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Panic button has been hit by several governments. A summary of what governments are doing globally: Selling snake oil and issuing unbacked paper currency are not so different. They’re both wildly successful ploys for the guys pulling the strings. And they’re both complete scams that depend solely on the confidence of a willing, ignorant public. But once the confidence begins to erode, the fraud unravels very, very quickly, and the perpetrators resort to [...] from Fox Business, via Eduardo89rp: Peter Schiff: The Real Fiscal Cliff Is Dollar Crisis! Buy Gold! Buy Silver! Own Real Things!!!
Obama Admin Looks To Control Americans’ $19.4 Trillion In Retirement Accounts Remember that old phrase, “I’m from the government, and I’m here to help”? Well, it looks like we are hearing it again, at least on the issue of keeping Americans’ retirement funds safe. The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a [...] Among other findings: http://www.peakprosperity.com/dailydigest/79342/daily-digest-725-spain-feels-debt-heat-state-college-tuition-rising#new Women live longer than men, earn less and take more breaks from the workplace to care for children and elderly parents, which all add up to scary financial penalties. Totaling an extra $849,000 over a lifetime, purely for being born a woman, AOL put these monetary disadvantages in black and white dollar terms. The average total is made up of life expectancy and higher insurance costs, the price of taking time off work, lower wages [...] By Farid Khavari
The residents of Miami-Dade County need and deserve more than a balanced budget achieved by cuts and layoffs. This is a direct path to financial disaster for our county. What Miami-Dade County residents need instead is a bright future with prosperity and economic security.
In stark contrast to all other mayoral candidates, I have a precise and well-thought-out economic plan to create a bright economic future for all Miami-Dade [...] Matthew Amster-Burton, Mint
Recently on the mint.comFacebook page, a reader asked a common question:
Any investments for people with very little money to invest? Normally, my response to this is the one nobody wants to hear: put the money in a savings account or savings bond, check out a book about investing from the library, save more money while you read the book, and start investing once you have the $1000 minimum to open an [...] Mac Slavo
If there exists a single factor that can put enough pressure on the whole of the American economy and force it to crumble under its own weight, it’s the price the average American pays for gas. Extreme up-side gas price swings have preceded seven of the last eight American recessions, most recently in the summer of 2008 when drivers were forced to pay an all time high [...] By Jeff Berwick You’ve been sold a bill of goods for the last four to six decades. You’ve been told that nation-states, democracy and socialism is good. You’ve been told our monetary system prevents instability. And, while the government and central banks put your unborn children or grandchildren into debt for life they’ve been telling you that there will be a socialist safety net to protect you and that the “American [...] by Michelle Hirsch, The Fiscal Times Americans are slowly starting to feel better about their finances.
That’s evident from the latest retail sales figures released by the Census Bureau, which show that we’re spending more on cars, furniture, clothing, and electronics. There’s one key area where Americans haven’t been buying, though: the stock market. Despite record-low interest rates and a nearly four-month-long stock market rally, Americans remain reluctant to invest in stocks. About 76 percent of those polled for [...] Mac Slavo If there exists a single factor that can put enough pressure on the whole of the American economy and force it to crumble under its own weight, it’s the price the average American pays for gas. Extreme up-side gas price swings have preceded seven of the last eight American recessions, most recently in the summer of 2008 when drivers were forced to pay an all time high [...] Reward savers and retirees?Don’t penalize them GUEST EXPERT 04/18/2012 RealPlayer WinAmp Windows Media MP3 James J Puplava CFP with Jim Rickards Transcript JIM: Joining us as my special guest on the program today is James Rickards. He’s senior managing director at Tangent Capital and also author of the bestselling book Currency Wars: The Making Of The Next Global Crisis. And Jim, I want to begin our discussion today on something that you did recently; you submitted a testimony to the Senate Banking [...] But when the big corporations lay off American workers they always say: “this isn’t personal, it’s business.” United we stand, I will not join AARP until it stops doing business with Big Businesses (Insurance Companies i.e. the Hartford Ins.) who out sources American workers for foreign India workers, etc. If people would stop joining, we would see corporations respect American workers, because… We the People are standing united against this [...] By Paul B. Farrell, MarketWatch SAN LUIS OBISPO, Calif. — “America’s investors have been ripped off as massively as a bank being held up by a guy with a gun and a mask,” former Securities and Exchange Commission Chairman Arthur Levitt warned in an article in Fortune magazine a decade ago. That same year in his classic “Take On The Street,” Levitt lambasted the fund industry as “a culture that [...] by Libby Kane There are a lot of ways that men and women differ, but we bet there’s one you might not guess right off the bat. Retirement. Yes, retirement. According to a January 2012 study by Ameriprise Financial, more men than women have determined how much money they’ll need to retire, have set aside money in their investments for retirement and feel confident that they’ll reach their goals. In fact, a 2010 study found that 92% of [...] by Noelia de la Cruz Living to 100 will cost you a shocking $3.5 million over your lifetime, reportsSmartMoney’s Jonnelle Marte. Using data from the U.S. Bureau of Labor Statistics, Marte revealed that nearly half of that $3.5 million will be spent by your 50th birthday. Boomers in their 60s will spend the most as they transition into retirement, mostly on housing. Nearly $155,50 will go to their mortgage, utilities and home decor. But while 60-somethings will spend [...] by Donna Freedman I got a big income tax refund last year. Well, I would have, if I hadn’t applied it toward the quarterly taxes I pay as a freelancer. What are you going to do with your refund, if any? My MSN Money colleague Liz Pulliam Weston suggests spending 10 percent of any windfall on something non-essential. But don’t let the rest of the money trickle away. I’m not going to address the idea that tax refunds are of the devil, i.e., [...] Gene Sperling, director of the White House’s national economic council, said today at an official meeting that “we need a global minimum tax”: “He supports corporate tax reform that would reduce expenditures and loopholes, lower rates for people investing and creating jobs in the U.S., due so further for manufacturing, and that we need to, as we have the Buffett Rule and the individual tax reform, we need a global minimum tax so [...] By Andrea Coombes, MarketWatch SAN FRANCISCO — You’d think a legislative bill to fund the nation’s highways and mass-transit systems would have no connection to your retirement savings. But that didn’t stop lawmakers from proposing an amendment to the bill that would have trimmed a valuable retirement-plan benefit. The proposal would have raised about $4.7 billion over 10 years by changing the rules governing how people who inherit an [...] |
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Gov’t ready to take pensions, 401K’s!!!
Via Michael Krieger of Liberty Blitzkrieg blog,
[ZH: We have discussed this threat over the past several years (must read).] The obvious concept is that when the government runs out of money, or they face a drying up in interest for its debt, they will come for the $19.4 trillion in American’s retirement accounts. It seems that day may be finally drawing near.
I stopped contributing to my 401k back when I worked at [...]