After spending a winter in their northern homes, retirees who normally head south for the winter, known as Snow Birds, can't wait to get back into the sunshine. Clare Ansberry reports for The Wall Street Journal: A growing number of people, many now vaccinated, expect to head south for the winter despite the Delta variant spread. About 90% of the estimated 1 million snowbirds who travel annually from Canada, say they will head for warmer areas compared with 30% last year, assuming the land border reopens to nonessential travel later this month. Land border restrictions remain in place through … [Read more...]
Work Hard in NY and CA? Prepare to PAY Under Democrats’ New Tax Plan
Are you one of your state's most productive citizens? Do you already pay hundreds of thousands, or even millions in taxes to state and federal governments each year? Your hard work is appreciated by House Democrats, who are happy to relieve you of even more of your money. Democrats have released a tax plan aimed at paying for their planned $3.5 trillion spending bonanza, and it takes direct aim at high-income Americans. Here's a brief of the plan from Robert Frank of CNBC: The proposals include a 3% surtax on taxpayers earning more than $5 million a year. They would also raise the top … [Read more...]
I Can’t Believe I’m Agreeing with George Soros, Here’s Why
I can’t believe I’m agreeing with George Soros of all people, but what he writes here is correct (except for the part about ESG investing). What’s incredible to me is George Soros has spent the last years of his life fighting tooth and nail against America. Why the change of heart? Perhaps he’s got some money stuck in China? BlackRock, the world’s largest asset manager, has begun a major initiative in China. On Aug. 30 it launched a set of mutual funds and other investment products for Chinese consumers. The New York-based firm is the first foreign-owned company allowed to do so. The launch … [Read more...]
AMERICA DOESN’T RUN ON TOFU: Unhinged Biden Advisor Deflects Inflation Failure
It's hard to imagine how the Biden administration, with a straight face, can blame the meatpacking industry for inflation, while at the same time handing out checks like candy, and supporting the Federal Reserve's policy of nearly unlimited liquidity. But it's happening. Rather than take responsibility for driving up the prices on Americans' favored forms of protein, Biden & Co. are instead choosing to blame businesses. In what may have been one of the most tone-deaf speeches ever, Biden's Director of the National Economic Council Brian Deese told Americans that if you remove beef, … [Read more...]
September 2021 Update: Fidelity Still Number One
In my conversations with you, you ask me why we use Fidelity Investments as our custodian for client accounts. As you know, we have a long history with Fidelity going back to when Dick Young called on the firm during his Boston days, well before he started Richard C. Young’s Intelligence Report. As Dick tells the story, Fidelity was always the high-water mark, along with Wellington Management, especially for the institutional business, and clearly was moving strongly into retail. Fidelity simply never looked back and continues its dominance today. So, if you’re going to trust your lifetime … [Read more...]
BOOMTOWNS: Americans Flee Mandates for Freedom
As you and I discussed recently, big blue cities are exporting jobs to places like Florida, where their money is treated with respect. Today, let’s talk about Main Street America that’s been forgotten by big businesses that have moved America’s manufacturing base to China. How can this be a good long-term trend? I remember like it was yesterday, studying globalization—“the next big thing.” Now, look at where we are. But attitudes are changing. One thing I noticed from a trip to our log cabin in New Hampshire this summer was, the area in and around the beautiful White Mountains were packed … [Read more...]
Sleepy Joe Pulls 7 Million Americans Off the Couch
As Sleepy Joe reluctantly attempts to pull more than seven million unemployed Americans off the couch, he may want to take a look down his party line to seek out the rot. Because when he drills down into the deep Blue States, especially big blue blob cities, he’ll see years of political largesse finally coming home to roost. Take a look at Newport, RI, for example, where the streets are lined with cars from New York. Woke workers who could afford to work remotely are already here as local restaurants struggle to staff up. For years, politicians treated Newport properties as an endless piggy … [Read more...]
FLIP THEN FLOP? Banks Fund Eerily Familiar House Flipping Boom
Big banks and investors are putting a lot of money into a house flipping boom that is eerily familiar to anyone who survived the carnage of the financial crisis. Ryan Dezember reports in The Wall Street Journal: Wall Street has made a mountain of money available to house flippers, and selling move-in-ready rehabs has rarely been easier. The challenge is finding beat-up and out-of-date properties that can be renovated and resold for a profit. “Investors like me, we’re like ants on a sugar hill all fighting for the same projects,” said Ed Stock, who started fixing and flipping houses on New … [Read more...]
Four Letter Word I’m Celebrating this Labor Day
Your Survival Guy wants to share a personal story with you. It’s from a client who’s finally calling it quits. Dr. Lee Payne and I have been working together for close to 20-years but when you consider his affiliation with Richard C. Young’s Intelligence Report, we’re talking more like 40-years, and many more to come. Dr. Payne remembers reading Dick’s investment letters, believing in Dick’s philosophy and putting it to work. Dick’s letter was a monthly reminder that helped Lee beat inertia. Lee invested in himself (my favorite investment) and his business, and what was left over he invested … [Read more...]
SHORTAGE: Strikes Push Stressed Economy Toward Breaking Point
The inflation being caused by expectations for Joe Biden's absurd spending plans and the Federal Reserve's irregular liquidity operations has put big companies in a bind. Their customers don't want to pay more for their products, their suppliers want more for supplies, and employees want more money to pay for the rising prices they see in their home budgets. It's a balancing act that not every company is managing with ease. In the face of inflation, Mondelez International, one of America's largest snack companies, developed a plan to cut costs that would reduce the overtime pay many of its … [Read more...]
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