Market Watch

   / Market Watch #221  
Until we as a Nation get the Safety Net Social Programs under control by Congress enacting a Law that states, United States Safety Net Programs are for AMERICAN CITIZENS ONLY. The border crisis will continue growing and the US Deficit will continue to grow.

I have a friend who is a retired Marine Staff Sergeant. He recently in a conservation told me a illegal who just appeared in America was better off Financially/ Medically etc than him.

He advised the Reagan signed law on "Double Dipping" or Pension Offset got him when he retired.

"If two-thirds of your government pension is more than your Social Security benefit, your benefit could be reduced to zero. If you take your government pension annuity in a lump sum, Social Security will calculate the reduction as if you chose to get monthly benefit payments from your government work."

He advised he does not receive SS even though he worked for many years and paid into SS after leaving, retiring from the Military.

He advised his health care was provided through the VA. His wife has Medicare and a supplement.

He advised an illegal just arriving could sign up for SSI and receive $914 for an individual and $1,371 for a couple. He would also be eligible for Residential Rental, Electrical, Utility Subsidies (Water -Sewer), Medicaid, Snap (Food Stamps) and a free Cell Phone.

He said damn the wall. Cut off the Social Programs to illegals and a Wall Would not be needed because the free loaders would stop coming.
 
Last edited:
   / Market Watch #222  
The rational of spending often escapes me...

What I have seen is a group that wants something will often use various approaches... ballot, courts or mandate from a higher governing body.

I see this in city and county operations saying their hands are tied... this spending is mandated and often mandated spending consumes the entire budget.

Examples are forced migration to battery powered landscape equipment... city is spending a ton of money buying Stihl back back battery packs yet the corporation yard warehouse is full of 2-stroke equipment.

City sold off all the diesel chippers because not tier 4 final... it's stuff like this that makes no sense to the working guy...
 
Last edited:
   / Market Watch #223  
Yep… the day negative interest rate start is the same day I go shopping for a bigger mattress.

Lots of advanced aged retired hit hard by low CD rates.

Moms neighbor at 93 was beside herself saying her deceased husband left clear instructions to only spend interest but there was no interest to spend…

When you see bigger mattress sales spike, be the first at the bank. If you are late, the bank will be closed and out of cash.

Silicon Valley bank times 1000’s.
 
   / Market Watch #224  
Why is it when taxes are reduced spending increases?

It seems the real disconnect is spending on the Federal Level is independent of revenue.

Unsustainable is right but financial constraints seem not to apply at the Federal level.

Taxes of all kinds are by far my biggest expense and property tax is the worst as it is a tax for simply "Owning"

Sales tax requires a transaction, Income tax require income, etc.

Then there is the value derived from taxes paid? How many 2 million dollar restrooms does it take to rip through a budget or bike lanes to no where?

On a city level not much... police no where to be found and lawlessness has no bounds...

On a State level the State will willing pay more for goods and services and restrain trade based on politics... such as California travel bans to many other States... mandating higher cost energy, forced obsolescence of diesel and two stroke equipment just for starters and this includes tractors.

Your comment is the key —- “spending on the Federal level is independent of revenue”.

Never a good way of managing finances.
 
   / Market Watch #225  
The Fed's levels of spending and debt are at such high levels that it's doubtful anyone really grasps the enormity of it.

When people think it's all free and no one has to pay, that's when you're really in for it.
 
   / Market Watch #226  
Your comment is the key —- “spending on the Federal level is independent of revenue”.

Never a good way of managing finances.
Grandma would say a recipe for disaster...

Maybe there will be the great currency reset in our future?

Could be why so many continue to buy Real Estate with the emphasis being REAL...
 
   / Market Watch #227  
Your comment is the key —- “spending on the Federal level is independent of revenue”.

Never a good way of managing finances.
State Constitutions prevent states from deficit spending or borrowing money. States pass the bills for disaster relief to the Federal Government who has to borrow the money to send to the state, and up goes the Federal Deficit.

This is why when a disaster, man made or weather related happens the Governor of a state declares it as a disaster so they can pass the bill on to the Feds.


Here's a look at the top 8 states that received the most federal disaster funding over the past five years:
  • New York: $16.06 billion.
  • Louisiana: $5.57 billion.
  • Texas: $3.86 billion.
  • New Jersey: $3.57 billion.
  • Florida: $2.61 billion.
  • California: $1.7 billion.
  • North Carolina: $716 million.
  • South Carolina: $555 million.

 
Last edited:
   / Market Watch #229  
Unsustainable is right but financial constraints seem not to apply at the Federal level.

Taxes of all kinds are by far my biggest expense and property tax is the worst as it is a tax for simply "Owning"
And how much is your Federal property tax?

I don't pay any Federal property tax.
 
   / Market Watch #230  
And how much is your Federal property tax?

I don't pay any Federal property tax.
A lot so that it has me scrambling and California really hit hard this year.

I invested in a commercial property as a very junior partner.. like 2% of the shopping center with Home Depot and Lowes and Safeway, etc... plus a Holiday Inn Express... it was just farm land.

The largest investor passed away and another almost as large is in ill health and the vote was to go to cash.

OK... big taxable gain but my funds were reinvested so I got the tax bill but zero cash... if that makes sense.
 

Tractor & Equipment Auctions

2021 ALLMAND BROS, INC. NIGHT LITE TOWER (A50854)
2021 ALLMAND BROS...
Storage Bolt Bins (A48083)
Storage Bolt Bins...
2025 Swict 84in Bucket Skid Steer Attachment (A50322)
2025 Swict 84in...
Pallet of Tile (A50860)
Pallet of Tile...
Lot of 3 Dell Desktop Computer (A48083)
Lot of 3 Dell...
2018 John Deere 645FD Flex Draper Head (A50657)
2018 John Deere...
 
Top