Every year the United Van Lines moving study sheds some light on which states are watching citizens leave, and which are receiving them. Last year, like many years, saw Americans fleeing the high tax states of New York, Illinois, New Jersey and Connecticut, the top four states for outbound traffic. After leaving those high tax states, Americans are heading for places they can retire with low taxes, or get a job. The top five states for inbound traffic were Vermont, Oregon, Idaho, Nevada, and Arizona. The map below from United Van Lines details Americans' movements in 2018. I've … [Read more...]
Americans Most Optimistic in 16 Years About Their Finances
A recent Gallup Poll found that 69% of Americans believe their financial situation will improve over the next year, that's a 16 year high and only two percentage points off the all-time high of 71%. This is no surprise as measures of economic success have improved almost universally in the last two years. Major contributions to the economic improvement have been deregulation and tax cuts, which have allowed American corporations to increase earnings, hiring, pay, and investment. Gallup's Jim Norman reports: The 69% saying they expect to be better off is only two percentage points below … [Read more...]
Browns: One of the Biggest Improvements in NFL History
In the past I've written about the usefulness of applying some math and statistics to sports. The best explanation for such benefits was Michael Lewis' book, Moneyball. The book details the methods employed by Oakland A's general manager Billy Beane to improve the team's performance. Now, Jon Hartley reports on the use of behavioral economics by the Cleveland Browns to improve from 2017's sad 0-16 losing record to 2018's 7-8-1 record, one of the biggest single-season improvements in NFL history. No surprise here, there's a big time Billy Beane connection. Hartley writes: The turnaround was … [Read more...]
Can America Afford the Green New Deal?
The short answer is, no. The Green New Deal is a pie in the sky statement of Utopian dreams. The resolution calls for rebuilding every American building, ending all traditional forms of energy production within ten years, building trains across the oceans with capacity great enough to replace all air travel, and other similarly unachievable measures. The renewable energy generation measures alone would cost around $5.7 trillion. The 14 page resolution's other demands would cost many trillions of dollars more, and would impose hardship on every American family by forcing them to renovate … [Read more...]
Canadian Crypto-currency Debacle
“A Canadian cryptocurrency exchange says about $140 million worth of customers’ holdings are stuck in an electronic vault because the company’s founder, and sole employee, died without sharing the password,” reports Paul Vigna at the WSJ. On Jan. 15, the company announced on its website that Mr. Cotten had died on Dec. 9 from complications related to Crohn’s disease while building an orphanage in India. He was 30 years old. Two weeks later, the exchange filed for bankruptcy protection in a Nova Scotia court. Quadriga said its customers have accounts with a total balance of about C$250 … [Read more...]
Did Crypto-currency or Bad Governance Beat These Investors?
Buyers using the QuadrigaCX exchange to invest in crypto-currencies are waking up to the possibility that their money may be gone forever. What happened, you ask? The system, like all crypto-currency systems presumably, was encrypted, but in the case of QuadrigaCX, only one man knew the password, and he's dead. Gerry Cotten, founder of QuadrigaCX took the password used to access customers' $145 million in digital assets with him to the grave. Without the password, it appears there is little the company can do to access customers' assets. Coin Telegraph reports: The exchange only has … [Read more...]
Underfunded Pensions and a Devil’s Bargain
In Pontiac, Michigan, pensions for public employees have been underfunded for years, and the city is going to raise taxes to help fund pension payments. This same predicament is playing out across America, with pensions in many states and cities woefully underfunded, and with pension boards who overestimate returns to paper over the problem. Like many pensions, those in Pontiac are restricted on the proportion of assets that may be invested in equities compared to fixed income and other securities. The current limit is 40% of assets may be invested in equities. These limits are in place … [Read more...]
Your Retirement Life: Looking for Tax Freedom? Here’s Where to Find It
With tax season here, it's helpful to examine your own tax situation and understand the alternatives. Read this post I wrote on July 5, 2018 for guidance. As Americans near retirement, they are always looking for ways to maximize their savings. At the top of the list of options is avoiding punitive taxation at all levels. There isn't much most people can do about federal taxes (other than vote), but Americans are gifted with a choice of 50 states and a handful of territories from which to choose where to live. I have been encouraging Americans to explore their options when it comes to … [Read more...]
The Silver Lining to Your Cash
I like having a little silver in my pocket especially when times are desperate. And I also like some in my portfolio. We may not see a rally in silver this year, but it’s coming off it’s best December in almost two years, up 9.1 percent, making me happy I own some. For me, silver is a counterbalance to my cash. And if the Fed’s going to sit tight on rates and silver is at its smallest output since 2013, it might be time to pay attention. Marvin Perez reports at Bloomberg: Think of it as a potential silver lining for investors. A deepening shortage is promising to help boost prices as … [Read more...]
RAGE Gauge February: Is the Market Keeping You up at Night?
When the S&P 500 lost 9 percent in December it marked the worst December since the Great Depression year of 1931 when the index was down 14.5%. For all of 2018, the S&P 500 lost 6.2% compared to a loss of 47% in 1931. Now let’s not forget what the carnage looked like from the beginning of the Great Depression, signaled by the crash of Oct. 29, 1929, to its end in June 1932. The S&P 500 dropped 86 percent in less than three years, and did not regain its previous peak until 1954. America has already had two nasty peak to troughs this century, with the tech and banking busts of … [Read more...]
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