Stock Rally Adds Another Percent while Metals Fade: Week Ahead Worries-- Investor Thread Feb. 22

Weekly investment & finance thread ^ | February 22, 2015 | Freeper Investors

[Lurkina.n.Learnin]

Let me know what you find out. I’m interested too.

[Lurkina.n.Learnin]

Americans get an ‘F’ in income tax quiz

“American adults appear to be confused — very confused — by the U.S. tax code.

The average U.S. adult scored just 51% on 10 multiple-choice personal finance questions about federal income tax returns as they relate to retirement, college savings and health care, based on a survey of 1,000 adults given by personal finance site NerdWallet. That is a fail by academic standards. Most respondents, for instance, didn’t know the tax implications of popular financial products such as Roth individual retirement accounts, flexible spending accounts and 529 education plans. “

http://www.marketwatch.com/story/americans-get-an-f-in-income-tax-quiz-2015-02-24?mod=commentaryandpfnotradingdeck,http://www.marketwatch.com/story/americans-get-an-f-in-income-tax-quiz-2015-02-24?mod=commentaryandpfnotradingdeck

Scroll down for the questions. Answers at the end.

[Grampa Dave]

Thanks that sounds like the Visa program, I’ve been invited to use.

[Repeal The 17th]

Well, I’ll be damned.
I missed one.
-
6. If you foster a pet from a nonprofit charitable organization, can you claim a tax deduction?
A) Yes, but you can only write off certain items like food, shelter and medical expenses.
B) Yes, you can write off all expenses.
C) No, you can’t write this off.
-

[Lurkina.n.Learnin]

Same one I missed. Who knew? I may open a dog kennel.

[Grampa Dave]

Very interesting post. Brings up a question:

Which companies on the right column had secret blessings from NSA/CIA/FBI for certain favors given by those companies?

Which companies said no to the 3 letter agencies?

[Grampa Dave]

Very interesting post. Brings up a question:

Which companies on the right column had secret blessings from NSA/CIA/FBI for certain favors given by those companies?

Which companies said no to the 3 letter agencies?

[expat_panama]

companies on the right column had secret blessings

It's true that Apple, Facebook, and Google are a bunch of loopy leftwingers but while I don't want to ignore the power of Central Command let's not forget that supply and demand wins every time.  Businesses get big when they meet a need, not because they know the right people.

[expat_panama]

	Markets		Yesterday		Today
	metals		Still holding to prices going back to November's bases --> $1,204.15 and $16.57		now @ $1,220.50  & $16.92; futures very strong +1.67%
	stocks		Off slightly in mixed volume; NASDAQ ending its streak;  IBD: "Market Takes Breather"		futures now trading up just barely --> +0.13%

While yesterday's econ reports were mixed/tepid, today we'll be slammed w/ both claims day and CPI:

Initial Claims
Continuing Claims
CPI
Core CPI
Durable Orders
Durable Goods -ex transportation
FHFA Housing Price Index
Natural Gas Inventories

Forget the press, the FR has it all here:

• The Hyperinflation Hype: Why the U.S. Can Never Be Weimar
• Is the Star Trek Economy a Welfare State?
• Many Americans Still Struggling In Dismal Obama Economy
• Why Obama Is So Autocratic About Environmental Policy [that's what dictators do]
• How an Undocumented Immigrant From Mexico Became a Star at Goldman Sachs
• Christie and Walker take different paths on union issues
• There's a new mortgage crisis brewing [Richard Bove] (h/t Lurkina.n.Learnin)
• Germany sells five-year debt at negative yield (h/t Lurkina.n.Learnin)

[abb]

Ike was scared of the “military/industrial complex.” He should have been afraid of the bureaucrats who create problems and the private companies who then get paid the tribute to fix them.

[Lurkina.n.Learnin]

I always see the part about the “military/industrial complex” highlighted but he also had something else to say that nobody talks about much.

“We . . . must avoid the impulse to live only for today, plundering for our own ease and convenience the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow.”

[abb]

Over the past 5 years as a citizen journalist for my own newsblog, I’ve had occasion to spend more time in courtrooms than the rest of my 65 years put together.

It’s been quite a lesson. Everyone should go and see for themselves.

Judges, lawyers, probation officers, clerks, deputies, investigators - dozens in court every day. It’s quite a revolving door that feeds off lawbreaking, alleged and real.

A judicial version of the “military industrial complex.”

[Lurkina.n.Learnin]

And you have the “Environmental Industrial Complex” also. AKA Lawyers full employment at the taxpayers expense.

[Aquamarine]

Checked into Visa Checkout at Visa.com and they only have a few select retailers that are participating so far. None on the list were stores that I normally shop at so won't be signing up for Visa Checkout at this time. The site said they will be adding new stores in the future so will check back on it one day. List of participating retailers

[Lurkina.n.Learnin]

Thanks. Not much there that I’m interested in either.

[expat_panama]

Right now futures are going with metals -0.41% and stock indexes -0.14% --this after yesterday's mixed results in mixed volume all around.  After yesterday's deflation announcement we'll get these today:

GDP - Second Estimate
GDP Deflator - Second Estimate
Chicago PMI
Michigan Sentiment - Final
Pending Home Sales
Pending Home Sales
 

[Wyatt's Torch]

FactSet Consensus Estimates:

GDP - +2.1%
GDP Deflator - UNCH
PMI - 58.2
Michigan - 94.0

[Wyatt's Torch]

GDP +2.2% but Personal Consumption revised lower.

[1010RD]

Excellent and true. They’ll fleece any way they can. It’s a hidden tax on life and living.

[expat_panama]

http://biz.yahoo.com/c/e.html says the deflator was up 0.1%. I check the BEA...