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5 Urgent Questions for 2013

Martin D. Weiss, Ph.D. at Money and Markets has five significant questions and you should be reading his answers to protect your assets:

Question #1
The U.S. debt crisis is not new; we’ve had one ever since I can remember. When will it reach critical mass?

Question #2
How do we know the debt crisis is truly blowing up?

Question #3
When will the debt crisis cease to be just a political battle? In other words, when will it turn into a flesh-and-blood disaster with a direct impact on our daily lives?

Question #4
Will we ultimately wind up with hyperinflation and an ugly dictatorship much as Germany did after World War I?

Question #5
Sometimes, it seems this debt crisis leads down the path of hyperinflation. Sometimes, it seems to imply deflation. So which should we act on?

England Warns America: Don’t Let Them Take Your Guns

“The Passing of the Year”

The Passing of the Year
by Robert W. Service

My glass is filled, my pipe is lit,
My den is all a cosy glow;
And snug before the fire I sit,
And wait to feel the old year go.
I dedicate to solemn thought
Amid my too-unthinking days,
This sober moment, sadly fraught
With much of blame, with little praise.

Old Year! upon the Stage of Time
You stand to bow your last adieu;
A moment, and the prompter’s chime
Will ring the curtain down on you.
Your mien is sad, your step is slow;
You falter as a Sage in pain;
Yet turn, Old Year, before you go,
And face your audience again.

That sphinx-like face, remote, austere,
Let us all read, whate’er the cost:
O Maiden! why that bitter tear?
Is it for dear one you have lost?
Is it for fond illusion gone?
For trusted lover proved untrue?
O sweet girl-face, so sad, so wan
What hath the Old Year meant to you?

And you, O neighbour on my right
So sleek, so prosperously clad!
What see you in that aged wight
That makes your smile so gay and glad?
What opportunity unmissed?
What golden gain, what pride of place?
What splendid hope? O Optimist!
What read you in that withered face?

And You, deep shrinking in the gloom,
What find you in that filmy gaze?
What menace of a tragic doom?
What dark, condemning yesterdays?
What urge to crime, what evil done?
What cold, confronting shape of fear?
O haggard, haunted, hidden One
What see you in the dying year?

And so from face to face I flit,
The countless eyes that stare and stare;
Some are with approbation lit,
And some are shadowed with despair.
Some show a smile and some a frown;
Some joy and hope, some pain and woe:
Enough! Oh, ring the curtain down!
Old weary year! it’s time to go.

My pipe is out, my glass is dry;
My fire is almost ashes too;
But once again, before you go,
And I prepare to meet the New:
Old Year! a parting word that’s true,
For we’ve been comrades, you and I —
I thank God for each day of you;
There! bless you now! Old Year, good-bye!

Robert William Service, the renowned poet of the Yukon, was one of the poets featured in the book “The Sourtoe Cocktail Club” by Ron Franscell. A comfort food for the brain story of a father and son’s journey to Dawson to drink the sourtoe cocktail.

Gold Powers To 12th Yearly High Close

Here are the year-end gold closes:

2000 — $273.60
2001 — $279.00
2002 — $348.20
2003 — $416.10
2004 — $438.40
2005 — $518.90
2006 — $638.00
2007 — $838.00
2008 — $889.00
2009 — $1096.50
2010 — $1421.40
2011 — $1566.80
2012 — $1658.40 $1,675.80

In 2010, I predicted Gold would go up for the 11th straight year to $1,704!. It overshot my target by reaching $1,920. While it finished soft at $1,564.80, I predicted we will trade at least as high as $2,000 in 2012. Gold saw a high of only $1798.10 in 2012, but the year end close finished at $1658.40 $1,675.80. That close is the 12th year in a row that Gold finished the year higher than the previous year. That’s a gain of 5.8% 7.0%!

I predict for 2013, Gold will break the old high of $1920 set in 2011 and power our way to $2300 and finish higher for the 13th year in a row.

UPDATE: I was fooled. I thought the last day of trading for 2012 was Friday. That’s why the changes. Gold finished today up $19.50!

We Can’t Afford This!

Obama Orders Pay Raise for Biden, Members of Congress, Federal Workers

Obama doesn’t care about our spending!

Here’s One Angry Lady!

Alan Simpson, the Senator from Wyoming , Co-Chair of Obama’s deficit commission, calls senior citizens the Greediest Generation as he compared “Social Security ” to a Milk Cow with 310 million teats.

Here’s a response in a letter from PATTY MYERS in Montana … I think she is a little ticked off! She also tells it like it is!

She writes…

“Hey Alan, let’s get a few things straight!!!!!
1. As a career politician, you have been on the public dole (tit) for FIFTY YEARS.
2. I have been paying Social Security taxes for 48 YEARS (since I was 15 years old. I am now 63).
3 My Social Security payments, and those of millions of other Americans, were safely tucked away in an interest bearing account for decades until you political pukes decided to raid the account and give OUR money to a bunch of zero losers in return for votes, thus bankrupting the system and turning Social Security into a Ponzi scheme that would make Bernie Madoff proud.
4. Recently, just like Lucy & Charlie Brown, you and “your ilk” pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age, 67. NOW, you and your “shill commission” is proposing to move the goalposts YET AGAIN.
5. I, and millions of other Americans, have been paying into Medicare from Day One, and now “you morons” propose to change the rules of the game. Why? Because “you idiots” mismanaged other parts of the economy to such an extent that you need to steal our money from Medicare to pay the bills.
6. I, and millions of other Americans, have been paying income taxes our entire lives, and now you propose to increase our taxes yet again. Why? Because you “incompetent bastards” spent our money so profligately that you just kept on spending even after you ran out of money. Now, you come to the American taxpayers and say you need more to pay off YOUR debt. To add insult to injury, you label us “greedy” for calling “bullshit” to your incompetence. Well, Captain Bullshit, I have a few questions for YOU:

1. How much money have you earned from the American taxpayers during your pathetic 50-year political career?
2. At what age did you retire from your patheticpolitical career, and how much are you receiving in annual
retirement benefits from the American taxpayers?
3. How much do you pay for YOUR government provided health insurance?
4. What cuts in YOUR retirement and healthcare benefits are you proposing in your disgusting deficit reduction proposal, or as usual, have you exempted yourself and your political cronies?

It is you, Captain Bullshit, and your political co-conspirators called Congress who are the “greedy” ones. It is you and your fellow nutcase thieves who have bankrupted America and stolen the American dream from millions of loyal, patriotic taxpayers. And for what? Votes and your job and retirement security at our expense, you lunk headed, leech. That’s right, sir. You and yours have bankrupted America for the sole purpose of advancing your pathetic, political careers. You know it, we know it, and you know that we know it. And you can take that to the bank, you miserable son of a bitch. NO, I did not stutter.

If you like the way things are in America delete this. If you agree with what a Montana citizen, Patty Myers,
says, please PASS IT ON!!!!

And stop calling Social Security benefits “entitlements”……WHAT AN INSULT !!!!
I have been paying in to the SS system for 45 years…it’s my money…give it back to me the way the system was designed and stop patting yourself on the back like you are being generous to be dolling out these monthly checks.

Seeing Red!

And you want more jobs here. then stop voting the way you do and vote for a change in our policies!

Killing The Economy

I see red every time I hear Obama say, “The rich should pay their fair share.” What’s fair about the top 10% of wage earners paying 70% of all the taxes? What’s fair about the bottom 50% of earners paying no taxes?

Then I see red when Romney was criticized for only paying 13% of his earned income in taxes. Critics forget that he gets to write off his charitable contributions. Where would the nation’s charities be without contributions from the rich? They forget that he may be getting tax free income from municipal bonds. We benefit by paying lower interest rates on capital improvements, roads, bridges, schools, etc., by the wealthier citizens buying municipal bonds and getting tax free income.

Critics forget that Romney pays lower tax rates because his income may come from Capital gains. IBD has an editorial about capital gains rates today. They argue that there are Six Reasons To Keep Capital Gains Tax Rates Low.

  • Inflation – The government is the source of inflation. It is the reason that house prices appear to increase when it’s really the dollar that is losing value. Why should anyone pay current income rates on the gains. Capital gains rates are a way of indexing for inflation.
  • “Lock-In” – taxes are assessed on the realization of gains. If capital gains rates are high, an investor will avoid a sale and that locks in capital that could start a new investment.
  • Double Taxation – shares of a company rise because of future earnings, which are taxed at the corporate level and taxed again on sale of shares. Dividends are the result of earnings which are taxed and when paid to investors are taxed again.
  • Competitiveness – “Capital has become highly mobile across borders…” when the taxes on capital are higher here, it will move to countries with lower rates and there go jobs!
  • Growth Companies – “Reduced capital gains taxes encourage entrepreneurship.”
  • Government Revenue – “A recent Congressional Budget Office study found that the longer-term responsiveness of capital gains realizations to the tax rate is quite large. It found a persistent elasticity of -0.79, which means that a 10% cut in the tax rate would increase ongoing realizations by 7.9%.”

You want to tax all income at the same rate? Then prepare for more unemployment and less revenue for politicians. You want to raise rates on capital gains and dividend income, then prepare for an economy that tanks and bigger deficits and more debt! Kill the golden goose and prepare for the young to riot for lack of jobs and the streets to be filled with rioters who want their “entitlements” which we won’t be able to afford.

Did You See Crude Oil?

In Short Term Buy On Crude. I wrote:

Eric De Groot sees a Bullish Setup in Crude Oil. So I looked at the charts on oil and I see a short term buy signal at $89.80

Crude popped today Up $2.36 to $91.10. The target is now $100 (See Chart). The respite in gasoline prices is over!

75 Economic Numbers From 2012

… That Are Almost Too Crazy To Believe

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