WarrenJ Posted December 4, 2009 Report Share Posted December 4, 2009 "As soon as next year – should the government move up the expiration of the Bush tax cuts, as I very much expect them to – the top tax bracket will go to 39%. On top of that, the current healthcare legislation will add a 5.4% surcharge. Then, add in the Democrats' proposed 5% war tax. Okay, so straight up we're talking 49%. Then there's a near doubling of capital gains taxes, from 15% to as high as 28%. And, of course, the return of the estate tax. Of course, that's just for starters, because everywhere you look states and municipalities are raising taxes and fees, and attorney generals, taking a page out of Caligula's playbook, are casting about for their next deep-pocketed victim. At the end of the day, the top tax rate in the U.S., starting as early as next year, will soar way over 50% of income. While further number crunching is required, it is a very safe assumption that top income earners will soon be paying over 65% of their income in taxes." CRIPES!!! How much do they think we have? How much taxation do they think it will take to bring economic activity to a halt? http://www.thedailycrux.com/content/3461/Taxes There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted December 4, 2009 Author Report Share Posted December 4, 2009 Jimmy Carter, I expect, is likely cheering quietly from the sidelines. OBAMA! will surely remove from Carter the stigma of having been the worst president in modern economic history. There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Texas Jim Posted December 6, 2009 Report Share Posted December 6, 2009 Jimmy Carter, I expect, is likely cheering quietly from the sidelines. OBAMA! will surely remove from Carter the stigma of having been the worst president in modern economic history. Thats a statement I can agree with. Link to comment Share on other sites More sharing options...
OynxSTS Posted December 6, 2009 Report Share Posted December 6, 2009 Jimmy Carter, I expect, is likely cheering quietly from the sidelines. OBAMA! will surely remove from Carter the stigma of having been the worst president in modern economic history. Carter, has been cheering since the spring of 2008... Bush beat Obama to it almost 2 years ago. Easin' down the highway in a new Cadillac, I had a fine fox in front, I had three more in the back ZZTOP, I'm Bad I'm Nationwide Greg Link to comment Share on other sites More sharing options...
WarrenJ Posted December 6, 2009 Author Report Share Posted December 6, 2009 Jimmy Carter, I expect, is likely cheering quietly from the sidelines. OBAMA! will surely remove from Carter the stigma of having been the worst president in modern economic history. Carter, has been cheering since the spring of 2008... Bush beat Obama to it almost 2 years ago. Very true, but OBAMA! ate Bush's lunch. And his children's lunch. And their children's . . . Ultimately it's the fault of government, though others share blame. The collusion between the Fed and Wall Street, for example, is simply stunning! Wait until you find out about the tonnes of counterfeit gold bars held in bank vaults around the world. I'm guessing this may partly explain the Fed fighting tooth and nail to avoid a decades overdue audit. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
OynxSTS Posted December 6, 2009 Report Share Posted December 6, 2009 Jimmy Carter, I expect, is likely cheering quietly from the sidelines. OBAMA! will surely remove from Carter the stigma of having been the worst president in modern economic history. Carter, has been cheering since the spring of 2008... Bush beat Obama to it almost 2 years ago. Very true, but OBAMA! ate Bush's lunch. And his children's lunch. And their children's . . . Regards, Warren At least we are in agreement that W was the worst President in modern economic history . The jury is still out on Obama, right now most indicators are pointing to recovery, the market is doing well and is up over 30% since Obama was sworn in. My broker and I are very happy with your Prez. As well we have employment numbers in November that are showing job growth (for the first time in something like 22 months) Economy getting less bad Easin' down the highway in a new Cadillac, I had a fine fox in front, I had three more in the back ZZTOP, I'm Bad I'm Nationwide Greg Link to comment Share on other sites More sharing options...
WarrenJ Posted December 7, 2009 Author Report Share Posted December 7, 2009 Jimmy Carter, I expect, is likely cheering quietly from the sidelines. OBAMA! will surely remove from Carter the stigma of having been the worst president in modern economic history. Carter, has been cheering since the spring of 2008... Bush beat Obama to it almost 2 years ago. Very true, but OBAMA! ate Bush's lunch. And his children's lunch. And their children's . . . Regards, Warren At least we are in agreement that W was the worst President in modern economic history . Uh . . . NO! Prior to Bush that honor still belonged to Crater (Opps, Carter). No double digit inflation ensued after W's insanely extravagant economic policies. I can't give him credit for that, however. He just got flucky. The current administration is of a different mind; it simply doesn't care; "darn the economic torpedoes, full speed ahead." The U.S. dollar has lost 15% of its purchasing power in only 9 months. Inflation is at 3%. Bank interest rates are at about 0%. If a U.S. ciitizen saves money in a bank, s/he is losing close to 20% per year. Damned if I'll put up with that nonsense. I'm investing so as to defend myself. So should you. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
OynxSTS Posted December 7, 2009 Report Share Posted December 7, 2009 Uh . . . NO! Prior to Bush that honor still belonged to Crater (Opps, Carter). I agree "prior to Bush" there were no worse then Carter. But Bush passes Carter by a ton, the only measures that Bush did ok on was inflation and interest rates. Everything else, personal wealth, unemployment, government control of industry/ take overs/ bailout/ Socialization, corporate bankruptcies, personal bankruptcies, Dow Jones index. Foreign debt, balance of trade, US$ strength, You name it. Every other measure of economic stability and strength are a huge crater. No double digit inflation ensued after W's insanely extravagant economic policies. I can't give him credit for that, however. He just got flucky. The current administration is of a different mind; it simply doesn't care; "darn the economic torpedoes, full speed ahead." The U.S. dollar has lost 15% of its purchasing power in only 9 months. Inflation is at 3%. Bank interest rates are at about 0%. If a U.S. ciitizen saves money in a bank, s/he is losing close to 20% per year. Damned if I'll put up with that nonsense. I'm investing so as to defend myself. So should you. Regards, Warren Oh I am investing to protect myself and I have had a GREAT year so far. As I said my portfolio us up over 30% since January. I'm having a VERY good year. BTW under Bush policies the US dollar lost almost 40% of its value... Where were your posts of concern in 2003/4/5? Link to Dollar index during the Bush years Easin' down the highway in a new Cadillac, I had a fine fox in front, I had three more in the back ZZTOP, I'm Bad I'm Nationwide Greg Link to comment Share on other sites More sharing options...
WarrenJ Posted December 7, 2009 Author Report Share Posted December 7, 2009 Uh . . . NO! Prior to Bush that honor still belonged to Crater (Opps, Carter). I agree "prior to Bush" there were no worse then Carter. But Bush passes Carter by a ton, the only measures that Bush did ok on was inflation and interest rates. Everything else, personal wealth, unemployment, government control of industry/ take overs/ bailout/ Socialization, corporate bankruptcies, personal bankruptcies, Dow Jones index. Foreign debt, balance of trade, US$ strength, You name it. Every other measure of economic stability and strength are a huge crater. No double digit inflation ensued after W's insanely extravagant economic policies. I can't give him credit for that, however. He just got flucky. The current administration is of a different mind; it simply doesn't care; "darn the economic torpedoes, full speed ahead." The U.S. dollar has lost 15% of its purchasing power in only 9 months. Inflation is at 3%. Bank interest rates are at about 0%. If a U.S. ciitizen saves money in a bank, s/he is losing close to 20% per year. Damned if I'll put up with that nonsense. I'm investing so as to defend myself. So should you. Regards, Warren Oh I am investing to protect myself and I have had a GREAT year so far. As I said my portfolio us up over 30% since January. I'm having a VERY good year. I'm at an all-time high of 26 stocks right now in terms of the number of stocks I currently own. That's probably too much. However, I have a reason for each. I don't "love" each, but I have reasons to be fond of them. Around the end of June I sold most of the 20 stocks I owned (keeping four). I was about 20% ahead at the time. I then began buying back beginning August 1st. I'm now about 17% ahead with 26 stocks. I don't know what my annualized percentage is, but I'm sure it's nothing to be ashamed of. My brother and sister have not done so well with their investments. Neither is willing/able to manage their own investments; they rely on a large brokerage house. You seem pleased with your broker. If you have a recommendation, would you care to PM me? There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted December 7, 2009 Author Report Share Posted December 7, 2009 Link to Dollar index during the Bush years Lemme know when it crosses the MA. There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
OynxSTS Posted December 7, 2009 Report Share Posted December 7, 2009 My broker put me into this about a year ago. Recovery Fund I'm up about 50% on this one since fall of 2008... Probably to late to buy this one now... I was thinking that its time to sell this one... Of course I wouldn't buy something like this if you don't think that a recovery isn't actually happening... If you think the economy is about to get worse, or completely collapse you might want to buy gold mine stocks or gold certificates. It is almost never good idea to hold actual bullion since you get KILLED with commission fees when you buy and even more when you sell. Remember "greed" is your biggest adversary to making money. Easin' down the highway in a new Cadillac, I had a fine fox in front, I had three more in the back ZZTOP, I'm Bad I'm Nationwide Greg Link to comment Share on other sites More sharing options...
WarrenJ Posted December 7, 2009 Author Report Share Posted December 7, 2009 It is almost never good idea to hold actual bullion since you get KILLED with commission fees when you buy and even more when you sell. Remember "greed" is your biggest adversary to making money. You can avoid these assay commissions if you own gold in non-bullion form. Owning coins like Maple Leafs, Pandas, Krugerands, Eagles etc. that are recognized the world over will allow you to sell them without difficulty or assay. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
OynxSTS Posted December 7, 2009 Report Share Posted December 7, 2009 It is almost never good idea to hold actual bullion since you get KILLED with commission fees when you buy and even more when you sell. Remember "greed" is your biggest adversary to making money. You can avoid these assay commissions if you own gold in non-bullion form. Owning coins like Maple Leafs, Pandas, Krugerands, Eagles etc. that are recognized the world over will allow you to sell them without difficulty or assay. Regards, Warren There are four main drawbacks to buying and selling gold coins. The first is the acquisition cost. Gold dealers will not sell you gold coins at the gold spot price. Instead, the Mint charges a premium to cover its overhead to make the coil and profit and the dealer that you purchase from charges a premium to cover its overhead and profit. If you are buying online or through the mail, there will also be transportation fees. In addition to the acquisition costs, buying gold coins includes a storage cost, insurance cost and sale transaction fee often in the form of a sale price below the current gold spot price when you go to sell the gold coins. Commissions on Gold coins start at about 12% to buy and at least that again to sell them... and often you will find that many dealers will not buy them back onesie twosie. Many dealers will only accept minimum "sell" orders of 5 or more ounces. You can expect a 20-25% net commission on holding gold coins... people that tell you otherwise may have other agendas. If you like gold buy gold certificates or shares in known (large cap) gold producing mines... You get the same investment, at commission rates in the fractions of a percent (or even a fixed fee, like I have at my broker). Gold coins are cool and fun to have (I have a few) but know that you are getting eaten alive with commissions. There are way better and less expensive ways to do the same thing. For most investors, gold certificates are a lot more convenient. You can buy these investments at most banks and brokers; they are simply pieces of paper that give you guaranteed title to gold stored by the broker or the bank. They are 100% guaranteed, so if the bank/broker goes broke you will get your gold. The down side is that most certificates require a minimum investment of 10 ounces. But again these have a commission rate that are less then 1/10 of the coins. You are now buying the gold "direct" and eliminating the "middle man" If you really want to ride the ups and downs of gold prices, you may want to consider buying shares in a gold-mining company rather than gold itself. If conditions are right, a well-chosen mining stock can perform significantly better than the underlying commodity. And can be traded at fixed commission rates. The reason gold mine will out perform gold coins is leverage. Most of a miner's costs are fixed — it costs the same to mine gold when it's trading at $500 an ounce as it does to mine gold when it's trading at $1500 an ounce. So any increase in the price of gold above what it costs to take it out of the ground is pure profit. The basic rule of thumb is that, in an appreciating gold market, gold stocks will rise three times as fast as the price of gold. But as I said above, pick a firm with a KNOWN mine with KNOWN gold production rates. Buying speculative mining stocks is not investing, that is just gambling. Consider companies like Barrick Gold Corp (I have owned this one in the past and did pretty good with it... It is up 100% from this time last year ) Goldcorp Inc and others. I would not consider a gold mining company with a market cap of less then 3 Billion. Hope this helps, Good Luck... Buy Low and Sell HIGH! Easin' down the highway in a new Cadillac, I had a fine fox in front, I had three more in the back ZZTOP, I'm Bad I'm Nationwide Greg Link to comment Share on other sites More sharing options...
WarrenJ Posted December 7, 2009 Author Report Share Posted December 7, 2009 The gold mining stocks continue to treat me well. SLW and SVM are making new records. As Perry White might have said, "Great Scott!" Or something. Get some NAK! Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted December 8, 2009 Author Report Share Posted December 8, 2009 Good Luck... Buy Low and Sell HIGH! Generally, I prefer buy high and sell HIGHER. I like the quality stuff. I'm happy to find an undervalued stock (and I look for them), but a quality stock that has been senselessly beaten down is the one I want to go to the prom with. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
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