I don't think we should joke about airplanes here. I'm seeing way too many horror stories and I don't have stats, but way too many stories of techies....thinking the solution to their problems is some mayhem, murder-suicide and so on.
No, you're right of course, and as I mentioned, this was strictly gallows humor.
But, people have to expect this sort of insanity to take place in an insane world. When Americans, at all levels, seem so willing and able to sell out their fellow Americans (and further profit from publishing stories of their ill-repute -- more or less shoving our faces further into it), what other type of behavior can be expected.
More and more complications for less and less return.
That is the tell tale mark of collapsing societies.
Well, firstly this guy clearly had some serious issues going on. I have a hard time believing one gets their license revoked twice plus at least one audit, even with the twists and turns of business taxes....so let's wait for the details (unless they are never allowed to come out!)
But, I'd say even worse is Obama wants to go after employers miscategorizing workers as contract instead of employees.
Well, that's all great for lower wage/skilled workers...
but in terms of very small businesses who do projects/consulting with large companies...
uh, that's not so great. In other words, they are also killing the small businesses which have small contracts, providing services, such as technical services.
I don't think we should joke about airplanes here. I'm seeing way too many horror stories and I don't have stats, but way too many stories of techies....thinking the solution to their problems is some mayhem, murder-suicide and so on. Now I have not run into the IRS and my understanding, esp. for small business is they can and do destroy people and it's really bad, (and of course the large MNCs never have such woes), so I don't know how much they can push someone over the edge...
but anyway, that said, because the technical occupations are under so much attack for arbitrage, I'm seeing an increasing number of these beyond the pale multiple homicides, murder-suicides, suicides, mayhem, spree killings, killing their whole family and on and on....
and that's sure something I do not want to encourage. It's looks like technical people are the "going Postal" of 2000's.
I think there is something to it, to target commodity deflation, including Gold.
That's my concern in terms of being a gold bug (on this one, I'm just out to make a few bucks, more of a quick day trade interest).
I'm hoping they target oil. Beyond the banksters, I cannot think of a worse thing to happen to the U.S. economy than to have oil speculation and energy skyrocket like 2008.
Hope you comment on that post. I'm still not sure about the Fed move, if that is right and am really wondering about the carry trade and curtailing it. As I understand the carry trade, sure they are buying up U.S. treas. and making huge profits off of the spread (which is in itself absurd), but a large portion of it is flying off to EEs (emerging economies) where they believe they will get a huge return.
I would recommend a new manner to expedite one's tax return is to write on the bottom edge the following: "I happen to own an airplane." (OK, sorry for that gallows humor!)
It should be noted that gold priced in Euros hit another all-time record today.
Gold denominated in euros just hit €828/oz, a record price since the introduction of the euro currency. The change from the lows of late 1999, when gold was trading in the mid €200's is now 251%, or an annualized return of 12.54%, better than about 99% of all hedge fund returns in the past decade.
I believe the annualized return on gold priced in dollars since 1999 is around 15%.
All the paper currencies are falling, just at different rates.
Vegas, the place that was built in a desert, a place that is/was a boom town type of place. Will propping up something that can't be naturally sustained a good thing? IMO eventually the rates will go up and go up a lot more than I care to think about. God I hope we don't go back to Jimmy Carter days. I just have the feeling it is coming.
I am really looking into gold. I did the same back in the Carter days, gold and silver. I remember the line in San Francisco was around the block waiting to get into Deak-Perera. I met several other friends waiting in the same line.
"Obama to tout housing help Friday in Las Vegas -
President Barack Obama is unveiling $1.5 billion in housing help, a boost timed to his appearance in the city with the worst foreclosure crisis in the nation."
The PTB will not, no way no how, change their ways of bribing and paying of those they need to for votes. Both sides have their favorite payoffs. Since it is taxpayer money, do we get a say in the pay offs? No I didn't think so.
Production? True production, the capital producing stuff like manufacturing are not on the radar of our beloved elected officials.
speaking. Folks, now come on, I notice we get long threads on these political slant posts and zero comments on the in depth economic EIs, analysis, policy posts.
Ya all, what is site motto? When in doubt, grab a calculator, right?
Can we put the focus back on what is really going on with the economy here and the stats?
I mean I am gravely concerned personally without any derivatives reforms we're gonna have Economic Armageddon 2 in the next 3 years so....
uh, let's focus into if that's true and what can we do about it. What kind of legislation can we scream from the rooftops is a must pass??
Come on, TV is full of this crap and oh yeah, I get so upset with the illiterate masses invading my neighborhood and taking my money.
Damn executives drove up the price of homes, get their own roads paved while others go gravel, buy the local government and drive up food prices with their damn expensive wines and gourmet cheese.
My damn neighbor is a public nuisance with his personal helicopter pad!
We really need a fence or something to keep all of those greedy uber-richies out!
I'm so glad you posted this here because I was debating on what this raising of the discount window really means, especially with respect to the carry trade.
I don't know if you looked at the carry trade in all of this yet.
Ok, while I think deflating asset bubbles, in particular commodities, with heavy focus on oil/energy futures (because that will just plain cripple the economy as it did in 2008),
is critical,
I do not see precisely why this would work that way, but this is a first pass comment, I need to go read the delveraging through deflation link again.
But secondly, I don't see why we cannot shoot for a 5% GDP growth or even higher and have that be any issue. But it would be "what kind" of GDP growth. I mean yes if exports suddenly ballooned that would imply heavy increase in raw materials/energy/commodities...
but hell man, wouldn't that one be worth it (minus kick out the speculators those bums)?
Another would be capital investment, is that so god awful here?
I mean I think 70% of an economy being some sort of glorified coneheads mass consumption scenario is beyond stupid, and I can see an asset bubble with that...
but I don't see it being so bad with investment and a jumpstart/kick start of the real economy, i.e. production.
Also, there is this minor thing called people suffering and out of income/job.
1) Central Falls is not "100% Columbian". According 2000 Census "Hispanics" made up 47.8% of population - 100% would mean a huge - huge shift in 10 years.
2) Rhode Island has property tax and other taxes and I assume there is real property in Central Falls, RI - someone is paying property taxes. And these "Columbians", unless going across state lines, are buying things and if RI has sales tax then they are paying taxes.
3) Public education is NOT welfare.
4) Don't worry, I doubt "horde of illiterate invaders" will suffocate society - we are doing a good job of that to ourselves.
Economic polices since 1980 have done more to redirect income upward and destroy middle class than any welfare program that in many cases don't exist today.
I see the comments here only address someone who commented on what I wrote rather than what I wrote.
Cities like Central Falls, RI will get bigger and bigger and taxpayers who do pay taxes will be unable to carry the burden sooner or later of the hordes of illiterate invaders suffocating our society. BTW everything I wrote about that 'place' is an easily looked up fact.
We also cannot afford to pay for the miscues of the ultra wealthy who do not bleed overseas to protect this country, nor pay taxes on money they hide overseas. They are merely the leeches at the other end of the spectrum.
They all feed off the middle class.
There is a limit as to what a middle class can be burdened with and that point is fast coming.
None of this will end peacefully except in some economist's fantasy. People will reach a limit.
I found that my software was failing to carry forward capital losses -- and you bet I paid attention because I have capital losses carried forward all the way to the grave after last year's crash. For some reason, Congress and OMB do not understand that $3,000 is pretty meager -- hardly the same after 30 years of inflation. But whenever the question is raised, OMB and CBO wave the deficit flag and pretend anyone who has a capital loss must be rich anyway.
Because people, do not be an idiot and put your gold jewelry and other pieces of gold into an envelope to some far away place.
It's complete lunacy and this post has some good advice if you're looking to sell your gold household items to pay some bills. Separate it, get it appraised, weigh it and figure it out.
Please do not fall for those TV ads calling your gold, which at $1100 an ounce, realize how small an ounce is! maybe worth a good $3k in weight.....
don't listen to a TV ad claiming that's "scrap"! Don't put your stuff into an envelope to get anywhere from nothing to pennies on the dollar for your valuables.
Would you ship your savings account via freight to parts unknown because someone on TV decided to tell you it's really just scrap? I don't think so!
Predatory Lending is a major contributor to the economic turmoil we are currently experiencing.
Here is an example of what I am talking about:
Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.)
Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices:
"Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM."
The Center for Responsible Lending says YSP "steals equity from struggling families."
1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers.
Is gold the next currency for an ageing Australia?
The main demographic of people selling gold jewellery, coins and ingots is the 55 to 80 year old bracket. Sometimes referred to as ‘scrap gold’ it is now being sold at unprecedented rates. The reason may be two-fold.
The price of gold is now at its highest on record and with the global financial crisis cutting into the retirement and superannuation savings of many people, the sale of gold may be another way of supplementing income for the elderly.
A spokesperson from the retail gold sector, Michael Cohen of the Gold Company, reported that prices paid can vary from $250 to $950 an ounce depending on the company that consumers are dealing with. Mr Cohen advised that it is easy to determine approximate value.
“Separate the gold into 9ct, 14ct, 18ct etc… Then weigh each batch separately. Multiply the weight by the percentage of gold in the batch (e.g. 0.375 for 9ct) and then multiply that by the gold price of the day. That figure, less the refining costs and profit of the buyer, is what you should be offered.”
Other good tips for prospective sellers is to make sure you deal with a company that gives you the option to accept or refuse the offer with no hidden cost to you; ensure they have contact numbers listed for you to talk to someone and an address that you can visit their offices if necessary; and if you are not sure you are getting the right price, shop around.
I wrote up a post on how demand has also collapsed and this is especially true of small business. They don't want to borrow because their sales, business is so down, they can't use what they already have.
I really question a lot of these reports because the consumer is also downsizing on debt loads, simply because they don't want to spend what they know they do not have.
So, is it really banks are not lending or is it people and businesses do not have income?
I think a key is to look at very short term loans, such as those to bridge payroll. But mortgages and credit cards...
hmmmm, maybe auto loans and the denials on those might be a good indicator on the truth of banks refusing to lend vs. people refusing to borrow.
Also, the Fed just raised it's discount window. There is a strong carry trade, where banks were borrowing super cheap money, then literally putting it into EEs as well as Treasuries, making huge profits off of the interest spread.
I don't know if this will affect the carry trade, haven't analyzed it enough.
Such as procrastination, or more importantly, there are so many confusing rules with the IRS, believe me, chasing down all of the deductions, receipts if a full time job if one is running any sort of business and if you think Turbotax or Tax cut are going to catch them all or be error free for business....uh, think again.
I had an issue with a capital gains loss from 2000 (yes i was an idiot, yes I knew it was a bubble but I thought it would crash, crash, crash and did not, did not, did not...
so I got back in for some day trading and of course got seriously burned because I didn't have automatic triggers/alerts at that time!)
Anywho, I had a capital gains loss which you can continue to use indefinitely, $3k per year until it's all gone for your losses. One small problem, damn software wasn't subtracting the past years deduction from the total loss amount! I find generally that the software is something you really need to watch for loss carry forwards or spread across multiple years...
But the point being, even in the day and age of tracking your every move, your every purchase, even profiling you based on what you buy....
it's a full time job to take all of those deductions and make sure it's accurate by the rules.
Hence....well, people don't do it and of course CPA's often miss the same stuff.
i.e. behavior. This is another reason I hate tax cuts for it relies on people realizing their is one, documenting it, and remembering it for tax purposes.
For some reason I missed that this amount is part of the Nov. announcement, my bad.
I'm just not that closely monitoring Gold and I guess I'm going to leave the entire topic to you or others who watch this commodity more closely. I plain forgot the original post, more I was wonder why Gold dropped suddenly when the past announcement, which was a larger amount and India bought the whole thing at record highs...didn't do anything.
At least I caught the Soros manipulation. Why people think he's just out to fund "good in the world" is beyond me, just like Bill Gross "announcements" these cats are so huge they can move markets with their breath.
The original amount of gold that the IMF intended to sell was 406 tonnes over several years. Slightly more than half has been sold without it ever seeing the open market.
We are now talking about the last 191.3 tonnes of the same chunk.
The fact that it was reported as "news" is just an example of trying to smack down gold.
If you want a perfect example, look at what George Soros recently did.
A month ago he used the phrase, "The ultimate asset bubble is gold."
Now it turns out that Soros was doubling his gold holdings. He was talking down an asset so he could buy it cheap.
The IMF has recycled this news for different reasons, but the idea was still the smackdown.
Boy, ya know Greece just isn't that large of an economy and frankly I am really, really wondering about derivatives in terms of contagion and sovereign default at this point.
I mean you see this continual "oh we must be fair" and "if we bail out one we must bail out the other"...
but at the heart of this to me is contagion as the real issue and still I don't even see contagion really identified never mind decoupling fixes going on.
Did I miss something here or how much were derivatives, currency swaps involved in Thailand, S. Korea? I'll ignore Russia due to their own massive domestic corruption on this one.
I missed that comment. Right ok, now this is something, all political spin machines, all flavors, we want OFF of this site, inane rhetoric and beliefs not based in fact.
Jesus, we're talking trillions of dollars in corporate welfare and someone is taking some crap trying to blame welfare mothers for our economic woes...
(doesn't help that the entire system, including massive discrimination against single mothers, almost guarantees they are going to have to turn to social services for help to survive)
Oops, reminds me, there is a study out that says 53% of all "immigrant" families get social services. I haven't read it to see if it's spin or what and I esp. am not impressed with "immigrants" being lumped in together on that one (trust me, this study ain't making it to this site unless I can personally verify every single data point because the title is odious alone!) but I found that quite a shocking headline.
No, you're right of course, and as I mentioned, this was strictly gallows humor.
But, people have to expect this sort of insanity to take place in an insane world. When Americans, at all levels, seem so willing and able to sell out their fellow Americans (and further profit from publishing stories of their ill-repute -- more or less shoving our faces further into it), what other type of behavior can be expected.
More and more complications for less and less return.
That is the tell tale mark of collapsing societies.
Well, firstly this guy clearly had some serious issues going on. I have a hard time believing one gets their license revoked twice plus at least one audit, even with the twists and turns of business taxes....so let's wait for the details (unless they are never allowed to come out!)
Here is a post explaining one problem with one tax code beef.
But, I'd say even worse is Obama wants to go after employers miscategorizing workers as contract instead of employees.
Well, that's all great for lower wage/skilled workers...
but in terms of very small businesses who do projects/consulting with large companies...
uh, that's not so great. In other words, they are also killing the small businesses which have small contracts, providing services, such as technical services.
I don't think we should joke about airplanes here. I'm seeing way too many horror stories and I don't have stats, but way too many stories of techies....thinking the solution to their problems is some mayhem, murder-suicide and so on. Now I have not run into the IRS and my understanding, esp. for small business is they can and do destroy people and it's really bad, (and of course the large MNCs never have such woes), so I don't know how much they can push someone over the edge...
but anyway, that said, because the technical occupations are under so much attack for arbitrage, I'm seeing an increasing number of these beyond the pale multiple homicides, murder-suicides, suicides, mayhem, spree killings, killing their whole family and on and on....
and that's sure something I do not want to encourage. It's looks like technical people are the "going Postal" of 2000's.
I think there is something to it, to target commodity deflation, including Gold.
That's my concern in terms of being a gold bug (on this one, I'm just out to make a few bucks, more of a quick day trade interest).
I'm hoping they target oil. Beyond the banksters, I cannot think of a worse thing to happen to the U.S. economy than to have oil speculation and energy skyrocket like 2008.
Hope you comment on that post. I'm still not sure about the Fed move, if that is right and am really wondering about the carry trade and curtailing it. As I understand the carry trade, sure they are buying up U.S. treas. and making huge profits off of the spread (which is in itself absurd), but a large portion of it is flying off to EEs (emerging economies) where they believe they will get a huge return.
I would recommend a new manner to expedite one's tax return is to write on the bottom edge the following: "I happen to own an airplane." (OK, sorry for that gallows humor!)
On a more serious note, the Alternative Minimum Tax, someone wrote about in a previous post, kicks in fully this year.
Haven't checked any updated tax regs so don't know how the Obama legislation on taxes will affect it.
It should be noted that gold priced in Euros hit another all-time record today.
I believe the annualized return on gold priced in dollars since 1999 is around 15%.
All the paper currencies are falling, just at different rates.
Vegas, the place that was built in a desert, a place that is/was a boom town type of place. Will propping up something that can't be naturally sustained a good thing? IMO eventually the rates will go up and go up a lot more than I care to think about. God I hope we don't go back to Jimmy Carter days. I just have the feeling it is coming.
I am really looking into gold. I did the same back in the Carter days, gold and silver. I remember the line in San Francisco was around the block waiting to get into Deak-Perera. I met several other friends waiting in the same line.
"Obama to tout housing help Friday in Las Vegas -
President Barack Obama is unveiling $1.5 billion in housing help, a boost timed to his appearance in the city with the worst foreclosure crisis in the nation."
The PTB will not, no way no how, change their ways of bribing and paying of those they need to for votes. Both sides have their favorite payoffs. Since it is taxpayer money, do we get a say in the pay offs? No I didn't think so.
Production? True production, the capital producing stuff like manufacturing are not on the radar of our beloved elected officials.
speaking. Folks, now come on, I notice we get long threads on these political slant posts and zero comments on the in depth economic EIs, analysis, policy posts.
Ya all, what is site motto? When in doubt, grab a calculator, right?
Can we put the focus back on what is really going on with the economy here and the stats?
I mean I am gravely concerned personally without any derivatives reforms we're gonna have Economic Armageddon 2 in the next 3 years so....
uh, let's focus into if that's true and what can we do about it. What kind of legislation can we scream from the rooftops is a must pass??
Come on, TV is full of this crap and oh yeah, I get so upset with the illiterate masses invading my neighborhood and taking my money.
Damn executives drove up the price of homes, get their own roads paved while others go gravel, buy the local government and drive up food prices with their damn expensive wines and gourmet cheese.
My damn neighbor is a public nuisance with his personal helicopter pad!
We really need a fence or something to keep all of those greedy uber-richies out!
I'm so glad you posted this here because I was debating on what this raising of the discount window really means, especially with respect to the carry trade.
I don't know if you looked at the carry trade in all of this yet.
Ok, while I think deflating asset bubbles, in particular commodities, with heavy focus on oil/energy futures (because that will just plain cripple the economy as it did in 2008),
is critical,
I do not see precisely why this would work that way, but this is a first pass comment, I need to go read the delveraging through deflation link again.
But secondly, I don't see why we cannot shoot for a 5% GDP growth or even higher and have that be any issue. But it would be "what kind" of GDP growth. I mean yes if exports suddenly ballooned that would imply heavy increase in raw materials/energy/commodities...
but hell man, wouldn't that one be worth it (minus kick out the speculators those bums)?
Another would be capital investment, is that so god awful here?
I mean I think 70% of an economy being some sort of glorified coneheads mass consumption scenario is beyond stupid, and I can see an asset bubble with that...
but I don't see it being so bad with investment and a jumpstart/kick start of the real economy, i.e. production.
Also, there is this minor thing called people suffering and out of income/job.
1) Central Falls is not "100% Columbian". According 2000 Census "Hispanics" made up 47.8% of population - 100% would mean a huge - huge shift in 10 years.
2) Rhode Island has property tax and other taxes and I assume there is real property in Central Falls, RI - someone is paying property taxes. And these "Columbians", unless going across state lines, are buying things and if RI has sales tax then they are paying taxes.
3) Public education is NOT welfare.
4) Don't worry, I doubt "horde of illiterate invaders" will suffocate society - we are doing a good job of that to ourselves.
Economic polices since 1980 have done more to redirect income upward and destroy middle class than any welfare program that in many cases don't exist today.
Just saying.
RebelCapitalist.com - Financial Information for the Rest of Us.
I see the comments here only address someone who commented on what I wrote rather than what I wrote.
Cities like Central Falls, RI will get bigger and bigger and taxpayers who do pay taxes will be unable to carry the burden sooner or later of the hordes of illiterate invaders suffocating our society. BTW everything I wrote about that 'place' is an easily looked up fact.
We also cannot afford to pay for the miscues of the ultra wealthy who do not bleed overseas to protect this country, nor pay taxes on money they hide overseas. They are merely the leeches at the other end of the spectrum.
They all feed off the middle class.
There is a limit as to what a middle class can be burdened with and that point is fast coming.
None of this will end peacefully except in some economist's fantasy. People will reach a limit.
http://online.wsj.com/article/SB1000142405274870331500457507340110294550...
I found that my software was failing to carry forward capital losses -- and you bet I paid attention because I have capital losses carried forward all the way to the grave after last year's crash. For some reason, Congress and OMB do not understand that $3,000 is pretty meager -- hardly the same after 30 years of inflation. But whenever the question is raised, OMB and CBO wave the deficit flag and pretend anyone who has a capital loss must be rich anyway.
Frank T.
but I'm going to let this one slide. Why?
Because people, do not be an idiot and put your gold jewelry and other pieces of gold into an envelope to some far away place.
It's complete lunacy and this post has some good advice if you're looking to sell your gold household items to pay some bills. Separate it, get it appraised, weigh it and figure it out.
Please do not fall for those TV ads calling your gold, which at $1100 an ounce, realize how small an ounce is! maybe worth a good $3k in weight.....
don't listen to a TV ad claiming that's "scrap"! Don't put your stuff into an envelope to get anywhere from nothing to pennies on the dollar for your valuables.
Would you ship your savings account via freight to parts unknown because someone on TV decided to tell you it's really just scrap? I don't think so!
Predatory Lending is a major contributor to the economic turmoil we are currently experiencing.
Here is an example of what I am talking about:
Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.)
Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices:
"Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM."
The Center for Responsible Lending says YSP "steals equity from struggling families."
1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers.
http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-...
Is gold the next currency for an ageing Australia?
The main demographic of people selling gold jewellery, coins and ingots is the 55 to 80 year old bracket. Sometimes referred to as ‘scrap gold’ it is now being sold at unprecedented rates. The reason may be two-fold.
The price of gold is now at its highest on record and with the global financial crisis cutting into the retirement and superannuation savings of many people, the sale of gold may be another way of supplementing income for the elderly.
A spokesperson from the retail gold sector, Michael Cohen of the Gold Company, reported that prices paid can vary from $250 to $950 an ounce depending on the company that consumers are dealing with. Mr Cohen advised that it is easy to determine approximate value.
“Separate the gold into 9ct, 14ct, 18ct etc… Then weigh each batch separately. Multiply the weight by the percentage of gold in the batch (e.g. 0.375 for 9ct) and then multiply that by the gold price of the day. That figure, less the refining costs and profit of the buyer, is what you should be offered.”
Other good tips for prospective sellers is to make sure you deal with a company that gives you the option to accept or refuse the offer with no hidden cost to you; ensure they have contact numbers listed for you to talk to someone and an address that you can visit their offices if necessary; and if you are not sure you are getting the right price, shop around.
I wrote up a post on how demand has also collapsed and this is especially true of small business. They don't want to borrow because their sales, business is so down, they can't use what they already have.
I really question a lot of these reports because the consumer is also downsizing on debt loads, simply because they don't want to spend what they know they do not have.
So, is it really banks are not lending or is it people and businesses do not have income?
I think a key is to look at very short term loans, such as those to bridge payroll. But mortgages and credit cards...
hmmmm, maybe auto loans and the denials on those might be a good indicator on the truth of banks refusing to lend vs. people refusing to borrow.
Also, the Fed just raised it's discount window. There is a strong carry trade, where banks were borrowing super cheap money, then literally putting it into EEs as well as Treasuries, making huge profits off of the interest spread.
I don't know if this will affect the carry trade, haven't analyzed it enough.
Such as procrastination, or more importantly, there are so many confusing rules with the IRS, believe me, chasing down all of the deductions, receipts if a full time job if one is running any sort of business and if you think Turbotax or Tax cut are going to catch them all or be error free for business....uh, think again.
I had an issue with a capital gains loss from 2000 (yes i was an idiot, yes I knew it was a bubble but I thought it would crash, crash, crash and did not, did not, did not...
so I got back in for some day trading and of course got seriously burned because I didn't have automatic triggers/alerts at that time!)
Anywho, I had a capital gains loss which you can continue to use indefinitely, $3k per year until it's all gone for your losses. One small problem, damn software wasn't subtracting the past years deduction from the total loss amount! I find generally that the software is something you really need to watch for loss carry forwards or spread across multiple years...
But the point being, even in the day and age of tracking your every move, your every purchase, even profiling you based on what you buy....
it's a full time job to take all of those deductions and make sure it's accurate by the rules.
Hence....well, people don't do it and of course CPA's often miss the same stuff.
i.e. behavior. This is another reason I hate tax cuts for it relies on people realizing their is one, documenting it, and remembering it for tax purposes.
For some reason I missed that this amount is part of the Nov. announcement, my bad.
I'm just not that closely monitoring Gold and I guess I'm going to leave the entire topic to you or others who watch this commodity more closely. I plain forgot the original post, more I was wonder why Gold dropped suddenly when the past announcement, which was a larger amount and India bought the whole thing at record highs...didn't do anything.
I saw MTGM has a couple of good posts on this, Gold Bull Market explained and another.
At least I caught the Soros manipulation. Why people think he's just out to fund "good in the world" is beyond me, just like Bill Gross "announcements" these cats are so huge they can move markets with their breath.
The original amount of gold that the IMF intended to sell was 406 tonnes over several years. Slightly more than half has been sold without it ever seeing the open market.
We are now talking about the last 191.3 tonnes of the same chunk.
The fact that it was reported as "news" is just an example of trying to smack down gold.
If you want a perfect example, look at what George Soros recently did.
A month ago he used the phrase, "The ultimate asset bubble is gold."
Now it turns out that Soros was doubling his gold holdings. He was talking down an asset so he could buy it cheap.
The IMF has recycled this news for different reasons, but the idea was still the smackdown.
Boy, ya know Greece just isn't that large of an economy and frankly I am really, really wondering about derivatives in terms of contagion and sovereign default at this point.
I mean you see this continual "oh we must be fair" and "if we bail out one we must bail out the other"...
but at the heart of this to me is contagion as the real issue and still I don't even see contagion really identified never mind decoupling fixes going on.
Did I miss something here or how much were derivatives, currency swaps involved in Thailand, S. Korea? I'll ignore Russia due to their own massive domestic corruption on this one.
I missed that comment. Right ok, now this is something, all political spin machines, all flavors, we want OFF of this site, inane rhetoric and beliefs not based in fact.
Jesus, we're talking trillions of dollars in corporate welfare and someone is taking some crap trying to blame welfare mothers for our economic woes...
(doesn't help that the entire system, including massive discrimination against single mothers, almost guarantees they are going to have to turn to social services for help to survive)
Oops, reminds me, there is a study out that says 53% of all "immigrant" families get social services. I haven't read it to see if it's spin or what and I esp. am not impressed with "immigrants" being lumped in together on that one (trust me, this study ain't making it to this site unless I can personally verify every single data point because the title is odious alone!) but I found that quite a shocking headline.
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