Originally posted June 12, 2013. Gun-free zones don’t make you safe - they make those wishing to steal your birthday safe. As Allysia Finley of The Wall Street Journal notes: But it's also worth pointing out that the state of California and city of Los Angeles have among the strictest gun-control laws in the country. According to the Brady Campaign to Prevent Gun Violence, California's gun-control laws were the toughest in the country in 2011. Los Angeles's gun-buyback program has removed more than 11,000 guns from the street during Los Angeles Mayor Antonio Villaraigosa's eight-year tenure. … [Read more...]
New Michigan Law Reveals Big Trouble
A new law requiring communities to report their underfunded retirement plans is revealing some bad news in Michigan. The report shows that nearly a quarter of the state's local government units have underfunded their pensions or retirement health care plans, or both. CBS Detroit reports on the bad news: The list includes metro Detroit hubs like Southfield, Berkley, Flint, Centerline, Eastpointe, Mount Clemens, New Baltimore, Romeo, St. Clair Shores, Warren, Hazel Park, Grosse Ile, Hamtramck, Highland Park, Lincoln Park, Grosse Pointe Farms and Grosse Park Woods. The report is meant … [Read more...]
The Best Way to Travel in a Blizzard
Today most of Eastern New England is wrapped in a blizzard. Heavy snow and fierce winds are making conditions extremely difficult for travelers. But there are a number of ways to get around in the snow, though some of them are unorthodox. Snow shoes: These surface area enhancers can keep a person walking on top of the snow, not trudging waist deep. A great option if you have a good overland route, but traveling on snowshoes is a slow affair. Cross country skis: Skiing around is popular in many Nordic countries where regular snow pack conditions make it preferable to trudging through … [Read more...]
Can Blockchain Survive Crypto-Mania?
I have repeatedly said that while I'm not a big fan of bitcoin the currency, I think there is a lot of value in blockchain technologies. (See here, here, here, and here for more on that). Despite being the most inherently valuable piece of the crypto-currency craze, blockchain is also the least understood. With the power to change how business is done in real estate, shipping, material sourcing, and other industries. At The Wall Street Journal, Christopher Mims explains blockchain: What is blockchain? It’s essentially a secure database, or ledger, spread across multiple computers. … [Read more...]
Mortgage Rates Still Low Historically
If you’re old enough to collect Social Security you might laugh out loud reading this from today’s WSJ: "U.S. mortgage rates have hit their highest level since 2014, a new challenge for a housing market that has been central to the economic recovery but remains vulnerable to even modest headwinds. The rate for a 30-year fixed-rate mortgage rose to 4.46%, the highest in more than four years and the ninth consecutive week of increases, according to data Thursday from mortgage-finance giant Freddie Mac." While everyone is talking about the “sharing” economy, I have yet to speak with an … [Read more...]
Why I Want You to Prepare for the Worst
One of the best parts about a New England Winter is that Spring is right around the corner. To help soothe my cabin fever, I visited my favorite fishing site and magazine, On The Water, to see what’s biting. "Captain Frank, of The Frances Fleet in Narragansett, is looking forward to the calm “after” the storm, as the last week or so has been tough for everyone around the New England coast. The strong NE blow and the storm systems look to be clearing out for the weekend, and there is a good chance that the fleet will have a few good sailing days. The temperatures on the cod grounds are still … [Read more...]
Richard Russell’s Rule #1
Originally posted January 7th, 2016. You need to have some will-power to stick to your guns in this stock market. No one said it was going to be easy. But to allow the magic of compound interest to work for you, you have to be patient. Here is one of the great lessons I love to read over and over again from the late Richard Russell. Mr. Russell passed away in November at the age of 91. He wrote daily to his beloved subscribers right to the bitter end. I miss reading his daily thoughts on the market and, even more so, on life in general. RIP Mr. Russell. Rule 1: Compounding: One of the most … [Read more...]
State Houses the New Battleground in the War for the 2nd Amendment
Yesterday the Florida legislature passed a gun control bill including measures to raise the age required to buy a firearm from 18 to 21, requiring a three day waiting period to buy a firearm, banning the sale of bump stocks, and creating a new way for courts to confiscate firearms from people found to be a risk. The bill also funds mental health and school security measures. Governor Rick Scott has not yet signed the bill. But Florida isn't the only state seeing a renewed push for gun control in the aftermath of the Parkland shooting. States houses around the country have once again become … [Read more...]
Many Millennials Have No Savings
A new report from the National Institute on Retirement Security shows that around 66% of working age Millennials have nothing saved for retirement. That's not good, but also not terribly surprising since so many of them have had a delayed start in the work force, have massive student loans, and rents are at some of the highest levels ever. On CNNMoney, Katie Lobosco details the report, writing: About one-third are saving for retirement. Most have less than $20,000 but some have much more. The average account balance is $67,891, according to the report. If they are saving, it's likely … [Read more...]
Thieves Now Stealing Identities That Don’t Even Exist
In what is known as "synthetic identity fraud," thieves are now creating false identities from whole cloth, and using them to dupe lenders and credit card companies out of their money. The Justice Department says this fast growing danger is one of the hardest forms of identity crime to fight. That's probably because no actual identity is being stolen, so there's no immediate victim to raise a red flag on fraudulent activity. The victims in this case end up being the lenders who cannot get their money back after sending it to a completely fictitious person. Peter Rudegeair and AnnaMaria … [Read more...]
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