Impeach Biden depression inflation stagflation, monetary policy, fiscal policy, supply crisis, border crisis, covid crisis…. | Financial Risk

The USA Federal Reserve has been punishing savers with zero interest rates for years. By an exploding money supply in the USA and overseas. Highly stimulative Monetary Policy...

A death tax by stealth? Your superannuation savings could be subject to a hefty tax when you die – ABC News

Comment by tonytran2015: My position is that superannuation plans have not been designed for the benefits of workers. It is there to benefit funds managers and governments.

It all depends on your marital status and whether you have “dependants” (that is children or someone else who lives with you
and financially depends on you).

If you are single and childless, and no one else depends on you, your super money will be taxed before being handed to the person you nominate to receive it — assuming you nominated someone prior to your death to get the money.

The Market Crash Nobody Thinks Is Possible Is Coming, by Charles Hugh Smith | STRAIGHT LINE LOGIC

Charles Hugh Smith foresees a thunderous crash and believes the stock market has already topped out. SLL isn’t arguing with him. From Smith at

The banquet of consequences is being served, and risk-off crashes are, like revenge, best served cold.

The ideal setup for a crash is a consensus that a crash is impossible–in other words, just like the present: sure, there are carefully measured murmurings about a “correction” but nobody with anything to lose in the way of public credibility is calling for an honest-to-goodness crash, a real crash, not a wimpy, limp-wristed dip that will immediately be bought.

What I’m calling for is a rip your face off, weeping bitter tears over the grave of the speculative wealth that you thought was forever crash.All those buying the dipbecause the Fed will never let the market go down will be crushed like scurrying cockroaches and all those trying to rotate into the next hot sector or asset class will also be crushed like scurrying cockroaches because when the Everything Bubble pops, well, everything pops. There is no shelter in a risk-off cascade.

The crash is coming as a result of multiple mutually reinforcing dynamics, the first being that no “serious person” believes a crash is possible, much less imminent. In no particular order, here are a raft of other causally consequential triggers of a cascading market crash:

1. As I noted in my call for the top, Is Anyone Willing to Call the Top of the Everything Bubble?(September 6, 2021), there is no history to support the widespread confidence that the extremes of over-valuation, leverage, euphoria and speculation last forever, or even much longer than the lifespan of a cockroach. We’re well past that benchmark into unprecedented insanity. So what happens next: squish.

Just for the record, the Dow topped out on August 13, the S&P 500 topped out on September 2 and the Nasdaq topped out the day after my call, September 7. (Close enough for gummit work…)

Continue reading→

Colonial First State deceives super customers 13,000 times – ABC News

Comment by tonytran2015: Compulsory superannuation in Australia has created rip-off, fraudulent markets for Superannuation Fund Managers. The financial illiterate, forced contributors lose heavily.

Colonial First State deceives super customers 13,000 times

A court has found that the Commonwealth Bank-owned investment firm
Colonial First State (CFS) misled and deceived superannuation customers
to keep them in a higher fee fund.

In a case brought by the corporate regulator, the Federal Court ruled the trustees of CFS’s First Choice fund were liable for encouraging members of the
fund to remain rather than move to a cheaper MySuper product, a low-fee

product required by law.

The Real (and Growing) Problem with Social Security | International Liberty

In an ideal world, Americans would have personal retirement accounts, just like workers in Australia, Sweden, Chile, Hong Kong, Israel, Switzerland, and a few dozen other nations.

But we’re not in that ideal world. We are forced to participate in a Ponzi Scheme known as Social Security.

By the way, that’s not necessarily a disparaging description. A Ponzi Scheme can work if there are always enough new people in the system to pay off the old people.

But because of demographic changes (increasing lifespans and decreasing birthrates), that’s not what we have in the United States.

And this is why Social Security faces serious long-run problems.

How serious? The Social Security Administration finally released the annual Trustees Report. This document has a wealth of data on the program’s financial condition, and Table VI.G9 is where the rubber meets the road.

As you can see from this chart, there will be an ever-increasing burden of Social Security taxes and spending over the next 75 years. And these numbers are adjusted for inflation!

The good news (relatively speaking) is that the economy also will be growing over the next 75 years, both in nominal terms and inflation-adjusted terms.

The bad news is that spending on Social Security will grow at a faster rate, so the program will consume a larger share of the economy’s output.

Productivity Commission flags superannuation overhaul, but big questions loom – ABC News

Comment by tonytran2015: Compulsory Superannuation in Australia benefits the financial companies managing Superannuation Funds more than the workers contributing to the funds with 9.5% of their salaries. It is an institutionalized scam targeting the financially illiterate workers.

A key area the PC [Productivity Commission of Australia] did focus on in its report, was the fact that Australians pay over $30 billion a year in fees on their super

(excluding insurance premiums).

[$30 billion a year is excessive for a national total population of 25 million, including non-working and children].

A report released by the Grattan Institute last year
noted that reducing average super fees, and increasing investment
returns, by channelling people into the better performing superannuation funds, would also boost retirement incomes by more than raising the
Super Guarantee to 12 per cent [from currently 9.5 per cent].

Test for our Leaders | Simple Living Over 50

When our leaders and decision makers fall out of line with the American people it may be time to re-think about our voting decisions. I pose a set of simple questions for our leaders that may let them understand just who the American people really are.

  1. When was the last time you made a peanut butter and jelly sandwich for lunch? Or hot dogs and mac and cheese? Rice and beans? How about fried bologna with melted cheese?
  2. When was the last time you needed to make a decision on which bill to pay and which bill will have to wait until next month? When was the last time you felt the threat of being evicted or foreclosed on your home?
  3. When was the last time you felt that sending your children out to play may be too dangerous? Or, when was the last time you felt that you were in a situation where you had to physically defend yourself?
  4. When was the last time that you felt you needed government assistance just to feed you family?

These questions and many more are realities that Americans deal with each and everyday. By simply truly understanding these realities a leader can quickly distinguish the direction that must be taken to provide an initial plan of attack that works for the American people.

Proverbs 6 NIV [on financial responsibility]

Comment by tonytran2015: This part of Proverbs 6 should be taught in every school as part of economics and financial literacy.

Proverbs 6

New International Version

Warnings Against Folly [on financial responsibility]

1My son, if you have put up security for your neighbor,
if you have shaken hands in pledge for a stranger,

2you have been trapped by what you said,
ensnared by the words of your mouth.

3So do this, my son, to free yourself,
since you have fallen into your neighbor’s hands:
Go—to the point of exhaustion—
and give your neighbor no rest!

4Allow no sleep to your eyes,
no slumber to your eyelids.

5Free yourself, like a gazelle from the hand of the hunter,
like a bird from the snare of the fowler.

6Go to the ant, you sluggard;
consider its ways and be wise!

7It has no commander,
no overseer or ruler,

8yet it stores its provisions in summer
and gathers its food at harvest.

9How long will you lie there, you sluggard?
When will you get up from your sleep?

10A little sleep, a little slumber,
a little folding of the hands to rest—

11and poverty will come on you like a thief
and scarcity like an armed man.

12A troublemaker and a villain,
who goes about with a corrupt mouth,

13who winks maliciously with his eye,
signals with his feet
and motions with his fingers,

14who plots evil with deceit in his heart—
he always stirs up conflict.

15Therefore disaster will overtake him in an instant;
he will suddenly be destroyed—without remedy.

16There are six things the Lord hates,
seven that are detestable to him:

17haughty eyes,
a lying tongue,
hands that shed innocent blood,
18a heart that devises wicked schemes,
feet that are quick to rush into evil,
19a false witness who pours out lies
and a person who stirs up conflict in the community.

In simpler terms

26 Don’t agree to guarantee another person’s debt or put up security for someone else.

27 If you can’t pay it, even your bed will be snatched from under you.

The following advice is from Australian Government:

If you guarantee a loan for a family member or friend, you’re known as
the guarantor. You are responsible for paying back the entire loan if
the borrower can’t.

Actually it can be worse than that. The lender can even start recovering money from the guarantor without going for the money of the borrower.

So keep this in your head and never become a guarantor. You get absolutely nothing but may lose everything. Do NOT promise if you have no ability to give.






How I’m Keeping Inflation From Ruining My Retirement Lifestyle. – Ciphers From Cindi

If you’re like me, you only planned for inflation to hover around 2 to 3% per year. Today, the inflation rate is nearing more like 10% and even that revelation is probably too low. I don’t believe the current inflation is going to be transitory. Whatever that means. The government is telling us inflation is temporary. I disagree. I think the current rise in consumer products (inflation) is going to be with us for a long, long time. At least for the next four years, according to Bank Of America (BofA) (click here).

Cuomo files for retirement days before his forced resignation over sexual harassment allegations
The Biden State Department moved in June to cancel a program overseeing the protection and evacuation of American citizens stationed overseas in the case of an emergency, just as the Taliban was taking over Afghanistan, according to an internal State Department memo obtained by the Washington Free Beacon and multiple sources familiar with the matter.…