9 Out of 10 Mortgages Have Sub-5% Rate
For most our homes are our largest asset. It’s no wonder that as values rise and cheap financing abounds consumers continue to spend spend spend. Where’s that recession we were promised?!
But You Promised Me a Recession
In Dec 2022 a Wall Street Journal survey found economists thought there was a 63% chance of a recession. Furthermore a survey of economists and investors by the Federal Reserve Bank of Philadelphia showed expectations that GDP would fall in the next three or four quarters. How’s that working out? Simply because economists were convinced [...]
Ukraine, Russia and Financial Markets
Oil is up. Everything else is down. I need to do something. What do I do? Here is a good place to start.
Where The Feds Can(‘t) Spend Money – 1965 v 2021
A deep dive into the OMB’s Historical Tables shows some interesting changes in federal mandatory v. discretionary spending when comparing 1965 to today: Mandatory spending has more than doubled. Social Security and Medicare are the drivers. Defense spending has been reduced by about 75%. The Bush/Thatcher peace dividend? Discretionary spending currently stands at a paltry [...]
61% of U.S. Households Paid NO Income Tax in 2020
According to data from the Urban-Brookings Tax Policy Center nearly 61% of U.S. households paid no federal income taxes during 2020. That’s 106.8 million households – wow! And it’s the “evil” millionaires and billionaires who aren’t paying their fair share? C’mon!
Biden’s Free Means Soaking Taxpayers and Burning Cash
Last night the Spender in Chief a.k.a. Healer Joe (we are healed now, right?) laid out in broad strokes an agenda to spend $1.8 trillion on what he’s calling the American Families Plan. He wrapped it in terms that sound soothing – “making care affordable, free education, universal pre-school” and “investing in the care workforce.” [...]
A Better Wealth Inequality Solution
President Obama (The Orator in Chief) never turned down an opportunity to stand in front of a microphone. He was fond of demonizing evil millionaires and billionaires from behind a podium. He seemed to believe that rather than building businesses and creating jobs these people sat home twirling their evil mustaches and conjuring ways to [...]
Historical Stock Market Returns Under Democratic White House and Congress
Concerned about stock market performance if Joe Biden wins the White House and the Democrats take a majority in the House and Senate? History suggests maybe you shouldn’t be. Dating back to 1951 there have been eighteen years in which the Democrats controlled the legislative branch. in fifteen of those eighteen years (83.3% of the [...]
IRS Announces 2021 401(k) and Other Inflation Adjustments
Notice 2020-79 issued yesterday by the IRS covers the inflation adjustments for items such as 401(k) contribution limits, deductible IRAs, the saver’s credit, etc. Full details are available here.