15 TRILLION DOLLAR DEFICIT AND NO ONE IS DOING ANYTHING ABOUT IT BECAUSE OF BLAME PLACING, FINGER POINTING, POTENTIAL FOR FURTHER RATING DOWN GRADING. AND O, HOW I FEEL FOR THOSE IN THE MARKET, ESPECIALLY IF YOU ARE OVER 60. IF SO, I RECOMMEND SEEING A FINANCIAL ADVISER LIKE , WEEKS AGO, MOST PROBABLY MONTHS AND MONTHS AGO. THE MARKET IS IN A FREE FALL TALKS OF FURTHER TRADE RATING DOWNGRADES-BY DIFFERENT RATING AGENCIES. THAT MEANS THE DOLLAR IS LOSING VALUE AND EXPECT YOUR MILK, FOR EXAMPLE, AND CEREAL FOOD PRICES TO START CREEPING UPWARDS, ALREADY, IF YOU ARE ONE OF THE CONSUMERS WHO HAS TO CHECK THE PRICES ON THE BOX, BEFORE DROPPING THE CEREAL BOX IN THE CART. MANY ECONOMISTS SEE A BUMPY BUMPY ROAD AHEAD BEFORE IT GETS BETTER AND MORE AND MORE OF LATE, WHEN WILL IT GET BETTER? THE ANSWER TO THAT QUESTION IS PROMPTED BY ANSWERS GIVEN BY THE PUNDITS ON YOUR TALK SHOWS. THE SO CALLED EXPERTS BECAUSE EVERYONE SEES THAT GOVERNMENT HAS LOST THE DIRECTION FOR MANAGING THE NATION'S OPERATING AFFAIRS WHICH IN TURN IS 'RATTLING' THE CONFIDENCE OF OUR INTERNATIONAL-SO CALLED-FRIENDS. DID YOU CATCH IT THE OTHER DAY? THE RUSSIAN PRESIDENT, PUTIN, CALLED THE UNITED STATES A 'TERROR TO THE WORLD'. OUCH!! THAT MORE THAN STINGS. IT SCORCHES! CHINA, THE BIGGEST HOLDER OF AMERICA DEBT IS VERY, VERY CONCERNED ABOUT THE APPROACH W HAVE TAKEN TO GET OUR 'FINANCIAL HOUSE IN ORDER' OR..YEAH! THE IMPLICATION IS LEFT THERE, THAT SUGGESTION AMERICA MAY NOT BE THE SAFEST PLACE, THE WORLD'S RESERVE CURRENCY SPOT BEING DISMISSED ALSO.
WHY AM I GOING WHERE I'VE GONE? IT'S SIMPLE! GET READY FOR A BUMPY, BUMPY RIDE READERS, ECONOMICALLY FOR THE PROXIMATE FUTURE, LIKE NOW. SOME OF YOU HAVE CASH AND PLAN DO THINGS LIKE PRE-PAYING HOME MORTGAGES-SEE YOUR FINANCIAL ADVISER AGAIN OR EXPERIENCED REAL ESTATE ATTORNEY. REALLY WATCH BORROWING UNLESS YOU HAVE CALCULATED YOUR 'BANG FOR THE BUCK', PRETTY CLOSELY TO THE 'BARGAIN' YOU INTENDED GAINING. HERE IS WHERE YOUR ADVISER IS REALLY WORTH CONSULTING; HE OR SHE WOULD PROBABLY ADVISE AGAINST THAT MOVE OF PREPAYING HOME MORTGAGES OR ASK YOU TO 'SHY' AWAY FROM SOME HOME FORECLOSURE DEALS. MY WIFE THOUGHT WE HAD ONE OF THE 'SWEETEST' FORECLOSURE DEALS-WENT SOUR AFTER ABOUT A YEAR, TWO MONTHS-WE WERE DEFRAUDED. HARD TO KNOW WHEN THAT CAN OCCUR, EVEN WITH ATTORNEY WHO MAY BE PART F THE FRAUD SCHEME. PAY DOWN CONSUMER DEBTS SUCH AS CREDIT CARDS, CAR LOANS, ETC. AS THE DOLLAR WEAKENS AND INFLATION RISES, CONSIDER PUTTING YOUR MONEY IN OR LETTING IT STAY IN SAVINGS WHILE KEEPING AN EYE OUT FOR SOME INCREDIBLE 'BARGAIN OPPORTUNITIES WHICH USUALLY ALSO APPEAR IN UNCERTAIN TIMES LIKE WE ARE IN CURRENTLY.
AND NOW, LET'S 'JUMP TIME' ON YOU. LET'S GO WAY OUT AS THE CONTRARIAN I AM, BUT I AM NOT WITHOUT GETTING MY FACTS OR HAVING THE KNOWLEDGE OR EXPERIENCEIN WHAT I AM ADVOCATING. SO HERE GOES: AMERICA DOESN'T HAVE A SOCIAL SECURITY , MEDICARE OR MEDICAID ENTITLEMENT PROBLEM. YOU SENIORS, THOSE EXPECT TO BE ELIGIBLE SOON, YOU NEED NOT WORRY EITHER. I HAVE BEEN RUNNING A SOMEWHAT LENGTHY SERIES ON SOCIAL SECURITY AS AN 'INVESTMENT' PROGRAM ON MY FACE BOOK NOTE PAGE-YES, YOU ARE WELCOME TO JOIN ME THERE (STARTED OUT IN 1935, COMPULSORY, IT WAS AN INSURANCE PROGRAM) BUT NOW IT HAS BECOME PROBABLY, AS I'LL SHOW BY EXAMPLE LATER, THE BEST INVESTMENT VEHICLE EVER TOBE DEVISED BY MANKIND, IN THE HISTORY OF THE WORLD, AS THE WORKS OF THE WORLD GO. O, LET ME STATE AGAIN, UN-CATEGORICALLY, UNDENIABLY, WITHOUT APOLOGY, THE 'BEST' INVESTMENT PROGRAM, EVER DEVELOPED BY HUMAN BEINGS. SOME MAY WANT TO TAKE ME ON FOR MAKING SUCH A DASHINGLY BOLD REMARK. AND NO, I HAVE NOT ADDRESSED THE 'FAIRNESS' PART YET, ONLY THE BEST 'INVESTMENT'! AND NO IT, THE SSA SYSTEM IS NOT ALWAYS FAIR, EXCEPT "WHEN IT'S YOUR TURN"! AS FOR IT'S PERFECTION, SURE I'LL GIVE YOU THAT BUT RETURN WITH, DO YOU KNOW ANYTHING OR SYSTEM MAN HAS CREATED WHICH IS PERFECT. WHY IS SSA SUCH A GREAT INVESTMENT, AS I MAINTAIN? IT'S BECAUSE OF ITS COMPULSORINESS FEATURE. YES, EVERYONE HAS TO CONTRIBUTE TO IT PER THE FINANCIAL INSURANCE CONTRIBUTIONS ACT OF 1935 (YOUR FICA TAX, THE FORM W-2 SHOWS). EVEN THE EMPLOYER HAS TO MATCH IN VARIOUS PROPORTIONS, THOSE TO YOURS. THE SELF-EMPLOYED ARE TO CONTRIBUTE TOO, BY LAW, WITH AN IRS SELF-EMPLOYED TAX-DEDUCTIBLE ALLOWED FOR DOING SO. FOR THOSE OF YOU WANTING TO KNOW WHY THE LARGE NUMERICAL FIGURE IS IN THE HEADING TO THIS BLOG POST-IT HAS A LOT TO DO WITH THE COMPULSORINESS OF THE SOCIAL SECURITY TRUST FUNDS CONTRIBUTIONS COVERED EMPLOYEES MUST MAKE TO THE FUNDS, NOT AS TO PUTTING YOUR CONTRIBUTIONS INTO A PERSONAL ACCOUNT, BUT POOLING YOUR CONTRIBUTIONS WHERE THEY BECOME FUNGIBLE-SIMILAR TO PUTTING QUARTERS INTO A SODA MACHINE, YOUR SODA COMES OUT, BUT NOT NECESSARILY YOUR QUARTER-WHICH SOLELY MADE THE PURCHASE POSSIBLE-A 'POOL' OF QUARTERS HAD BEEN INSERTED AHEAD OF YOURS. THE SOCIAL SECURITY FUNDS(3) CONTRIBUTIONS SHOULD BE LOOKED AT IN THE SAME WAY. THE FUNDS FUNGIBILITY CHARACTERISTIC IS THE ACCOUNT WHICH IS TAGGED TO YOUR SSN. TH SOCIAL SECURITY ADMINISTRATION IS THE MOST EFFICIENTLY RUN IN GOVERNMENT-ON .83 CENTS OF EVERY DOLLAR APPROPRIATED FOR THE SSA's DAILY WORLDWIDE OPERATIONS.
I BECAME AN EMPLOYEE OF THIS AMAZING GOVERNMENT AGENCY RIGHT AFTER FINISHING COLLEGE, IN JUNE 1968. I WAS PROMOTED A MANAGER-OPERATIONS SUPERVISOR-OCTOBER 1973, IN WHICH I WAS ALSO A MAJOR SSA SPOKES PERSON, TRAINER-INSTRUCTOR, LOCAL DUTY STATION AND AS A MEMBER OF THE DISTINGUISHED SSA NATIONAL CADRE OF INSTRUCTORS AND ADVISER TO SSA's BALTIMORE-SSA's HEADQUARTERS OFFICE OF TRAINING, AS WELL AS TO THE ATLANTA REGIONAL OFFICE OF TRAINING, WITH MY OFFICIAL DUTY STATION ASSIGNED TO ME WAS THE BIRMINGHAM, ALABAMA DISTRICT OFFICE. IT WAS FROM THIS SSA BIRMINGHAM OFFICE LOCATION THAT PRESENTED ME WITH THE OPPORTUNITY TO ANNOUNCE TO THE NATION-ON RADIO AND NBC AFFILIATE TELEVISION IN THE CITY, THE NEWLY PASSED LEGISLATION BY CONGRESS UNDER TITLE 16 OF THE SOCIAL SECURITY ACT, CALLED THE 'SUPPLEMENTAL SECURITY INCOME (SSI) PROGRAM-IN DECEMBER 1973. I HOPE THAT TIDBIT OF INFO HELPS BOLSTER THE CLAIMS I HAVE MAD AND WILL BE MAKING OVER THE NEXT SEVERAL DAYS AS WE WAIT NERVOUSLY, WHAT OTHER SHOCKING NEWS WILL BE VISITED UPON OUR REPUBLIC. READERS MAY WANT TO VISIT THE FOLLOWING WEBSITES FOR MORE IN DETAIL ON SOME OF THE INFORMATION GIVEN ABOVE. THE IRS SITE: WWW.IRS.GOV. SSA's SITE: WWW.SSA.GOV.
Posted By: Bill Cooper
Tuesday, August 9th 2011 at 8:23AM
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