Money & Economics

[mat200]

LOL, even Left Wing CNBC smells a LIE

Something strange has been happening with jobless claims numbers lately

https://www.cnbc.com/2024/04/19/something-strange-has-been-happening-with-jobless-claims-numbers-lately.html

“Initial claims for unemployment insurance are state programs, with 50 state rules, hundreds of offices, and 50 websites to file. Weather, seasonality, holidays, and economic vibrations drive the number of people filing claims from week to week,” he added. “Yet this measure is so stable that it does not vary by even 1,000 applications a week.”

Others chimed in as well.

“Numbers made up,” one participant on the thread opined, while another said, “Someone’s cooking the books.”

From what I have read, more people working multiple jobs .. and less good paying jobs ..

 

[bigredfish]

Yes that's part of it.

The other part is that the BLS is fucking lying their ass off

There is NO Federal government employee that wants to see honest government. They're 100% down to the last fucking clerk, corrupt.

 

[bigredfish]

Biden Calls For Record High 44.6% Capital Gains Tax Rate

Biden Calls For Record High 44.6% Capital Gains Tax Rate | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

President Biden has formally proposed the highest top capital gains tax in over 100 years.

Here is a direct quote from the Biden 2025 budget proposal: “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.”
Yes, you read that correctly: A Biden top capital gains and dividends tax rate of 44.6%.

Under the Biden proposal, the combined federal-state capital gains tax exceeds 50% in many states. California will face a combined federal-state rate of 59%, New Jersey 55.3%, Oregon at 54.5%, Minnesota at 54.4%, and New York state at 53.4%.

Worse, capital gains are not indexed to inflation. So Americans already get stuck paying tax on some “gains” that are not real. It is a tax on inflation, something created by Washington and then taxed by Washington. Biden’s high inflation makes this especially painful.

 

[mat200]

Biden Calls For Record High 44.6% Capital Gains Tax Rate

Biden Calls For Record High 44.6% Capital Gains Tax Rate | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

President Biden has formally proposed the highest top capital gains tax in over 100 years.

Here is a direct quote from the Biden 2025 budget proposal: “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.”
Yes, you read that correctly: A Biden top capital gains and dividends tax rate of 44.6%.

Under the Biden proposal, the combined federal-state capital gains tax exceeds 50% in many states. California will face a combined federal-state rate of 59%, New Jersey 55.3%, Oregon at 54.5%, Minnesota at 54.4%, and New York state at 53.4%.

Worse, capital gains are not indexed to inflation. So Americans already get stuck paying tax on some “gains” that are not real. It is a tax on inflation, something created by Washington and then taxed by Washington. Biden’s high inflation makes this especially painful.

Heard some want to kill Roth iras also

 

[bigredfish]

TIMBER!

 

[bigredfish]

That’s gonna leave a mark…

 

[David L]

What happened to make those Financial Gamblers get scared?

 

[bigredfish]

Q1 GDP cut in 1/2, inflation persistent, fake BLS data, housing and energy costs still climbing,....... rate cuts they've all been counting on looking more and more like "aint gonna happen"

I got it right for once. I had moved 1/2 of our pile out of stonks a few weeks ago and moved the rest out and into stable fund MM funds yesterday!

 

[bigredfish]

LOL, the talking heads are blaming it on Facebook earnings

 

[bigredfish]

Except this guy, who's been there done that and is puckered

"It Feels Like Something Can Break At Any Time"
Former floor trader lays out why he sees yields surging and markets crashing.

"It Feels Like Something Can Break At Any Time" | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[bigredfish]

Stagflation Shock: GDP Stuns With Lowest Print In 2 Years, Below Lowest Estimates, As PCE Comes In Red Hot
Stagflation Shock: GDP Stuns With Lowest Print In 2 Years, Below Lowest Estimates, As PCE Comes In Red Hot | ZeroHedge

 

[bigredfish]

This "Emperor" Has No Clothes | ZeroHedge

Does the Fed even matter that much to the real economy and investor portfolios?

That’s an important question that doesn’t get nearly enough scrutiny. It’s possible that neither the Fed nor the reporters who cover the Fed want to ask hard questions about what the Fed really does.
Could it be the case that the emperor has no clothes?




'Stagflationary' GDP Data Sparks Market Turmoil, Rate-Cut Hopes Crushed | ZeroHedge

Initial & Continuing Jobless Claims Continue To Ignore Reality | ZeroHedge


I think they will push this hard next year if the communists get "re-elected". In which case we're fucked. They kinda have to if you look at it through their eyes. Allowing the current fiat to implode, which its on its way towards, would mean they all have to go get real jobs.
Cashless Society: WEF Boasts That 98% Of Central Banks Are Adopting CBDCs | ZeroHedge

 

[David L]

I check the YTD periodically throughout the year. Kind a gives me an idea of what would of happened with my money had I had in the Market.



This will possibly drop to almost Zero after today's close...

 

[bigredfish]

Yeah, at my age I'll take guaranteed safe 4%-5% CDs and MM accounts all day long.

I do have some with a JPM brokerage account, but its in a fixed income very conservative fund and really not exposed to stonks. While not as guaranteed as a CD, its pretty darn safe. I told the broker the minute I see a negative week print it all comes out and goes into a 4.75% CD on the Chase Bank side. (They hate that

 

[bigredfish]

And really, it wouldnt matter if the market showed up 12% or 15%. People dont realize how quickly that can change and how long it takes to make up losses. I recall my wife's old boss boasting in 2017 I think how much he'd made in the market the preceding 5 years.

I told her to ask him how much of a loss did he take in 2008-2010 and if he was back to even yet?

 

[mat200]

TIMBER!


View attachment 193186

Good finally hitting those inflated stock prices !!

I mean the stock market has gotten very high in terms of P/E ..

 

[David L]

And really, it wouldnt matter if the market showed up 12% or 15%. People dont realize how quickly that can change and how long it takes to make up losses. I recall my wife's old boss boasting in 2017 I think how much he'd made in the market the preceding 5 years.

I told her to ask him how much of a loss did he take in 2008-2010 and if he was back to even yet?

The DOW YTD in 2008

 

[bigredfish]

Well it recovered 1/2 today. Funny what $70 Billion in buybacks from google alone can do

I read an article a few days ago about how if you were to not count company buybacks of their own stock, the market would be underwater....

 

[mat200]

Well it recovered 1/2 today. Funny what $70 Billion in buybacks from google alone can do

I read an article a few days ago about how if you were to not count company buybacks of their own stock, the market would be underwater....

Shhhh ... Hillary may hear us ...

Hmm .. guess all those billions into usa defense companies will help the gdp bottom line ..

 

[David L]