Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[Big Blitz]

15 hours ago, Big Blitz said:

 

FYI - I fully expect it to come in *lower* and they'll claim it as some sort of win, for you, the little people.

 

Hahahahahahahahahahahahahaha told you

....this is all good news!!

 

Freaking Russia!!

 

 

 

Stocks open higher after inflation data feeds hopes price pressures are peaking

 

U.S. stocks opened higher Tuesday, finding support after a hotter-than-expected rise in the March consumer price index was read as a sign inflation pressures may be peaking, analysts said. The Dow Jones Industrial Average _ rose 114 points, or 0.3%, to 34,422, while the S&P 500 _ rose 27 points, or 0.6%, to 4,439. The Nasdaq Composite _ gained 142 points, or 1.1%, to13,554. The data showed the rate of inflation in the past year moved up to 8.5% in March from 7.9%. The last time inflation breached 8% was in January 1982. Analysts said a potential sign inflation might be peaking came from the smallest monthly increase in six months in the so-called core rate of inflation that strips out food and energy, which rose just 0.3% last month

 

 

https://on.mktw.net/3E9sno3

 

[leh-nerd skin-erd]

On 3/30/2022 at 1:38 PM, SoCal Deek said:

Everyone comes at this issue from a different angle, but I'll never buy into the concept that anyone's estate should magically revert back to the State upon their demise. For myself, I came from virtually nothing. The estate I've amassed was created from a ton of hard work and with the love and support of a dedicated family.  For every story like mine there are thousands who squandered/spent every dime they made along the way. (I have a few business partners who live just that way.) Some on here promote the idea that the government should come in and say "thanks for playing, we'll take over from here". Why? On who's authority? I gave the government their required share each step along the way. They're supposed to be providing services to me....not the other way around. What did they do with their annual cut?  Did they save and/or invest it...like I did?  Or, did they squander it, like so many do? I'll answer it for you: They squandered it! 

Our system finds it roots in Olde English Law.   We can watch a movie like Braveheart and not notice the similarities with today's America.  In the old days, it was Kings, Bishops and the like, today the Government is king and there are all sorts of emissaries out and about to enforce the rules of the kingdom.  

 

For some people, the freedom comes from taking a deep breath, stepping off the ledge and pursuing a better life in whatever fashion resonates with that person.  Education. Business. Service to the community.  Deadheading across the country.   For others, it comes from public entitlements, riding the coattails of financially successful people, or sitting and complaining about 'fair share' as if anything even remotely like that exists in the world.   Then of course, there's a whole lot of folks squarely in between the two.  

 

I'm with you on this point.  I believe that paying tax and contributing to the greater good is my obligation, but that this system more than occasionally runs amuck over folks trying to get ahead to the next level.   They take the approach that "What's yours is mine, what's mine go f yourself, it's mine.".  

[Big Blitz]

Huge increases in food:

 

 

 

Hourly wages down:

 

 

 

 

 

 

Let's go Brandon!!!

[Chef Jim]

2 hours ago, leh-nerd skin-erd said:

Amazing the thoughts that come from a guy with a career in the financial sector. 
 

The governmental scam-a-lam on a traditional IRA eludes many people.  Save pennies now, get taxed on the whole nut later. Better than a stick in the eye, but a pretty nice source of tax revenue for the government. 
 

I know a fellow who converted his traditional IRAs over a couple years about 10 years ago.  Tax bill was about $800k.  Best move he ever made, he said.  
 

Meanwhile, one leg of the Dems plan to incentivize investment in one’s future is to erase the debt incurred by said people in search of enlightenment who prefer to spend their money on other things.  
 

Brilliant.  

Conversions are a great tool. Now he has a pile of money he can live off of tax free but also use it for big ticket items like cars.  He should also be thanked by his heirs as they will likely inherit the leftover Roth money tax free.  
 

Be careful with big conversions close to 65 however.  The conversions hit your return as income and Medicare premiums are means tested and they look back 2 years and they can get real steep.  

[Big Blitz]

It's going to be Russia's fault for everything including the Magenta Wave in November 

 

 

 

 

 

The good news is Hollywood has their go-to villains again.  

 

 

 

 

 

Sobering

 

 

 

All self inflicted by the Democrat Party 

Edited April 12, 2022 by Big Blitz

[Chef Jim]

2 hours ago, B-Man said:

 

 

As Prices Rise Americans Turning to Their Credit Cards.

 

'Consumer debt rose at the fastest pace in 20 years in February.”

 

 

https://schiffgold.com/key-gold-news/as-prices-rise-americans-turning-to-their-credit-cards/

 

 

 

I brought this likely scenario a bit ago. 

[Chef Jim]

2 hours ago, leh-nerd skin-erd said:

Amazing the thoughts that come from a guy with a career in the financial sector. 
 

The governmental scam-a-lam on a traditional IRA eludes many people.  Save pennies now, get taxed on the whole nut later. Better than a stick in the eye, but a pretty nice source of tax revenue for the government. 
 

I know a fellow who converted his traditional IRAs over a couple years about 10 years ago.  Tax bill was about $800k.  Best move he ever made, he said.  
 

Meanwhile, one leg of the Dems plan to incentivize investment in one’s future is to erase the debt incurred by said people in search of enlightenment who prefer to spend their money on other things.  
 

Brilliant.  

Back to conversions.  If the government was smart (I know I know) they’d incentivize conversions.  Conversions fill the government coffers now instead of bit by bit as people spend down their IRAs over potentially several decades.  An incentive my be a flat tax on conversions and not have it be part of the Medicare premium means test.
 

 The big incentive many use is if you think your taxes are going up it makes sense to convert now at the lower rate.  But we don’t know where tax rates will be next year let alone 20, 30 or more years down the road.  So that could backfire.  

[leh-nerd skin-erd]

4 minutes ago, Chef Jim said:

Back to conversions.  If the government was smart (I know I know) they’d incentivize conversions.  Conversions fill the government coffers now instead of bit by bit as people spend down their IRAs over potentially several decades.  An incentive my be a flat tax on conversions and not have it be part of the Medicare premium means test.
 

 The big incentive many use is if you think your taxes are going up it makes sense to convert now at the lower rate.  But we don’t know where tax rates will be next year let alone 20, 30 or more years down the road.  So that could backfire.  

Makes sense to me.  I'm 60, with plans to convert when I can, in whole or in part.  I'll take the Medicare suggestion under advisement, but if I'm rolling the bones, I'm figuring tax free to my family with a legacy goal for my heirs is the best bet.  

 

Then again, silly me, I figured helping my children achieve their higher education goals was an investment in their future.  Who knew? 

[Chef Jim]

2 minutes ago, leh-nerd skin-erd said:

Makes sense to me.  I'm 60, with plans to convert when I can, in whole or in part.  I'll take the Medicare suggestion under advisement, but if I'm rolling the bones, I'm figuring tax free to my family with a legacy goal for my heirs is the best bet.  

 

Then again, silly me, I figured helping my children achieve their higher education goals was an investment in their future.  Who knew? 

Just like they say regarding your oxygen mask on a plane.  Put yours on first then save the ***** rug rats……I mean children last. 
 

BTW one of the best tax free legacy plays is life insurance. 
 

***the above posts were for entertainment purposes only and not meant as any recommendations.  See your advisor and tax preparer before doing anything stupid***

[leh-nerd skin-erd]

44 minutes ago, Chef Jim said:

Just like they say regarding your oxygen mask on a plane.  Put yours on first then save the ***** rug rats……I mean children last. 
 

BTW one of the best tax free legacy plays is life insurance. 
 

***the above posts were for entertainment purposes only and not meant as any recommendations.  See your advisor and tax preparer before doing anything stupid***

We were fortunate enough to plan for both--and have cv life insurance for that purpose.  One can never be sure what the tax situation w/r to inheritance will be at the time of one's demise.   In this vein, I actually just got off the phone with my attorney to schedule a revisitation of our will.  

 

I do agree that many folks focus on the children first, then figure they'll figure themselves out later.  Lost time generally,  divorce, job loss,  lost time in the market, disability/premature death and 15 other things can end up scuttling your plans.  A neighbor of mine many years ago mortgaged the house to pay for his daughter's education at Colgate...then sold the house and moved to Az when he got sick and things got tight. If I recall, he was moving in with the Colgatian.  That's cool, huh? 

 

Of course, Einstein famously said that "The most powerful force in the universe is a benevolent government absolving you of debt foolishly incurred.". 

 

Thanks for the disclaimer.  🙉

Edited April 12, 2022 by leh-nerd skin-erd

[Chef Jim]

27 minutes ago, leh-nerd skin-erd said:

We were fortunate enough to plan for both--and have cv life insurance for that purpose.  One can never be sure what the tax situation w/r to inheritance will be at the time of one's demise.   In this vein, I actually just got off the phone with my attorney to schedule a revisitation of our will.  

 

I do agree that many folks focus on the children first, then figure they'll figure themselves out later.  Lost time generally,  divorce, job loss,  lost time in the market, disability/premature death and 15 other things can end up scuttling your plans.  A neighbor of mine many years ago mortgaged the house to pay for his daughter's education at Colgate...then sold the house and moved to Az when he got sick and things got tight. If I recall, he was moving in with the Colgatian.  That's cool, huh? 

 

Of course, Einstein famously said that "The most powerful force in the universe is a benevolent government absolving you of debt foolishly incurred.". 

 

Thanks for the disclaimer.  🙉

The American way is to a) I’ll worry about it when I get there and b) Social Security will take care of me.  Sure if your idea of a nice retirement is watching Jerry Springer shows.  
 

Retirement should be a time of freedom.  Few worries of being a financial burden to your family including your spouse. Time to do all the things you didn’t have time to do when you were working and the money to do so. 

 

Glad you’ve done some very important planning.  Now back to my first retirement adventure. 😎 🏖 

[Tenhigh]

On 3/31/2022 at 8:50 PM, aristocrat said:

 

That is called "The Lionel Hutz".  NO! MONEY DOWN!

[SoCal Deek]

1 hour ago, Chef Jim said:

The American way is to a) I’ll worry about it when I get there and b) Social Security will take care of me.  Sure if your idea of a nice retirement is watching Jerry Springer shows.  
 

Retirement should be a time of freedom.  Few worries of being a financial burden to your family including your spouse. Time to do all the things you didn’t have time to do when you were working and the money to do so. 

 

Glad you’ve done some very important planning.  Now back to my first retirement adventure. 😎 🏖 

Chef…that’s a pretty recent interpretation of retirement. Not very long ago social security was conceived as something to get you through the few years you might have after the paychecks stopped coming in. The baby boomer generation turned retirement into a much more extravagant experience. 

[Big Blitz]

Omg.....hahahahahahahahahahahahahahahahahahahahahahaha

 

 

 

 

 

Hahahahahahahahahahahahahaha 

 

Putin’s price hike....omg their voters are being told they're morons.  

[Chef Jim]

50 minutes ago, SoCal Deek said:

Chef…that’s a pretty recent interpretation of retirement. Not very long ago social security was conceived as something to get you through the few years you might have after the paychecks stopped coming in. The baby boomer generation turned retirement into a much more extravagant experience. 

Yes but still a majority of boomers have very little in their retirement plans are are relying on SS.  

[SoCal Deek]

3 hours ago, Chef Jim said:

Yes but still a majority of boomers have very little in their retirement plans are are relying on SS.  

Exactly my point. Many are going to be super disappointed. 

[Chef Jim]

8 minutes ago, SoCal Deek said:

Exactly my point. Many are going to be super disappointed. 

 
Not the ones working with me. 😂

[Chef Jim]

Well finally Biden does something to help with gas prices.  He will allow ethanol blended gas so be used throughout the summer.  This is great news!!  
 

What?  There are 150,000 gas stations in the US and only 2,300 use the ethanol blend?   
 

 

[B-Man]

Thanks Joe.

 

WaPo: Inflation about to kill off the great real-estate boom

 

https://hotair.com/ed-morrissey/2022/04/15/wapo-inflation-about-to-kill-off-the-great-real-estate-boom-n462641

[B-Man]

 

 

 

PRIORITIES: 

 

Biden’s Economic Report Mentions ‘Gender’ 40 More Times Than ‘Inflation.’

 

https://www.tampafp.com/bidens-economic-report-mentions-gender-40-more-times-than-inflation/