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Wall Street Wrap: The good and the bad

The Trump economy is failing. The sky is falling!
First of all, let's debunk a myth promoted by the mainstream media, which usually gets anything to do with the economy -- or anything else -- wrong. You've probably heard that 7 percent of car owners are three months behind on their payments. The fine print: These are high-risk borrowers. Those with good credit and borrow through credit loans: Only 0.7 percent are late. Jared Dillian, one of my favorite writers, puts it straight in The Good News About Consumer Debt, which is still at a all-time unsustainable high, but not the gloom and doom the media are promoting (who are just finding ways to denigrate Trump's economy, or anything Trump.)

Besides, the Trump coup has failed

5 Big Reasons to Sell Your Home This Year (Because It Could Get Tougher)

Since the start of the year, rates on a 30-year fixed mortgage (the most popular home loan) have been falling, sliding last week to a new 12-month low of 4.37%.


The three major stock benchmark indexes finished at their highest levels since November 8, lifted by growing optimism over U.S.-China trade negotiations. 

Stupid Is as Stupid Does
Somewhere in the last 30-40 years, we have become economically illiterate.
Elizabeth Warren wants wealth taxes that will impose asset forfeitures of 2-3% on households with more than $50 million in assets. There are practical and legal problems with the implementation of these “taxes,” but she wants to implement them anyway.
Alexandria Ocasio-Cortez wants a 70% income tax rate on incomes over $10 million. People sympathetic to the idea point out that this affects only 16,000 households and that it only returns marginal rates to historical levels, anyway. 
Rally continues, but is weaker than it looks
Yes, equities’ quick recovery from the October swoon was impressive. But stocks today still face many of the same stiff headwinds that were present at the September market top. So the last thing we should do is become too cocky.

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The Hidden Agenda Behind the Global Warming Hysteria

Climate change activists are not just interested in reducing carbon emissions in order to "save the planet." Their underlying desire is to overturn capitalism and replace it with socialist governments worldwide. 

Our story starts with the IPCC, or the Intergovernmental Panel on Climate Change, a U.N. organization. "And any settlement of the Global Warming issue by the UN would entail massive transfers of wealth from the citizens of wealthy countries to the politicians and bureaucrats of the poorer countries." (1)

In 1992, at the first U.N. Earth Climate Summit in Rio de Janeiro, Brazil, Program Executive Director Maurice Strong stated, very candidly: 

"We may get to the point where the only way of saving the world will be for industrialized civilization to collapse. Isn’t it our responsibility to bring this about?" (2)

Former U.S. Senator Timothy Wirth (D-CO), then representing the Clinton Administration as U.S. undersecretary of state for global issues, join…

IRA Taxes: Rules to Know and Understand

Article from schwab.com


Individual Retirement Accounts (IRAs) can be a great way to save for retirement because of the tax benefits they can provide. If you’re eligible, you can choose a traditional IRA for an up-front tax deduction and defer paying taxes until you take withdrawals in the future. Or, if eligible, you might opt for a Roth IRA and contribute after-tax money in exchange for tax-free distributions down the road.


So, what's the catch? There are a few. If you run afoul of some of the IRS rules surrounding these accounts, the penalties can be quite stiff—all the way up to a disqualification and taxation of your entire account.

Ignorance of the law is no excuse, and with few exceptions, the IRS isn’t very forgiving of mistakes. Knowing the rules can help you navigate the many potential IRA tax traps you might encounter on your way to retirement.

Keep in mind that when we discuss taxes and penalties, we’re referring to those at the federal level. In most states, you will also…

Critical Financial Steps When Buying a Home

In my lifetime, I have bought six houses, and sold five. I currently live in the sixth, which was new construction, which was an adventure unlike purchasing an existing home, But the principles of buying a home are the same, whether you are purchasing a new home, or an existing home.

1. Understand why you want to buy a house
Purchasing a home is a major decision that shouldn’t be taken lightly. It’s important to define your personal and financial goals before proceeding. Think about factors such as whether you’re craving more stability, whether it makes sense financially and whether you’re prepared for the responsibility of maintaining a home.

You should explore some resources on Renting vs. Buying before you make the decision. I posted a article with a couple of good videos on this subject, and bankrate.com as an informative article here
2. Dig Into Your Credit Reports and Credit Scores Your credit score and history are the first things all lenders will look at to decide whether or …