Posts Tagged ‘disability’

The Rush for Money from Somewhere Other Than Work

The Rush for Money from Somewhere Other Than Work

money sourcesCourtesy of Charles Hugh Smith Of Two Minds

As jobs dry up, people are rushing to find some other source of income.

Both statistically and anecdotally, a rush to tap non-wage sources of income is underway. While shopping in an old-line hardware store slated for closure, the clerk assisting us noted as an aside, "I’m 62, so I can retire." He is not alone, as correspondent Craig M. sent in this story describing a leap in Social Security applications: Social Security Applications Almost Double Because of Recession

Applications for Social Security benefits rose almost 50 percent more than expected this year because of the recession, according to the federal retirement program.

“We are seeing a significant increase in both retirement and disability applications as a result of the recession,” said Mark Lassiter, a Social Security spokesman.

The 150,000 extra retirees may add to the financial pressure on the entitlement program. In May, Social Security trustees said expenses would exceed revenue beginning in 2016, one year earlier than their previous forecast.

The Social Security Administration had projected an increase of 315,000 applicants for the 12 months ending Sept. 30 partly because the first baby boomers — those born right after World War II — are starting to retire.

The actual increase was higher. Agency statistics show that 2.57 million people requested benefits, up from the 2.10 million applications received during the previous 12 months. That’s an increase of 465,000, or 47 percent higher than the expected rise.

Another standard source of non-wage income is disability and workers compensation. Social Security is receiving more applications for disability, and at least anecdotally there is some evidence that people about to get laid off are attempting to tap the workers compensation system as a backup source of income, in effect saving their unemployment insurance. Filing a "stress claim" just prior to being laid off freezes the worker’s employment status: they remain employed but are not costing the employer wages.

Eventually, the workers compensation fund paid by employers is depleted and the rates employers pay into the system will rise--but as a stopgap, an injury or stress claim relieves both employer and employee.

This being a litigious society, I suspect there is a rise in employment-related lawsuits. One of our friends who operates a small restaurant was just served with…
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ValueWalk

Berkshire Hathaway's Second-Quarter Earnings

By Jacob Wolinsky. Originally published at ValueWalk.

Whitney Tilson’s email to investors discussing Berkshire Hathaway’s second-quarter earnings; it feels like deja vu all over again; it may be time for bank stocks to trade higher; the lowest-ever u.s. junk bond yield; your worst 1%.

Q2 2020 hedge fund letters, conferences and more

Berkshire Hathaway's Second-Quarter Earnings

1) My longtime friend and former partner, Glenn Tongue, is the ax on Berkshire Hathaway (BRK-B).

So, as I do every quarter, I asked if he'd share his thoughts on Berkshire Hathaway's second-quarter earnings report (here are links to the ...



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Zero Hedge

El Erian: Reading The Dollar Doldrums

Courtesy of ZeroHedge View original post here.

Authored by Mohamed El-Erian via Project Syndicate,

A sharp decline in the relative value of the dollar this year has been met with cheers from those hoping for a short-term boost to the US economy, and with hand-wringing by those worried about the currency's global standing. But while both views reflect underlying truths, neither tells the whole story.

...



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Phil's Favorites

New Study Finds Potential Reason Why COVID-19 Occurs Less In Children

By Paula Liu via The Epoch Times, via ZeroHedge

The reason COVID-19 occurs less frequently in children could be due to the lack of a certain enzyme, researchers have found.

This new study detailed in the Journal of the American Medical Association ...



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Biotech/COVID-19

New Study Finds Potential Reason Why COVID-19 Occurs Less In Children

By Paula Liu via The Epoch Times, via ZeroHedge

The reason COVID-19 occurs less frequently in children could be due to the lack of a certain enzyme, researchers have found.

This new study detailed in the Journal of the American Medical Association ...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Kimble Charting Solutions

Doc Copper Bear Market Resistance Kiss In Play!

Courtesy of Chris Kimble

Is ole Doc Copper about to ends its 9-year bear market? I suspect we will find out the answer to the question very soon!

Doc Copper has created a series of higher lows inside the falling channel (1) since it peaked back in 2011.

The rally from the lows in March of this year, has Doc Copper testing the top of its falling channel as well as a support/resistance price zone at (2).

With Doc Copper still in a bear market (lower highs for 9-years), this price test comes into play as important resistance at (2).

If Doc Copper breaks out at (2), it would send...



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Chart School

Silver Big Channel

Courtesy of Read the Ticker

Big channels are the sand pit of price action. Lets review some big trends of these past months.


GLD
- Moving higher to upper solid red line channel


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XAU
- Ready to pause, or simply explode.



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SILVER
- Ready to pause, or simply explode.


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Digital Currencies

Raoul Pal: "It May Not Be Worth Owning Any Asset Other Than Bitcoin"

Courtesy of ZeroHedge View original post here.

Authored by Turner Wright via CoinTelegraph.com,

Raoul Pal, CEO and founder of Real Vision, says Bitcoin may soon become his only asset for long-term investments.

image courtesy of CoinTelegraph ...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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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