Retirement Planning

For anyone remotely concerned with giving a shit about their retirement this is pretty good reading.

I know baseball, Kardashians and Facebook are time consuming but this might pay off to read and prepare.  Prepare?  To an American?  Prepare?   Sounds foreign.   I thought Americans only prepared to wait for checks from United States taxpayers.    Click this link, smarten yourself to some facts.


Social Security BANKRUPT

Can you fathom this number?

According to the rating agency, FITCH, for the first time in the history of the world there is now 11.7 TRILLION in negative yielding debt around the world.

No. One. Better. Anywhere.

Twisted BS from SCOTUS.....................

So, if you want an abortion in Texas, the Supreme Court says it is an 'undue burden' to require the person performing the abortion to be regulated by the state such that they have to have hospital privileges.

But it is not an 'undue burden' to require getting permits, taking training classes, going to an ATF authorized seller, etc -- to buy a gun?

It's a twisted world these days..........

So Crameresque in its message.........

The blathering, salivating nuts that get trotted out on CNBC who tell CNBC viewers (if there are any left, we only watch with the sound turned off so haven't listened to a stock tout or an advertising pitch in years) that they were cautious weeks, months or even a year ago and saw this market pull back coming.  These touts remind me of Bernie Madoff.

They should all be required to attend the Bernie Madoff Institue of Ethics which should feature the likes of Bernanke, Geithner, Paulson, Greenspan, Rubin, etc.......

Eventually it will all unwind.

America is losing today but that tide will turn.

Liberalism is a mental disorder............

Spent a fair amount of time, well, more than normal, this weekend on the internet getting things doped out as my good friend Maurice Altshuler would always say.   One of the things that still, to this day, astounds me is the level of liberal gibberish found in the letters to the editor of the Washington Post.

I can't even fathom living around people who think like that.

Jim Rogers talking his book

The UK's decision to leave the European Union will lead to an economic crisis more severe than what the world faced in 2008, according to legendary investor Jim Rogers, chairman of Rogers Holdings.

“This is going to be worse than any bear market you’ve seen in your lifetime,” he said on Yahoo Finance’s “Market Movers” program Monday. “2008 was bad because of debt. The debt all over the world is much, much higher now. Stocks in the US, for instance, have been going sideways for 18 months to 24 months. That’s called a distribution by many people. When you have distribution for a year and a half, it usually leads to bad things.”

Rogers — who cofounded the Quantum Fund with George Soros in the 1970s — believes the “leave” movement’s victory last week may threaten the British union. While any negotiated deal may help assuage the market’s Brexit fears, Rogers foresees a “bad case scenario” where Scotland and Northern Ireland leave the UK and London’s clout diminishes significantly as financial institutions move towards continental Europe.

“The UK already has huge international debts and it has balance of trade problems and budget problems,” he said. “The bear case is the pound disappears. England becomes Spain or Poland or Italy or something.”

While he doesn’t see an immediate collapse of England’s economy, Rogers anticipates a long-term decline in the country’s prospects.

“The deterioration will continue and make stocks go down a lot,” he warned.

Brexit’s win will also embolden other countries to leave the EU and separatist movements to break up a few states, Rogers predicted. That could make the world to look significantly different in just a half a decade.

“The EU as we know it will not exist,” he said. “The euro as we know it will not exist. Some people leave, others may join — unlikely, but they could join. There are a lot of angry people all over the world. Look at what’s happening in America." In the UK, he added, "People are making unbelievably incompetent statements but they’re very happy to be getting out [of the EU]. They’re so angry.”

Rogers said he is short US stocks but is long Chinese stocks and agricultural commodities. “These are the things that might do well no matter what happens going forward,” he explained. “These are going to be perilous times. I hope I get it right.”

He also expects a tougher time for the euro even relative to the British pound, as movements in other part of the European Union threaten its foundations. Rogers is long US dollars and is less negative on the Japanese yen and the Swiss franc.

“There are not many sound currencies left anymore,” he said. “They’ve all been ruined by politicians.”

529 Plan horrors........

The trading limitations found in 529 plans are criminal

As I sit here in early summer, knowing that tuition is due soon for so many across the nation it is almost enough to make a grown man cry.

Imagine how many wonderful parents and grandparents who saved and saved and saved for their children and grandchildren and who will need 529 money over the next 50 to 75 days only to see it decimated by this market dislocation.

Think about it.  Read the fine print folks.

Truly criminal in having trading limits on these 529 plans.