http://www.edelmanfinancial.com/galleries/default-file/ipf_12_09.pdf
Ric Edelman in “The Roth IRA Conversion Conundrum” points out while you CAN convert your IRA to a ROTH. Unless the circumstances are just right, you shouldn’t. Why all the BUZZ about doing it? Well guess who makes out if you do it? Yup, the brokers and the gooferment! Paying taxes when it is not needed or wrong is always disastrous
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Leave a Comment » | 
MONEY | Tagged: Economics, Tax, Taxes | 
Permalink
Posted by reinkefj
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100002059/is-6300-fair-value-for-gold/
Is $6,300 fair value for gold?
By Ambrose Evans-Pritchard Economics Last updated: November 19th, 2009
*** begin quote ***
He sees an eery similarity between the decision of India’s central bank to buy half the IMF’s entire sale of gold, and the move by France’s central bank to start converting dollars into gold in 1965 — which was, of course, the start of the slippery slope leading to the collapse of Bretton Woods and the closure of the US gold window under Nixon.
In the gold mania that followed, the price rose to levels that matched the US dollar monetary base (it reached 140pc at the peak). If that were to occur today after Ben Bernanke’s go at the printing press, gold would have to reach $6,300 an ounce. The US owns 263m ounces of gold while the Fed’s monetary base is $1.7 trillion. Simple equation.
*** end quote ***
Wow!
This portends a very difficult time for the USA.
Gas = 3 $ / gallon ~ 0.0026 oz gold @ 1,150 $ / oz
0.0026 oz * 6,300 $ / oz = Gas 16.43 $ / gallon
At 16.43 $ / gallon, the economy stops. (Pundits have said the stop point is less than $10 / gallon.)
Argh!
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Leave a Comment » | GOLDBUG | Tagged: Economics | Permalink
Posted by reinkefj
http://feedproxy.google.com/~r/Cato-at-liberty/~3/OMyfED4MxVw/
Government Mail Loses $3.8 Billion
from Cato @ Liberty by Tad DeHaven
*** begin quote ***
The U.S. Postal Service reported that it lost $3.8 billion last fiscal year and that it expects to lose $7.8 billion this year. The loss occurred despite cost-cutting measures and legislation that allowed the USPS to forgo $4 billion in required payments to pre-fund retiree health benefits.
*** end quote ***
SO the USPS “lost” 11.8B$?
So how do we “kill” the USPS?
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Leave a Comment » | Ranting | Tagged: Economics | Permalink
Posted by reinkefj
http://www.keywestlou.com/2009/11/good-morning-world-up-and-at-em-its.html
My Life in Key West
Tuesday, November 10, 2009
*** begin quote ***
The economic failures of 2008 can be laid largely at their doorstep.
*** end quote ***
No, I respectfully disagree. The failure is entirely do to the congress critters. imho!
CRA, and the corruption of campaign contributions is the proximate cause.
Going back a little, the FED’s creation in 1913 and FDR’s taking us off the gold standard allowed the expansion of the Federal Gooferment without any constraint. What we are seeing now is the same as the coin shaving of the various Louis’s of France.
(I saw an exhibit of the French Fran in the Smithsonian in the 1970’s that brought it into focus. The first franc was a hockey puck of gold; the last one a thin shirt collar button.)
Moral of the story: the bankers and their supposed “regulators” are the creation of and puppets of the congress critters. They should be in jail. And we all should have our heads examined for letting them to get away with it!
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Leave a Comment » | Political | Tagged: economic freedom, Economics | Permalink
Posted by reinkefj
http://finance.yahoo.com/news/Freddie-Mac-posts-5-billion-rb-3083454207.html?x=0&.v=3
Freddie Mac posts $5 billion loss
* On 7:00 pm EST, Friday November 6, 2009
By Al Yoon
*** begin quote ***
NEW YORK (Reuters) – Freddie Mac (NYSE:FRE – News; NYSE:FRE – News), the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a “prolonged deterioration” in housing.
*** end quote ***
Well, isn’t that just great!
If it was a real business, we could just let it go to bankruptcy court.
Another “gooferment sponsored entity” that’s a rat hole for the taxpayer to pump more money into.
I’m sure the congress critters will certainly give them more money we don’t have.
Argh!
And, what’s the impact on the country, the taxpayers, and the people.
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Leave a Comment » | GOVEROTRAGEOUS | Tagged: economic freedom, Economics, Gooferment | Permalink
Posted by reinkefj
http://www.wnd.com/index.php?fa=PAGE.view&pageId=114936
The truth about journalists’ bias
Posted: November 04, 2009
John Stossel is a longtime award-winning broadcast journalist who joins Fox News Oct. 19. He’s the author of “Give Me a Break” and of “Myth, Lies, and Downright Stupidity.”
*** begin quote ***
It is odd that this is a news story. In August, AFP hired me to do the very same thing. I give the money to charity. The Times didn’t call that “shameful.”
*** end quote ***
Anyone with eyes can see the bias.
I’m hoping that Fox turns Stossel loose!
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Leave a Comment » | Political | Tagged: Economics | Permalink
Posted by reinkefj
http://www.bargaineering.com/articles/your-take-are-we-out-of-the-recession.html/
Your Take: Are We Out Of The Recession?
by Jim Wang
*** begin quote ***
Yesterday, the Department of Commerce reported that the annualized GDP (gross domestic product) grew to 3.5% in third quarter. This is significant because, by definition, a recession is two straight quarters of shrinking GDP. A 3.5% increase in GDP would mean, at least technically, the recession was over. Four straight quarters of negative GDP growth, the worst of which was the first quarter of 2009 (-6.4%), has finally come to an end.
Hooray! Right?
*** end quote ***
I’d point out that the weak dollar should influence our judgments. If the stock market goes up 50% but the dollar goes down 50% versus gold, the Euro, or some other “standard”, then did the market go up at all? Like fish in a tank, we can’t sense anything but water. Bad metaphor, can’t think of a good one. It’s like a football team gaining ground but the “year” gets redefined as the game proceeds. IT feels like we are losing ground on a “financial treadmill”. AND, give the gooferment’s tendency to make stuff up (i.e., jobs “saved” or “created”), especially if it’s a nebulously defined concept, I’m cynical about being “out of the recession”. The Titanic had its ice deliver but didn’t sink right away. Maybe we’re seeing the same thing. All that printing press money has to come home to roost.
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Leave a Comment » | MONEY | Tagged: Economics | Permalink
Posted by reinkefj
http://www.breitbart.com/article.php?id=CNG.314f8f63df41800c448cd89e0a88dd31.331&show_article=1
Japanese firms to develop small nuclear reactors
Oct 24 01:08 AM US/Eastern
*** begin quote ***
Japan’s major nuclear reactor manufacturers have begun developing small nuclear power systems for both developed and emerging countries, a report said on Saturday.
Toshiba Corp. is developing an ultra-compact reactor with an output of about 10,000 kilowatts and has started procedures for approval in the United States, the Nikkei business daily said.
The new reactor, the Toshiba 4S, is designed to minimise the need for monitoring and maintenance, with an automatic shutdown function to ensure safety in case of problems, the newspaper said.
Toshiba plans to market the reactor first in the United States, while foreseeing demand from emerging countries in Southeast Asia and Eastern Europe as well as in Africa, it said.
*** end quote ***
For America’s “lost generation” of nuke engineers, I’m sure the approval of this will really put a knot in their shorts.
At one time, America “owned” the nuclear engineering niche.
France gets 80% of its power from nukes; we get near zero.
Argh!
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Leave a Comment » | Technology | Tagged: Economics, Foreign Exchange | Permalink
Posted by reinkefj
http://www.freep.com/article/20091028/BUSINESS01/91028022/1322/GMAC-may-get-3rd-helping-of-aid
Posted: 8:40 a.m. Oct. 28, 2009 | Updated: 9:51 a.m. today
GMAC may get 3rd helping of aid
BY GREG GARDNER
FREE PRESS BUSINESS WRITER
*** begin quote ***
GMAC, the financial lifeline for General Motors Co., Chrysler Group LLC and their dealer networks, is asking the U.S. Treasury for more federal aid beyond the $12.5 billion it’s already received, because it remains billions of dollars short of a capital reserve requirement all bank holding companies must meet.
The request, which is subject to ongoing negotiations, comes as GMAC is caught in a financial game of chicken with Chrysler Financial that could drive some large Chrysler, Jeep and Dodge dealers out of business or force them to sell their operations.
*** end quote ***
More taxpayer participation required!
Argh!
More good money after bad.
Bankruptcy would have been so much cleaner.
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Leave a Comment » | SOCIALISM | Tagged: economic freedom, Economics, Gooferment, SOCIALISM | Permalink
Posted by reinkefj
Wall Street Journal
Tuesday 20 Oct 09
Page A1 and A18
(behind a paywall)
Has an article about selling things to the poor at prices they can afford.
Here’s two of the products.
http://www.instructables.com/community/Oorja-Stove-taking-off-in-India/ $28
http://www.naaptol.com/brands/WO-Brands-W77O-Brands-shopping-W139O/Godrej/Refrigerators.html $70
“Marketing ice to eskimos”?
Here are companies making stuff for poor people.
Since we in the good old US of A are poor, (just look at the dollar), maybe someone should be doing this here?
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Leave a Comment » | Technology | Tagged: DOWNSIZING, Economics | Permalink
Posted by reinkefj
-
-
FJohn Reinke
Consultant at Technology Legacies LLC
Advisor, Computer Governance Committee at Manhattan College
Editor / Publisher at Jasper Jottings
Greater New York City Area
JJ Positraction JJ Endnotes Downsize DC
Philosophy of Liberty
I have NOT received any gagged governmental information requests
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