10/11/2009 Money Show News.

" She eyed Susan Kaplan. "

" 7822196. -- number here on its -- Verizon Wireless phone -- the queen of mutual funds the Einstein investing yourself Susan Kaplan is not here today she is traveling and she's actually on on. On -- Correct pronunciation whatever she is going where she's she's she's going which he's going right now so she wasn't able to call and let the Paul and I and Matt. -- assistant that it will be holding on the -- again we have -- 617822. -- 969 pollen and it's excellent free call Verizon Wireless phone user and we're gonna go to as phones and a couple of minutes but first as I mentioned I pulled this out of The Herald I was gonna read last week didn't have a chance. There's a double edged sword to what's going on the reaction to the recession. The the heading of this article recessions spawn. Any pitching looks permanent and read the articles from it's an Associated Press article and then comment on that a little bit the year after shop till you -- stop the nation fixate on the this question will Consumer Spending -- return. To pre recession levels increasingly the answer appears to be no. Belt tightening in bad times is normal and after every other recession since World War II penny pinching quickly fell out of fashion and Americans resumed their demand for houses cars and everything else this time it's different. Like the Great Depression in the 1930s great recession seems destined to turn many Americans -- the last thing coupon can't cutters -- And sabres now is the good. On from the consumer side. And we've been saying that for years here in the -- that people should be saving more effect. Of development developed nations the United States I think has -- on the lawlessness not the lowest. The percentage savings rate which is not good especially when you consider how expensive retirement QB and now back the article consumers dug a debt Pall over the past decade which is no easy climb out the population segment the drive spending the most -- baby boom boomers. Face is this a special pressure boomers are running out of time I -- before retirement. A study by research firm. Alix partners concluded that once a new normal normal sets and I UN the recession is is. Not officially over principle is that for she'll over war when people feel that is officially over Americans will spend at about and I know how they come up with these percentages. 86% of their free. Downturn level bottom line is. They gonna spend at a level less than what they spent four in an economy driven by consumption the implications are far reaching if that forecast proves correct now. And take what I'm about to set a what this article says with a grain of salt until he won the second number one. For every kitchen not remodeled -- lost sales of appliances and supplies. And fewer jobs for designers and contractors what they don't tell you is that a lot of people instead of buying a new house are going to expand on their house -- we're seeing that already which means that although people -- may not -- the -- they will be adding an addition onto your -- home -- would have that big an effect on on the contract industry probably not as much -- this article and -- to -- number -- for every shopper who -- down from luxury stores discount stores it will mean less -- retailers and manufacturers again. That's not totally true it initially be true but one thing at the this article does not doing allotted and I've said time and again I and the the yen. Financial press does not -- a generally do good job covering -- covering things -- as in depth as they have. What happens in any economy is people adapt. And what you're gonna see yes you gonna see less some high price article but -- gonna see people buying more of the lower price on our articles. And and and product so. Over time I think I think. It. Knew the in the economy will will blow. At John and and and things will be okay number three -- sales of cars and trucks average close to the recession level of ten million years than the sixteen million year boom times more supplies wolf will fail and for the consolidation among. Auto makers could occur now. Frankly I think. To some degree we had too many to many ordeal is too many auto makers and T and endurance just too too many cars that GM is now the G new GM it's the leaner -- as they say Aegean and that's a good thing because there -- a lot of lot of their dogs a lot of products and -- in -- society that really don't need to be. And there's a lot of products that are that cross overs and and and there's competition is good. But some time in camp two or three a four choices of a particular type of product that's good if you get. 152030. Choices of the same product it's that that generally is not a good thing and -- back to the article article frugality may be good. Be good for family budgets. But it's bad for the at national economy again initially it will be because it's gonna make the recession. The come idea. Recovery from the recession recession slower but. I think in this article very much under two under plays the fact that frugality may be good for family budgets it's very good family budgets in fact one of the problem that the and it's not just just step families is businesses as well because if you remember the reason that we -- incident a lot of reasonably we've got -- this problem but basically there was a credit crunch and part of the reason the credit crunch -- B ports -- too much money before buying homes they couldn't afford people bought. Buying homes include report and then barring all the equity they had out of it and that's one of the reasons why beat this recession which should have been a very short lived. And not horrible recession turned into what is now called the great recession -- bottom line is yes things are changing people are not gonna spend as much money as before. They gonna save more money which if you lose is money shall we we preach all the time and the economy will recover in this article makes it look like the united it's the US economy is is you know a Third World economy your second world economy it's not it's still the biggest and best economy in the world yes we've gone through a tough time yes it's easy to say that win if you if you're out of a job if you're a as the as the old saying goes if if -- if your neighbor loses their job it's a recession if you lose your job it's a depression and that the the one thing that the worst part of this is that it's because there -- set we're gonna recover from the recession so slowly of people again who are out of work are gonna get jobs back slowly the unemployment -- gonna go down slowly nevertheless. Ultimately I think is going to be good thing people are gonna spend less money on credit cards which is a good thing people -- gonna save more money for retirement which stupid thing and the economy overall. --"

" I haven't quite confirm my mother who lives and the cheapest."

" He had a Condo. Which is apparently about to buy her."

" I don't care what it's assessed by incest means nothing. Other than what you pay on taxes."

" Up the issue. Puget bad debt 315000. And last spring he had a market now it's done by a realtor. And there -- tellers you could probably not heard. --"

" Okay so I issue looking to sell it or not. That well then the then I'm back to what I said the assessment doesn't mean anything assessments what town. Uses to to have to decide how mr. taxes are gonna pay for a human -- on it but if she's looking to sell it and it it it becomes -- a nonissue. Other than for the new buyer but the new buyer for a and ultimately when she sells the new buyer will be able use the -- base they -- war. And that you probably price lessons assess that to appeal and and try and get a lower and an assessment once they by the proper."

" I can't -- she doesn't."

" Those -- get that keeping it."

" Then a lot of you you you only have a thirty day window to appeal so. And she's gone -- go on past that in that window but. The generally. I think it's the the attack when the tax bills sent sent of the beginning of the year you have. Like about a thirty a a thirty day window and I think it's the end of of February so if she doesn't sell what you gonna have to do is go to the attack and -- go to town hall. Wherever they wherever the property is and and his visit the document you get you fill it out and you file for an appeal. And what you gonna. What you can do is either pay for an appraisal all our. If she can get -- realtors to give give her comps which is mainly a properties that are sold recently. This visit you can appeal the appeal so to speak at that point you may wanna pay for an appraiser. But if she if she sells it. Becomes a non issue eight thank you very much for the call 6178221969. Is our number comments eccentric all if you Verizon Wireless phone user we have -- telephone -- say that for a car related question like futures related question college related question. Or an annuity related to question those of -- online stay there we'll get your questions and a bit but let me remind you again that you are listening the Sunday edition. Of the best finisher on radio on 969. Austin talks Boston cost."