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isobars



Joined: 12 Dec 1999
Posts: 14612

PostPosted: Sat Jan 19, 2013 9:02 pm    Post subject: Reply with quote

slinky wrote:
why do the very wealthy only have to pay taxes on the the first $100,000?

Because their SS benefits/payments are capped correspondingly. The GOP wants to cap them further on the rich, but the administration, Reid, Pelosi, et.al. raised holy hell because it would cost them votes. After all, Obama personally told Bloomberg reporter Julianna Goldman there is no way he will compromise with the GOP on these issues. His handler, Valerie Jarrett, said almost exactly four years he was ready to rule, and he was caught on tape telling the Russians they only have to wait until after the elections for him to kowtow to them in whole new ways, and now that he doesn't have to sweat reelection, he's revealing his stripes more openly.
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stevenbard



Joined: 11 Nov 1993
Posts: 4340

PostPosted: Sat Jan 19, 2013 10:07 pm    Post subject: Reply with quote

capetonian wrote:
jpbassking wrote:
swchandler wrote:
.......... Again, I can only hope that Republicans come to their senses and act rationally.


Don't hold your breath SW.


Those heavily invested in gold are praying they don't come to their senses...just saying.


The whole idea that any politician will come to their senses is oxymornic. I think the trade of the century some day will by TBT. The question is when.
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keycocker



Joined: 10 Jul 2005
Posts: 3538

PostPosted: Sat Jan 19, 2013 10:24 pm    Post subject: Reply with quote

Politics is a profession that attracts a bad class of people.
By the time they reach US Gov. level the field has been thinned out to only scoundrels who have been bought.
As opposed to scoundrels who hold on to the illusion of integrity.
There are exceptions like GOP Olivia Snow who quit because she could no longer stand the smell.
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isobars



Joined: 12 Dec 1999
Posts: 14612

PostPosted: Sun Jan 20, 2013 8:55 am    Post subject: Reply with quote

stevenbard wrote:
I think the trade of the century some day will by TBT. The question is when.

But, as you know, if one's timing is off by a week or three, ya lose yer shortz. One advantage of ETFs is their Stop Loss feature, which provides for a quick exit during the day if its value nosedives. Of course, there are disadvantages, too, but the data show that gold, and even silver, have been and probably will remain less volatile and more profitable than stocks, bonds, or real estate over the last and next decades or more.
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capetonian



Joined: 11 Aug 2006
Posts: 907
Location: Oahu

PostPosted: Tue Jan 22, 2013 4:35 pm    Post subject: Reply with quote

My depressed outlook has nothing to do with politics and everything to do with secular macroeconomics. Lets compare 1982 to today:
-Fed funds rate and LT yields Were high then, low now and can only go up
-Tax policy rates were much higher in 1982, easier to decrease them back then
-Gov spending was a much smaller part of economy so increasing gov spending gave nice boost. Now we need to decrease gov spending
-Commodity prices were low throughout the 80s and 90s, not so much today
-Consumer credit was in its infancy back then, now is likely at close to maximum level so no more spending boost
-Wages grew strongly throughout the 80s and 90s, dont see any wage inflation on the horizon now

I lost a bunch on TBT already, but at some point it is a good trade.
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stevenbard



Joined: 11 Nov 1993
Posts: 4340

PostPosted: Tue Jan 22, 2013 6:30 pm    Post subject: Reply with quote

You are right in all your points Capetonian. TBT has been a lousy trade. Every time I get ready to buy some I chicken out. However, there will be a time that it becomes pretty obvious. We will see signs that people and countries start selling our paper.

I have a good reason to watch TBT because I have some loans that mature in 4 years. This will protect me once the slide begins.

We may be like Japan for the next 20 years however, and must admit that a poorer middle class may be upon us. I understand the frustration from the left regarding the wealthy. However, the ultra wealthy are few, and they game the political system. However, a guy making $500k per year is hardly the problem. It's the Solyndra guys who get mega govt loans, pay themselves huge bonuses, and then default with no liability. (after they've donated $ to their favorite party;)
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capetonian



Joined: 11 Aug 2006
Posts: 907
Location: Oahu

PostPosted: Tue Jan 22, 2013 7:16 pm    Post subject: Reply with quote

Or (to randomly pick on someone) the Facebook guy that relinquished his US citizenship. If he's ever in shit in a foreign land he'd better not try knocking on the door of the local US embassy for help.
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keycocker



Joined: 10 Jul 2005
Posts: 3538

PostPosted: Wed Jan 23, 2013 11:01 am    Post subject: Reply with quote

I have spoken with a guy who was so pissed at taxes which were twice as high as today's rates when he was making good money working in Saudi.
He switched nationalities for a Saudi passport.
Very smug about it
.Called us sheep.
Turned out not to have human rights as a Saudi and decided to return to the US. But could not get a tourist visa.
Asked to apply for US citizenship and they declined to accept an application.
They said he was not the sort of person that the US wanted as a citizen.
His sister said he is trapped in Saudi Arabia.
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boggsman1



Joined: 24 Jun 2002
Posts: 3753
Location: at a computer

PostPosted: Thu Jan 24, 2013 10:07 am    Post subject: Reply with quote

S&P 500 above 1500...pretty amazing considering it hit 666 on March 6th, 2009.
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pueno



Joined: 03 Mar 2007
Posts: 2763

PostPosted: Thu Jan 24, 2013 10:36 am    Post subject: Reply with quote

boggsman1 wrote:
S&P 500 above 1500...pretty amazing considering it hit 666 on March 6th, 2009.

<sarcasm>
Amazing how Obama is taking away our freedoms, ruining the economy, destroying jobs, stifling business, exponentially increasing government spending, inflating government's size.

If that crummy S&P performance doesn't show it, then what does?

AND WHAT ABOUT BENGHAZI??

</sarcasm>
.
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