First of all, I need to be careful what I say.
Because I am a Registered Representative, I cannot recommend specific things (products) nor give specific investment advice over the internet, as I am regulated by the SEC.
This keeps people from rumor-mongering on investment boards while going short the stocks, etc... I can advise you in private, if you want my specific opinions about your personal situation.
Having said that, on your first question:
* As a money manager, do you feel apprehensive about the socialist agenda, stated and implied, that has swept into power as far as the safety of mutual funds?
Yes, the entire market has been apprehensive about an Obama victory, and you have seen that reflected in the large swings in the market and high volatility. In other words, we have seen this coming, and a lot of it may already be priced into the markets already. Markets hate uncertainty, so you may actually see the markets go UP because we now do not have that uncertainty any more. Your underlying funds are only as safe as the investments inside them, however, and they will react to outside factors like capital gains taxes immediately. A large number of people may now sell in 2008 to avoid a potentially higher capital gains rate later on, for instance.
Next:
* Do you think transferring our savings and IRAs to a Galt Fund is a better idea than cashing everything out NOW and sinking those dollars into tangible assets?
No, I do not.
First of all, we have not yet invented "The Galt Fund", so that is not an option.... at this time. Secondly, our goal is not to take our money out of capitalism, but to use capitalism (our capital) to either punish the Obama Socialist Beast and it's supporters by starving it, or by eventually using our money to actually take over these problem companies or industries.
We do not win by buying gold (although gold may go up in value, as all commodities probably will, I am speaking of "the cause", not the individual). That is retreat from capitalism. We win by using capital as a political and economic tool to send a message, and convert the minds of the people who have drank the socialist Kool-Aide.
For example: One way we can "starve the beast" and probably help ourselves at the same time, is to invest in tax free municipal bonds, so your tax dollars won't fund the Obama Treasury. State Muncipal Bonds are not federally taxed, but may be taxed at the state level. I live in Florida, where there is no state tax, so I would pay no taxes at all on them, except possibly the Alternative Minimum Tax... but I'm probably getting way too complicated here. The added benefit to you is that if you have a tax rate that will be rising, these bonds will benefit you more later on.
We can also purchase municipals in a "Galt Fund" or a "Reardon Fund" or a "Dagny Fund" (all characters in the book, for those who have not yet read it...) Only in Red States..... thus starving the blue states of capital, or making them pay higher rates of return in their bonds to attract it.
Next:
* Are you worried that the fedguv would feel they had the blessing of the people to "spread the wealth" and would feel they now had the moral authority to seize people's retirement accounts and savings accounts to share with those who have not saved as much as we have?
Yes, and they are discussing that in Congress as recently as the the last week they were in session.
There are things (all legal...) you can do to make that difficult for them to do, but I cannot get into specifics on the net, because you may live in a state where I am not licensed to give you advice, and I would never give specific advice without speaking with you first.
Next:
We have scrimped and saved and gone without and sacrificed for a decade to get to where we are now financially, and I am NOT going to let some commie bass-turds take our hard-earned savings to give to some degenerates who have spent every nickel they get on booze and bling. I really would like to hear your opinion on this.
Unfortunately, if you want specifics on what you should do personally, you are going to need to shoot me a PM with your phone number, and I would be happy to talk to you, or anyone else about their own plans for the future, and how the Obama victory/America defeat may affect you.
Again, I cannot give specific advice over the internet, or even in an e-mail. The Securities and Exchange Commission regulates us strictly. If, or when you contact me, I need to know what state you live in so that I can determine if I am licensed in that particular state.
What I can tell you about myself personally, is that I have been a Freeper since 1998. I have been a licensed Reg Rep since 1988, so this isn't my first rodeo. ;)
Put me on you list. NC was almost a red state.
This would be a good start. My state has flipped from red to blue from top to bottom. And so I have little interest in purchasing it's bonds. But bonds from places like TX or SC might be very tempting.
add me to the ping list.
I’ve noticed the talk about Atlas Shrugged, I guess it’s time to actually order it and read it.
Municipal funds - in highly taxed socialist states - still worth it?
Alternatives?
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