<< <i>Have never seen this type of hopelessness DerryB. I am sure that the 1930's were much worse, but in my 50 years of observation, many folks now really seem to be at a dead end. >>
Many folks, not all, are equally responsible for their own hopelessness by becoming enslaved to debt. I have a hard headed son who's current mortgage is at least twice what he originally paid for the house. His ATM has now dried up, but unfortunately he's still got the higher monthly payment. Just think about all those you know who have fallen into the perpetual debt trap. Our own leaders are at the front of the pack. >>
Seems that we were all better off though when medical care was 5% of GDP and not 20%. Now a perpetual game of musical chairs where all the chairs are gone.
The average as well as the national debt burden has me concerned (and yes, I blame both parties...or rather that distinctly useless animal, the politician), but not as much as the attitude of most people I run into. Everyone wants everything now...forget about working for it. In my case, before we left New Jersey (and $11,000/yr in property taxes!!) for Arizona (no property taxes yet...but most houses burdens are less than $1,500/yr!), we managed to sell our home and pay off all debts.
I started my business with $$ from the proceeds of our house in NJ...buying used machines (about 5 yrs old, but not really any miles/hours). It was tough to get anyone to rent quads, and I even have a pristine location (Crown King). It wasn't until I bought the latest and greatest units that I started to have decent months rentals. No one wants to enjoy the outdoors on old equipment...they want the best. So, now I'm not only trying to run a business that may not be a sustainable moneymaker, but I also am back in debt trying to meet the demands of my customers.
Maybe a poor analogy, but I think we've been conditioned to want the greatest and the best, yet we continue to make cheaper and flimsier goods, which forces us to buy each year's "latest and greatest." Marketing is out to lunch...creating that need/desire/greed/gimmee-tudes.
It ain't gonna get better until we throw out the whole system and start over. Or go back to what my grandpa's generation followed, They got their things the old fashion way: They earned them.
the revised data has opened a lot of eyes to not only the flaws in what Washington originally reports (+.1% vs. revised -2.9%) but also to just how fragile our economy really is. Should boost PM demand.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Seems that we were all better off though when medical care was 5% of GDP and not 20%
Ah, the joys of an aging population. Gotta be someway we can blame Bernanke on this.
If everyone stopped paying their insurance premiums then health care costs would plummet. >>
With the aging population it will most likely pop to 25%. Nice if people would quit smoking and drop 10 or 75 pounds. Why bother though when the doc can save them and their neighbor can cover the tab.
Bernanke had a very difficult job. Cannot pin toxic government spending on his shoulders.
I think the most important lesson to be learned from the Great Recession is that the rest of the world can't do a thing about us printing more money. We are too big to fail. Plus, they all want to print more too.
Of course it will all fall apart someday but I have been expecting that for about 35 years. Really quite impressive that it has gone on this long.
As far as unemployment goes, if I was young and needing a job I would head for N. Dakota. Our latest oil boom is one of the things holding it together for now.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>Of course it will all fall apart someday but I have been expecting that for about 35 years. Really quite impressive that it has gone on this long. >>
Kind of falling apart in slow motion. We have an elite 1/10%. A well off 1%. 20% that are doing pretty well and 79% that have become a homogenized economic blob.
<< <i>Of course it will all fall apart someday but I have been expecting that for about 35 years. Really quite impressive that it has gone on this long. >>
Kind of falling apart in slow motion. We have an elite 1/10%. A well off 1%. 20% that are doing pretty well and 79% that have become a homogenized economic blob. >>
It that really much different than in 1900, or 1800?
<< <i>It that really much different than in 1900, or 1800? >>
In the regard that autos and computers and mobile phones did not exist (barely on the cars) in 1900, you are correct.
Difference today is the middle class is supporting the low and non income worker. Income taxes did not kick in until a bit later in the century and was a small percentage on the highest earners. If you earned $10 in 1900, that is what you put in your pocket.
Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money. >>
The required minimum distributions have been part of the law since the get go. Never a hidden agenda, just making sure they get their taxes.
Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
<< <i>Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money. >>
The required minimum distributions have been part of the law sonce the get go. Never a hiiden agenda, just making sure they get their taxes. >>
Correct, nothing sinister. Applies to regular IRAs only (and not ROTHs) since the deposits were tax deferred (not counted as income if deposited in the regular IRA). "Pay me now, or pay me later."
<< <i>So in 1900 if you had no income you just died? Is there anything wrong with going back to those times? >>
Might well be the cure for laziness and dependency. The working man/woman would sure see a boost in the portion of the paycheck that comes home with him/her.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>The IRA rule has been in existance since the beginning of IRAs. It is not new.
So in 1900 if you had no income you just died? Is there anything wrong with going back to those times? >>
Not possible to return to those times as 1900 and 2000 are in the rearview mirror. Reasonable assistance to those that need it has become free housing, free groceries and free medical care....at least for the recipient. Almost forgot the free mobile phone.
Federal disability insurance has become a career choice for too many that are capable, but unwilling to work.
Problem for the working schmuck is that if he runs into trouble, especially if self employed, he is left on the side of the road. Those that have confiscated his hard earned dollars to give away to the slovenly, laugh in his face.
<< <i>Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money. >>
The required minimum distributions have been part of the law sonce the get go. Never a hiiden agenda, just making sure they get their taxes. >>
When my mother was 70 it is likely she would not know she had to withdraw a certain amount each year, and half is a pretty stiff tax for someone in the lower brackets.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money. >>
The required minimum distributions have been part of the law sonce the get go. Never a hiiden agenda, just making sure they get their taxes. >>
When my mother was 70 it is likely she would not know she had to withdraw a certain amount each year, and half is a pretty stiff tax for someone in the lower brackets. >>
The price you pay when you "defer" your taxes and then don't pay them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"When my mother was 70 it is likely she would not know she had to withdraw a certain amount each year, and half is a pretty stiff tax for someone in the lower brackets. >>
The price you pay when you "defer" your taxes and then don't pay them."
Agreed. It has always been the law. She should have know this. Not knowing the law is no excuse and it is no one else's fault. I think someone once said that the only sure things in life are death and taxes.
Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
<< <i>I refuse to believe ANY numbers that stem from government sources...including vote tallies. >>
Was 9/11 a conspiracy? If Romney had won, would you believe the government vote counts? What if he won in a landslide as Dick Morris predicted? Then would you buy the numbers? I think had republicans won every election you would believe the results.
Comments
<< <i>
<< <i>Have never seen this type of hopelessness DerryB. I am sure that the 1930's were much worse, but in my 50 years of observation, many folks now really seem to be at a dead end. >>
Many folks, not all, are equally responsible for their own hopelessness by becoming enslaved to debt. I have a hard headed son who's current mortgage is at least twice what he originally paid for the house. His ATM has now dried up, but unfortunately he's still got the higher monthly payment. Just think about all those you know who have fallen into the perpetual debt trap. Our own leaders are at the front of the pack. >>
Seems that we were all better off though when medical care was 5% of GDP and not 20%. Now a perpetual game of musical chairs where all the chairs are gone.
I started my business with $$ from the proceeds of our house in NJ...buying used machines (about 5 yrs old, but not really any miles/hours). It was tough to get anyone to rent quads, and I even have a pristine location (Crown King). It wasn't until I bought the latest and greatest units that I started to have decent months rentals. No one wants to enjoy the outdoors on old equipment...they want the best. So, now I'm not only trying to run a business that may not be a sustainable moneymaker, but I also am back in debt trying to meet the demands of my customers.
Maybe a poor analogy, but I think we've been conditioned to want the greatest and the best, yet we continue to make cheaper and flimsier goods, which forces us to buy each year's "latest and greatest." Marketing is out to lunch...creating that need/desire/greed/gimmee-tudes.
It ain't gonna get better until we throw out the whole system and start over. Or go back to what my grandpa's generation followed, They got their things the old fashion way: They earned them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Ah, the joys of an aging population. Gotta be someway we can blame Bernanke on this.
If everyone stopped paying their insurance premiums then health care costs would plummet.
Knowledge is the enemy of fear
<< <i>Seems that we were all better off though when medical care was 5% of GDP and not 20%
Ah, the joys of an aging population. Gotta be someway we can blame Bernanke on this.
If everyone stopped paying their insurance premiums then health care costs would plummet. >>
With the aging population it will most likely pop to 25%. Nice if people would quit smoking and drop 10 or 75 pounds. Why bother though when the doc can save them and their neighbor can cover the tab.
Bernanke had a very difficult job. Cannot pin toxic government spending on his shoulders.
Of course it will all fall apart someday but I have been expecting that for about 35 years. Really quite impressive that it has gone on this long.
As far as unemployment goes, if I was young and needing a job I would head for N. Dakota. Our latest oil boom is one of the things holding it together for now.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>Of course it will all fall apart someday but I have been expecting that for about 35 years. Really quite impressive that it has gone on this long. >>
Kind of falling apart in slow motion. We have an elite 1/10%. A well off 1%. 20% that are doing pretty well and 79% that have become a homogenized economic blob.
<< <i>
<< <i>Of course it will all fall apart someday but I have been expecting that for about 35 years. Really quite impressive that it has gone on this long. >>
Kind of falling apart in slow motion. We have an elite 1/10%. A well off 1%. 20% that are doing pretty well and 79% that have become a homogenized economic blob. >>
It that really much different than in 1900, or 1800?
Knowledge is the enemy of fear
<< <i>It that really much different than in 1900, or 1800? >>
In the regard that autos and computers and mobile phones did not exist (barely on the cars) in 1900, you are correct.
Difference today is the middle class is supporting the low and non income worker. Income taxes did not kick in until a bit later in the century and was a small percentage on the highest earners. If you earned $10 in 1900, that is what you put in your pocket.
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money. >>
The required minimum distributions have been part of the law since the get go. Never a hidden agenda, just making sure they get their taxes.
So in 1900 if you had no income you just died? Is there anything wrong with going back to those times?
Knowledge is the enemy of fear
Yeah, but now we have those wonderful entitlements of Social Security and Medicare/Medicade that we now must fund.t
<< <i>
<< <i>Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money. >>
The required minimum distributions have been part of the law sonce the get go. Never a hiiden agenda, just making sure they get their taxes. >>
Correct, nothing sinister. Applies to regular IRAs only (and not ROTHs) since the deposits were tax deferred (not counted as income if deposited in the regular IRA). "Pay me now, or pay me later."
<< <i>So in 1900 if you had no income you just died? Is there anything wrong with going back to those times? >>
Might well be the cure for laziness and dependency. The working man/woman would sure see a boost in the portion of the paycheck that comes home with him/her.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>The IRA rule has been in existance since the beginning of IRAs. It is not new.
So in 1900 if you had no income you just died? Is there anything wrong with going back to those times? >>
Not possible to return to those times as 1900 and 2000 are in the rearview mirror. Reasonable assistance to those that need it has become free housing, free groceries and free medical care....at least for the recipient. Almost forgot the free mobile phone.
Federal disability insurance has become a career choice for too many that are capable, but unwilling to work.
Problem for the working schmuck is that if he runs into trouble, especially if self employed, he is left on the side of the road. Those that have confiscated his hard earned dollars to give away to the slovenly, laugh in his face.
<< <i>
<< <i>Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money. >>
The required minimum distributions have been part of the law sonce the get go. Never a hiiden agenda, just making sure they get their taxes. >>
When my mother was 70 it is likely she would not know she had to withdraw a certain amount each year, and half is a pretty stiff tax for someone in the lower brackets.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>
<< <i>
<< <i>Here's a little something just to really get you mad. Wifey was reading up on IRAs and found this delicious little nugget. At a certain age, I think it was 70-1/2, you are to take out a certain amount yearly from your IRA. If you do not the government CONFISCATES HALF THE AMOUNT. Hey, you are not spending your money, that means we take it!
So, here you are old and maybe getting a little forgetful but they just gotta steal a little bit more from you.
It's only money. >>
The required minimum distributions have been part of the law sonce the get go. Never a hiiden agenda, just making sure they get their taxes. >>
When my mother was 70 it is likely she would not know she had to withdraw a certain amount each year, and half is a pretty stiff tax for someone in the lower brackets. >>
The price you pay when you "defer" your taxes and then don't pay them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
The price you pay when you "defer" your taxes and then don't pay them."
Agreed. It has always been the law. She should have know this.
Not knowing the law is no excuse and it is no one else's fault.
I think someone once said that the only sure things in life are death and taxes.
<< <i>I refuse to believe ANY numbers that stem from government sources...including vote tallies. >>
Was 9/11 a conspiracy? If Romney had won, would you believe the government vote counts? What if he won in a landslide as Dick Morris predicted? Then would you buy the numbers? I think had republicans won every election you would believe the results.
<< <i>I think had republicans won every election you would believe the results. >>
Hell, I don't even believe that Romney was a Republican.