Recently I’ve been reading and blogging about USA, Inc., a business view of the US economy. It is lengthy, 266 pages and over 450 charts, but it should be required reading for every American. The problem is the average American reads at an 8th grade level, so not everyone would understand the implications of the report and the warnings it sounds for our economy. Knowing that our readers are smarter than average, but with less time on their hands to go through every page of this report, I’ve decided to blog on some of the analysis the authors present. It’s really that important. Our country is at an economic crossroads, and it’s not about political parties; but about public resolve. Let’s not be like the toad who, when placed in a slowly heated pot of water, will boil to death before realizing that he should jump out. Continue reading
Monthly Archives: March 2011
USA Inc. – Part 1
Filed under Economic Outlook, Government & Money
Mississippi leads nation in “deadweight ratio”
As if Mississippi hasn’t received enough first-place awards for titles we would prefer to not be known for, let’s add highest “deadweight ratio” when it comes to measuring the integrity of our municipal bonds. At least according to Forbes Magazine writer William Baldwin.
Municipal bonds are attractive to high tax-bracket investors because the interest paid on such bonds are exempt from federal income tax. They are also frequently-held assets of fiduciary accounts; often believed to be secure alternatives to taxable government or agency bonds. The principal risks of municipal bonds is credit risk (the issuing municipality’s ability to pay back the bondholders) and interest rate risk (the risk that rising interests rates will decrease the value of lower-interest bonds). According to Baldwin this is only part of the risk investors need to consider. Continue reading
Filed under Estate Planning, Government & Money, Municipal Bonds
Mickey Rooney testifies about elder abuse
Hollywood icon, Mickey Rooney testified before Congress about the abuse he suffered from his step-son and step-daughter. Claiming the pair embezzled over $400,000, locked his refrigerator door, and left him with only enough money for one pair of shoes. The 90 year old actor pleads with Congress to take action against what is estimated at a $2 billion dollar fraud perpetrated on the elderly each year.
Filed under Elder Care, Estate Planning
