Posted on 08/08/2011 5:24:50 PM PDT by STARWISE
Edited on 08/08/2011 5:27:22 PM PDT by Admin Moderator. [history]
After Standard & Poor
(Excerpt) Read more at blogs.wsj.com ...
Life insurance is the best possible tax shelter available, for those in the highest brackets.
This is true for Income Tax as well as Estate Tax.
Buffet knows this, and likes higher tax rates!
I was told yesterday that many insurance companies, hospitals, universities, trusts, corporations and other institutions are mandated to invest exclusively in AAA rated securities, and we’d see a major selloff today.
So I guess now they’ll be in cash, gold or in emerging markets?
http://www.freerepublic.com/focus/f-news/2760708/posts
Rick Santelli Goes Off: “We’d Be BBB Without Tea Party!” (Video)
Gateway Pundit ^ | August 8,2011 | Jim Hoft
Posted on Monday, August 08, 2011 5:03:44 PM by Hojczyk
From the Video: Rick Santelli reacts to President Obama’s blame game when it comes to the downgrade of the United States of America’s credit rating. Santelli says that if it wasn’t for the tea party movement, America’s credit would have been downgraded to BBB.
He also responds to the argument that we have a revenue problem by comparing it to if his wife spending 30% more money then telling him to get 2 more jobs. Hat Tip Ed
http://www.youtube.com/watch?v=XifNbkwJUz0&feature=player_embedded
There was no major sell-off in bonds today. Bonds did rather well, actually. The sell-off was in equities which are not relevant to debt ratings. The stock sell-off is due to the second wave of recession exploding across America. Times are about to get much tougher and companies will suffer so the stock market is reacting.
Good old, reliably frank Rick .. he never fails to speak the raw truth. God love him.
http://www.youtube.com/watch?v=XifNbkwJUz0&feature=player_embedded
Seems paradoxical, but I get it..
Reports were our Treasuries were still attractive, but
how much longer, if our basic fundamentals are so weak?
If this implosion and volatility goes on for a long time, I wonder what won’t lose, except gold and the mattress.
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