Stock market on fire

[Barefootdog]

I guess it's time for folks to pull there boots on and go to work.
Free ride is over

Are you kidding?....child care tax credit monthly checks starting to go out tomorrow......

New 3.5 trillion spending package from the Dems today.

The "free" everything binge is alive and well.

More IRS agents being hired to find people to pay for all the "free" giveaways.


Have to say , between real estate and Dow Jones, it's been a good ride the past couple of years.

 

[ma96782]

Maybe we will see bigger price moves soon? Nah.

Why AMMO Tumbled 14.5% This Week | The Motley Fool

The market is focusing on the wrong industry data.

www.fool.com

But there is no loss in holding onto HOPE.


Aloha, Mark

PS......

Ammo Inc. Builds Factory To Feed America’s Insatiable Demand

A new ammunition factory from an upstart U.S. manufacturer is a ray of sunshine for gun enthusiasts, who have been scouring gun stores for ammunition and finding bare shelves, especially for popular calibers like .22 for target shooting, 9mm for pistols and .223 for AR-15s.

www.forbes.com

https://www.idahostatesman.com/outdoors/article252716043.html

 

[CountryGent]

Ouch. From Forbes: Stock Market Sell-Off: Dow Plunges 700 Points In Worst Drop Since October As Delta Variant Fears Mount

 

[sobo]

Dow Plunges 700 Points In Worst Drop Since October As Delta Variant Fears Mount

 

[The Heretic]

So since Jun 1, my IRA has been up and down, and overall I have not made any gains in the last 60 days.

YTD, about 9% return, which is good, even if it is flat for the rest of the year, but I would like to see more growth of course.

 

[sobo]

YTD, about 9% return, which is good, even if it is flat for the rest of the year, but I would like to see more growth of course.

Seems about right. I'm at +9.4% YTD as well.

 

[The Heretic]

Household debt jumps by the most in 14 years to nearly $15 trillion in the second quarter

Household debt rose by its highest dollar amount in 14 years during the second quarter, thanks mostly to a surge in the housing market.

www.cnbc.com

 

[The Heretic]

Analysis: A new trend to watch in the housing market and some good news on Covid

The American Dream of home ownership may be slipping out of reach for adults coming of age in and around the Great Recession and starting families in and around the pandemic. But that dream may still be for rent.

www.cnn.com

 

[USMC1911]

Mom has a house going on the market Thursday.
Desirable location and layout. I will report back what she gets out of it.

 

[The Heretic]

The market started on a dip this morning but soon recovered. I am now at a personal high, but the question is whether it will keep growing on average over the rest of the year, flatten out, or dip? September is coming up and it has a history of not doing well on average.

 

[ma96782]

Iran is playing games again. Keep an eye on the oil markets.

Britain tells UN 'highly likely' Iran behind deadly tanker attack

NEW YORK (Reuters) -Britain, Romania and Liberia told the United Nations Security Council on Tuesday that it was "highly likely" that Iran used one or more drones to carry out a deadly tanker attack last week off the coast of Oman. "This attack disrupted and posed a risk to the safety and...

www.yahoo.com

Iran Ready To Deliver "Crushing" Military Response After Tanker Attack

Iran on Sunday issued a formal denial that it was behind the major Thursday night drone attack on the Mercer Street oil tanker off Oman

news.yahoo.com

'They can't sit calmly in Tehran': Israel vows to retaliate against Iran if US won’t

Israel will retaliate against an alleged Iranian attack on an oil tanker in the Arabian Sea — and unilaterally, if need be, according to Israeli Prime Minister Naftali Bennett.

www.yahoo.com

Iran ‘hijacks’ oil tanker in Gulf of Oman

Iranian-backed forces were suspected of seizing an oil tanker in the Gulf of Oman on Tuesday night, just days after Iran was blamed for a drone attack on another tanker that killed a British crew member.

news.yahoo.com

Aloha, Mark

PS....thank you Pres. BIDEN. For having such a forward looking oil policy.

 

[Mikej]

PS....thank you Pres. BIDEN. For having such a forward looking oil policy.

"Forward Looking"? President Biden doesn't know who is in the mirror, for hells sake!

 

[ma96782]

Start your viewing at about 3:20

Aloha, Mark

 

[USMC1911]

Mom has a house going on the market Thursday.
Desirable location and layout. I will report back what she gets out of it.

So house went on the market yesterday for $495k and mom took a no contingency, cash offer of $520k with only two people to have looked at it. No open house or anything.

 

[The Heretic]

Ultrawealthy Americans are ditching their US citizenship in droves

With tax hikes maybe on the way for America's ultrawealthy, many of them don't want to stick around to see them, Axios reported.

news.yahoo.com

 

[sobo]

Ultrawealthy Americans are ditching their US citizenship in droves

With tax hikes maybe on the way for America's ultrawealthy, many of them don't want to stick around to see them, Axios reported.

news.yahoo.com

Coulda seen that one comin'...

 

[ma96782]

Ultrawealthy Americans are ditching their US citizenship in droves

With tax hikes maybe on the way for America's ultrawealthy, many of them don't want to stick around to see them, Axios reported.

news.yahoo.com

Someone is probably saying to themselves.......
Isn't it nice to be a Bitcoin millionaire (or billionaire)?

Yeah, I made money while working in America. Took advantage of all that America had to offer me. I was smart and invested. Showed no taxable gains. I was only showing my income as required under law.

So....
Now that I'm rich.....I'll just move to ______ and never pay any taxes to the USA. I doubt that my new country will ever find out what I actually have. Or maybe.....even if I decide to tell them..... it'll all be taxed at a lower rate.

Aloha, Mark

PS.....and you can bet that there are a lot more other strategies that the ultra-rich use besides just Bitcoin.

Although not Bitcoin.....consider these investors. The idea is the same as with Bitcoin investing.

IRS and paying your "fair share" of taxes.....
Really, that is IF the transactions were all reported.

Yeah......I can remember that my H&R Block tax preparer asked if I did any transactions (crypto transactions) within the tax year.

How hard is it to......

Just say, NO.

But also, note the "cold wallet". Refer to the video at 00:50

BTW....do you think that some people are NOT paying their rent or repaying their Student Debt......and instead, have taken to investing in crypto? Rrrrrright.....GO BIG or GO HOME. It's not like anyone in America goes to prison because of bankruptcy.

 

[The Heretic]

Given what taxes are used for (30%+ goes to social programs) and given that the avoidance of taxes by the "wealthy" is legal, I don't have a problem with someone taking advantage of tax "loopholes". I do it myself (deduct property taxes and mortgage interest, among other things).

My point in posting about the wealthy leaving the USA and giving up their citizenship to avoid upcoming tax rate increases by the left, is to point out what tax increases do - they drive away wealth and investment. I mentioned this prior to my post; that when we allowed corporations to bring back $ from overseas - with reduced taxes on those $ - the $ came back (but they did not increase capital investment, they increased stock buy back instead - which is what critics said would happen).

 

[sobo]

Given what taxes are used for (30%+ goes to social programs) and given that the avoidance of taxes by the "wealthy" is legal, I don't have a problem with someone taking advantage of tax "loopholes". I do it myself (deduct property taxes and mortgage interest, among other things).

My point in posting about the wealthy leaving the USA and giving up their citizenship to avoid upcoming tax rate increases by the left, is to point out what tax increases do - they drive away wealth and investment. I mentioned this prior to my post; that when we allowed corporations to bring back $ from overseas - with reduced taxes on those $ - the $ came back (but they did not increase capital investment, they increased stock buy back instead - which is what critics said would happen).

^^^ THIS!!! ^^^

This is what Tax & Spenders don't realize (or refuse to accept) is the logical outcome of Taxing & Spending.

 

[The Heretic]

Now with all the talk about taxing corporations again, they will move the $ back out of the country. With the talk of a global tax, the funds will go to whatever countries don't sign onto that. E.G., Liechtenstein, Cayman Islands, Luxembourg.