Free Republic

AGING populations in America and Europe raise many economic concerns. A popular one is whether aging baby boomers will tank the stock market. That’s story in this Wall Street Journal article, which says that when baby boomers bought stock to fund their retirement, that drove up share prices in the 1990s. Now, on the cusp of retirement, they will sell their shares so prices must fall. This theory appears to be confirmed by a figure from the San Francisco Fed, which shows a strong correlation between the price/earnings ratio and what they call the M/O ratio, the ratio of people age...

(Reuters) - Will the baby boomers be the only generation to retire with 401(k) plans? It could happen. Last week many of the nation's biggest thinkers on retirement got together in a Senate hearing room to discuss the future of pensions and retirement. There were representatives of unions, employers, financial services providers, government agencies and consumer groups. And the only thing they all seemed to agree on was this: The 401(k) plan has been sort of a failure. Those are strong words, and probably overstate the case. Current and future retirees now have some $4.3 trillion for retirement that wouldn't...

WASHINGTON – Ben Bernanke presided over his first meeting as Federal Reserve chairman in March 2006 believing the nation's economy could pull off a "soft landing" from falling home prices. Three months later, Bernanke had begun to grasp that he and others had underestimated the risk housing posed to the economy. Newly released transcripts of Fed meetings during Bernanke's first year as chairman show that, among Fed officials, he often expressed the most concern about housing. But no official, according to the transcripts, recognized the extent of the damage a housing bubble would cause. A year later, the housing market's...

This seems like a really bad idea to me. Talk about crony capitalism. Individual buyers will be shut out from buting these properties.

When it comes to the feminist version of history (sorry — herstory!), it’s hurrah for Gloria Steinem. She started a magazine nobody ever read. And cheers for Billie Jean King, the tennis player who proved a young professional athlete could beat a 55-year-old slob. Give it up for Indira Gandhi and Hillary Clinton, who proved that you could sweep into power on the coattails of your dad or husband, and by all means let us celebrate Oprah Winfrey, who proved that you could spin mystical mumbo-jumbo, airy empowerment talk and perpetual wounded victimhood into a billion-dollar sisterhood racket. What about...

If you heard more "Merry Christmas" than "Happy Holiday" during the 2011 holiday season, it may be a sign that using "Politically Correct" language is going out of style.

The bust that began in 2007 has just begun to ravage tax revenues in communities from coast to coast. The problem is unlikely to subside soon. For instance, Baltimore collected $815 million in property taxes during the most recent fiscal year. Next year, the figure is predicted to shrink to $803.5 million. The following year, $773 million. The year after that, $735.7 million. The year after that, $729.4 million. “I don’t see any quick fixes over the next four or five years, to be honest.” Baltimore already faces a budget deficit of more than $50 million next year. “Obviously, it...

MONA CHAREN DECEMBER 23, 2011 Merry Manly Christmas and Hanukkah The code of the gentleman is not obsolete. This is the time of year to turn our thoughts to noble sentiments and inspiring stories. William Bennett, who has established something of a cottage industry in uplift, has a new book out that celebrates and explicates all that is bracing, wholesome, affecting, and necessary about men and manliness That such a book is required, it must be acknowledged, is not good news about our cultural health, and Bennett introduces The Book of Man: Readings on the Path to Manhood with tidings...

Real estate agents are famous for putting a listing in the best possible light to close a sale. On Thursday, the industry's national trade association confirmed that its monthly data have been painting a rosier picture of the pace of home sales since 2007. As msnbc.com reported in March, the National Association of Realtors has been overstating the pace of existing home sales by more than 16 percent. The trade group now says just 17.7 million existing homes were sold from 2007 to 2010, not the 20.6 million it originally reported. The NAR made no changes to its data on...

State officials say a New Jersey man and his adult son were wounded in a pheasant hunting accident this weekend, then shot a second time while they were discussing the first mishap with authorities Both shootings occurred Saturday morning in the Colliers Mills Wildlife Management area in Jackson. The first shooting involved a single hunter who fled the scene, while the second involved a group of other hunters. The victims — identified only as two Jackson residents, ages 60 and 34 — each had pellet wounds to their face and hands, but the injuries were not considered serious. A state...

30 percent of home owners "under water". Home values will drop another 3-5 percent and stay at that level the next few years.

WASHINGTON — Who is paying for the two-month extension of the payroll tax cut working its way through Congress? The cost is being dropped in the laps of most people who buy homes or refinance beginning next year. The typical person who buys a $200,000 home or refinances that amount starting on Jan. 1 would have to pay roughly $17 more a month for their mortgage, thanks to a fee increase included in the payroll tax cut bill that the Senate passed Saturday. The White House said the fee increases would be phased in gradually. The legislation provides a two-month...

Single-family originations will likely dip in 2012 because of fewer refinances, according to Frank Nothaft, chief economist at Freddie Mac. The market will see a refinance burnout, Nothaft said, with a dwindling pool of eligible borrowers and higher mortgage rates by the second half of 2012. Nothaft projects $1.3 trillion in single-family mortgage originations in 2011, compared to $1.14 trillion in 2012 and $1.07 trillion in 2013. The Freddie Mac projections for 2012 come as a Pew Research Center study showed a record-low number of adults married in the U.S. About 51% of all adults were married as of 2010,...

Tens of thousands of people took to the streets in Moscow today, in the largest of more than 70 protests across Russia, to voice their anger at alleged election fraud and to demand that the results of the parliamentary elections be cancelled, a new election be held, and Prime Minister Vladimir Putin resign. Opposition leader Boris Nemtsov, one of the organizers of the rally, explained the protesters’ demands to ABC News. “Our demand is to cancel these criminal elections, because Putin stole about 13 million votes. Secondly, to fire Mr. [Vladimir] Churov, who is responsible for the election and to...

Imagine that you are in the business of lending money. At one time, the business model was simple; money was lent to people who had a high probability of repaying it. The rules were then changed by federal government in the interest of "fairness," with laws passed such as the Community Reinvestment Act (CRA) and federal agencies like Housing & Urban Development (HUD) activated. To stay in business, you must follow the government's dictates. Then the government changes the rules again by changing the percentage of loans that go to certain types of borrowers in the interest of "fairness." Just...

Stocks closed in negative territory in thin, shortened trading Friday as investors were reluctant to go long ahead of the weekend and amid ongoing worries over the euro zone. The Dow and S&P posted their worst Thanksgiving week since the Great Depression on a percentage basis. The Dow Jones Industrial Average erased their gains to finish lower, led by H-P [HPQ 25.39 -0.39 (-1.51%) ] and Chevron [CVX 92.29 -1.46 (-1.56%)]. The S&P 500 and the Nasdaq also ended lower, logging a seventh consecutive decline. Some traders are watching for 1,150 on the S&P as the next key level. The...

Why work in America?

For decades we were warned that when the Baby Boomers started to retire that this country would be facing a retirement crisis of unprecedented magnitude. Well, that day has arrived ladies and gentlemen. Back on January 1st, the Baby Boomers began to retire and more than 10,000 of them will be retiring every single day for years to come. Most of them have not saved up nearly enough money for retirement. At the same time, private sector pension plans are failing all over the place, hundreds of state and local government pension plans from coast to coast are woefully...

Thanksgiving is the holiday that pulls families together, squeezing them around a table for a feast of turkey, tradition and togetherness. We encourage conversations meant to be personally relevant, but sometimes they turn into a horizontal Babel, with each generation speaking in a different tongue. It's a stretch to identify an entire generation by its tastes in fashion and music, but such tastes offer strong clues. You can separate boomers from Generation Xers and millenials by who prefers the Beatles, Michael Jackson or Lady Gaga. Seniors who came of age during World War II still groove on Glenn Miller and...

Dee Dee Myers, former press secretary to President Bill Clinton, goes on Meet the Press and calls Newt Gingrich a political "sociopath." Does moderator David Gregory call her out? Nope. To the contrary, Gregory proceeds to play a clip of convicted felon Jack Abramoff accusing Newt of "corruption." View the video here.