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Jailbreak Coming M2M 12/30/09

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Radio Free Wall Street 12/30/09

Russ Winter joins Lee Adler to discuss the current state of the market and the disconnect between expectations and reality, and the timing of a market “jailbreak”.

 

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audio_mp3_button.png Radio Free Wall Street 12/30/09 [30:00m]: Play Now | Play in Popup | Download

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While you're waiting, here's about 15 minutes of Kennedy Center Honors for all you Mel Brooks fans. Third segment is particularly entertaining.

 

 

http://www.youtube.com/user/LateNight2016#p/u/6/p73pGudZ9Vg

 

http://www.youtube.com/user/LateNight2016#p/u/7/jqoGHJfGwbw

 

http://www.youtube.com/user/LateNight2016#p/u/5/niWuwipRdx0

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By the way, what I have read is that the estate tax is completely repealed for estates over 7 million, but if it's worth 3.5 million or less, the heirs have to pay capital gains tax on anything like the house, appreciated securities, etc. So, people with relatively smaller estates end up paying MORE tax than they would under the old law, while the very rich get out of jail free.

 

What a surprise.

 

EDIT: yep, that article posted by Jorma confirms it, but being the Wall Street Journal and all, they didn't spell it out the way the article on Yahoo did yesterday -- the lapsing of the current estate tax law hurts the heirs of anyone who has less than 3.5 million, who now will have to compute capital gains on everything and pay 62% to the government, while those with greater than 3.5 mill don't have to pay at all. In the past people did not pay capital gains, just paid a straight estate tax.

 

I don't think it's accidental that they didn't pass the extension. Should actually generate much more tax from the middle class than they will lose from the very rich.

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I dumped my Johnny Deere putz today for a slight gain. I wasn't expecting much considering the lack of volume and volatility, but it was really mostly an effort in futility. I will reconsider DE and some of the other trash putz candidates next year. I will probably get up early again and maybe mess around with sugar for a bit, but my trading for 09 is pretty much in the books. Til next year....

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By the way, what I have read is that the estate tax is completely repealed for estates over 7 million, but if it's worth 3.5 million or less, the heirs have to pay capital gains tax on anything like the house, appreciated securities, etc. So, people with relatively smaller estates end up paying MORE tax than they would under the old law, while the very rich get out of jail free.

 

What a surprise.

 

EDIT: yep, that article posted by Jorma confirms it, but being the Wall Street Journal and all, they didn't spell it out the way the article on Yahoo did yesterday -- the lapsing of the current estate tax law hurts the heirs of anyone who has less than 3.5 million, who now will have to compute capital gains on everything and pay 62% to the government, while those with greater than 3.5 mill don't have to pay at all. In the past people did not pay capital gains, just paid a straight estate tax.

 

I don't think it's accidental that they didn't pass the extension. Should actually generate much more tax from the middle class than they will lose from the very rich.

 

There's only to things that are certain in life: taxes and death. Not necessarily in that order.

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Latest Story

Beginning Of The End- Professional Edition

December 30, 2009 By Lee Adler This week’s high is within the margin of error of centered moving average projections. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

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Further TSA rant ... I especially like the CNN nooze about nitrosniffing canines.

 

Let me get dat straight:

 

a dog

 

in an airport security line

 

sniffing crotches

 

for underwear bombs.

 

:D

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By the way, what I have read is that the estate tax is completely repealed for estates over 7 million, but if it's worth 3.5 million or less, the heirs have to pay capital gains tax on anything like the house, appreciated securities, etc. So, people with relatively smaller estates end up paying MORE tax than they would under the old law, while the very rich get out of jail free.

 

What a surprise.

 

EDIT: yep, that article posted by Jorma confirms it, but being the Wall Street Journal and all, they didn't spell it out the way the article on Yahoo did yesterday -- the lapsing of the current estate tax law hurts the heirs of anyone who has less than 3.5 million, who now will have to compute capital gains on everything and pay 62% to the government, while those with greater than 3.5 mill don't have to pay at all. In the past people did not pay capital gains, just paid a straight estate tax.

 

I don't think it's accidental that they didn't pass the extension. Should actually generate much more tax from the middle class than they will lose from the very rich.

 

"They" need all the money they can get their hands on, in order to give it to their banker friends. These taxes are in place so wealth can't be passed down, making it easier for the old money to remain in power. People who've worked all their lives and paid taxes every step of the way shouldn't have to give more because they are dead.

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I can't see anyone affording to fly anymore! UFB

 

3 Airline Tickets

 

$183 in Taxes

$120 in Excess Baggage fees (i.e. Checked bags >0)

Cancelled flight home - Priceless!

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I can't see anyone affording to fly anymore! UFB

 

3 Airline Tickets

 

$183 in Taxes

$120 in Excess Baggage fees (i.e. Checked bags >0)

Cancelled flight home - Priceless!

 

and you get an anal probe by a woman with a beard.....I've been around stocks for two decades and have never seen such complacency as I have now "defensively" and "economically"....

 

It may be a day a week a month or three months but no way we make it through 2010 spewing the recovery bullsheet we have been hearing....

 

Hyperinflation already happened.... dot.com bubble....pro sports salary bubble ( still in progress),,,,college education bubble...housing bubble....etc.........this is the unwind and the mad economic scientists are trying to push out the end game....I seriously think people have lost their minds...not here, but in general....WTF happened to the USA ?

 

We consume......................"gadgets" made in China.....thats our economy.

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Further TSA rant ... I especially like the CNN nooze about nitrosniffing canines.

 

Let me get dat straight:

 

a dog

 

in an airport security line

 

sniffing crotches

 

for underwear bombs.

 

:D

it's a livin'

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