Tuesday, March 24, 2009
Wednesday, March 11, 2009
Good Job Citi -lol
Hell, If the Guvment gave me $10,000,000,000 I would have made a profit in January and February! no lol
Tuesday, March 10, 2009
Taxes American Style
JUST SOME Taxes Americans
Accounts Receivable Tax
Building Permit Tax
Capital Gains Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel permit tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax
Interest expense (tax on the money)
Inventory tax IRS
Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Local Income Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Septic Permit Tax
Service Charge Taxes
Social Security Tax
Road Usage Taxes (Truckers)
Sales Taxes
Recreational Vehicle Tax
Road Toll Booth Taxes
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone federal excise tax
Telephone federal universal service fee tax
Telephone fed, state and local surcharge taxes
Telephone minimum usage surcharge tax
Telephone recurring & non-recurring charge tax
Telephone state and local tax
Telephone usage charge tax
Toll Bridge Taxes
Toll Tunnel Taxes
Traffic Fines (indirect taxation)
Trailer registration tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft registration Tax
Well Permit Tax
Workers Compensation Tax
COMMENTS: Not one of these taxes existed 100 years ago and our nation was the most prosperous in the world, had absolutely no national debt had the largest middle class in the world and Mom stayed home to raise the kids. What the hell happened?
Every entity that produces and sells goods and services also pays taxes. The tax is an expenses that is ultimately paid by consumers. Approximately 23% of the cost for everything we buy is just to pay the producers taxes. Remember: businesses do not pay taxes they pass that expense onto the consumer, you and me. To raise tax on business is to raise tax on you and me. Our leaders know this fact they just count on us being to stupid enough to fall for class warfare.
When is it our fair share and when is it another form of slavery?
It is a fact that USA is the greatest & strongest nation in the world and we offer the highest standard of living because we are Capitalists. I want to keep my hard earned money, you can keep the CHANGE.
Bailout American Style
Bailout Analogy - Restaurant
I have 2 tenants that run restaurants. One of the tenants offers great food & great service so they are busy all the time and making money.
The other tenant has lousy food & lousy service so they are going broke and can't pay their rent.
Should I raise the rent on the good restaurant and give the money to the lousy restaurant so they can stay in business?
Can Crude Survive $80
Can Crude Survive 80?
Economy is bad, jobs numbers are bad, everything seems bad…but what about Crude? Wasn't it the hottest thing all over Bloomberg and CNBC just a few weeks ago? What happened? Whatever the case, this new video is EYE OPENING!
http://www.ino.com/info/300/CD3616/&dp=0&l=0&campaignid=3
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Subject: Can the US Survive 80 Crude?
For the first time since September of 2007, the crude oil (NYME_CL) market has flashed a positive signal that it is headed higher. This is the first buy signal that we have seen in over 18 months in the energy markets.
The big question is, if crude oil is headed higher, how much of a price increase can the US economy afford and withstand? Find out here:
http://www.ino.com/info/300/CD3616/&dp=0&l=0&campaignid=3
Here is a raw commodity that is used by everyone and the US has no control over. This key commodity to commerce just happens to be in areas that are normally hostile to the US. If we see a hiccup in the supply chain that changes this market dynamic, even for a short time period, we could see oil move back to the $80/barrel range in a heart beat.
So how will this affect the US equity markets? If crude oil heads back to the $75-$80 range, I expect that the major indices will head south. I call it the 551 syndrome. 5000 on the Dow, 500 on the S&P 500, and finally 1000 on the NASDAQ.
In this short video I will share with you the potential target zones we could see in the next 6 to 12 months in crude oil.
http://www.ino.com/info/300/CD3616/&dp=0&l=0&campaignid=3
So with the trend in crude oil in a positive trajectory and the trend in the US equity markets in a negative trajectory, I think the two will feed off themselves. Look for traders and hedge funds to move aggressively in both these areas with abandon.
Lastly with no reinstatement of the up-tick rule, expect stocks to once again get pummeled to oblivion.
Enjoy the video and all the best in trading,
Adam Hewison
President, INO.com
Co-founder, MarketClub
Sunday, March 8, 2009
Right On Jim!
Jim Rogers Doesn't Mince Words About the Crisis
Maria Bartiromo talks to global investor Jim Rogers
In 1970 a young Wall Streeter named Jim Rogers hooked up with George Soros to start the legendary Quantum Fund. The ensuing decades have seen Rogers build an iconoclastic career as an author, adventurer, and creator of the Rogers International Commodities Index. And throughout, Rogers—now based in Singapore—has remained an outspoken global investor. Today is no different. He has harsh words for former Fed Chairman Alan Greenspan, suggests President Barack Obama and his economic team are not up to the task, and thinks tough love is the answer for America.
MARIA BARTIROMO
What do you think of the government's response to the economic crisis?
JIM ROGERS
Terrible. They're making it worse. It's pretty embarrassing for President Obama, who doesn't seem to have a clue what's going on—which would make sense from his background. And he has hired people who are part of the problem. [Treasury Secretary Tim] Geithner was head of the New York Fed, which was supposedly in charge of Wall Street and the banks more than anybody else. And as you remember, [Obama's chief economic adviser, Larry] Summers helped bail out Long-Term Capital Management years ago. These are people who think the only solution is to save their friends on Wall Street rather than to save 300 million Americans.
So what should they be doing?
What would I like to see happen? I'd like to see them let these people go bankrupt, let the bankrupt go bankrupt, stop bailing them out. There are plenty of banks in America that saw this coming, that kept their powder dry and have been waiting for the opportunity to go in and take over the assets of the incompetent. Likewise, many, many homeowners didn't go out and buy five homes with no income. Many homeowners have been waiting for this, and now all of a sudden the government is saying: "Well, too bad for you. We don't care if you did it right or not, we're going to bail out the 100,000 or 200,000 who did it wrong." I mean, this is outrageous economics, and it's terrible morality.
You have said Bear Stearns and Lehman (LEHMQ) would still be around if Greenspan hadn't bailed out Long-Term Capital Management in 1998. Can you explain?
Well, if Long-Term Capital Management had been allowed to fail, Lehman and the rest of them would've lost a huge amount of money, their capital would've been impaired, and it would've put a terrible crimp on Wall Street. It would've slowed them down for years. Instead of losing capital, losing assets, and losing incompetent people, they hired more incompetent people.
Should AIG (AIG) have been allowed to fail, too?
First of all, banks and investment banks and insurance companies have been failing for hundreds of years. Yes, we would've had a terrible two years. But you're dragging out the pain. We had 10 years of the worst credit excesses in world history. You don't wipe out something like that in six months or a year by saying: "Oh, now let's wake up and start over again."
What about Citigroup (C)? What about the car companies?
They should be allowed to go bankrupt. Why should American taxpayers put up billions to save a few car companies? They made the mistakes! We didn't make the mistakes! I'm sure they'll give them the money, but I'm telling you, it's a mistake. It's a horrible mistake.
I totally understand what you're saying, but the banks are under massive pressure.
They all took huge, huge profits. Who was the head of Citigroup? Chuck Prince? I mean, how many hundreds of millions of dollars did Prince take out of the company? How many hundreds of millions of dollars did other Citibank execs take out of the company? Wall Street has paid something like $40 billion or $50 billion in bonuses in the past decade. Who was that guy who was the head of Merrill Lynch (MERR)?
Stan O'Neal?
Right, Stan O'Neal. He got $150 million for leaving, even though he ruined the company. Look at the guy at Fannie Mae (FNM), Franklin Raines. He did worse accounting than Enron. Fannie Mae and Freddie Mac (FRE) alone did nothing but pure fraudulent accounting year after year, and yet that guy's walking around with millions of dollars. What the hell kind of system is this?
Are you worried the economic crisis will lead to political turmoil in China and elsewhere?
I absolutely am. We're going to have social unrest in much of the world. America won't be immune.
What does all this mean from an investment standpoint?
Always in the past, when people have printed huge amounts of money or spent money they didn't have, it has led to higher inflation and higher prices. In my view, that's certainly going to happen again this time. Oil prices are down at the moment, but that's temporary. And you're going to see higher prices, especially of commodities, because the fundamentals of commodities are enhanced by what's happening.
Which commodities are worth buying or holding on to?
I recently bought more of all of them. But I really think agriculture is going to be the best place to be. Agriculture's been a horrible business for 30 years. For decades the money shufflers, the paper shufflers, have been the captains of the universe. That is now changing. The people who produce real things [will be on top]. You're going to see stockbrokers driving taxis. The smart ones will learn to drive tractors, because they'll be working for the farmers. It's going to be the 29-year-old farmers who have the Lamborghinis. So you should find yourself a nice farmer and hook up with him or her, because that's where the money's going to be in the next couple of decades.
Maria Bartiromo is the anchor of CNBC's Closing Bell.
Monday, March 2, 2009
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