patrick.net

Amen brother!

I believe OccasionalCortex called this (V shaped recovery) two months ago!

I am soo cracking up right now. The Left will go even more nuts.

I think someone said this before: Trump is the Forrest Gump of politics

Trump farts roses.

Wow. Gonna make a record in the month of May...

TrumpingTits says

I think someone said this before: Trump is the Forrest Gump of politics

How many instances of "luck" working out for Trump are required before you rethink the role of luck.

I didn’t get the full $1200 Wuhan bonus check, but what I got I sent right in.
I made a little money already on it.
I put it in the Roth IRA so I can later spend it tax free.

Roth is the way to go man.

Addendum:
It might be a good time for stocks, some people are predicting a new run up in stocks.

https://abc7.com/is-governor-newsom-speaking-today-4-phase-plan-update-napa/6233649/

clambo says

Roth is the way to go man.

Right. You think they won't be taxing those despite their 'promise'?

V-Shaped, Bitchez.

Lefties (inc. on this board): "OMG, how dare you accuse us of pimping COVID and riots to hurt the economy?"
Reality: Huge Job and Stock Market Bounceback
Lefties: "NOOOO! Fake Numbers! Bad Economy, Bad Economy, stay Down!"

https://patrick.net/post/1332750/2020-06-05-real-time-fact-checking-president-trump-s-bullfucking-shit-on-job-numbers

Holy shit. Tracked down by a Bot in 4 minutes

Stores packed as fuck today.

Booger says

Stores packed as fuck today.

And fully stocked. It was awesome.

TrumpingTits says

Booger says

Stores packed as fuck today.

And fully stocked. It was awesome.

Noticed the same thing when we went out for groceries and a few summer clothing items.. It took me 40 minutes to make a 20 minute drive with all the traffic!

Ahem, these are the correct bills.


You can buy these on amazon btw. They make great gifts for friends. If you owe a friend some money, slip one of these in the middle heh.

Hircus says

Ahem, these are the correct bills.


You can buy these on amazon btw. They make great gifts for friends. If you owe a friend some money, slip one of these in the middle heh.

I like that. May have to grab a few for my friends.

V-Shaped, BITCHEZ!

TrumpingTits says

clambo says

Roth is the way to go man.

Right. You think they won't be taxing those despite their 'promise'?

The main consideration is if you think your marginal tax rate right now is going to be more or less than your marginal tax rate when you retire and start withdrawing. I live in California now and face something near 40% marginal tax rate, so I figure my marginal tax rate when I flee the state is going to be maybe a little lower; therefore: non-Roth works better for me. That said, I set up a Roth decades ago, so I already have a strategic mix of Roth and non-Roth investments from which to draw. With a Roth, I don't think there is any minimum withdraw requirement, so I can save it up for many years and then, when I want to buy that $700k sailboat, I liquidate the entire account all at once without screwing over my tax situation.

SunnyvaleCA says

non-Roth investment

Non-Roth investment means traditional / rollover IRA (i.e., contributions are not taxed), and 401k which can be rolled over to traditional IRA. I maxed out my traditional IRA and 401k contributions to lower my tax bracket when I was working full time.

I retired early around age 45. I rolled over my 401k into my traditional IRA. Then I set up a SEPP around age 45 to withdraw from my traditional IRA without incurring penalty. The SEPP is like an annuity arrangement.

Move to Florida as there is not state income tax. Sales tax and property tax are very reasonable.

You can reach the Bahamas in 1 to 2 days with the sail boat.

NoCoupForYou says

V-Shaped, Bitchez.

I agree with the Federal Reserve forecast of 9% unemployment by end of 2020.

I figured we'd see a 6% to 6.5% unemployment rate in the fall without the coronavirus as the economy was due for a recession. So that 9% includes jobs that were already going to be eliminated.

But I think the long term affect from this coronavirus pandemic is that many employers will leverage work-for-home. That may be disruptive to white collar workplaces.

First impact will be on commercial office space. It could get that bad that commercial real estate owners work to convert office buildings to residential use.

AnyKey says

American Airlines and Delta move to cut thousands of jobs - World’s two largest carriers have been barred from compulsory lay-offs until October

If something like this happens, they'll be hired back pretty quickly.

https://wdwnt.com/2020/06/proposed-new-explore-america-tax-credit-would-grant-up-to-4000-per-household-for-travel-to-hotels-theme-parks-and-more/

I hope to dear lord baby jesus something like this never passes, but I fear it might considering the tourism industry has been demolished.

.

AnyKey says

This week, United Airlines announced plans to terminate over 3,400 management and administrative positions.

It will be interesting to see if a majority of those laid off are at least age 62 and can draw social security as well are past the minimum age (59.5) to withdraw from their traditional/rollover and Roth IRAs.

The airlines can offer buyouts to those who are at least 55.

If they are at least 55, they can withdraw penalty free from their 401k under the "Rule of 55" (i.e., quit or get let go at age 55 to 59.5).

.

I'd prefer that the economy do well sooner rather than later.

But, recall that how shitty the economy is (Obama) has a limited effect on stock market performance.

What strongly influences the stock market is interest rates. I have said this to my friends since 2009, including a smart friend who is a complete dope about investing with a safe filled with silver and gold coins (he's underwater with the silver ones). He has no other financial assets.

I still think they will leave the Roth IRA alone but other taxes will go up which of course still bothers me.

I'm converting some of my traditional IRA to a Roth tomorrow but with caution because the conversion is considered income and I want to keep it down.

It seems the magic figure is about $85,000 for a single filer, more or less. Above this and you start to get fucked a bit worse.

WookieMan says

I hope to dear lord baby jesus something like this never passes, but I fear it might considering the tourism industry has been demolished.

I can see dramatic rises in hotel rates at the beach this summer already.

AnyKey says

zzyzzx says

I can see dramatic rises in hotel rates at the beach this summer already.

The clueless will blissfully pay for that "well deserved" vacation after the lockdown when they would be better off holding on to what they have, paying down their bills and getting ready for round two, and there will be a round two and it will be worse than round one.

Jesus.... I already know what this is. When was anyone paying shit down before this happened? Habits are habits. ZZ is right that prices would get jacked if they passed what would essentially be a vacation stimulus. This is just the tourism lobby talking this up, and I hope to god it doesn't happen as someone that can afford to travel normally and sees that prices will go through the roof.

And what's round two? Are you talking about CV? The amount of brainwashing going on with this virus is staggering. It's real, but it's not what you think it is. The data is, has and will be manipulated. This is fact. Even CDC data. Not sure how so many get fooled so easily.

WookieMan says

The data is, has and will be manipulated.

In this we agree. Where I suspect we don't is in how it has and will be manipulated.