No one knows why the market is up
The market index is up over 7% so why do some advisors claim we are having a recession. Others think a new rally is not impossible. What does this mean for the middle class, for retirees, for Wall Street? When in doubt, do nothing. Trying to find the next market winners has never been successful. Following the latest technical charts has been mind-bending. Advisors must still make sales to keep their jobs so of course they must pitch something. Some will be successful in their guessing; others will not and we don’t know in advance. The bosses at my brokerage firm used to say “we need activity (securities either bought or sold) to make money. Go through your book.” One of the greatest investors, Warren Buffett, says “Our holding period is forever.” Lucky investors who follow his advice to use the Vanguard 500 Index fund are enjoying 9.5% over the last 5 years. Most advisors have not beaten that return history.
Control what you can control. https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490
Another way Wall Street helps wealthy avoid taxes
The wealthy sell their thousands of losing stocks in profitable companies to take the loss against their income to reduce taxes. Then they buy similar profitable companies back so they can take advantage of another round of this tax deduction trick in the future. Since they own thousands of the shares, they create big deductions for future tax benefits. Since 1921, claiming tax losses from so-called wash sales — selling shares of a company then buying them again within a short period — has been forbidden. But former MS chief Steve Ballmer collected his losses anyway because, technically, the types of shares he bought and sold weren’t the same. Both Shell and BHP offered two different versions of their common stock. For each company, the two stocks were legally distinct, but they performed very similarly because they were shares in the same company. Goldman Sachs, which conducted the trades on Ballmer’s behalf, used the stock market’s natural volatility to make this legal tax trick to help him cut taxes. ProPublica estimates that from 2014 through 2018, Ballmer was able to generate tax losses totaling $579 million without changing his investment portfolio in a meaningful way. The tax savings from these losses amount to at least $138 million. The data comes from the PP “The Secret IRS Files” series. Most of us with wage income cannot deduct more than $3,000, while the wealthy can easily deploy $100 million in capital “losses” to cancel out a $100 million gain from selling some of their vast holdings. Most of the wealthy can avoid taxes and run up the deficit for the rest of us to pay off.
Our alternative: https://www.amazon.com/New-American-Retirement-System-Reserve/dp/1461030072
?**********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
The
Path to Dictatorship: 2010-2030
Parallels of this era in the past
may hint at our future: democracy breaks apart legally
Billionaires
paid $881 million for votes in 2022
midterm elections
Nov 2020 Wealthy
discredit election process
Jan
6 2021 Direct
assault failed: guns
& bombs ready
Trump
engaged in a "criminal
conspiracy" to stop Biden
“I
don’t f—ing care that they have weapons”
Trump was “detached
from reality”
Trump
used mafia-style intimidation on the defenseless
Trump still terrorizing
election woman
Parscale: “a
sitting president asking for civil war.”
Trump:
“Just
say the election was corrupt and leave the rest to me”
GOP fascism: “RINO
hunt armed; no bagging limit” J6
comm threat
January
6, 2021 “A
date which will live in infamy”
Trump’s Supremes END
personal rights & state
laws except for weapons
WMDs
Fascism: GOP
to stop women leaving state for abortion
It’s
not a court. It’s a junta: Two Americas
Trump: President
Biden is 'enemy of the state'
Christian
Nationalist Party (CNP) replaces
GOP
Jan 2025 Dictator
pardons himself: his Supremes agree
How Govt wastes our money:
Canceling Trump tax breaks for the rich would cut deficit spending automatically
Firing
workers won’t cut deficit: collecting from wealthy tax cheats would cut it.
IRS
targets Black men with kids making 30-40K for audits: get easy IRS
promotion
IRS
can’t decide if 19 states’ pandemic/inflation checks are taxable.
Navy planned end of
8 “lemon” ships: FL repair firms’ lobbyists
told Congress keep jobs
Chinese spy
balloons went undetected: why pay Pentagon?: Trump claims never knew
SCAMS/SPINS:
Not
one of 8 on scene hesitated killing powerless fellow American citizen. Not
one!
MO
GOP vote to let children carry guns in public: insanity and death
Hidden fees, junk fees, add-ons: FTC says they know: can Congress stop them?
Seven
ways to spot a Ponzi scheme, and other scams: be ready, they are waiting
for you
AMC
to charge more for good seats in movie theaters: soon streaming will cost
more
30 states have sports wagering: promise
of massive revenues, which haven't materialized.
FL
school library removes all books: educators can be charged with felony
Scam: TikToker
shared her cancer journey and raised thousands on GoFundMe
Fresh Creative Cuisine fruit sandwiches fruit cups recalled due to possible Listeria
Fabuloso cleaners recalled for risk
of bacteria exposure
Mario E. Rivero caught
defrauding elderly of $626,000: personal closeness
Atul Makharia CFI’s SC caught
sold complex VRSPs to retirees; unsuitable products
WellsFargo caught
charged us for unneeded auto-collision insurance; lied to investors.
“Do
Not Drive” older Honda Acura if air bags not replaced: explosion can
hurt
“Why
is an 8-year-old carrying a sidearm in the street?”: GOP kills gun safety
for all bill
Trump: I am victim of prosecutors like “even
the late great gangster, Alphonse Capone! “
NH gov: Trump
“crazy”, belongs in mental institution but still support him for 2024.
“Follow the money” Koch
Billionaire Network Wants to Defeat Trump in 2024
Rep.
Boebert suggests God used her to stand up to McCarthy: but Kevin won: OMG
Trump’s Supremes
can’t agree to act with integrity: leaking decisions, voting GOP, etc
Jobs
½ million Americans got a job so Wall Street falls—they wanted more unemployment
10-fastest-growing-jobs-many-pay-over-100000.html
Construction industry needs to attract 546,000 new workers this year
Retailers are on pace to open
even more stores this year than last, at a rate of 3-to-1
Who owns your account now?
Price new car hit a record of $48,681: one year’s pay!
Medicare
‘flex cards’ are not as advertised: need Medicare Advantage policy
Some insurers won’t cover certain Kia and Hyundai models staggering theft rates.
Why do we receive such bad medical service/advice?
Miracles:
IRS special Saturday hours for next four months at
Taxpayer Assistance Centers (TACs)
@
Our Universe is Mind-Blowing
Light is both
a particle and a wave depending on how we look at the light.
I
don’t think that there is any such thing as a position or a velocity of a
particle.
Everything (galaxies
to stones) in universe made of subatomic
energy ‘vibrations’
A subatomic ‘particle’
is the smallest possible vibration (quantum) of a quantum field.
Mass–energy
equivalence: E=mc^2. At the smallest
level; Everything is moving a little
Energy into matter: scientists
converted light energy directly into matter in one step
Physics Nobel Prize:
“entanglement” 2
particles share info instantly at a distance
“It may be that gravity and quantum mechanics are
exactly the same thing,” Leonard Susskind
Gravity
might induce the collapse of quantum vibrations into 1 quantum state—our
world
There is no TIME at this
level because of force fields come and go in all directions.
Universe expanding: events
may not come together like they did before.
Inside protons,
neutrons, it
is the fields of the virtual particles that creates its mass.
Gold
made from neutron stars: collisions produce more neutrons:79 protons,118
neutrons
The proton
is so complicated science still finds new energy entities/forces every
year.
“Empty space is a
boiling, bubbling brew of virtual
particles that pop in and out of existence in a time scale so short that you
can’t even measure them.” Space expanding.
The electricity we use comes
from the field around the wire not from election itself.
Scientists
build 'baby' wormhole as sci-fi moves closer to fact: inside quantum
computer
starts-with-a-bang/universe-expansion-not-accelerating/
@
We can apply for
Medicare online: https://blog.ssa.gov/apply-for-medicare-online
We can apply for Social
Security online: https://www.ssa.gov/benefits/retirement/
We can apply for
health care online: https://www.healthcare.gov/
IAN
973.746.2014
http://www.theinsidersguides.com/
Alerts available
at http://dankeppel.blogspot.com/
