Finance & EconomyFinance & Economy
Avoiding an economic crisis in your retirement years is critical to your future and happiness. Education is the key and Brock and Associates is dedicated to teaching its clients the strategies that will help ensure financial securing and peace of mind.
Understanding the Stimulus Bill
Shortly after class, an economics student approaches his economics professor and says, "I don't understand this stimulus bill. Can you explain it to me?"
The professor replied, "I don't have any time to explain it at my office, but if you come over to my house on Saturday and help me with my weekend project, I'll be glad to explain it to you." The student agreed.
Stimulus act (ARRA) provides substantial tax breaks for businesses and individuals
UPDATE: Earlier this week, we sent you a summary of the key tax provisions of the American Recovery and Reinvestment Act of 2009 (ARRA). Ongoing analysis of the act has yielded a small update to the alert's S corporation tax break information. Find the updated information below under "S corporation built-in gains tax relief."
On Feb. 17, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA). While approximately two-thirds of the nearly $800 billion stimulus act is focused on government spending initiatives intended to create jobs and jumpstart the economy, about one-third provides tax breaks for businesses and individuals.
Gold Confiscation Order of 1933
This is a transcript of the Gold Confiscation Order of 1933. President Roosevelt gave the public 25 days to turn in their gold or face a hefty fine and up to 10 years imprisonement. After the transcript is a link to see the actual order in pdf format.
How Big is the Bailout really? ...So far?
As more and more come to the Fed begging for cash, the costs are adding up... According to Barry Ritholz, author of The Big Picture, total federal aid (including the Citi bailout) now equals $4.6 trillion – making the credit-crisis rescue the largest government project in history.
Unfortunately, there are four major concerns I see with the analysis below. First, expenditures from the old "New Deal" of 75 years ago haven't ended yet, and so the figures below are grossly understated, and we are facing an expansion of them once again in economic policy. We still have the agencies, authorities, laws, programs, regulations, and other expenditures and drag on economic growth that has perpetuated since those days. Repeated economic studies have shown that The New Deal actually exacerbated the depth and prolonged the length of The Great Depression.
No Surprise With Newest Citi Bailout
Do you remember the three big banks I named in the Brock and Associates’s “Making $ense” newsletter back in March-April? (See our newsletter “Archives”.) And the three banks that hold one-third of the $516 Trillion in derivative bets out there? And all those derivative bets out there that were non-disclosed “off balance sheet” transactions? Well, read below about Citibank, JP Chase Morgan, and Bank of America.