...and thankfully I purchased a lot more shares of equities right before and during the market's recent big gains although yesterday and today the market trimmed back some of those gains.
I'm well ahead though, and I am therefore still comfortable to stay in the market and be vulnerable to this volatility, provided there are enough "up" days. If the trend starts to look very negative, I'll bail out... but I think there is enough upside potential to stay in, and recently it's been paying off to be "IN" the market.
That said, in this crazy world, :confuse: something could happen tomorrow that could change everything.
Yes, the unemployment numbers are definitely a thorn in this market. I suppose, the market will still be seeing lots of volatility, but I think the trend will be slowly upward the next several months. I have been doing very well with the AAPL stock. I have been buying and selling a portion of it numerous times the past few weeks and it has been working (buying on dips and selling on good rallies). I am just holding firm with my other stocks the past several weeks.
What do you think? Do you see us back to at least 11,000 on the Dow by September?
I believe it is quite realistic to consider that the economic recovery may have stalled. Housing problems and unemployment continue to be serious issues and they aren't going to fix themselves overnight... and with the upcoming TAX INCREASES only months away, I think it is entirely possible that we may see the market stuck in a trading range for a considerable time.
And... I also believe that any major negative news could send the market into a tailspin.
I have scaled back significantly on my equity positions today. I will be keeping just a handful of stocks that I like, such as Apple, Vodaphone, Citigroup (can't resist), American Tower, and a couple of others. The rest are gone, and I am going to look into purchasing more fixed securities in the near future.
Haven't heard much from most of you lately... so I hope you are all doing well, and enjoying summer.
I am in the process of buying a 1st deed of trust on a home for my daughter and son-in-law. It is a win win for all of us. They will have a payment less than rent on a brand new home in Evansville Indiana. I will be making 5% on $125k that was sitting at Chase making 1/2%. I have enough in bonds to not want to overload. And our Putnam Bond fund is yielding close to 13% right now. Don't want to put anymore in stocks. The 1st deed will not do anything except generate a few dollars a month for us. I think this is a good time there to buy a home. They would need a big down payment to get a decent rate of interest. I don't believe in loaning for down payments. Too risky. What are families for if not to help each other out?
I posted yesterday that I sold almost all my stocks (yet again) . I once again want to warn all of you. I did not sell on a whim. Be aware that there is a significant risk to equities now.
Another great call !! When I read your post last evening, I thought to myself---Oh O--Get ready.
LOL... Thank you Tony!
I sure hope Charlie takes a good look at his level of risk. I don't want him to get burned by this market. But he's a smart man... He brilliantly got out before the 2008 meltdown.
Charlie did well, and had good reason todo what he did---I just wish I had had his foresight, although I did act before too long ......
As for the `farm` nothing is ever finished down there....just endless....but I enjoy being outdoors and being needed......I find that in this day and time no one really does anything for themselves, but hires most stuff out...In my case what I have been doing , only an owner will do...lol....Tony
I know that Houdini was only kidding about getting more advance notice... and I'd like to supply him with a calendar of all the up and down days for the rest of the year.
Actually, my post is on record two days ago that I thought the economic recovery may have stalled, and I also warned that it wouldn't take much to send the market into a tailspin.
And, as you know, yesterday I sold most of my stocks and I posted it here for everyone to know. I also mentioned that I didn't do it on a whim. I wouldn't sell so many shares of so many stocks unless I felt very strongly that it was the right "timing".
The bottom line here is that our economy (while better than it was during the crisis) is still very sick and needs to improve. In addition, there is the global situation which needs to stabilize. If / when those things finally happen, we will have a great rally... but until then, it is a dangerous market.
As far as what I will do next... I will buy stocks again when I see an opportunity to make some profits. But quite frankly, I am getting sick of having to get in and out of the market so many times. But, that said, I'm not about to get in and "let it ride" when all that does is lose money. Being in this market requires the willingness and ability to get back out as the market itself dictates. Otherwise, it is a losing proposition, and that begs the question, "Why even bother?"
I'll challenge that...with a counter-intuitive tone, of course!
I'd submit there is significant risk in bonds...but that's just me.
Watch what happens next week.
OW... Frankly, I don't know what you are challenging. :confuse:
For one thing... I never posted anything significant about the risk to bonds, which certainly exists at various times... but the risk to stocks, not bonds, has been quite evident most recently. And, certainly I wouldn't expect you to challenge my "timing" once again, now that there is enough emperical evidence.
Further, I just posted that my next move was to buy stocks, yet again, just as soon as I see a potential for profits... which could be at any time... as I have shown repeatedly.
So... I really don't understand your post at all... what is your point?
I posted yesterday that I sold almost all my stocks (yet again) . I once again want to warn all of you. I did not sell on a whim. Be aware that there is a significant risk to equities now.
I should have been more specific. Sorry about that. It's just that now would be the time a contrarian would make his buys.
Your timing has always been excellent. Just presenting a 180 degree view.
It's just that now would be the time a contrarian would make his buys.
Could be.
What do you think? Do you think that today's action was just a dip? A one-day event?
Personally, I'm not so sure. I tend to think that there could be a growing number of investors that are still going to bail out, and as a result we could see the market go lower.
But, my concerns aside, what actually happens is what matters most... and if there is genuine evidence that the market is about to (or begins to) go higher, I'll consider buying once again.
The market presents itself to us. We may not like what we see, but it's still up to us to decide if or how we want to take advantage of it's condition.
I think we'll ease back up over 10,000 for the DOW and continue to go sideways for a while longer. If we don't get back up to that 10k "floor" in a few days, I'm be less optimistic overall.
I'm on a working holiday hanging out near Taos for a couple of weeks. Traffic is heavy in town, and there are few empty storefronts in the tourist area. There are some sale signs in some of the shops. And a few bums. But it doesn't seem too gloomy all in all.
I don't know how the stimulus money is holding up, but there sure was a lot of road construction between here and Boise on the drive down.
I know that Houdini was only kidding about getting more advance notice... and I'd like to supply him with a calendar of all the up and down days for the rest of the year.
I am glad you recognized my post as being tongue in cheek. You remind me of a guy I have been playing golf with for about 10 years. About 2 years ago he started making almost every putt he looked at. I kept thinking his lucky streak would end soon but it has been 2 years now and he just keeps getting better. It did not take me long to realize that it was not luck, this guy knows what he is doing.
I think the limiting factor with the market right now is jobs, or lack thereof, and I expect more bad news later this week. Please keep sharing your insights.
I am glad you recognized my post as being tongue in cheek.
Definitely... I kind of wish you and I had understood each other a little better in the earlier days when we posted in the "other" forum... I chalk that up as a lesson learned.
I think the limiting factor with the market right now is jobs, or lack thereof, and I expect more bad news later this week.
I agree 100%... and would also mention that housing is another big obstacle.
That said, I want to post this potentially important point... Last night I was thinking about the market's relationship to the current state of affairs, and I starting seriously considering that the "norm" for unemployment is going to have to shift to the higher side, for a number of definitive reasons, and as a result of this upward shift, the market is going to ultimately acclimate to this new "norm".
In other words, I am starting to think that the market's reaction to higher unemployment will likely be less dramatic and less negative over time... which, if I am correct on this, would ultimately be better for stocks in the future.
I personally think the energy sector , and the price of energy is an important factor....When the British oil company stops the leek, I think the mood across the entire country will change, and along with it the market.....There is talk that may happen quicker than anticipated, and as far as I am concerned it could not happen quick enough....
Tagman you sure have hit the nail on the head a number of times, so imo you have a fine grasp of the day to day market.....and that probably will carry over into the longer term when that presents itself Congratulation Tony
Hello guys! Sorry I have not been around the past week to 10 days. For the first time since February 2009 yesterday, I started to have major worries about the stock market and the economy. Every day for the past few months we have been getting bombarded by talk of a "double dip" in the market. It is starting to get me depressed. I almost pulled the trigger and sold everything yesterday, but held off to see if cooler heads would prevail today. Additionally, when the heard mentality says there will be a "double dip", it will very likely NOT happen. Today, the market tried to hold its own but ultimately failed late. Did I get out? No! Instead I bought a little more AAPL since I took profits at 2.72.
Here is the way I see things. Yes, the unemployment figures and housing industry absolutely stink. However, I cannot envision this in the same way as I did back in the summer of 2008 when I was telling everybody to get the hell out of the stock market immediately if not sooner. I do not see huge institutions like Bear Stearns, Merril Lynch, etc. etc., failing in 2010 as they did in 2008. I am still of the opinion that the U.S. economy will hold its own with modest upswings in the next couple years. And, as Tony has often stated in recent weeks, things will look better once that disastrous oil spill is STOPPED. Therefore, I am holding my stocks as I think I will ultimately be OK again in the next 6 months or so. Did I expect this sizable dip to take place from where the market was about 10-15 days ago. NO! But I just do not feel comfortable dumping everything right now. Unless one is like TagMan and he can get in and out on a dime, it is a very difficult thing to do . If I sell everything right now, I will not know when to get back in again. The other thing is that I have not been betting the farm at all. If the stock market goes to zero, I will still be OK. But who knows? I might change my thinking on all this tomorrow .
I'm thinking this is the perfect time to buy actually. The eye of the storm was in Q1- 2 and now that it's past, darkness strikes pure terror into the hearts of the unconditioned trader!
I'll probably be wrong and best bet is to follow TM.
I'm thinking this is the perfect time to buy actually.
OW, I always like your posts.
There is little doubt that the market will EVENTUALLY go higher, so it is reasonable enough to buy stocks when they are lower than they were in the past. That is an easy enough move, so go ahead and buy.
But, you say that you are thinking this is the PERFECT time... This? Right now? Sorry, but I disagree with you on that one.
In my opinion, the "perfect" time to buy is when everyone that is going to throw in the towel has thrown in the towel. That's the perfect time... and quite frankly, I'm just not convinced that has happened quite yet.
I want to make it clear that I do not know when I will get back in the market simply because I haven't seen enough reasons to do so, yet. They could present themselves at any time... any week, any day, any second. And, it doesn't require the 'perfect" time to get back in... perhaps a very good time is good enough.
I am going to accumulate Citigroup stock in a big way at every significant dip. I started this today.
I will be operating in the six digit arena, as I feel strongly that this stock will return at least a 50% return within two to five years or sooner, and might even double or triple.
I do not see any real estate investment or fixed securities investment or any other stock at this point that I feel so strongly about.
Those of you that still own Citi... just be patient... I am still convinced you will be rewarded in the future.
I realize that this is a speculative move, but I am willing to take the risk.
Looking at the rest of the market, I also believe that Ford will prove to be a good investment, and I will probably buy some Ford .
............edit: I have purchased shares of Ford... looking longer term here.
I am less optimistic about Apple than I was previously, and I no longer own the stock, although I am definitely not recommending selling (or buying) Apple.
The market is still very dangerous, and I recommend extreme caution. Any purchases should be with sights set for longer term gains. Can you believe I just said that?
I`m still holding the big C....The government position (selling) is the big bug a boo....five billion shares is a mighty spoonfull--so expect headwinds ----above four dollars.....The next quarter report could give us a boost.....Tony ps the broker I told you about is just as positive on C as you are....He also likes BP bonds, but I told him none for me period....Tony
Hi Tag! For the record, I am still holding on to everything I had the past few weeks. But again, if the market goes to zero, I will not go bankrupt by any means. I am not betting the farm and never have the past year or so.
Well, I LOVE your posts! Here's a prediction everyone is sure to agree with: The Future and Investing
Because the world is so unstable and cycles from boom to bust can devastate one’s savings, it is often best to invest in life itself. People need to build up treasures that the economy cannot touch such as relationships, the joy of giving, and becoming a better person. Being rich or poor is simply a state of mind.
Which gold, oil, and economic stock market forecasts and predictions for 2010 will come true? Hopefully only the good ones.
TM, you are the keenest at making high quality predictions...I might check you now and then! Just to keep you sharp!
I agree with you on Citi, I already own a bunch at higher prices but this is too good not to buy. I am going to buy 10,000 shares tomorrow, even with future Government sales, this price point is very attractive. Citi has been fixing their underlying businesses over the past 18 months, things will be good soon, their businesses have major upside.
I agree with you on Citi, I already own a bunch at higher prices but this is too good not to buy. I am going to buy 10,000 shares tomorrow, even with future Government sales, this price point is very attractive. Citi has been fixing their underlying businesses over the past 18 months, things will be good soon, their businesses have major upside.
Jobs report is mixed and futures are up slightly. Dow has been down six sessions. Holiday weekend will make whatever happens today less significant as trading volume will be light. Next week, possibly Tuesday will give us a more realistic view.
Six Months to Go Until The Largest Tax Hikes in History From Ryan Ellis on Thursday, July 1, 2010 4:15 PM
In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:
Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:
- The 10% bracket rises to an expanded 15% - The 25% bracket rises to 28% - The 28% bracket rises to 31% - The 33% bracket rises to 36% - The 35% bracket rises to 39.6%
I warned about this terrible tax increase recently, and I must tell you that I am outraged by it.
The idiots in the White House and Congress keep saying that they don't know what other ways they can stimulate the economy. What's sad and tragic here is that they truly DON'T know. They are actually stupid enough to raise taxes at a point in time when the economy is holding on by a thread.
One of the smartest things they could do would be to significantly CUT taxes at this point in time.
Our government is broken, AFAIC, and Obama is proving over time to be a terrible president. Add this to his slow reaction to the Gulf disaster. And, just to be clear, I am not saying Bush was any good either... as he was also an idiot.
Don't get me going on our tax policy. It infuriates me. It is beyond belief... idiotic and stupid.
You are right about this knocking a fragile economy for a very big loop. I have two personal friends that are shutting down their business here in San Diego, while they still have some cash left and moving out of state. They don't think it will be profitable to start up anywhere else with this political climate. If in my small circle of friends there are two. How many thousands around the USA are feeling the same way?
What is interesting to me is the parallel to the late 1970s. The big difference was interest rates were out of sight. So people were selling their businesses and dumping the money into money market and treasury bills. Making a lot more than was possible running most businesses.
When he's voted out in 2012, the broken policies will be repealed...so it will all work out, right? I hate to say it, probably not...as it matters not who receives your vote.
If only these bastards could cut spending and reign in the greedy public sector union system, tax cuts could be reality.
I see the Euro and Pound have been sharply gaining against the dollar, for no specific reason...more plotting?
United States of America... A population over 300 million people, overrun by illegal aliens, and governed by a small handful of total idiots and liars making a lot of greedy and idiotic decisions that do not adequately benefit the millions of good people, but instead all-too-often benefit special interest groups.
That is no democracy. That is something else.
The terrorists are wasting their time... The government of the United States of America is already broken... with access granted to the highest bidders and the most influential con men... all of whom are traitors to the original spirit and intent of America.
May she rest in peace, for I loved her so much.
This Fourth of July, let's remember and celebrate the incredible dream called the United States of America.
Great post, I could not agree more, except....I am thinking She will rise from the ashes like the Phoenix...and commence to kicking butt again. We all just have to do whatever we can to help make it happen. Let's start by throwing a lot of these bums on the trash heap in November.
1. Some form of term limits.
2. Campaign contributions from individuals ONLY.
3. If a politician is caught taking a bribe or committing any felony a mandatory 10 year prison sentence. In my mind lying through their teeth is a felony.
Three good ideas---particularly term limits---- Things certainly are dismal, and Barton Biggs, who is a savvy fellow, is now cautious....This doesn`t bode well for us...Tony
Not really----The stuff I have exposed to any form of market is mostly bond oriented....My speculative C, is already down, and as far as I can see, usually when the big guys announce they are concerned, most of the decline is over ...
.The thing is that the economy-- as far as my eyes see --is perking along...When all the news media reports is negative stuff it can become self fulling , but not deservedly so.....The political arena is just monopolizing everything, so no one can get a word in edgewise....Talk about overexposed..Miserable...I guess the old saying about going away in May is right for this year....Tony
Comments
2013 LX 570 2016 LS 460
...and thankfully I purchased a lot more shares of equities right before and during the market's recent big gains
I'm well ahead though,
That said, in this crazy world, :confuse: something could happen tomorrow that could change everything.
TM
Yes, the unemployment numbers are definitely a thorn in this market. I suppose, the market will still be seeing lots of volatility, but I think the trend will be slowly upward the next several months. I have been doing very well with the AAPL stock. I have been buying and selling a portion of it numerous times the past few weeks and it has been working (buying on dips and selling on good rallies). I am just holding firm with my other stocks the past several weeks.
What do you think? Do you see us back to at least 11,000 on the Dow by September?
And... I also believe that any major negative news could send the market into a tailspin.
TM
Haven't heard much from most of you lately... so I hope you are all doing well, and enjoying summer.
TM
2013 LX 570 2016 LS 460
Excellent from all perspectives... especially the ones that matter most.
TM
TM
LOL... Thank you Tony!
I sure hope Charlie takes a good look at his level of risk. I don't want him to get burned by this market. But he's a smart man... He brilliantly got out before the 2008 meltdown.
How are things at the farm? Are you finished?
TM
As for the `farm` nothing is ever finished down there....just endless....but I enjoy being outdoors and being needed......I find that in this day and time no one really does anything for themselves, but hires most stuff out...In my case what I have been doing , only an owner will do...lol....Tony
2013 LX 570 2016 LS 460
I know that Houdini was only kidding about getting more advance notice... and I'd like to supply him with a calendar of all the up and down days for the rest of the year.
Actually, my post is on record two days ago that I thought the economic recovery may have stalled, and I also warned that it wouldn't take much to send the market into a tailspin.
And, as you know, yesterday I sold most of my stocks and I posted it here for everyone to know. I also mentioned that I didn't do it on a whim. I wouldn't sell so many shares of so many stocks unless I felt very strongly that it was the right "timing".
The bottom line here is that our economy (while better than it was during the crisis) is still very sick and needs to improve. In addition, there is the global situation which needs to stabilize. If / when those things finally happen, we will have a great rally... but until then, it is a dangerous market.
As far as what I will do next... I will buy stocks again when I see an opportunity to make some profits. But quite frankly, I am getting sick of having to get in and out of the market so many times. But, that said, I'm not about to get in and "let it ride" when all that does is lose money. Being in this market requires the willingness and ability to get back out as the market itself dictates. Otherwise, it is a losing proposition, and that begs the question, "Why even bother?"
TM
I'd submit there is significant risk in bonds...but that's just me.
Watch what happens next week.
Happy Independence Day!
Regards,
OW
I'd submit there is significant risk in bonds...but that's just me.
Watch what happens next week.
OW... Frankly, I don't know what you are challenging. :confuse:
For one thing... I never posted anything significant about the risk to bonds, which certainly exists at various times... but the risk to stocks, not bonds, has been quite evident most recently. And, certainly I wouldn't expect you to challenge my "timing" once again, now that there is enough emperical evidence.
Further, I just posted that my next move was to buy stocks, yet again, just as soon as I see a potential for profits... which could be at any time... as I have shown repeatedly.
So... I really don't understand your post at all... what is your point?
TM
I should have been more specific. Sorry about that. It's just that now would be the time a contrarian would make his buys.
Your timing has always been excellent. Just presenting a 180 degree view.
Regards,
OW
Could be.
What do you think? Do you think that today's action was just a dip? A one-day event?
Personally, I'm not so sure. I tend to think that there could be a growing number of investors that are still going to bail out, and as a result we could see the market go lower.
But, my concerns aside, what actually happens is what matters most... and if there is genuine evidence that the market is about to (or begins to) go higher, I'll consider buying once again.
The market presents itself to us. We may not like what we see, but it's still up to us to decide if or how we want to take advantage of it's condition.
TM
I'm on a working holiday hanging out near Taos for a couple of weeks. Traffic is heavy in town, and there are few empty storefronts in the tourist area. There are some sale signs in some of the shops. And a few bums. But it doesn't seem too gloomy all in all.
I don't know how the stimulus money is holding up, but there sure was a lot of road construction between here and Boise on the drive down.
I am glad you recognized my post as being tongue in cheek. You remind me of a guy I have been playing golf with for about 10 years. About 2 years ago he started making almost every putt he looked at. I kept thinking his lucky streak would end soon but it has been 2 years now and he just keeps getting better. It did not take me long to realize that it was not luck, this guy knows what he is doing.
I think the limiting factor with the market right now is jobs, or lack thereof, and I expect more bad news later this week. Please keep sharing your insights.
2013 LX 570 2016 LS 460
Please forward a copy to my email address in my profile. Thanks! :P
2014 Malibu 2LT, 2015 Cruze 2LT,
Definitely... I kind of wish you and I had understood each other a little better in the earlier days when we posted in the "other" forum... I chalk that up as a lesson learned.
I think the limiting factor with the market right now is jobs, or lack thereof, and I expect more bad news later this week.
I agree 100%... and would also mention that housing is another big obstacle.
That said, I want to post this potentially important point... Last night I was thinking about the market's relationship to the current state of affairs, and I starting seriously considering that the "norm" for unemployment is going to have to shift to the higher side, for a number of definitive reasons, and as a result of this upward shift, the market is going to ultimately acclimate to this new "norm".
In other words, I am starting to think that the market's reaction to higher unemployment will likely be less dramatic and less negative over time... which, if I am correct on this, would ultimately be better for stocks in the future.
TM
Tagman you sure have hit the nail on the head a number of times, so imo you have a fine grasp of the day to day market.....and that probably will carry over into the longer term when that presents itself Congratulation Tony
Agreed !
2013 LX 570 2016 LS 460
Here is the way I see things. Yes, the unemployment figures and housing industry absolutely stink. However, I cannot envision this in the same way as I did back in the summer of 2008 when I was telling everybody to get the hell out of the stock market immediately if not sooner. I do not see huge institutions like Bear Stearns, Merril Lynch, etc. etc., failing in 2010 as they did in 2008. I am still of the opinion that the U.S. economy will hold its own with modest upswings in the next couple years. And, as Tony has often stated in recent weeks, things will look better once that disastrous oil spill is STOPPED. Therefore, I am holding my stocks as I think I will ultimately be OK again in the next 6 months or so. Did I expect this sizable dip to take place from where the market was about 10-15 days ago. NO! But I just do not feel comfortable dumping everything right now. Unless one is like TagMan and he can get in and out on a dime, it is a very difficult thing to do
I'm thinking this is the perfect time to buy actually. The eye of the storm was in Q1- 2 and now that it's past, darkness strikes pure terror into the hearts of the unconditioned trader!
I'll probably be wrong and best bet is to follow TM.
We will see.
There is a lot to be said about the contrarian bug
OW, I always like your posts.
There is little doubt that the market will EVENTUALLY go higher, so it is reasonable enough to buy stocks when they are lower than they were in the past. That is an easy enough move, so go ahead and buy.
But, you say that you are thinking this is the PERFECT time... This? Right now? Sorry, but I disagree with you on that one.
In my opinion, the "perfect" time to buy is when everyone that is going to throw in the towel has thrown in the towel. That's the perfect time... and quite frankly, I'm just not convinced that has happened quite yet.
I want to make it clear that I do not know when I will get back in the market simply because I haven't seen enough reasons to do so, yet. They could present themselves at any time... any week, any day, any second. And, it doesn't require the 'perfect" time to get back in... perhaps a very good time is good enough.
TM
I will be operating in the six digit arena, as I feel strongly that this stock will return at least a 50% return within two to five years or sooner, and might even double or triple.
I do not see any real estate investment or fixed securities investment or any other stock at this point that I feel so strongly about.
Those of you that still own Citi... just be patient... I am still convinced you will be rewarded in the future.
I realize that this is a speculative move, but I am willing to take the risk.
Looking at the rest of the market, I also believe that Ford will prove to be a good investment, and I will probably buy some Ford .
............edit: I have purchased shares of Ford... looking longer term here.
I am less optimistic about Apple than I was previously, and I no longer own the stock, although I am definitely not recommending selling (or buying) Apple.
The market is still very dangerous, and I recommend extreme caution. Any purchases should be with sights set for longer term gains. Can you believe I just said that?
TM
The Future and Investing
Because the world is so unstable and cycles from boom to bust can devastate one’s savings, it is often best to invest in life itself. People need to build up treasures that the economy cannot touch such as relationships, the joy of giving, and becoming a better person. Being rich or poor is simply a state of mind.
Which gold, oil, and economic stock market forecasts and predictions for 2010 will come true? Hopefully only the good ones.
TM, you are the keenest at making high quality predictions...I might check you now and then! Just to keep you sharp!
Regards,
OW
TM
I know you are way too smart to risk the farm, and eventually you will be fine with your investments.
TM
Yes... It's just a matter of time.
TM
Have a great Fourth of July!
TM
From Ryan Ellis on Thursday, July 1, 2010 4:15 PM
In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:
Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:
- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%
Lots more taxes are coming
Be sure and get your exemption card!
I warned about this terrible tax increase recently, and I must tell you that I am outraged by it.
The idiots in the White House and Congress keep saying that they don't know what other ways they can stimulate the economy. What's sad and tragic here is that they truly DON'T know. They are actually stupid enough to raise taxes at a point in time when the economy is holding on by a thread.
One of the smartest things they could do would be to significantly CUT taxes at this point in time.
Our government is broken, AFAIC, and Obama is proving over time to be a terrible president. Add this to his slow reaction to the Gulf disaster. And, just to be clear, I am not saying Bush was any good either... as he was also an idiot.
Don't get me going on our tax policy. It infuriates me. It is beyond belief... idiotic and stupid.
We need a flat tax policy.
TM
I have no doubt that you have life's priorities in the right order.
TM
What is interesting to me is the parallel to the late 1970s. The big difference was interest rates were out of sight. So people were selling their businesses and dumping the money into money market and treasury bills. Making a lot more than was possible running most businesses.
Both situations made worse by inept government.
If only these bastards could cut spending and reign in the greedy public sector union system, tax cuts could be reality.
I see the Euro and Pound have been sharply gaining against the dollar, for no specific reason...more plotting?
United States of America...
A population over 300 million people, overrun by illegal aliens, and governed by a small handful of total idiots and liars making a lot of greedy and idiotic decisions that do not adequately benefit the millions of good people, but instead all-too-often benefit special interest groups.
That is no democracy. That is something else.
The terrorists are wasting their time... The government of the United States of America is already broken... with access granted to the highest bidders and the most influential con men... all of whom are traitors to the original spirit and intent of America.
May she rest in peace, for I loved her so much.
This Fourth of July, let's remember and celebrate the incredible dream called the United States of America.
TM
...and all the women and men who gave their lives to keep it free.
Regards,
OW
1. Some form of term limits.
2. Campaign contributions from individuals ONLY.
3. If a politician is caught taking a bribe or committing any felony a mandatory 10 year prison sentence. In my mind lying through their teeth is a felony.
Hey, it's a start !!
2013 LX 570 2016 LS 460
2013 LX 570 2016 LS 460
.The thing is that the economy-- as far as my eyes see --is perking along...When all the news media reports is negative stuff it can become self fulling , but not deservedly so.....The political arena is just monopolizing everything, so no one can get a word in edgewise....Talk about overexposed..Miserable...I guess the old saying about going away in May is right for this year....Tony