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75 Ways That The Government And The Financial Elite Will Be Sucking Even More Of The Life Blood Out Of The American People In 2011

75 Ways That The Government And The Financial Elite Will Be Sucking Even More Of The Life Blood Out Of The American People In 2011

Courtesy of Michael Snyder at Economic Collapse

The American people are experiencing financial death by a thousand cuts and most of them don’t even realize it.  The U.S. government, state governments, local governments and the financial elite are draining us financially in dozens upon dozens of different ways, and yet we have become so programmed to accept it that it just seems normal to us.  2011 is rapidly approaching, and a whole slate of federal taxes is scheduled to go up, state taxes are being increased from coast to coast, local governments are finding new and creative ways to stick it to us and the financial elite are becoming more predatory than ever. 

Meanwhile, the incomes of many average Americans are actually going down.  According to the Census Bureau’s annual survey of income and poverty in the United States, of the 52 largest metro areas in the nation, only the city of San Antonio did not see a decline in median household income during 2009.  Tens of millions of Americans are flat broke and they are getting pissed off.  According to a new poll conducted by CNBC, 92 percent of Americans believe that the U.S. economy is either "fair" or "poor".  The American people desperately want someone to fix the economy, but instead our "leaders" are trying to come up with new and creative ways to drain even more money out of us.

In no particular order, the following are 75 ways that the U.S. government, state governments, local governments and the financial elite will be sucking even more of the life blood out of the American people in 2011….

#1 State governments across the U.S. are raising fees and taxes in so many different ways it is staggering.  A reader named Richard recently sent me an email in which he described the shock that he experienced when he recently received his license plate renewal notice in the mail….

I just got a license plate renewal notice from the Oregon Department of Motor Vehicles. When I opened the envelope and saw the amount of the renewal, I was shocked. The amount seemed much higher than usual.

I have a computerized record of all my financial transactions over the last many years. I looked up previous DMV license plate renewals and I saw


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Escalating Pension Crisis Will Bankrupt San Diego

Escalating Pension Crisis Will Bankrupt San Diego

Courtesy of Mish

Telescope at a lookout point, San Diego Bay, Coronado Island, San Diego, California, USA

The pension crisis is affecting budgets in city after city and in ever increasing amounts. Please consider the latest in San Diego: Millions needed for city pensions.

Just when San Diego city officials thought they had closed a $179 million budget gap, another has opened up because more money will be needed to pay for employee pensions.

The city will have to contribute $231.7 million to the retirement fund in the fiscal year that starts in July. That’s up $19 million from the forecast used when the last budget gap was closed in December.

The increase is a result of the fund’s investment losses and more employees signing up for pension benefits because of fears they will be cut.

The higher payment most likely will be funded by cutting more services in the next few months, as opposed to the 18-month balanced budget promised when a deal was reached to reduce library hours, lay off 200 workers and end public-safety programs such as horse-mounted patrols.

“This cutting and reducing is going to go on until somebody takes seriously the solutions for solving the city’s pension mess,” Councilwoman Donna Frye said yesterday.

A new report from the city’s pension system indicates that the city has 66.5 percent of the money it needs to cover promised pensions — the lowest level since 2004. The amount the city lacks to meet its long-term pension liability is $2.1 billion as of June 30, up from $1.3 billion in June 2008.

Frye said she sees a trend of pension obligations gobbling up more of the city’s general fund, which pays for fire, police, parks, libraries and recreation centers. Unless labor unions and the city come together to find solutions, “I believe the city will someday go into bankruptcy,” she said.

Mayor Jerry Sanders has resisted any such suggestion.

San Diego Already Bankrupt

San Diego is already bankrupt, they just don’t know it yet. There is no way it can fund its pension liabilities.

I commend Councilwoman Donna Frye. She should run for mayor.

Tax hikes and fees are not the answer. The core issue is unsustainable pension benefits. The system is broke. Toying around with little cuts here and there will not help. And as bad as…
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Zero Hedge

UK Opposition Leader Calls For "People's QE" - It's Venezuela With Tea & Cakes

Courtesy of ZeroHedge. View original post here.

Authored by Daniel Lacalle via The Mises Institute,

It is sad to see that, facing the evidence of the failure of demand-side policies and money printing, many commentators propose some of the most outdated and failed policies in modern economic history. In the UK, Mr. Jeremy Corbyn, the new leader of the Labour Party, believes that the government spends too little. With a current 44.4% of GDP public spending, saying the government...



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ValueWalk

Marc Faber: In The Age Of Cyber-Terrorism, Every Investor Must Own Gold

By HARDASSETSALLIANCE. Originally published at ValueWalk.

Take it from “Dr. Doom”: own some physical gold and keep it out of the banking system.

Dr. Marc Faber, a legendary investor and the editor/publisher of the Gloom, Boom & Doom Report, is well known for his contrarian investing style.

In a recent Metal Masters interview with the Hard Assets Alliance, he noted that the...



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Phil's Favorites

Everyone Gets Arbed Eventually

 

Everyone Gets Arbed Eventually

Courtesy of 

The Wall Street Journal on the business of high frequency trading:

A costly high-tech arms race in which HFT firms relentlessly compete to shave tiny fractions of a second off data transmission times has also hurt their bottom lines.

Revenue at HFT firms from U.S. equities trading is projected to be just $850 million this year, compared to $7.2 billion in revenue from U.S. stocks trading in 2009, Tabb Group says.

Techniques pioneered by the upstart traders are now common at old-line financial firms. Goldman Sachs, for example, had 600 human traders supporting its cash eq...



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Chart School

Gold steps formation is bullish

Courtesy of Read the Ticker.

Making a clear judgment on price trend that's is correct is critical, after all the most common advice from the large heads on Wallstreet is to follow the trend. This means your trend tools must provide the clear and correct answer, readtheticker.com members are encouraged to consider RTT Steps as their preferred trend tool.

These chart examples should prove our point. RTT Steps is much better than moving averages, hands down!

Gold example

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Apple Inc example
...

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Insider Scoop

Things To Like, Things To Watch At The Gap

Courtesy of Benzinga.

Related GPS 20 Stocks Moving In Friday's Pre-Market Session A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Consumer Sentiment Repor...

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Digital Currencies

Ukrainian Lawmakers Disclose $45 Million In Bitcoin Holdings

Courtesy of ZeroHedge. View original post here.

As Ukraine's crackdown on corruption continues, three lawmakers from Ukraine’s ruling party revealed this week that they own a combined $45 million in bitcoin, according to a report by RIA Novosti, a Russian foreign news service.

Their holdings came to light during mandatory financial disclosures by members of the Ukrainian parliament, part of an IMF-approved strategy to tamp down corruption in Ukraine. The country's democratic institutions, which were never very robust to begin with, have been further destabilized by...



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OpTrader

Swing trading portfolio - week of August 14th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Biotech

Editing human embryos with CRISPR is moving ahead - now's the time to work out the ethics

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

Editing human embryos with CRISPR is moving ahead – now's the time to work out the ethics

Courtesy of Jessica BergCase Western Reserve University

There’s still a way to go from editing single-cell embryos to a full-term ‘designer baby.’ ZEISS Microscopy, CC BY-SA

The announcement by researchers in Portland, Oregon that they’ve successfully modified the genetic m...



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Members' Corner

Why we need to act on climate change now

 

Why we need to act on climate change now

Interview with Jan Dash PhD, by Ilene Carrie, Editor at Phil’s Stock World

Jan Dash PhD is a physicist, an expert at quantitative finance and risk management, and a consultant at Bloomberg LP. In his thought-provoking book, Quantitative Finance and Risk Management, A Physicist's Approach, Jan devotes a chapter to climate change and its long-term systemic risk. In this article, Ilene interviews Jan regarding his thoughts on climate change and the way it can affect our futu...



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Mapping The Market

The App Economy Will Be Worth $6 Trillion in Five Years

Courtesy of Jean-Luc

This would be excellent news for AAPL and GOOG to a lesser extent although not inconsequential:

The App Economy Will Be Worth $6 Trillion in Five Years 

In five years, the app economy will be worth $6.3 trillion, up from $1.3 trillion last year, according to a report released today by app measurement company App Annie. What explains the growth? More people are spending more time and -- crucially -- more money in apps. While on average people aren't downloading many more apps, App Annie expects global app usership to nearly double to 6.3 billion people in the next five years while the time spent in apps will more than double. And, it expects the...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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