MONEY: The stretch IRA to be killed

Monday, February 20, 2012

http://www.forbes.com/sites/deborahljacobs/2012/02/08/congress-may-crush-key-tool-for-ira-inheritors

Personal Finance
2/08/2012 @ 3:40PM
Congress May Crush Key Tool For IRA Inheritors
Deborah L. Jacobs, Forbes Staff

*** begin quote ***

Let’s hope there’s enough of a public outcry that this legislation doesn’t pass. If it does, owners of traditional IRAs will have one more reason to convert them to Roth accounts. For more about Roth conversions, see my post, “Smart Moves For Battered IRAs” and two sophisticated strategies described here and here by Forbes Associate Editor Ashlea Ebeling. Meantime, stay tuned.
Hat tip to financial planner Michael Kirsh and CPA Robert Keebler for calling the pending legislation to my attention.

*** end quote ***

More bad advice. Pay taxes now rather than later? Guess what tax rates in the future or ROIs will be. I never liked IRAs or 401Ks just because it put you at the mercy of the future politicians and bureaucrats. Argh!

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RANT: Flash Editorials February 18, 2012, by Russell D. Longcore

Monday, February 20, 2012

Flash Editorials February 18, 2012, by Russell D. Longcore:

“Entertainment: Have you ever had someone in your life that was an addict? You watch this amazing person self-destruct and you are powerless to stop it. Meanwhile, it tears out your heart and messes up your life. Whitney Houston landed on this earth with stunning beauty, immense singing talent and a heart filled with love. She just could not seem to love herself. I will miss her. “

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Well said.

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SERVICE: Anther horror story of an old computer failing

Monday, February 20, 2012

On Saturday, I visited an old Jasper in the hospital. He was in for an emergency tune up. Hope he’s out by now. But, to the point, he was telling me his troubles with an unbacked up old Windoze box that was giving him fits. And, his family’s designated stuckee for tech support. Last time, he went through this, I pitched Mozy, Carbonite, or Pogoplug. Reprised that song.

On Sunday, I heard from a relative who’s old unbacked up Windoze box was circling the proverbial bowl. (Seems like “unbacked up” goes with “old Windoze box”.) Reprise my backup song.

Now I realize I’m crazed about it. Two belts and two suspenders.

My photos are on three live boxes, sugarsynced, carbonited, and pogopluged.

My data is on two live boxes, dropboxed, carbonited, and pogopluged.

Special projects are on one, two, or three live boxes, dropboxed, carbonited, and pogopluged. AND, boxneted.

I’ve lost work to Microsoft’s crappy solutions before.

Sure it’s messy, but if I lose something because I fat finger something, there’s always several places to recover from.

Argh!

It’s only common sense.

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WRITING: A Veteran of Unknown Origins

Monday, February 20, 2012

A Veteran of Unknown Origins

The Accident

It was a dark and storm night. The day had been a beautiful sunny summer’s day. The change was dramatic. He’d had the top down all day, but put it up for the drive home. Wife always complained of “fumes” on the highway even though cars returned purer air from the “exhaust” than came in the “intake”. But women; that was one battle no husband would ever win. She had other offsets; the Irish eyes, the rapier wit, and an athletic constitution. The picnic with relatives was fun. Seeing so may generations in one place at one time was inspiring. He turned off Route 37, drove by “his” American Legion Post, saluted, and approached the turn onto the ocean block. The storm intensified, lightin’ ‘n’ thunder, and the street was covered with several inches of storm water. He’d be glad to get his baby in the garage. The cherry ’57 Caddie was his special occasion ride. As he turned, he saw the surge. It looked like a foot or two wave coming right from the ocean. It lifted the heavy Caddie and rolled it. Wife was sucked right out of the car; he was restrained by the new fangled seat belt that she refused to mess her dress with. There was an instant to panic as the water engulfed him and the world went dark.

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The Scene

Lefty ran into the Post bar and yelled: “John: Call 911. There’s a one car accident in the back lot.” The Post Commander was tending bar and. like a good ex-military man, he could follow orders. “911. What IS your emergency?” “Post 351 has a one car accident in their parking lot.” “Anyone hurt?” “Don’t know yet.” “I’m dispatching now.” With that John went to see the accident. The bar had cleared; this was going to be the excitement of the day.

From the porch, he could see a Caddy on it’s side with sand all around it. Maybe the jerk rolled it speeding around the bend on Route 37, but he’d have had to be doing over 100 to get that many rolls. Then he notice that the lot’s fence was intact. Did it drop from the sky?

Walking over to it, he could hear the exclamation by someone: “I don’t care what it looks like, it does NOT look like any Caddy I’ve ever seen. The logos are right but everything else is wrong.” “Anyone hurt.” “The driver’s belted in but out of it. We’re waiting for rescue to backboard him. He’s got an American Legion jacket on, but even that’s strange Post 158247532?”

Patrol rolled up on the scene, and the officer radioed in: “We’re got a DUI here. Send a supervisor and HazMat for a fuel spill.” The rescue squad was right behind him. “Get him out and I’ll handcuff him to the gurney. Suspicion of DUI.” John was frosted: “Officer how can you presume he’s drunk?” “Rolling a car? Duh! I’ll probably get to write 5 or 6 tickets. Maybe get a commendation.” John looked around for Pete, the Post’s attorney. “Pete: Make sure this fellow doesn’t get railroaded. Until he can fend for himself, it looks like he’s ours.” “Sure. Give me a dollar as a retainer.” “You brigand!” The officer reached into the car, opened the glove box, and grab what he believed would be the registration. Pete chimed in: “OK, unreasonable search and seizure. Did you ask my Client for his license, registration, and proof of insurance before you search his closed glove box?” “No. He’s unconscious. Probably drunk out of his mind.” “Assumes facts not yet in evidence. May I have the material you seized from my Client? And you can address your questions to me. Unless you don’t want your pension going to my retirement account.” As visions of tickets satisfying his quota danced in his head, he handed over the papers. “OK, counselor, we’ll play it your way. Client’s name?” Looking at the American Legion jacket, “Ameril E Gion, will do for now”, and looked at the papers. He was in trouble. There was a New Jersey registration, but there was no name on it. Same with the Insurance Card, who ever heard of ‘State Met Pru’ Insurance. And the ‘paper’ felt like plastic. 

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The Hearing / Witness #1

“Ms. Buhl, for the record, please state your credentials.” “Certainly, I’m a Doctor of Forensic Medicine, as well as Pathology. I chair the Medical Anthropology School at the State University. I teach Medical Examiners, Pathologists, and Researchers. I also hold a doctorate from the State University in Chemistry. Specifically, DNA. My dissertation was on the ‘Unique Components of Humanity’s DNA. Where I …”

“Thank you, Ms. Buhl. I’m sure the Court accepts you as an expert. What can you tell us about John Doe?”

“You really mean ‘Adam’s friend Baker’. That’s an old anthropology joke which has special significance here. See the Bible says Adam and Eve were the first humans. There is DNA evidence that every human is indeed descended from an ‘Adam’ and an ‘Eve’. There are obsolete DNA fragments that are identical in every human being. Your John Doe doesn’t have them. Hence we’ve identified him as ‘Adam’s friend Baker’. Adam and Baker had different parents. Completely different. He has different obsolete DNA fragments. This is science shattering. All our understanding has to change.”

“Did you autopsy John Doe’s body? And what does that tell you.”

“My Baker, your John Doe, was what one would expect as a typical American male. Except his finger prints were not on file anywhere. He’s human, but there are many uniquely strange findings. For example, his eye’s show no signs of corneal degradation due to UV sunlight. Even in a teenager, one can see sun damage that will eventually develop into cataracts; Baker’s eyes are like a newborn’s. For example, his blood chemistry is off. His Vitamin C, D, and E levels are 1000 times normal. His coronary arteries look better than a baby’s. His teeth are perfect without even a film from his last meal of fried chicken, corn, mashed potatoes, with gravy. It’s like he went from a dental cleaning to the accident.”

“Was he drunk?”

“No signs of any intoxicant or drugs in his system. With the exception, aspirin! He had high levels of that. So high as to wonder how he ingested it. He didn’t get it via the stomach becuse such a level would have burned through the lining. It’s like he’d just come from an IV infusion. I’ve cryogenically preserved everything I could for a time when our science catches up to him.”

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The Hearing / Witness #2

“Mr. DuBois, for the record, please state your credentials.” “Certainly, I’m a PhD in both Material Science and Mechanical Engineering.” “Thank you. Did you examine the car that John Doe was found in?” “Yes.” “Your findings?” “I have over 11,000 pages of findings.” “Summarize for us layman.” “John Doe’s car was not made on this planet.” “Excuse me?” “The only thing in common between this car and our planet is that the elements are the same. For example, the car is made out of “steel”. Our steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. That “steel” has no carbon, but uses two .5% each harding agents of manganese and tungsten. Unheard of before. It’s lighter, stronger, and presents a completely different profile under stress. For example, John Doe’s Cadilac engine has a V-14; our “Cadilac” has had V-12 or a V-16. Never a 14. For example, the gasoline in John Doe’s tank was 104 octane and tests out to deliver 52.5 Megajoule per liter in energy. It is infused a nanostructured porous material which we believe is a lubricating fluid. Here are just three of a thousands of other world uniqueness.

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The Hearing / Witness #3

“Ms. Duchone, for the record, please state your credentials.” “Certainly, I’m the head of the FBI Identification Section and Doctor of Biometric Engineering.” “Please describe your findings.” “The car yields over 80,000 fingerprints. This contained 4,000 index fingers. We compared every print with all known sources of prints. No matches. None!” “Conclusions?” “It’s impossible.” 

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The internment

At Post 351, having be granted Guardian Ad Litem for John Doe, ‘Adam’s friend Baker’, created a tomb for him in the back parking lot where he was found.

“Here lies Baker, a truly unknown. We believe he’s a veteran, but we don’t know of what. But like all comrades in arms, even if he’s from the wrong side, we honor his service. Even though we have no clue what it was, where it was, or when it was. We honor the contribution he’s making every day to our indigent fellow vets.”

John saluted and dismissed the assembly.

Strange how things worked out. Baker was a font of discoveries. And, all the money he “earned” came to the American Legion charity fund. Too much money. So the American Legion notified all the other veterans organizations to join them in helping Baker’s fund help indigent vets. VFW, VFA, JWV … didn’t matter, Baker was a cash cow.

Funny how things end.

Where was Baker from?

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TINFOILHAT: Fill in the blanks. BHO44 is …?

Sunday, February 19, 2012

http://lewrockwell.com/casey/casey109.html

Doug Casey on Obama and the 2012 Election
Interviewed by Louis James, Editor, International Speculator

*** begin quote ***

L: So, should we define Obama?

Doug: That’s hard to do. You know, it’s funny. When Trump was running, I criticized him. It’s hard for me to say anything good about Trump under any circumstances – but he at least had the brass to ask questions about Obama that other public figures wouldn’t touch, questions about who Obama really is and how he seemed to appear from nowhere. To my knowledge, no one has stepped forward to identify themselves as a school friend, or even a college friend of his. I’m not a conspiracy theorist, but I have to say that as far as I know, none of these questions have been satisfactorily answered.

L: You don’t need to believe any conspiracy theories to notice that there’s something odd about the man. He seems like a big zero to me, not a big O. Even when he’s reading the speeches people write for him to pull on the population’s heartstrings, he comes across almost completely wooden. Sometimes I’m sure he’s pausing not where there are commas or periods, but where the lines wrap on his teleprompter. He has the personality of a frozen mackerel.

Doug: It’s interesting that you point that out – I’ve often wondered if the special interests behind him couldn’t come up with anyone better. I’m not saying he has to be another George Carlin or Dave Chappel, but it would be nice to see that someone is home. Obama is so flat, I can’t even be sure whether he’s intelligent or not, although I initially assumed he was very smart. With Baby Bush, it was clear that he actually lacked intelligence. With Obama carefully plodding through his teleprompted speeches, I actually can’t tell if he’s smart or not. He was president of the Harvard Law Review, which would seem to argue for intelligence, but that could have been finessed as well. And exactly who paid for all his schooling and related expenses? I honestly don’t know who we’re dealing with.

*** end quote ***

Someone else asking similar questions?

And no reported or writer is digging out the facts.

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MONEY: Predicting a Euro collapse

Sunday, February 19, 2012

http://www.forbes.com/sites/tomgroenfeldt/2012/02/09/if-the-euro-breaks-up-scenarios-for-greece-piigs-and-total-collapse

Tech
2/09/2012 @ 12:35PM
If The euro Breaks Up — Scenarios For Greece, PIIGS And Total Collapse
Tom Groenfeldt, Contributor

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SunGard is not alone in modeling the potential for a eurozone break-up. Finextra reports that firms such as ICAP and industry utilities like CLS, the FX settlement bank, have initiated scenario planning in the event of a major soveriegn default and subsequent euro exit. It also said that banknote printers have reported that central banks have been scouring the market for printing presses capable of running large stocks of once-defunct currencies.

As the song says, breaking up is hard to do.

*** end quote ***

So how does the little guy play this?

Like the sailing ship of old, it’s rig for stormy weather.

* Cut your OPEX (operating expenses).

* Minimize your CAPEX and build your capital for the future.

* As many in the tin foil hat community say, build your food larder. Even if you’re not preparing for the end of the world, food prices are not going down anytime soon. The Mormons are said to believe that everyone should store a year’s worth of food. Can’t hurt.

* Save in inflation protected way. (The tax of inflation is the silent killer of savings.) If nothing else, everytime you get a nickel save it. (It’s worth 7½¢ now.)

* Develop skills or sidelines that can lead to alternate streams of income. A web-based business can have an store open 24/7/365. You can write stories and publish them for free.

* Stay in shape because getting sick will be even more expensive in the future.

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FUN: You just need an RX

Saturday, February 18, 2012

A nice calm lady went into the pharmacy, and said to the pharmacist, ” I’d like to buy some cyanide.”

The pharmacist asked, ” Why in the world do you need cyanide?”The lady replied, ” I need it to poison my husband. “

The pharmacist explained, ” I can’t give you cyanide to kill your husband, that’s against the law! I’ll lose my license! They’ll throw us in jail! Absolutely not! You CANNOT have any cyanide!”  The lady reached into her purse and pulled out a picture of her husband in bed with the pharmacist’s wife.

The pharmacist looked at the picture and said,” You didn’t tell me you had a prescription.”

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Tip of the Hat: To wife’s school chum, who made me laugh.

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FUN: A harmonica in Carnegie Hall.

Saturday, February 18, 2012

FROM LUDDITE

Subject: Worth a listen

http://www.wimp.com/harmonicacarnegie/

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A harmonica in Carnegie Hall.

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Agreed. Some talent; some lungs. No date? No name. Should show that to all the children to inspire them? Impressive.

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POLITICAL: JFK’s reputation further soiled

Friday, February 17, 2012

http://www.irishcentral.com/story/news/periscope/john-fkennedy-the-lecherous-lover-at-
odds-with-camelot-image—-new-book-destroys-the-camelot-fantasy-for-me-139147369.html

Periscope
by Niall O’Dowd
John F. Kennedy the lecherous lover at odds with Camelot image — New book destroys the Camelot fantasy for me

*** begin quote ***

The latest memoir by a former lover makes me think twice about John F.Kennedy.

Mimi Alford’s account of her sexual dalliance with President Kennedy when she was a White House intern cannot be refuted by the late president but I have to say it rings true.

She was just 19-years-old when Kennedy, then 45, took her aside and to his wife’s bedroom where he ended her virginity.

There was worse to come. Perhaps the most damning part of the book is when Kennedy gets the very young woman to ‘service’ his White House aide Dave Powers while Kennedy looks on.

It is pretty disgusting stuff and while we all knew Kennedy was a roué, the direct evidence like this makes it a lot less appealing than the glamorous Marilyn Monroe alleged affair.

*** end quote ***

It seems like politicians have a tendency to be lying pigs.

JFK was supposedly the “first Roman Catholic President”. Acclaimed by all the Priests, Nuns, and Brothers in my schools, he was the single Greatest exemplar of Catholicism in my lifetime.

And, like most humans place on some pedestal or other by some one or some group, he’s found wanting.

It’s sad really, that leaders have so little character.

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POLITICAL: Education as a civil right

Friday, February 17, 2012

http://lewrockwell.com/williams-w/w-williams113.html

Rising Black Social Pathology
by Walter E. Williams

*** begin quote ***

At a bare minimum, part of the solution to school violence and poor academic performance should be the expulsion of students who engage in assaults and disrespectful behavior. You say, “What’s to be done for these students?” Even if we don’t know what to do with them, how compassionate and intelligent is it to permit them to make education impossible for other students?

The fact that black parents, teachers, politicians and civil rights organizations tolerate and make excuses for the despicable and destructive behavior of so many young blacks is a gross betrayal of the memory, struggle, sacrifice, sweat and blood of our ancestors. The sorry and tragic state of black education is not going to be turned around until there’s a change in what’s acceptable and unacceptable behavior by young people. That change has to come from within the black community.

*** end quote ***

I’m in no position to comment on this, BUT, (and there is always a BIG butt), I can assert that the meme of Gooferment Skrules is wrong.

In the 80’s, I spent a lot of time and effort to gather data and draw conclusions. At the time, the most generous calculation of per pupil cost demonstrated that the State spending was DOUBLE the most expensive private school in the state. DOUBLE! Just send everyone to the Peddie School in Princeton. So my plan was a FORTY year workout. The first twenty was getting the State out of the biz of running the schools (i.e., 5% per year of students were allowed to spend their “education voucher” anywhere they wanted to). The second twenty was getting the State out of paying for education (i.e., the voucher amount would be reduced 5% every year until it reached zero). Everyone has time to adapt.

The three major class of comments: (1) the poor can’t afford to educate their children; (2) the education complex is too deeply entrenched to allow this to happen; and (3) it takes too long. The poor decides to have children and saddles “the public” with the problem. The education complex is even more entrenched. And, we’re ¾ of the way down that timeframe and further away from any solution.

Argh!

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