or whatever you call it. That’s propaganda from the far right who want to dismantle our middle class society, or the part they haven’t destroyed already. If you drank te kool aid, at least get consistent and start agitating for higher tax rates at the top.

      • Modavations

        Firstly people lend us money because they feel our banks are safe.We insure to $200,000.00,while Europe is 70,000-100,000.Secondly,my point was how ghastly our interest payment is.I’ll say it again $457 billion in interest this year alone.Cut the spending and reduce the interest payment.

      • CommonSense

        Have you considered unfunded and ever-growing obligations like Medicare/Medicaid and funds borrowed from SS in light of the undeniable demographics of this country?  Deficits, debt and interest payments as a percentage of government budgets (the government’s slice) and GDP (the whole pie) are at all time highs.  This condition took decades to create and it will take a similar amount of time to undo.

        • Modavations

          Indeed you do have “common sense”.

        • TomK in Boston

          Really? Funny, I remember the clinton-era discussion about how we were eliminating the deficit too quickly, which would be bad, since a moderate deficit is a good thing. The bush tax cuts were justified by the clinton balanced budget.

          We didn’t flipflop to deficits because of a spending binge, it was wars, tax cuts, and the economic crash caused by the deregulated bankers. Common sense is to reverse the mistakes that caused the problem, not to go on an austerity binge slashing good programs.

          Medicare spending is high because health care is expensive, but medicare is less expensive then private insurance so radical right plans like ryan groupons will increase total costs by throwing seniors to the mercies (NOT) of WellPoint et al. 

          If you’re concerned about deficits you should be for higher tax rates at the top, which would amount to nothing but a return to our historical norms, and if you’re concerned about health care costs you should be for national health care.

          • CommonSense

            I believe the discussion around the turn of the century considered the potential elimination of government debt as a theoretical concern, given that other interest rates are benchmarked off of Treasuries.  In any case, the spending numbers tell a different story, and your explanation of the financial crisis is overly simplistic.  Even if you had a point, defining “good programs” is the rub. 

            Relativism doesn’t solve the deficit or debt or address demographic facts. 

          • TomK in Boston

            Sorry, the primary cause of the bush crash was deregulation of the financial predators, and if you’re gonna complain about “simplistic”, I suggest you resign from interned boards or at least have a look at the gang that thinks slashing gvt spending and taxes is the solution to everyone. Now THAT’s simplistic.

            Actually, the elites want tax cuts so they can grab even more of the pie, and they will use the excuse du jour to justify them, even if it’s an impending surplus.

            Recessions cause more use of the safety net and lower tax collections, ie more debt Meanwhile GDP drops do debt/gdp rises even more. Recessions cause deficits. If the economy got cranking again, with a decent progressive tax structure, the big bad deficits would be lost in time, like tears in the rain. That’s what happened to the WW2 debt. Of course, the right just sees the irrelevant short term deficits as another class warfare opportunity.

            It’s easy to identify “good” programs: SS, medicare, basic research, NASA….all you have to do is look at the results with non-ideological common sense.

          • Modavations

            To quote Carville.It’s was “the spending stupid!!!!We pay for S.S. and Medicare.NASA became welfare for Nerds.

          • KF

            Thank you for pointing out to people that the huge increase in deficit is in part caused by the recession, not the other way around. The deficit is a problem only in that the interest takes away from other government programs and bad credit could reduce our ability to borrow in the future. Austerity will not directly create jobs, only result in more unemployed from public sector layoffs, who would then look to burdening the social safety net.

          • Modavations

            Austerity proves resolve.If you cut the budget by 5% per annum,( until the unemployment rate is 4.5%),gold would fall to 500oz. over night.GAO says we lose 200 billion per annum in redundant programs.Berman,on his way out the door,said Medicare could be losing up to 130Bill.per annum in waste and fraud,etc,.

          • Terry Tree Tree

            So you and the GREEDY rich LEAD the way of austerity, by giving back ALL the taxes that were cut to CREATE JOBS, so the gov’t. can create jobs!  Don’t forget the interest, the penalties, and facing charges of Income Tax FRAUD!

          • Modavations

            What were the jobs created with the 2 trillion stimulus 1 and two?Jobs saved is an Obama invention!!!!Between TARP and the two stimulus shams,we could have cut every working stiff, a check for 13,000.00.All the crony capitalists and Wall St.Big Wigs, are Dems..I think Wall St donated 2 to one Dem.to Republicans.Pervert Priests are just a subset of the Dem.SOCIAL WORKER pARTY.Most people get over their abuse,or sue.They don’t wear it as a badge of honor.

          • Terry Tree Tree

            Abused people may go on with life, but FEW ‘get over’ their abuse.  Especially those abused by an Authority Figure that claims to be able to condemn a child to Hell, if they tell! 
               Obvioulsy, if you have encountered any, they saw that you have no compassion, and did NOT tell you!  Like war vets, they keep their pain to themselves, rarely telling someone without knowing them.
                How callous of you to accuse anyone of wearing abuse as a badge of honor!  Disgusting statement!
               The abusers seem to hold it as a badge of honor!  THEY brag about their abusing.
               Pervert Priests fit much better in the ‘conservative’ set.  Their HYPOCRICY  is their way of life!

          • Modavations

            I had no idea the rich breathe different air then the proleteriate

          • Modavations

            Picture perfect debt is 3% of GDP.We’re running over 10%

          • TomK in Boston

            Recessions cause deficits, austerity causes recessions. Getting your knickers in a twist about deficits during a recession and slashing gvt spending is the worst possible response.

          • Modavations

            I disagree.Showing fiscal restraint(like all of Europe) is in itself, a stimulus.Do you realize we will spend 457billion in interest alone,this year.Again,overspending is and will always be the problem.

          • Modavations

            Divy up Medicare and Medical and you could pay everyone $800ish permonth.You could buy a nice policy with that, everywhere except Boston.

      • Modavations

        Germany privatized it’s post office in 2000

        • Terry Tree Tree

          The U.S. ‘privatized’ the Post Office, decades ago!
             It’s NOT a ‘government service’ since then!

          • Modavations

            I had no idea the U.S.govt.had denied our “privatized” post office the 6 billion they need to continue.Where is the P.Office stock traded?20% of the German P.O.is owned by the govt.,the rest is in private hands.

  • Modavations

    I asked all my Mexican Pals if they too, were fascinated with our  word “Troll”.They hadn’t the slightest idea what I was speaking of.I guess it’s a fad amongst 21 year old, lefties.

    • nj

       I was just thinking how nice this place was beginning to smell since the air had begun to clear from the malodor of the Troll Squad’s incessant spew of steaming garbage.

      • Modavations

        You are now the last man in the world who uses the word Troll.

        • Anonymous

          No he’s the second to last your trollness.

    • Anonymous

      I’m not sure why you think your so funny, because you’re not. It was really nice not read your inane comments.
       

      • Modavations

        Like ants stroking each others antenea.What is this,a self help forum?.Go pontificate on a right wing blog.You’re preaching to the choir

        • Anonymous

          Good advice, go preach to some right wing choir.

          • Modavations

            I’m here to convert you,not stroke your antenea

          • Anonymous

            You need too know more about history for me to take you seriously. Converting me to what? Another you…
            Not very likely.

    • Terry Tree Tree

      You left off your “J” again!   Getting senile?  Too much playing with Mercury, and eating lead-based paint, all those decades ago?

      • Modavations

        I keep forgetting the niavety of half the audience

        • Terry Tree Tree

          That’s the lead and mercury!

  • William Bown

    Message from Bill  Should I take a defined pension benefit over my life  or over my dependent daughter’s life?

    • CommonSense

      A defined pension benefit is like a bond; so the central question is how much confidence do you have in the credit-worthiness of the issuer?  Personally, I’d take a lumpsum distribution if you can and buy a bunch of bonds from diversified group of issuers; but I know nothing about your personal financial situation and hesitate to make any recommendations.

  • mikey

    Horrible financial advice. 

    Bank of America admitted to 80 Trillion in Credit Default Swaps on European sovereign debt. MF Global failed on only a slight drop in the value of this same debt because they had 40 to 1 leverage. How do you run an economy when our biggest industry is the manufacture of bad debt? Some trader is enjoying a hundred million dollar quarterly bonus right now because they took suicidal leverage that will blow up their investment bank within two years. The most important incentives in the financial sector are horribly wrong and the finance sector is 50% – 70% of the US economy. It is only a matter of time. God help us. 

    • Modavations

      The financial sector accounts for 5-8% of GDP.The US manufactures 25% of world output

      • Anonymous

        Then why does that insignificant sector account for over 40% of US corporate profits?  What kind of fundamentally flawed system would lead to and accept that result?

        • Modavations

          A free one, with all the ebbs and flows.Adam smith’s invisible hand!!!!I do not except your 40%

  • Jon & Gladi

    Tom,

    What is happening?Listening to you lately we notice you are, “running over your guests”, i.e. today, Economy 2012,  you would not let Diane complete her comments. We miss your old style: calm and letting guests complete their thoughts, comments to feed open discussion .

    Jon & Gladi ( Juneau, Ak.)
    Faithful Listeners

    • nj

      I have to say, i’ve noticed the say thing. I assume that Mr. A’s. intent in doing that is to help energize and move along the conversation, and sometimes it works, but, increasingly, it seems, when the interruptions and interjections are nearly continuous, it becomes really annoying. 

      For a marked contrast in interviewing/discussion styles, note Terry Gross (Fresh Air) who, after posing the initial question, steps back for much longer intervals of time and allows the guest to talk uninterrupted or puncutated.

      • Tim E

        Yes, but Terry Gross sometimes seems uninterested in her guests and uninspired by the subject matter.  Tom Ashbrook brings energy to every conversation, even so much as to seem to inspire his guests about their own area of expertise.  That quality is many times over worth the risk of too enthusiastically interjecting over his guests, so long, I agree, that it is tempered if it becomes too common.

  • Tamara

    Robert Pozen + Mesirow Financial
    http://www.mesirowfinancial.com/company/people/board_members.jsp
    Why can’t we find guests who are Japanese, Latino, African American, Chinese, Irish or Senegalese?  When it comes to Money, Economics, Middle East Policy or our Pockets and Bank Accounts … why does it always have to be a from a tiny religious group? 

    We don’t understand this

  • Dce12r

     Economists have physics envy! I tend not to listen to them. 

  • Tamara

    Robert Pozen + Mesirow Financial
    http://www.mesirowfinancial.co
    Why can’t we find guests who are Japanese, Latino, African American, Chinese, Irish or Senegalese? When it comes to Money, Economics, Middle East Policy or our Pockets and Bank Accounts … why does it always have to be a from a tiny religious group?

    We don’t understand this …. why all the money matters are always have been handled by people who have relatives in Tel-Aviv?    

    • Anonymous

      Who are the we? Are you a spokesperson for the greater “we”. Un called for comment as well. Were are the moderators?

    • Modavations

      In America you are free to be a bigot

      • Anonymous

        …and I’m free to call you out for being one. You are also responsible for the kind of speech you use in a public forum.

  • Cime

    It shows where they want to take this country! If you want to retire, then you better be Wallstreet smart! Or forget it!! They say good luck! Exactly! Because you’ll need it!! We are now one big market driven casino, depending on the stock market for retirement, as never before! I feel sorry for future generations!!

    • Terry Tree Tree

      EVERYONE is equipped and trained to make stock trades, in nanoseconds?  If NOT, you won’t have a chance against the REAL Wall Street!  THEY can make thousands of trades per minute!

  • Tim E

    The stock market is largely about human psychology, which  goes up and down by nature, and consistently so.  So the market will never go down to stay, because even if the economy shrinks and never rises again, human psychology will adjust to the new range, reacting as it does now to create highs and lows by which profits can be made and lost.

ONPOINT
TODAY
Jul 29, 2014
The U.S. Senate is seen on Capitol Hill in Washington, Wednesday, July 16, 2014. (AP)

The “Do-Nothing” Congress just days before August recess. We’ll look at the causes and costs to the country of D.C. paralysis.

Jul 29, 2014
This April 28, 2010 file photo, shows the Colstrip Steam Electric Station, a coal-fired power plant in Colstrip, Mont. Colstrip figures to be a target in recently released draft rules from the Environmental Protection Agency that call for reducing Montana emissions 21 percent from recent levels by 2030. (AP)

A new sci-fi history looks back on climate change from the year 2393.

RECENT
SHOWS
Jul 28, 2014
U.S. Secretary of War Newton D. Baker watches as wounded American soldiers arrive at an American hospital near the front during World War I. (AP Photo)

Marking the one hundredth anniversary of the start of World War One. We’ll look at lessons learned and our uneasy peace right now.

 
Jul 28, 2014
This June 4, 2014 photo shows a Walgreens retail store in Boston. Walgreen Co. _ which bills itself as “America’s premier pharmacy” _ is among many companies considering combining operations with foreign businesses to trim their tax bills. (AP)

American companies bailing out on America. They call it inversion. Is it desertion?

On Point Blog
On Point Blog
Our Week In The Web: July 25, 2014
Friday, Jul 25, 2014

Why the key to web victory is often taking a break and looking around, and more pie for your viewing (not eating) pleasure.

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The Art Of The American Pie: Recipes
Friday, Jul 25, 2014

In the odd chance that our pie hour this week made you hungry — how could it not, right? — we asked our piemaking guests for some of their favorite pie recipes. Enjoy!

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Hillary Clinton: ‘The [Russian] Reset Worked’
Thursday, Jul 24, 2014

Former Secretary of State Hillary Rodham Clinton took time out of her global book tour to talk to us about Russia, the press and the global crises shaking the administration she left two years ago.

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3 Comments