Retirement stampede

Affluent Americans Rush to Retire in New ‘Life-Is-Short’ Mindset

The unprecedented surge in shares and home values during an economic crisis is easing the retirement path for those who have savings and investments.

A repeated theme of mine and this will cause headaches for pension funds. 

Godotists in the Swamp causing panic

"Election Panic" Coming In 2022, Martin Armstrong Warns "It's Going To Turn Violent"

According to a recent poll, 51% of Americans think Joe Biden cheated to get into the White House. The breakdown is 74% Republicans and an astounding 30% Democrats think cheating played at least a part of the 2020 Election outcome. In Arizona, the 2020 Election ballots are finally being audited as court battles to stop it continue. Legendary financial and geopolitical cycle analyst Martin Armstrong is predicting an election “panic in 2022.”

The delusion that there is some kind of steering wheel at the top of the government chain.  California delusionals spread the fiction. Trumpsters spread the delusions. A lot of econs in cahoots.

Battle over tax base

 Biden’s tax plan could hit California hard

A cosmic convergence of events in Washington and Sacramento last week demonstrated how strongly federal and state tax systems are interconnected.

President Joe Biden, it was revealed, will ask Congress this week to nearly double taxes on capital gains of the highest-income taxpayers, on top of an increase in taxes on their ordinary incomes he had proposed earlier to pay for infrastructure improvements.

California’s budget is extraordinarily dependent on those same taxpayers, with the top 1% — about 150,000 tax filers in a state of nearly 40 million — accounting for nearly 50% of the state’s general fund revenues. Much of those revenues from the state’s wealthiest residents come from their capital gains, which have increased sharply in recent years.

Econs need to pay attention. We are not one tax collector, we are competing tax collectors sharing the same tax base. 

California, live or die by stock market

California Is Awash in Cash, Thanks to a Booming Market

Stocks, when high the local governments save pension cash and state government collects gains taxes. 

If stocks tank then California takes down the whole economy.

My Fed solution for bitcoin

 Just the libertarian math past of me has this idea.

Bitcoin-Fedwire Gateway Market

My latest passion is reselling Fedwire services. 

The Fed can make money by provind a neutral service via direct bitcoin-dollar exchanges. Put up an automated market, Btc to Fedwire, and back. The Fed takes ten percent. They have a near CB monopoly in the USA.

Wyoming and Vermont being asked to bear all the new debt for California bailouts

Joe Biden’s multitrillion-dollar “infrastructure” bill is looking increasingly like a non-starter in the Senate this week. And as usual, the fly in the ointment is West Virginia Senator Joe Manchin. While Chuck Schumer and his allies continue their plans to try to jam the bill through on a party-line vote via the reconciliation process, King Joseph has been huddling with some of the more moderate Republicans and talking about a considerably more modest bill that is actually confined to real infrastructure projects, coming in with a price tag somewhere between $600 billion and one trillion dollars.

These two states, and Alaska do not get fancy choo choo machines. They are not looking for labor union perks, nor pension bailouts. They would prefer cash.  Come up with ffty billion in cash to the small state capitals and the deal is done.

Our Mao, son of Marx

 New Chinese Decree Forces Religious Leaders To Actively Support Communist Party

Hallowed be thy revolution

Xi's kingdom come, the socialist won

In China but not quite  Taiwan.

The ten year yield, down to 1.55%

I have three theories, 

1) Saudis done it with increase oil production which is breaking the petrodollar system

2) Jay is into yield curve control and hiding the process.

3)  FX insurance is cheaper because the other fiat currencies are weak.

A bit of time will sort it out, not me. I lack the info to figure this out  and do not want a big research project.

Chart, total government interest rate:

It has been stepping down in slow steps coherent with each new regime in the Swamp.  But one has to add a half point, the siegniorage taxes collected by the Fed.

This is information about to be learned/ Was Truman correct when he said the natural government rate is 2%?

Her entire career was based on systematic racism, and sexism

Lindsey Graham Says There’s ‘No’ Systemic Racism In U.S., Citing Kamala Harris As VP

She is where she is because she affirmatively acted on color-gender. Racism is the law in California.

Tax base wars

The Heroic Congressional Fight to Save the Rich

A handful of Democrats want to hold up a $2 trillion infrastructure bill to save a choice tax deduction for the wealthy, not that you'll hear it described that way

Both California and New York wants to sve the richj so they can tax them, not the Swamp.