Reinke Faces Life

http://lifehacker.com/5860339/spare-change-musical-reminders-and-battery-power/

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Two points on your change tip.

http://lewrockwell.com/sardi/sardi193.html

Counterfeiters In Our Midst
by Bill Sardi

*** begin quote ***

Stop debasing our money. This is a trick that has been played upon the masses for centuries now. Mining interests in Arizona, however, want to push on the American populace a flimsy copper-zinc-manganese-nickel Susan B Anthony dollar-coin, actually only worth a few pennies, and Congress is listening if for no other reason than political donations. You can read the USA Today story here.

The false argument is that coins last virtually forever while paper money lasts on average 42 months and the cost savings are estimated at $5.6 billion over 30 years. This would trim $186 million a year off the annual Federal debt of $1.5 trillion (or 1/100th of 1% of the national debt). Here is real cost cutting at work my friend! The Joint Committee on Deficit Reduction will hear arguments for greater use of this pseudo-coin in an effort to reduce the national debt.

*** and ***

Well it is kind of difficult to confront someone with the obvious. Just how much has the US dollar been debased? Let’s try 1600%. That is the current value of a US minted 1-ounce silver eagle gold coin ($1600).

You: You mean to tell me that the paper dollar in my wallet should be able to buy $1600 worth of goods or services?

Me: Yes, that is right. What did you think this means? It means you’ve been fleeced by that amount.

*** end quote ***

So I 1971 US dollar, the kind before Nixon abandoned the international gold standard, would be worth $1600 in purchasing power today.

That’s stunning!

What would it be if we went back to when FDR took us off the national gold standard, remember he paid the citizens 23$/oz and then declared it was worth 32$/oz.

I think it’s about about the same order of magnitude.

Stunning.

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http://www.ricedelman.com/cs/pressroom/pressroom_detail?pressrelease.id=2693

Could You Raise $2,000 in a Pinch?
For Immediate Release
October 28, 2011

*** begin quote ***

Or would you feel pinched?

If your roof sprung a leak or your dentist said you needed a crown, would you be able to write a check to cover such an emergency?

Either might cost $2,000, but about half of Americans say they couldn’t come up with that much cash within 30 days.

*** and ***

If half of Americans can’t come up with two grand in an emergency, imagine their reaction to our advice that you maintain as much as two years’ worth of spending in cash reserves. For most Americans, $2,000 wouldn’t even cover costs for much more than a month.

*** end quote ***

I think that number is conservative.

For one income families, or families where the principle earner, where that earner is over 50, then two years is NOT imho enough.

Last time I updated my formula for estimating “time to find another job”, I had 50-54 as a 3 multiplier / 55-60 as a 4 / 60-65 as 5. That’s probably LOW!!!

A five multiplier says in effect that you may not work again. That is it predicts 5 years to find another job.

Based on what I’m hearing and seeing, 55 and up may be unemployable as other than the WalMart greeter.

These politicians have really mucked up this economy.

And, anyone over 40 should be scared for their “white collar” job. They should be seeking there own business and alternative streams of income.

Those one income families should be thinking along the same lines. Two earners and living on the lesser of the two paychecks is ideal.

No doubt that worse times are coming. Regardless of which party wins in 2012.

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http://biggovernment.com/dmitchell/2011/10/15/the-laffer-curve-wins-again-snooki-1-irs-0/

The Laffer Curve Wins Again: Snooki 1, IRS 0
by Dan Mitchell

*** begin quote ***

I don’t know if that’s true, but let’s give it a try. I now have an example of the Laffer Curve for the MTV audience. Best of all, the story is from USA Today.

The IRS got red-faced trying to collect the new tanning tax, burning a hole in estimates on how much the levy would bring in to federal coffers, a new report said Thursday. …Tanning tax receipts for that nine-month period totaled $54.4 million, the report found. That was below projections by the Congressional Joint Committee on Taxation, which had estimated the tax would raise $50 million in the last three months of fiscal year 2010 and $200 million for the full 2011 fiscal year.

Let’s deconstruct the numbers from the article. The Joint Committee on Taxation estimated that this new “Snooki” tax (part of the awful Obamacare legislation) was going to raise about $50 million every three months.

Yet during the first nine months, the tax raised just $54.4 million, not $150 million.

*** end quote ***

The fancy name for this behavior is “dynamic scoring”.

Bottom line is that everyone adapts their behavior to the conditions. Conditions change; behaviors change.

For politicians and bureaucrats to make predictions, that assume “static” behavior, demonstrates stupidity.

But then doesn’t that perfectly describe ALL Gooferment actions?

# # # # #

You know how “they say” “too late I get smart”.

(Where did my content go?)

# # # # #

My original content disappeared.

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I realize that I’ve missed many tax deductions by not having a method to capture all these expenses.

So, finally, I was browsing in Staples and I spotted “rent receipts”. So now I am capturing it.

Too little too late. Better late than never.

For example, last Saturday, a neighbor came over with two cubs to sell popcorn. (Again!)

So, I signed up and paid up. There was no receipt. So, using my new tool, I wrote my own.

Original stays in the book for future reference if I need it. The copy goes into the tax folder.

If I have a receipt, I staple it on to the copy.

It’s all about data capture.

Wish I’d done it years ago.

Argh!

# – # – # – # – # 2011-Oct-20 @ 21:15

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=587818&src=IBDDAE&p=2

Are Democrats Eyeing 401(k)s, IRAs for Tax Hit?
By JOHN MERLINE, INVESTOR’S BUSINESS DAILY
Posted 10/12/2011 02:53 PM ET

*** begin quote ***

Obama’s Economic Recovery Advisory Board suggested cutting or ending the retirement tax deduction to pay for an expanded Saver’s Credit, which is now targeted at low-income workers.

Obama’s National Economic Council chairman, Gene Sperling, also has endorsed scrapping the tax deduction in favor of a refundable tax credit.

Baucus hasn’t endorsed any specific change, but said at the hearing that “we need to look for ways to do more with less.”

*** end quote ***

When these “addicts” need money, they’ll steal wealth from anywhere.

Will this be the thing that gets “We, The Sheeple” off the couch?

They’ll keep trying until they get it.

Look at FDR’s gold confiscation!

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http://dumpdc.wordpress.com/2011/10/03/its-the-money-stupid/

It’s The Money, Stupid

*** begin quote ***

The American government is going to die because they screwed up the money. IT’S ALL ABOUT THE MONEY. IT’S THE MONEY, STUPID. And it’s DC’s greed that will be its undoing. Fiat currency…the dollar…is an nonredeemable debt instrument. The dollar-based monetary system is 100% based in debt. Precious metals are money. They are 100% based in value. Redeemability provides stability, which produces predictability. THAT’S how you run an economy.

*** end quote ***

If you distill “our problems” to one essential flaw it’s the money.

How can you play a game, where the “player / banker” participates?

At monopoly, the make introduced credit card to eliminate that flaw.

We need to do the same thing in our mess. (What else can you call the economy / politics / legal framework?

We need a free market in money.

Repealing the “legal tender” laws — it’s money because the Gooferment says it is — would allow “We, The Sheeple” to chose their poison.

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http://www.catholicculture.org/news/headlines/index.cfm?storyid=11854

Nigerian bishops lament refusal to implement minimum wage
September 26, 2011

*** begin quote ***

The bishops of Nigeria are lamenting the refusal of state governments to implement a new national minimum wage.

*** end quote ***

Argh!

Economics is not faith and morals so the bishops are NOT infallible.

Maybe next the good bishops will opine on how to set broken bones?

Economics is called the dismal science because wishing doesn’t make it so. You can’t change reality by Gooferment diktat!

Implementing, or in the case of the USA raising, a minimum wage will ensure that folks will be unemployed.

So what’s worse, reality with people working or unemployment?

FYI, one should always stick to their area of expertise.

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http://dumpdc.wordpress.com/2011/09/17/flash-editorials-september-17-2011

Flash Editorials September 17, 2011
By Russell D. Longcore

*** begin quote ***

The Nation: At Monday night’s “Tea Party Debates,” EVERONE on stage…including Ron Paul…said Social Security and Medicare should be saved. And apparently, Governor Perry felt fine about writing in his book that SS was a Ponzi scheme, but when faced with voters, he nearly soiled himself trying to get away from those words. SS and Medicare are indeed Ponzi schemes, and ALL the candidates who want to save them are criminals. Deal with it.

*** end quote ***

I think that calling “Social Security Insurance” a Ponzi scheme is unfair to old Ponzi. It does quickly communicate and editorial about the value of SSI, but Ponzi could NOT make folks participate. He had to defraud them the old fashion way by deceiving them into voluntarily giving him their wealth. Uncle Sam sam put a gun to your head and says: “Pay me”! It is many things: mislabeling (it ain’t insurance), fraudulent (terms are subject to the whim of Congress), and ineffective (inflation exceeds roi). But, not Ponzi, because you were forced to play along. We know how to unravel it; Herman Cain brought up Chile. We know how bad it is (i.e., a wealth transfer from poor minority men to rich white women). We know the ROI (i.e., estimates are between a negative 2% to as high as negative 6%).

There is an element of good public policy in it. Future taxpayers ought not be burdened with your welfare cost should you fail to provide for your old age. If you disagree with the mean old Libertarians who say “that’s your problem if you starve” knowing full well that there will be sufficient private charity to care for those truly in need. Then, be “liberal”, and say that as a condition of your protection provided by the military, you must provide for your old age to a certain level. Use the Insurance Companies to help individuals meet that minimum obligation through annuities that would be guaranteed by the pool of Insurance Companies selling such coverage. (Ever see Insurance Companies scrutinize each other in a “pool”. Think proctology exam. No one wants to be stuck with the other’s liabilities.)

So, let’s find a better word than “Ponzi”. Unfortunately all the ones that I could come up with were not suitable for polite company.

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