Societal Commentary – Sun 19 Nov, 2017

By Big Al

Timmy brings up an interesting twist in the affairs of the Clinton’s interestingly enough published in the Washington Post
Scandals force Dems to rethink Bill Clinton

BY KAREN TUMULTY AND KATIE METTLER Washington Post

A torrent of sexual abuse allegations against powerful figures in politics and media has reignited the defining political fight of the 1990s.

But this time, the battle is being waged within the ranks of Democrats and their allies, including leaders of the feminist movement. A growing number now say they were wrong to have so stridently defended former president Bill Clinton against the women who over the years accused him of offenses that included groping, exposing his genitals, and rape.

The uncomfortable question is whether Democrats then were guilty of the sin they accuse Republicans of committing now by continuing to support President Trump and Alabama GOP Senate nominee Roy Moore, despite allegations of sexual offenses: Were they also putting partisanship and their desire to hold onto power above the principles they claim to hold dear?

A remarkable exchange of fire began Thursday when Sen. Kirsten Gillibrand – Hillary Clinton’s successor as senator from New York, a staunch backer of her presidential campaign and a talked-about presidential possibility – told the New York Times that by today’s standards, the “appropriate response” for Bill Clinton would have been to resign when his affair with White House intern Monica Lewinsky was revealed in 1998.

That brought a retort from longtime Hillary Clinton aide Philippe Reines on Twitter, in which he dismissed the president’s affair with a subordinate as a “consensual” sex act. Reines lobbed an additional shot at Gillibrand: “Over 20 yrs you took the Clintons’ endorsements, money, and seat. Hypocrite. Interesting strategy for 2020 primaries. Best of luck.”

In a radio interview with WABC host Rita Cosby Friday, Hillary Clinton deflected a request for response to Gillibrand’s tweet: “I don’t exactly know what she was trying to say.”

During the 1990s, the allegations about the president’s behavior went far beyond the Lewinsky affair, which led to Bill Clinton’s impeachment, after he lied about it under oath during a deposition in a sexual harassment lawsuit filed by former Arkansas state employee Paula Jones. She claimed the state’s then-governor had summoned her in 1991 to a hotel room, where he dropped his pants and asked for oral sex.

At the time, the attitude of many feminist leaders was summed up in a 1998 New York Times op-ed by Gloria Steinem, who wrote that “Mr. Clinton seems to have made a clumsy sexual pass, then accepted rejection.” She was similarly dismissive of other women who came forward with stories of sexual abuse by Clinton before and during his time in the White House.

A spokeswoman for Steinem said she “isn’t doing interviews at this time.”

Thanks Tim

…read more

Source:: The Korelin Economics Report

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Andy Gordon Discusses Bitcoin Futures

By Samuel Taube

Transcript:
Samuel Taube: Joining us again today is Andy Gordon, the co-founder of Early Investing, and today we are talking about the imminent launch of bitcoin futures. Andy, thanks for joining us again.

Andy Gordon: Glad to be here, Sam.

ST: So the Chicago Mercantile Exchange recently announced – I think it was the CEO – that bitcoin futures are coming and that they could begin trading before the end of the year.

Now I wanted to ask if you could briefly explain to our audience how a futures contract would work with bitcoin.

My familiarity with futures is more so for agricultural commodities and things like that, where a coffee farmer can sell the rights to his future crop to a trader. That way he gets a guaranteed income, and the trader can make a profit if the market price goes up. But how would this work with bitcoin exactly?

AG: Well, you’re asking a very interesting question. You know, there’s a long answer, which could take hours.
ST: Could take the form of a college course, yeah.

AG: Exactly. There are somewhat shorter answers, and after I answer this question, I’ll explain to you the theory of relativity, okay?

ST: Right.

AG: So we’ll take care of all the difficult questions right off the bat. I’ll give it a try, Sam. And since you brought up the example of a coffee farmer, let’s stick with that, okay?

So a futures contract is actually made up of two contracts or two sides of a contract: the short side and the long side. The coffee farmer would be the short side. The farmer, the producer, the shipper and the seller – they’re all the short side of a futures contract. And the other side – the buying side, the distributor side or whatever you want to call that side – would be the long side.

So you’re the coffee farmer, and you want to make sure that you get paid a certain amount of money. So you lock into a price for a given period to make sure that you get paid – for all kinds of reasons – so now you know you’re going to make a profit from your coffee beans. You won’t have to worry about…

ST: The weather, supply and all that, yeah.

AG: The weather or some catastrophe coming in the next few months. So what happens though if prices go down? Normally if prices go down, you would suffer, right? You’d be in a tough spot. Maybe you wouldn’t even be making a profit. So if you lock into a futures contract, that futures contract makes up the difference of what you lose. It deposits that money.

So suppose you’re selling your coffee beans for – just taking an arbitrary number – $100 a pound. And so let’s say prices went down to $75 a pound. The futures contract would deposit that $25 into your account to make up for the difference. So what’s the dynamic here? If prices go down, the futures contract gives you money. Prices go …read more

Source:: Investment You

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Ways to enrich yourself recommended by Big Al – Sat 18 Nov, 2017

By Big Al

Something that Big Al is doing that will enrich his life and it isn’t costing him a dime!
Dear Mr. Korelin,

As I’m sure you’re aware, serious tax reform is under consideration in Congress. Many believe tax relief will make America more business-friendly, ease the financial burden on American families, and improve the lives of Americans. And as you know, Hillsdale teaches the fundamental principles of freedom, which are required for free-enterprise and the entrepreneurial spirit to flourish.

For the past decade, many of our economic policies have defied basic free-market principles. What’s worse, these policies represent a return to the idea repudiated by the American Revolution—that some are equipped by nature or training to manage the lives of others without their consent.

I had the privilege of teaching on this subject in one of our online courses, “Economics 101: The Principles of Free Market Economics.” I thought I would share this free course with you to deepen your understanding as Congress votes in the coming weeks.

I hope this course enriches you as our country continues to work towards freer markets and economic prosperity.

You can enroll in this course now here: https://lp.hillsdale.edu/economics-101.

Warm regards,

Larry P. Arnn
President, Hillsdale College

…read more

Source:: The Korelin Economics Report

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5 Steps To Retiring Rich (Step 5)

By Nilus Mattive

This post 5 Steps To Retiring Rich (Step 5) appeared first on Daily Reckoning.

Dear Rich Lifer,

This is the fifth of five roadmaps on retirement accounts.

And, boy… I really did save the best for last.

In fact, I’m going to show you two powerful “hacks” that can:

— Get your money out of an IRA at any point… penalty free. Or…

— Leave it in as long as possible for future generations.

Let’s start with getting the money out.

As I’ve explained before, the IRS typically imposes a 10% penalty on people who take money out of 401(k) plans or IRAs before they turn 59 and a half years old.

Yes, there are some exceptions to this basic rule, including:

Contributions made to a Roth IRA
Some 401(k) hardship withdrawals
401(k) withdrawals that use the Rule of 55
Up to $10,000 from an IRA used for the purchase of a home (if you haven’t owned one in the last two years)
Certain IRA withdrawals used for qualified higher education expenses

But by and large, all you will hear is that there is no real way to universally avoid the 10% early withdrawal penalty.

Enter a method called “substantially equal periodic payments” (SEPP). It’s made possible by Section 72(t) of the Internal Revenue Code.

As the name suggests, this will NOT allow you to get all the money out at once.

But it will allow you to withdraw a predetermined amount every month over a certain period of time.

That period must be at least five years or until age 59 and a half, whichever comes later.

Here are two illustrations that show what I mean:

If I’m age 40 and I want to use SEPP, I will need to take the payments until I turn 59.5 years old. That’s roughly 20 years from now.

Meanwhile, if my cousin is 57 and he wants to use SEPP, he will need to take those payments until age 62 … which is past the normal 59 and a half cutoff.

If you go this route, you need to be committed. In fact, the IRS will actually assess penalties on all the money you’ve collected if you decide to abandon your SEPP prematurely.

You do have some flexibility in how you design the payments though. For details on the three methods and other ins and outs, see this document from the IRS.

Who might want to use SEPP?

Well, one great possibility would be a retiree using the payments to fund their life to a predetermined point in the future when another income will kick in. For example, using the SEPP as a bridge to a delayed Social Security benefit filing.

Someone in my age bracket might also consider a SEPP plan to pay their mortgage in the event of a job loss or some other major life event. They could even start contributing to their retirement plan again in the future, which would essentially wash out the overall financial impact.

Ok, that’s retirement hack #1 for today. Now, let’s cover #2.
On the other end of the spectrum, you can use a …read more

Source:: Daily Reckoning feed

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KER Politics – Sat 18 Nov, 2017

By Big Al Further thoughts on Amazon, “It’s beginning to get suspicious”

The technology giant is no stranger to sweetheart deals that line its pockets at taxpayer expense. The U.S. Postal Service, for instance — which has lost $60 billion since 2007 — handles last-mile shipping for two-thirds of Amazon’s deliveries. This means overtime for workers and a good incoming revenue number on the USPS’s balance sheet, but it’s a financial bonanza for Amazon.

According to media reports, USPS delivers Amazon packages for $2 per package — even though it costs USPS $3.46 per package to make these deliveries. And that’s before you get into the $200 million three years ago for 270,000 handheld scanners to process the packages or the $5 billion or more to replace USPS vehicles with ones better suited to carry Amazon’s packages.

But even this cozy arrangement pales in comparison to the deal Amazon is now trying to push through Congress.

Buried deep in this year’s defense spending bill is a provision that would move Defense Department purchases of commercial off-the-shelf products to online marketplaces.

A summary of the proposal, which was inserted into the legislation by House Armed Services Committee Chairman Mac Thornberry, argues it is needed to save money over the burdensome and expensive current system.

It pointed to a report from the Inspector General of the Government Services Administration that found some IT equipment could be purchased more cheaply on the open market than through the GSA’s “schedules.”

In response, the plan calls for developing an online marketplace platform through which federal agencies can buy products such as paper clips, bottled water, computers, office furniture and more — just as any business would do.

But it also calls for this platform to be designed to “enable government-wide use of such marketplaces.” This means the government is looking only for a procurement and supply management firm big enough to offer multiple suppliers for the same product with constantly changing selection and prices and serve the entire U.S. government.

That leaves just one likely possibility – Amazon Business – for basically monopoly control of $53 billion in federal purchasing, much of the supplies for which comes from no-bid contracts.

Amazon provides a platform for e-companies to sell through to their own customers. It receives 15 percent to 20 percent of the proceeds from such sales, which means a huge revenue stream for Amazon for doing basically nothing while vendors are forced to cough up as much as half their margin.

A government deal with Amazon sets up opportunities for abuse, not to mention control over suppliers. Amazon would get to collect an enormous amount of data on agencies, which could be used to identify top competitors and drive them out of the federal marketplace with increased fees or other rules changes.

And it means any discounts that can be negotiated for the bulk rates of purchasing the federal government does would flow not to the government and taxpayers — but instead into Amazon’s pocket.

Amazon Business, which only started in 2015, already has 1 million customers and $1 billion in sales, and its revenues grew 34 …read more

Source:: The Korelin Economics Report

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Three Income Stocks That Are Saving Lives

income stocks 1

By Marc Lichtenfeld

Editor’s Note: Today’s article comes from Marc Lichtenfeld, Chief Income Strategist of The Oxford Club and head of Wealthy Retirement. His latest research has uncovered a way for ordinary investors to collect big checks from major pharmaceutical companies. Click here to learn more.

I’m a long-term investor. Like Warren Buffett, I’d love to hold a stock forever. Even if that’s not likely, I do expect to keep a stock in my portfolio for five years minimum – preferably 10.

So not only do I look for great businesses, but I want to be invested in sectors with strong long-term fundamentals.

I can’t think of a stronger sector than healthcare.

Sure, technology is vital to our economy and is a source of growth. I like technology.

But can you think of a sector whose products will be more in demand over the coming decades than healthcare?

You may have heard this statistic: In the United States, roughly 10,000 people turn 65 every day.

One thing we know is that the older we get, the more healthcare we consume. Whether it’s from doctor visits, prescriptions or artificial joints, older people and their insurance companies spend a lot on healthcare.

In fact, the average retired couple will spend more than a quarter of a million dollars out of pocket on healthcare. And Medicare and other insurance providers will spend a lot more.

It’s not an understatement when we say your health is the most important thing.

So it makes sense to find the best healthcare companies to invest in for the long term. And since I’m the dividend guy, I want these top companies to pay dividends as well.

Let’s take a look at a few different areas within healthcare for some ideas on where to make money over the long term.
Biotech/Pharma
Bristol-Myers Squibb (NYSE: BMY) was founded eight years before the invention of the radio and is one of the leading biopharmaceutical companies in the world.

It has 30 products on the market, including blood thinners Coumadin and Eliquis, cancer fighters Opdivo and Yervoy, and hepatitis B therapy Atripla. Additionally, it has 35 compounds being studied in clinical trials.

Bristol-Myers Squibb recently scored big wins with new drugs, including Opdivo and Yervoy, that should keep revenue growing for years. That will not only reward shareholders but fund future research.

The stock yields 2.5%.

[iu-adbox]
Medical Devices
Though it still has pharmaceuticals in its product portfolio, Abbott Laboratories (NYSE: ABT) is focusing more on medical devices, diagnostics and consumer products.

Its consumer products division makes Ensure, a nutritional drink for adults that is often used to supplement the diet of a person who is ill.

Its vascular unit has a variety of drug-eluting stents, guide wires and other products.

And Abbott’s diagnostic tools are used in oncology, genetic testing and infectious diseases.

The company has been around for 125 years. The stock yields 1.9%.
Services
Omega Healthcare Investors (NYSE: OHI) is one of my favorite companies in healthcare.

It owns real estate that is leased by nursing homes and assisted living facilities. It’s important to understand that Omega Healthcare doesn’t operate the nursing homes; it is the nursing homes’ landlord.

It …read more

Source:: Investment You

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Weekend Show – Sat 18 Nov, 2017

By Cory The Ongoing Tax Reform Issue and A General Uneasiness In Markets

Download audio file (1118-KER-Full-Weekend-Show.mp3)

The topics of the week were tax reform (again), Bitcoin, and a slow move to the sell side across the board. All of these topics are discussed in this week’s show. Please everyone keep in touch by commenting or emailing me directly at Fleck@kereport.com. I love to hear from all of you on companies you like, thoughts on guests, and topics/questions you would like addressed!

We hope everyone has a great weekend and for everyone in the US a great Thanksgiving this upcoming week!

Segment 1: John Rubino, Author and Editor of DollarCollapse.com shares his worries about the markets. These include a flattening yield curve and massive debt levels.
Segment 2: Ned Schmidt addresses the discrepancy between gold and equity assets.
Segment 3: Lawrence Roulston is back to shares some of the companies he is working with.
Segment 4: We wrap up the first hour with Valentin Schmid and some comments on news around Bitcoin over the past couple weeks.
Segment 5: Big Al discusses the tax bill with Chris Temple.
Segment 6: We continue our discussion with Chris Temple on both President Trump and the Tax Bill.
Segment 7: Mark Bitz author of the Flourish books discusses politics an stagnation in America.
Segment 8: Mark Bitz continues his commentary on the Flourish movement in America.

Exclusive Company Interview and Commentary

An In Depth Look at Osisko Metals

Aequus Pharmaceuticals – Focused In Canada and Building Revenues

John Kaiser – A Focus on Novo and The Other “Pilbara Players”

Segment 1

Download audio file (1118-1-1.mp3)

Segment 2

Download audio file (1118-1-2.mp3)

Segment 3

Download audio file (1118-1-3.mp3)

Segment 4

Download audio file (1118-1-4.mp3)

Segment 5

Download audio file (1118-2-1.mp3)

Segment 6

Download audio file (1118-2-2.mp3)

Segment 7

Download audio file (1118-2-3.mp3)

Segment 8

Download audio file (1118-2-4.mp3)

…read more

Source:: The Korelin Economics Report

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Saskatchewan may set back Canada’s plan to phase out coal by 2030

By analyst

By Valentina Ruiz Leotaud

Saskatchewan, in Canada’s prairies, relies on coal to fire up more than half of its electricity plants. This means that the province is struggling to comply with the federal environment ministry’s plans to phase out the black mineral.

Officials in Regina seem to want incentives, though. This is why this week the local environment minister, Dustin Duncan, said he would like his federal counterpart, Catherine McKenna, to let Saskatchewan get credit for the carbon capture and storage system it has on one coal-fired power plant to offset the emissions from continuing to use at least one other plant without such a system after 2030.

Duncan told the Canadian Press that several plants in the province would have to be retrofitted before 2030 to keep them operating, but there is one that won’t hit its 50-year lifespan until 2042.

“My expectation is and certainly my interest is that the equivalency agreement, the wording, will be agreed to by the federal minister shortly, in the next couple of weeks,” he said to the news agency.

Saskatchewan’s proposal, however, would go countercurrent to McKenna’s plan to never use coal again as fuel for power generation from 2030 onwards, an initiative that she launched this week in partnership with the United Kingdom at the 2017 United Nations climate change talks in Bonn, Germany.

According to the Canadian minister, more economic opportunities would arise by switching from coal to less polluting technologies: “Coal is not coming back. The economic case is clear. The price of solar and wind has plummeted. Clean power is also increasingly the cheapest power,” she said.

The post Saskatchewan may set back Canada’s plan to phase out coal by 2030 appeared first on MINING.com.

…read more

Source:: Infomine

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