The election results made it abundantly clear that taxes are going to be going up, and right now a lot of wealthy people all over America are trying to figure out how to best position themselves for the hit that is coming. There are a whole host of tax cuts that are set to expire on December 31st, and many analysts are now speculating that we could see a race to dump stocks and other financial assets before 2013 in order to get better tax treatment on those sales. Of course it is still possible that Congress may reach a bargain which would avoid these tax increases, but with each passing day that appears to be increasingly unlikely – especially regarding the tax increases on the wealthy. Whatever you may believe about this politically, the truth is that we should all be able to agree that these looming tax increases provide an incentive for wealthy people to sell off financial assets now rather than later. After all, there are very few people out there that would actually prefer to pay higher taxes on purpose. If the race to dump financial assets becomes a landslide, could this push stocks down significantly late in the year? Already there are all sorts of technical signs that indicate that stocks are ready for a “correction” at the very least. For example, the S&P 500 has already closed below its 200 day moving average for several days in a row. Could the “sell off” that has already begun become a race for the exits? (Read More...)
Share This Massive List Of Post-Election Firings And Layoffs With Everyone You Can
The victory by Barack Obama on election night has resulted in a huge wave of firings and layoffs all over America. A large number of businesses seem to have suddenly shifted into panic mode. The number of layoff announcements that we have seen in the last 48 hours has been absolutely shocking. So why is this happening? Well, the truth is that the federal government is absolutely suffocating small businesses all over America with rules, regulations and taxes. If you have never tried to run a small business, then you have no idea how oppressive this system actually is for people that are trying to run small businesses successfully. It has steadily gotten worse over the years no matter who has been in the White House and no matter who has controlled Congress. So we shouldn’t put 100% of the blame on Obama. Bush massively expanded government and made things harder on small business people too. But what many small business people were looking for on this election day was just a little bit of help. Many were desperately holding out hope that Obamacare would be repealed so that they would not have to get rid of some of their employees. Many were hoping to get a little bit of relief from the crippling regulations and taxes that are absolutely crushing them. But now that Barack Obama has been given another four years, they understand that there is no hope on the horizon and that things are only going to get worse. So they are making the hard decisions that they feel are necessary in order to survive in this economic environment. (Read More...)
The Politicians We Have Chosen Reflect Who We Are As A Nation
The American people have spoken. It is estimated that approximately 6 billion dollars was spent on political campaigns in 2012, and we ended up exactly in the same place that we were before. Barack Obama is still in the White House, the Democrats still have solid control of the U.S. Senate and the Republicans still have solid control of the U.S. House of Representatives. Clearly, the American people want more of the same, and that is really bad news. The path that we have been on will only lead to unprecedented disaster, and now it is abundantly clear that there are not going to be any solutions to our problems on the national level. Not that things would be that much different if we reversed things and gave Republicans control of the White House and the Senate and we gave Democrats control of the U.S. House of Representatives. Over the past several decades, nothing has really seemed to get any better no matter what faces we have sent to Washington. But this time there is really a feeling of “finality” to things. The American people have made their choices, and those choices are going to have consequences. There is no turning back now. The politicians that we have chosen reflect who we are as a nation. It is not just our leaders that have turned their backs on the U.S. Constitution and on the principles that this country was founded upon – the truth is that the majority of the American people have rejected them. We have willingly chosen our destiny, and there are no more excuses. (Read More...)
Thousands Of Shocking Threats Of Violence By Obama Supporters On The Eve Of The Election
On social media websites such as Twitter and Facebook, thousands of threats of violence were posted by supporters of Barack Obama on the evening prior to the election. If you doubt this, just go on Twitter and do a search for keywords such as “Romney riot”, “assassinate Romney” and “if Romney wins”. We have seen very serious threats of violence against Mitt Romney and his supporters for weeks, but little action has been taken to shut these threats of violence down, and now they are reaching a crescendo as we reach election day. At the moment, law enforcement authorities and the mainstream media do not appear to be taking these threats of violence very seriously, but they should. Just look at what happened when the San Francisco Giants won the World Series. Horrible rioting broke out in San Francisco and a city bus was even set on fire. But that little bit of rioting is nothing compared to what could happen on a nationwide basis if Mitt Romney wins this election – especially if there are allegations that Romney stole the campaign. If Romney is victorious, expect to see allegations of “voter fraud” and “election fraud” from the other side. If there is a belief that the Republicans “cheated” (whether true or not), this would provide all of the justification that those out committing violence would need. Many of them would actually consider themselves to be “standing up for democracy” or “fighting for their rights”. Hopefully the scenario that I just outlined will not play out. Hopefully Obama supporters will be calm if Romney is declared the winner. But we would be very foolish to ignore the thousands upon thousands of threats that we have seen over the past few weeks. (Read More...)
Anarchy Along The Jersey Shore And On Long Island In The Aftermath Of Hurricane Sandy
Hurricane Sandy is another reminder of just how incredibly fragile the thin veneer of civilization that we all take for granted on a daily basis really is. Many of the hardest hit areas along the Jersey shore and the coast of Long Island have descended into a state of anarchy. More than 7 million people live on Long Island, and millions more live along the Jersey shore and right now they are getting a taste of what life would be like during a total economic meltdown. At the moment, there are still approximately 4.7 million homes and businesses that do not have power. Officials say that some of those homes and businesses may not have their power restored until the weekend of November 10th and 11th. Meanwhile, it is getting very cold at night. This weekend the low temperatures on Long Island are supposed to dip into the upper thirties. There have been reports of people diving into dumpsters behind supermarkets in a desperate search for food, and there have been other reports of roaming gangs of criminals posing as officials from FEMA or Con Edison and then robbing families at gunpoint once they have gained entrance into their homes. If people will behave like this during a temporary emergency that lasts only a few days, what would they do during a total economic collapse? That is a frightening thing to think about. (Read More...)
Somebody Should Start The ‘Stuff Costs Too Much’ Party
Stuff costs too much. Seriously. Every time I go to the grocery store these days, I am absolutely horrified by the prices. I try not to buy anything that is not on sale, but the problem is that I am discovering that the new sale prices are the old regular prices. So now paying what used to be “full price” is supposedly a “good deal”. The other way that they are trying to hide rising prices is by shrinking package sizes. As if we wouldn’t notice that a box of 21 garbage bags is now being sold for the exact same price that a box of 25 garbage bags used to be sold for. It is one of my pet peeves. I feel like I am in the middle of some bizarre movie entitled “The Incredible Shrinking Dollar”. Sadly, I am far from alone. There are millions upon millions of American families that are seeing their expenses continue to rise even as their paychecks remain the same. But neither Barack Obama nor Mitt Romney seems very concerned about inflation. In fact, the Federal Reserve, QE3 and Ben Bernanke were not even mentioned in any of the three presidential debates. So I think that somebody should start the “Stuff Costs Too Much” Party. Inflation is a tax which is destroying the value of each dollar that we hold a little bit more every single day, and the American people deserve to know the truth about what is going on. (Read More...)
18 Startling Quotes About The Incredible Destruction Caused By Hurricane Sandy
It is hard to put into words the absolute devastation that we are seeing along many areas of the east coast right now. Boats have been washed ashore, homes have been razed, some coastal roads have been essentially destroyed, and large numbers of people are still trapped in their homes by flood waters. It is being reported that more than 50 people are dead and more than 8 million people along the east coast have lost power. Those without power might not get it back for a week or more. In New York City, an all-time record storm surge of almost 14 feet caused incredible destruction. It is going to take months for New York City to recover, and along the Jersey coast things are even worse. Hurricane Sandy really did turn out to be “the worst case scenario” for much of the eastern seaboard. At this point more than 15,000 flights have been cancelled, and nobody knows when subway service in New York City is going to be restored. More than 4 million people a day use that subway system, and right now many of the most important tunnels are absolutely flooded with water. Sadly, this crisis is far from over. The storm formerly known as Hurricane Sandy has moved inland over Pennsylvania where it continues to do a tremendous amount of damage. The full extent of the destruction caused by this storm will probably not be known for weeks. (Read More...)
Worst Case Scenario: Hurricane Sandy Is The Biggest Storm Ever To Hit The Northeast
The biggest storm to ever hit the northeast United States is creating a tremendous amount of havoc up and down the eastern seaboard. It is hard to describe how gigantic this storm actually is. From end to end, Hurricane Sandy is more than 1000 miles across. It is twice the size of the state of Texas, and meteorologists are calling this storm a “worst case scenario“. It is currently coming ashore in New Jersey, but this is just the beginning. A winter storm approaching from the west is going to combine with Hurricane Sandy, and the combined storm is projected to hammer the northeast with wind and rain all the way through the end of the week. Meteorologists all over the nation are saying that they have never seen anything like this. Hurricane Sandy is the biggest storm in modern U.S. history, and earlier today the storm pressure was recorded to be even lower than the Long Island Express Hurricane of 1938. In fact, Hurricane Sandy has the lowest pressure ever recorded for any storm north of the state of North Carolina. On Monday evening it was packing maximum sustained winds of about 90 miles per hour, and hurricane-force winds could be felt as far out as 175 miles from the center of the storm. To say that this storm is a major disaster is a tremendous understatement. (Read More...)