Luv2Read's Account Talk

[Asylum]

Made up my mind..I'm going all S tomorrow before the nooner

i'm waiting a couple more days for a nice down swing myself..

 

[luv2read]

As it turns out both C and I funds hit my target entry points today, which I thought S&P would have to get below 1370 to do. Hope I didn't miss it...but I think tomorrow will be even lower for I fund. Dollar is getting stronger which is bad for the I fund.

 

[Steadygain]

As it turns out both C and I funds hit my target entry points today, which I thought S&P would have to get below 1370 to do. Hope I didn't miss it...but I think tomorrow will be even lower for I fund. Dollar is getting stronger which is bad for the I fund.

Hmmm - hard to tell what you did. Did you go 50/50 C/I today?

Back to the mower for just a minute. My front/back lawn is 2 acres and then I've got a wide path surrounding just over 8 acres. We've got roughly 150 trees to trim around and usually it takes me about 4 hours to mow everything.

Well my wife mowed while I was at work - took her just over 2 hours to do the whole thing. So my daughter and I can't wait to mow because Ann stressed that going full speed would have bounced her around too much. Carrie and I should have it done in 2 hours.

My inlaws are 5 minutes from us with 80 acres of beautiful land. He's 80 yrs old and does all the mowing, builds ramps as a hobbie for people with wheelchairs, rides his horse, and does a million other things - so his health is really good.

 

[luv2read]

Investors Get More Bearish on U.S., U.K.; Brazil Bulls Retreat
By Michael Patterson

June 11 (Bloomberg) -- Investors from the U.S. to Europe to Japan are growing more convinced stocks will drop the next six months as commodity prices curb profits and force central banks to raise interest rates, a survey of Bloomberg users showed.
The Standard & Poor's 500 Index, the U.K.'s FTSE 100 Index, Japan's Nikkei 225 Stock Average, Spain's IBEX 35 Index, the Swiss Market Index, France's CAC 40 Index, Italy's S&P/MIB Index and Germany's DAX Index will fall, according to the Bloomberg Professional Global Confidence Survey of 3,189 users taken June 2 to 6. In Brazil, the only market where investors anticipate higher prices, optimism faded, the survey showed.
The MSCI World Index's nine-week rally from a 17-month low ended last month as oil and corn helped lead gains in prices of raw materials. Financial stocks in the MSCI World declined the most since the end of April, dropping 11 percent, as Federal Reserve Chairman Ben S. Bernanke and Jean-Claude Trichet, the president of the European Central Bank, signaled they may lift borrowing costs to fight inflation.
``We're likely to see more losses in the next six months,'' said Roberto Espinosa Rubio, head of derivatives at Spanish brokerage Link Securities SV SA in Madrid, who participated in the survey. ``It's getting more difficult, especially with oil at this level, which will spur inflation, and both Bernanke and Trichet suggesting the next move for rates could be up.''
U.S., U.K. Bears
Investors grew more bearish than a month ago in the U.S., the U.K., France, Germany, Italy and Spain. Users in Japan and Switzerland abandoned forecasts for gains, while optimism in Brazil fell to the lowest since April.
``The equity markets are going to be tough,'' said Mark On, who oversees $10 billion as the New York-based chief investment officer of international equity at American Century Investments. ``All the central bankers are going to have to tighten.''
Crude futures jumped 17 percent since April and rose to a record $139.12 a barrel on June 6. Corn, the biggest U.S. crop, rose 50 percent since the start of 2008 on surging demand for feed and biofuels. The Reuters/Jefferies CRB Index, a gauge of 19 commodities, climbed to a record this week and is up 39 percent in the past year.
Air France-KLM Group, Europe's biggest airline, forecast fuel expenses will erode profits, while Marks & Spencer Group Plc, the U.K.'s largest clothing retailer, said earnings growth slowed on higher food costs.
Fed, ECB
Bernanke spurred declines in equities last week after warning that rising public expectations for inflation were a ``significant concern.'' He said June 9 that the central bank will ``strongly resist an erosion of longer-term inflation expectations.''
Trichet said last week that policy makers may raise rates next month to combat the fastest inflation in 16 years. The Euro-region inflation rate rose to 3.6 percent in May from 3.3 percent in the previous month.
``With oil at these levels and Trichet saying exactly the opposite of what we want to hear, how are equities supposed to have a smooth ride?'' said Luis Benguerel, an equities trader in Barcelona at Interbrokers Espanola SA, which oversees $140 million.
Bovespa Record
The Bloomberg stock confidence index in the U.K. dropped to 25.87 from 31.37 the previous month, while the index in Spain declined to 25.74 from 29.32. In the U.S., sentiment slipped to 35.36 from 35.76. In Brazil, the index fell to 70.86 from 82.52 in May as the Bovespa slipped from a record.
Brazil was the only one of nine markets surveyed with a reading above the 50 threshold that indicates investors expect stocks will gain. The Bovespa is up 6.1 percent this year.
The surge in oil prices is boosting the outlook for energy companies such as Petroleo Brasileiro SA, Brazil's state- controlled oil producer. Petrobras, as the Rio de Janeiro-based company is known, rose 33 percent since mid-March.
At the same time, higher crude sent Air France down 17 percent in the past month, contributing to a 4 percent slide in the CAC 40. The Paris-based carrier posted its first quarterly loss since 2003 on May 22 and said earnings this year will drop almost 30 percent as fuel prices soar.
Marks & Spencer, based in London, reported on May 20 that second-half profit growth slowed and predicted ``difficult'' conditions as consumers pare spending. The shares have since dropped 10 percent as the FTSE 100 lost 5.8 percent.
The MSCI World Financials Index's decline since the end of April is more than triple the 3.3 percent drop in phone-company shares, the second worst-performing group among 10 in the MSCI World. Banks have reported more than $390 billion of loan losses and asset writedowns since the beginning of last year.
To contact the reporter on this story: Michael Patterson in New York at mpatterson10@bloomberg.net.
Last Updated: June 11, 2008 07:00 EDT

:nuts:

 

[Fivetears]

$390,000,000,000.00 :notrust:

Banks have reported more than $390 billion of loan losses and asset writedowns since the beginning of last year.
:nuts:

 

[luv2read]

If you're more than 5 years from retirement, set up those Roths TODAY.

If you're counting on being in a lower tax bracket at retirement....don't.

If you're a Boomer....

Be scared...be very scared.:notrust:

Analysts say federal budget could undermine economy
[FONT=Arial,Helvetica,sans-serif]By Otto Kreisher, CongressDaily[/FONT]
Two of the government's top financial analysts told the Senate Finance Committee Tuesday the federal budget is on an "unsustainable path," and unless major steps are taken to restrain soaring health care costs the budget deficit could drag the U.S. economy to the point of collapse before mid-century. The heads of the Government Acountability Office and the Congressional Budget Office used the identical term and similar numbers in warning that the projected steep climb in the federal debt and resulting jump in interest payments would impose such a burden on revenues that the government could not pay for other programs and would starve the economy of investment capital. CBO Director Peter Orszag and acting Comptroller General Gene Dodaro said the government would have to take action to curb the growth of Medicare and Medicaid spending or raise revenues dramatically, or do some combination of the two, to ward off the pending crisis.

Orszag noted the escalating cost of medical care was affecting Americans Tuesday, reducing workers' take-home pay by an average of $10,000 and reducing the government's ability to finance other services. Dodaro pointed out that the deficit would become more of a problem by 2017 when the surplus in the Social Security account, which is being tapped to pay other federal expenses, runs out. The government would have to borrow more, spend less or raise taxes, he said. The dire warnings, which repeated similar testimony given earlier this year, were presented at a hearing which none of the 10 Republican committee members attended. But the five Democratic senators present had varying responses to the prediction of budget crisis.

Senate Finance Committee Chairman Max Baucus, D-Mont., noted the projection that by 2050 the federal budget deficit would equal 22 percent of the gross domestic product, compared to less than 3 percent Tuesday, driven mainly by medical care expenses. "If we control healthcare cost, then along with prudent policies for the rest of the budget, we will be able to control federal budget deficits," Baucus said. "But if we fail to control healthcare cost, it won't matter what else we do." Orszag said there were reasonable steps to control the growth in healthcare costs, noting that studies have shown that 30 percent of healthcare procedures have no demonstrated effect on quality of care. He and Dodaro urged Congress to develop an organization to determine reasonable healthcare reimbursement rates or set their own standards for care and payment. Senate Budget Committee Chairman Kent Conrad, D-N.D., pointed out that if all the Bush-era tax cuts are made permanent and the alternative minimum tax is indexed for inflation, "the deficit takes off like a scalded cat." Conrad, a Finance member, also noted that rising Social Security expenses were another problem. Sen. Ken Salazar, D-Colo., said there was "a disconnect between what we're hearing today and what the American public believes," because the administration argues that "deficits don't matter." Sen. John (Jay) Rockefeller, D-W.Va., said he was not willing "to see Medicare and Medicaid cut to the disadvantage of my people."
Full story: http://www.govexec.com/story_page.cfm?articleid=40265&dcn=e_gvet

Some "trust fund." "Rising social security expenses" - translates to "retiring BOOMERS."

 

[Warrenlm]

Not to worry. Hope is on the way. Yes we can. Oration is the key.

 

[Fivetears]

Please briefly explain L2R. I've been entertaining this idea, but it seems to be a small venue for short term inflating one's retirement income potential.

If you're more than 5 years from retirement, set up those Roths TODAY.

 

[luv2read]

Please briefly explain L2R. I've been entertaining this idea, but it seems to be a small venue for short term inflating one's retirement income potential.

The details are more than I can competently explain. Our XL-ent Lady can do a much better job, or check out Motley Fool.com. To get the full benefit of a Roth, it has to have been open for 5 years. Your contributions AND interest are tax free at retirement. However, the closer you are to retirement when you open a Roth or convert a regular IRA to a Roth, the less the benefit is of a Roth over a regular IRA. There are examples at MotleyFool. Some good information at WIKI too.

http://en.wikipedia.org/wiki/Roth_IRA

In contrast to a traditional IRA, contributions to a Roth IRA are not tax-deductible. Withdrawals are tax-free. An advantage of the Roth IRA over a traditional IRA is that there are fewer withdrawal restrictions and requirements. Transactions inside the Roth IRA account (including capital gains, dividends, and interest) do not incur a current tax liability. Withdrawals are generally tax free when the account has been opened for at least 5 years and the owner's age is at least 59 ½.

 

[Steadygain]

If you're more than 5 years from retirement, set up those Roths TODAY.

If you're counting on being in a lower tax bracket at retirement....don't.

If you're a Boomer....

Be scared...be very scared.:notrust:

Some "trust fund." "Rising social security expenses" - translates to "retiring BOOMERS."

L2R,
You come across as a very smart lady - well grounded on many levels - which is very good.

Now I'm sure you know what you're talking about - because all of us have to deal with the present day mentality that dominates the way our civilization manages money.

Last night I was reading about the 250 richest people in the world and their combined amount compared to the rest of us. Then they mentioned how much the top 5 would have. Lastly to put things in perspective they showed that just 4% of a Trillion Dollars would provide food, clothing, and health care benefits for every person on our planet.

4% of a Trillion - We've spent 6 Trillion so far on the Iraq War; and I'm not saying this to throw out political garbage or debate on whether the war is right or wrong. I'm simply stressing that if we would spend money MORE for the common good of the whole - and do things right - there would be no need to do away with tax bracket shelters and constantly going after the masses (who have nothing in comparison to the rich). So the real problem is the same squirels are running in the same direction that keeps the wheels turning and nothing is going to change until the underlying dynamics change towards the end of this century. I think the ROTHs are an excellent plan - but don't be surprized if they don't go after that in the next 20 years. ROTHs will likely be like our Social Security money "double taxed". The best we can do is get out of debt and live simply.

 

[Silverbird]

If you're more than 5 years from retirement, set up those Roths TODAY.

If you're counting on being in a lower tax bracket at retirement....don't.

If you're a Boomer....

Be scared...be very scared.:notrust:

Some "trust fund." "Rising social security expenses" - translates to "retiring BOOMERS."

:worried: I'm a Buster!!!

 

[Fivetears]

Thanks for the brief expanation on the deal with Roths L2R. I will dig deeper at USAA.com.
SG's closing posted comment hits the bullseye.

The best we can do is get out of debt and live simply.

 

[kar_crazy]

Thanks for the brief expanation on the deal with Roths L2R. I will dig deeper at USAA.com.
SG's closing posted comment hits the bullseye.

sounds lika a good idea might have to start riding horse back to work:blink:find me a wagon:laugh:

 

[Fivetears]

Here ya go KC. :nuts:

 

[luv2read]

See the link for the rest of this PROPHETIC article from JULY 2007. The spin doctors kept the spin going and we all believed it.

http://www.cbsnews.com/stories/2007/03/01/60minutes/printable2528226.shtml

U.S. Heading For Financial Trouble?

July 8, 2007 (CBS) This segment was originally broadcast on March 4, 2007. It was updated on July 8, 2007.

When the stock market soars or plunges, everyone pays attention. But short term results aren't that important to the man you're about to meet. David Walker thinks the biggest economic peril facing the nation is being ignored, and for nearly two years now he has been traveling the country like an Old Testament prophet, urging people to wake up before its too late. Who is David Walker and why should we care?

As correspondent Steve Kroft first reported earlier this year, he is the nation's top accountant, the comptroller general of the United States. He's totaled up our government's income, liabilities, and future obligations and concluded that our current standard of living is unsustainable unless some drastic action is taken. And he's not alone. It's been called the "dirty little secret everyone in Washington knows" – a set of financial truths so inconvenient that most elected officials don't even want to talk about them, which is exactly why David Walker does.

"I would argue that the most serious threat to the United States is not someone hiding in a cave in Afghanistan or Pakistan but our own fiscal irresponsibility," Walker tells Kroft.

 

[Steadygain]

See the link for the rest of this PROPHETIC article from JULY 2007. The spin doctors kept the spin going and we all believed it.

http://www.cbsnews.com/stories/2007/03/01/60minutes/printable2528226.shtml

I heard one of his lectures within the past year. He's incredibly grounded with solid figures the media (government) either doesn't want to acknowledge - or make known. But there is really no way around it other than huge changes (which is unlikely in the near future) or "ushering rose colored glasses" to keep everyone smiling.

As always - I enjoy your input L2R

 

[Fivetears]

The article is above board, L2R. All we gotta do is have lotsa paper & green ink; right?
Where does it stop; and more importantly... WHEN?
PS: Have you factored in the REAL dollar value of your retirement lately? We're uncontrollably loosing our @$$e$.

See the link for the rest of this PROPHETIC article from JULY 2007. The spin doctors kept the spin going and we all believed it.

http://www.cbsnews.com/stories/2007/03/01/60minutes/printable2528226.shtml

 

[nasa1974]

This was posted today on Govexec.com. This is just another finger pointing at the FTRIB and why they punished us by taking away our IFT's. They where protecting Barclays not us and this article anly shows more proof of their actions. Now that Barclays is going to be more stable we should be pushing the FTRIB to give us some of our IFT's back.


Barclays plans to raise $8.9 billion

British bank says the cash will bolster its position after subprime losses. Qatari and Japanese investors are interested.

 

[luv2read]

This was posted today on Govexec.com. This is just another finger pointing at the FTRIB and why they punished us by taking away our IFT's. They where protecting Barclays not us and this article anly shows more proof of their actions. Now that Barclays is going to be more stable we should be pushing the FTRIB to give us some of our IFT's back.


Barclays plans to raise $8.9 billion

British bank says the cash will bolster its position after subprime losses. Qatari and Japanese investors are interested.

Thanks NASA, I saw that one. Here's the part that got my attention though, because it's their investment banking branch that handles our TSP. And of course our money is invested in Barclays funds with the other "institutional investors". TSP costs have gone up astronomically in just one month and our profits have gone down due to the IFT limits. When our profits go down, so do Barclays. If they lose enough, hopefully they'll go whining back to FRTIB asking them to reinstate unlimited IFT's. Egg on face and crow on plate for all concerned.

LONDON (MarketWatch) -- British banking group Barclays said Wednesday that it intends to raise around 4.5 billion pounds ($8.85 billion) by issuing shares, in an effort to shore up its capital base after recording write-downs on assets and seeing profit from its investment-banking business wilt.

 

[luv2read]

"A contract to build what is being called the nation's first offshore field of wind turbines was announced Monday between a Delaware utility company and a firm that is to build the generators off the Atlantic coast," CNN reports. "Officials from Delmarva Power and Bluewater Wind announced details of the contract at a news conference Monday in Newark, Delaware."

..