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Money Matters update December 13, 2012 Important Read!~
Marc’s notes:
Well, here we sit waiting for the “fiscal cliff” negotiations to pan out but as I said in the last update, markets rarely discount things twice so although I do expect a minor rally when they announce an agreement, the market has already runs its course on the cliff solution. The cliff if you recall is tax increases and spending cuts set to kick in 2013.
It’s kind of odd how everybody is up in arms about this. I don’t like it either as I will get caught in the Alternative Minimum Tax trap and pay an extra grand or six so I for one hope for a solution. But let’s be real.
The spending is the problem. We don’t have a revenue problem, we have a spending problem, so you know as well as I do, no matter how much we give them, they will spend it and much more.
Just look at the track record.
They overspend EVERY YEAR. Already in fiscal 2013, October we overspent by over 150 billion and in November we overspent by 172 billion.
Run that out a year and its over 2 trillion. Obama promised on 2009 on Feb 23rd, saying, “Today I’m pledging to cut the deficit we inherited in half by the end of my first term in office. This will not be easy. It will require us to make difficult decisions and face challenges we’ve long neglected. But I refuse to leave our children with a debt that they cannot repay — and that means taking responsibility right now, in this administration, for getting our spending under control.”
With the deficit for 2013 already on schedule to be over 2 trillion, that was so far off its laughable. Not that it is all his fault. It’s just that Washington has become dysfunctional and addicted to spending. What Washington doesn’t spend the Federal Reserve prints up.
Just look at Ben Bernanke’s (Federal Reserve Chief) latest announcement (again) 2 days ago. Now on top of QE3 infinity, he promised to keep interest rates at zero (or close to it) even farther out then his last revision and add ANOTHER 45 billion each month (on top of the 45 billion a month pledged last month) to extend the expiring Operation Twist.
On top of that, he pledges to do more if unemployment doesn’t reach 6.5 %. I mean seriously folks; don’t you think we tried this before? We printed up 5 trillion or so and pledged or guaranteed 10 trillion more already (the amounts are so staggering as to be unknown any longer).
FHA and the other mortgage entities have us on the hook for trillions more and we haven’t even added in the wars, occupations, terrorist programs or a hundred other progams that add to those amounts.
This is beyond insanity and anyone who believes these guys can solve the problem by printing colored paper ought to have their head examined.
That anyone puts stock in this failed economic policy is baffling yet all of Washington cannot see what is obvious to all.
ITS NOT WORKING.
This stimulus, bailouts and more is just DEBT. With a 2 trillion dollar bill scheduled just for 2013 alone (that’s more then amassed in the first 225 years since the US inception) we balk at a mere 100 billion a year scheduled cuts in the “cliff” and then further strain the consumer with higher taxes. Taxes in 2013 are set to rise and rise big which will further strain pocket books.
Meanwhile just out today, he FEDS claim no inflation again!
(Reuters) – “Producer prices fell more than expected in November as the cost of energy tumbled the most in over three years, according to a government report on Thursday that showed little inflation pressures in the economy.”
Can you believe this stuff? I can regrettably say but convincingly that the result of this failed and insane economic remedy will lead us to a resolution forced upon us by the markets and nature that will be nothing comparable to anything you have seen in your lifetime. History is without exception to these policies and to what they lead to. No one can say when the straw will be laid to break the camels back but it will be laid and when it is, what comes will be unrelenting and severe.
It will bankrupt millions who are not prepared and probably take even some that are prepared. But with crisis comes opportunity. There are those that survive financially and even prosper. Use the crisis unfolding to prepare and help increase the odds you will be one of the ones that saw the crisis coming, heeded the warnings and took action. They will not tell you when it’s hitting. They didn’t warn you before and they themselves failed to see the crisis before it hit. They indeed caused it themselves and as Einstein said: “Never expect the people that caused the problem to solve it”.
Case in point: We are now within one month of reaching the debt ceiling again!
Almost a year earlier then some previous predictions!
If you have trouble believing any of this, just look for the signs and they will be:
Spin that things are improving despite your situation getting worse.
More programs announced to reign in the massive collapse of banks, corporations, pensions, Federal housing lenders and even entire countries.
Higher and higher deficits with my prediction of a 22 trillion dollar deficit by the end of Obama’s term. (note the 2 trillion dollar deficit now set for 2013 alone). There is a good chance even I will be wrong and we will reach 22 trillion earlier~
The continuation of increasing the debt ceiling and possibly its limit being replaced by “unlimited” ceiling levels to avoid the embarrassing debt ceiling being rehashed every 2 years.
Continuing QE (money printing and asset purchases) by the Federal Reserve to keep the home mortgage market intact and sop up Federal debt to enable all the spending.
Stricter controls on your investments and more onerous invasion into your financial privacy.
Higher taxes and more business regulation driving small business costs even higher.
Higher inflation while the Feds spin the truth that it doesn’t exist.
In conclusion, I could continue but you get the point. Look for these signs. They would NOT need all these programs if things were improving. Just use common sense.
The signs of things truly unraveling will be:
Gold will rise again in an amazing rally with periodic and horrific take downs by the clandestine Fed who hate gold and all it represents (anti paper money).
Interest rates will rise.
War will be forced upon us (they will say) to distract you.
Inflation will rise in brief but unbelievable spurts. Certain items will spike frightfully (happening now).
Derivative implosions (bank bets) will necessitate obvert and covert bank bail outs. Most of these bets will be centered around interest rate bets and gold shorts.
The spin that everything is under control will intensify with interviews and assertions by “experts” not to panic and remain vested in common assets.
More will take place in complicated markets that I will see but are too numerous to mention here but you can trust I will break them down for you and keep you informed truthfully (as long as I breathe and am conscious of course).
For now, keep reading, educating and watching.
All for now,
Marc
Class information on a new Money Class for Women is listed below.
Also another Money Class 1 and 2 is being scheduled. Last information I had was KVMR may not be offering classes or consults anytime soon so you will have to sign up here. If you are interested in any classes, email me. As soon as we have a handful of people interested in Class 1 or 2, we will set a date.
Now you women, read below for a low cost opportunity to experience your right to know your money! Prepare or they will take it from you~!
See Jane Do is proud to announce a women's only seminar with financial consultant and award winning talk show host Marc Cuniberti of KVMR's Money Matters.
Money Management for Women Part 1
Tuesday, January 22nd, 2013
6:00-9:00 PM
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When: Tuesday, Jan. 22nd, 2013 6:00-9:00 P.M.
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Here is the link for more info and to register for the See Jane Do Money Mgmt Class for Women with Marc Cuniberti.
Join us next month by clicking on the link and signing up!
