Monday, 20 February 2012 13:07
Truth Talking on Taxes: Don’t Believe Everything You Hear
Written by Andrew D. Rice
There’s an old saying (based on Scripture) that affirms “the truth will set you free.” Yet I often wonder if our government officials ever heard the saying because, year after year, we seem to hear more evidence pointing to the contrary. For instance, many politicians appear to twist the truth during campaign years as it relates to our tax code in an effort to manipulate voters into believing what they want them to hear instead of the actual truth. Maybe that really isn’t the case; perhaps our politicians are just inadequately educated about the comprehensive truth as it relates to taxes. (Read The Full Story)
Published in
Tax Planning
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It was another exciting week on Wall Street as the majority of stocks continued to befuddle the most pessimistic pundits as stock prices continued to move higher. During the holiday-shortened week, stocks took their cue from better-than-expected earnings reports and some unexpectedly strong economic data. It was the ‘bulls’ third-straight weekly win for the month of January and it’s the best start for a new year dating all the way back to 1987. And, what’s even more confusing and surprising is that the worst stocks of 2011 are now the new leaders of the still young 2012. It is interesting to note that according to the Bespoke Investment Group, the 50 worst-performing stocks in the Standard & Poor’s 500 index last year, for example, have jumped by nearly 11% this year, while 2011’s 50 best stocks are up just 2% over this same time period.Topsy-turvy to say the least!
It was another interesting week in the stock market last week, as even after Standard & Poor’s downgraded the credit ratings of France, Italy and seven other European countries on Friday, the U.S. stock market continued to trek even higher. These downgrades no doubt pose fresh challenges for Europe’s political leaders, and underscore the fact that even as Europe’s debt turmoil enters its third year, there are still no clear solutions yet in sight. However, it’s beginning to appear that our markets are becoming increasingly insolent to these ongoing sovereign debt issues. Whether this remains realistic or prudent remains to be seen.
Monday, 16 January 2012 09:01
What’s Different About the Wealthy? They’re Patient
Written by Andrew D. Rice
Patience. Who has any of that anymore, especially when our own government illustrates that we should be able to have anything and everything we want immediately! Credit cards have allowed people to spend money they don’t have, while easy banking/lending allowed people to buy houses they surely couldn’t afford. Of course we know the rest of that story. Furthermore, our government, and many other governmental bodies around the world, have been living in a utopian bubble that assumes everything can be borrowed and paid for later, with some still not fully beyond that thinking yet. (Read The Full Story)
Published in
Education Planning
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Stocks started off the New Year with an upward surge, thanks largely to better than anticipated economic data including a strong employment report this past Friday. Friday, the Labor Department said the unemployment rate fell to nearly a three-year low of 8.5%, from 8.7% in November – the fourth consecutive monthly decline. Although trading volume was extremely light in the holiday shortened week, it appears as though investors were worried about missing out on the start of yet another possible stock market rally. In addition, there was some clue as to rally-chasing, since some of the stocks that did the best last week were the so-called ‘losers,’ or among the poorest performers of 2011. Contrary, some of the worst stock performers last week, mainly the defensive issues, were among the best of 2011.
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