The personal saving rate in the United States is on a multi-decade decline. Part of this has to do with Americans putting their money into alternative savings vehicles like 401ks and IRAs but a large part of this has to do with Americans simply not saving. Roughly one-third of US households have no savings to speak of. After the recession hit, the savings rate increased as Americans were forced to save [...]
Guys. This is the opinion of some “gurus”. Yes, broke governments like the USA may try to confiscate your savings.
I got my pension funds confiscated in 2008 , or better said “nationalized”.
Just a part of this article:
“…With respect to which assets governments will likely be coming for next, Jim said, ”401k plans, IRA’s, and pensions plans which the government knows about [may be next]…They’re rationale would be, ‘Well most people [...]
April 6, 2013
President Obama’s budget, to be released next week, will limit how much wealthy individuals – like Mitt Romney – can keep in IRAs and other retirement accounts.
The proposal would save around $9 billion over a decade, a senior administration official said, while also bringing more fairness to the tax code.
The senior administration official said that wealthy taxpayers can currently “accumulate many millions of dollars in these [...]
Now Obama targets your FedEx, UPS packages
The Obama administration is demanding the nation’s two biggest shipping companies police the contents of Americans’ sealed packages, and a FedEx spokesman is warning that the move “has the potential to threaten the privacy of all customers that send or receive packages.”
FedEx and UPS are in the Justice Department’s cross-hairs for not flagging shipments of illegally prescribed drugs the companies say they had no [...]
As the year draws to a close, there’s still time to reduce your 2012 tax bill and plan ahead for 2013. The following are a few potential tax-saving opportunities. While none of us can predict the outcome of the fiscal cliff drama unfolding in Washington — except to say that it will be torturous and prolonged and entirely satisfactory to no one — these strategies offer a way to [...]
Washington: A team of astronomers has spotted sugar molecules in the gas surrounding a young Sun-like star, using the powerful telescope Atacama Large Millimeter/submillimeter Array (ALMA).
This is the first time sugar been found in space around such a star, and the discovery shows that the building blocks of life are in the right place, at the right time, to be included in planets forming around the star.
The astronomers found molecules [...]
From The Big Picture:
Whenever there is turmoil in the markets, my phone lights up with calls from journalists, investors, and potential clients. They are typically in a panic about the crisis of the moment and are calling for my take on the situation.
In my decades as an investor and analyst on Wall Street, I have learned that panics come and go. They turn out not to be the main cause [...]
Uncle Sam, in a desperate attempt to fix its $16 trillion-plus deficit, is leering over Americans’ retirement nest egg as its new bailout fund.
Capitol Hill politicians are assessing tax changes that could let the Internal Revenue Service lay claim to a portion of the $18 trillion sitting in 401(k) accounts and other tax breaks used by middle-class workers, including cutting the mortgage tax deduction.
A commission looking for ways to close [...]
by Jill Krasny
Lousy spending habits aren’t the only thing tightening workers’ cash-flow, according to the latest PwC Financial Wellness Survey.
The fact that many of us are forced to tie up our money in employer-sponsored IRAs and 401(k)s is also to blame.
PwC found more than one-third of American workers (35 percent) said they’re more likely to use retirement funds to pay other expenses and are consistentlycarrying balances on credit cards.
Money matters are also causing friction at [...]
When AP is printing stories like this, we’re headed over the falls
At the top of Tuesday’s agenda is finding a means to more fully integrate the eurozone’s disparate nations — ranging from powerful Germany to tiny Malta — both politically and financially. And the ministers must do it fast, without the delays caused by democratic niceties like referendums that have led many EU reforms to take years to implement.
Hanging the regulators [...]
by Jan Paul
Permanent Open Market Operations
Purchases or sales of securities on an outright basis that add or drain reserves and change the size of the System Open Market Account (SOMA) portfolio are amongst the tools used by the Federal Reserve to implement monetary policy.
are only one of many things going on that impact the markets and the low volume of buyers who are either ahead of the pack or very [...]
Because this cheap credit crap has given many people a false sense of wealth.
TOO MUCH DEBT because of CHEAP CREDIT.
Deflation is here and cash (i.e., $FRN) is king. Think about it, the world has more debt than the current world GDP can service. So, if everyone is going to inflate their currencies to weaken the debt, then we (i.e., World) will remain in the same situation.
HOWEVER, if these markets [...]