augustus

@Rick M he doesn't have the same feelings for you, as you do for him.  It is what it is. Please don't extend him money again.  

9 hours ago, Kevin Slater said:

I posted the 2023 article and rate.  Thanks for the correction.

You are welcome.  You know, a fixed rate of 1.3% plus the inflation rate is not bad.  If you hold the bonds for the full 30 years (and still alive) you get about 40% real return.  It is very important to take inflation into account these days with the National Debt so high, worse than in 1945 to pay for war spending.  Are you aware that the war bonds issued during the war years had a 10-year maturity and paid 2.5%, with no CPI adjustment?  But the CPI soared 30% from 1946-1948 as the government printed money to pay its enormous debts, resulting in serious losses for the savers.  

The new rate for the next 6 months is 4.28%.

Treasury Department announces new Series I bond rate of 4.28% for the next six months

WWW.CNBC.COM

---

The U.S. Department of the Treasury announced the new rate for Series I bonds through October 2024.

On 4/26/2024 at 8:08 PM, BuffaloKyle said:

Philadelphia based Republic First Bank was shut down today by Pennsylvania state regulators. All customer accounts will become Fulton Bank accounts and all funds up to $250,000 are fully covered by the FDIC. All Republic First Bank branches will also become Fulton Bank branches immediately as well. This is the first bank failure since Nov. 2023.

And this bank failure (not a large one at $6 billion) will cost the FDIC $667 million.

And as I've been saying for months, the official numbers understate the real rate of inflation:

The 'supercore' inflation measure shows Fed may have a real problem on its hands (msn.com)

The latest economic reports of April 25, 2024 show GDP decreasing and inflation accelerating!  Stagflation is returning, like I've been saying for a year.  

First it was reported that Simpson died surrounded by family.  Now it's reported he died with one person with him.  Probably his attorney, who is paid by the hour to do so.   

This guy takes a lot of supplements which can damage the liver and kidneys.  

Straight for sure.  And for the same reason most people prefer straight go-go dancers. 

Traditionally, they say hold 5% of your net worth in gold.  It protects against runaway inflation and war.  As far as the present price ($2400/oz as I write this), a historical measure makes it overvalued.  Gold is supposed to protect you against the depreciation of paper money.  Gold was $35.00 an ounce in the 1930's.  If you track that to the CPI since the 1930's, gold should be about $750.00 an ounce today.  It's 3 times that today.  It doesn't mean it won't go to $3,000/oz but right now it's expensive relative to the long-term depreciation of the dollar caused by inflation.  I don't know what to tell you.

In the late 90's and early 00's, it fell to below $300 an ounce and below the trend line.  

On 4/9/2024 at 7:21 AM, Cash4Trash said:

Not an expert and may be talking out of my butthole but I believe the 2017 tax package giving 1.8 trillion to the wealthy also included a clause that taxes would go up this year and again in 2027 (?) for middle income earners. It's an offset for the millionaire tax gift. 

No.  Everything just reverts back before the tax cut.

26 minutes ago, Jarrod_Uncut said:

Because if we go there, then we need to include all the examples. OJ wasn’t the only person who got off Scot free. Lot of other people have done some dirt and got off too. 

Yes, that's true.  But I can't think of any other situation where millions of people cheered after an acquittal for a double murderer in this country.  Have a good night.

1 hour ago, Jarrod_Uncut said:

People die everyday. People get killed everyday. I live near Kansas City, but I don’t fuck with Kansas City because everyday it’s another story about someone getting shot or killed for no reason. 

Is that your version of a straw man fallacy?  Only in the Simpson case did millions of people cheer.  

OJ was a despicable person on many levels. He killed two innocent people, did not show any remorse at any stage of his life, and bragged about it. His narcissism was so malignant that he wrote a book ("If I Did It") mocking the dignity of Nicole and Ron. It also prevented him from asking for forgiveness in his last days when he knew his end was near.  I find it ironic that OJ's friends (Johnny Cochran and Bob Kardashian), who defended him, died of cancer, too.

26 minutes ago, sniper said:

Good grief. I don't remember anything like that reaction. I remember quite a few black coworkers pissed at the insinuation the jurors acquitted for no reason as opposed to the cops' bungling the case.

They were just patronizing you.

It is amazing how people will rationalize anything because of their petty ignorance's and prejudices.   This is why most nations don't have jury trials.  

12 minutes ago, sniper said:

Good grief. I don't remember anything like that reaction. I remember quite a few black coworkers pissed at the insinuation the jurors acquitted for no reason as opposed to the cops' bungling the case.

Oh please.  Simpson's DNA was found ALL OVER THE PLACE, including Simpson's socks found at his home and also the victims blood found on a glove at his home.  Blood in the Bronco.   Fibers that were only used in the 1993-1994 model year Ford Bronco, the same car that Simpson owned, were found on both victims, the knit cap and on both gloves.  And much more.  Oh yeah, it was a big conspiracy involving dozens of doctors, nurses, the cops and independent labs to frame OJ.  Yeah, that's the ticket.  

I'm glad Fred Goldman lived to see this day.

STONE COLD KILLER, nothing else should be said.   RIP to Nicole Brown Simpson and her friend Ronald Goldman.   I remember when the verdict came out and most blacks jumping up and down with joy.   It really gave me a strong wake up call to Black America's racial vengeance.  Anyone who doesn't believe that is seriously naive. 

1 hour ago, BOZO T CLOWN said:

But God is not the OJ jury. God won't be conned by this vicious POS ..... he's already shoveling anthracite in the hottest corner of Hell .....

He's gone to a place where he won't be judged by a BLM jury, but by what he did.

I wanna show you this magic trick. watch closely, 

when I bought this large box of soap, the price had just gone up 50 cents, from $10 to $10.50

5% inflation, right?

I’m now going to put a black cloth over the top of the box…….mmm, hocus pocus, lose your focus.

with a wave of my hand, I’m going to raise the price by 50 cents again. it will now cost $11

then presto, I snap awayyyy the black cloth…….and……the rate of inflation is now 4.75% !!!

do the arithmetic yourself……it’s kind of a sleazy parlor trick, but it will amaze your friends.

the magic ‘falling rate of inflation’ illusion…….what made it do that? ( hint : compounding ) every month I add 50 cents to the price, and the rate of inflation falls even further….wow.

$10.00 + 0.50 = $10.50, rate of inflation = 5.00%

$10.50 + 0.50 = $11.00. rate of inflation = 4.75%

$11.00 + 0.50 = $11.50, rate of inflation = 4.55%

$11.50 + 0.50 = $12.00. rate of inflation = 4.28%

the red herring here is that steadily rising prices appear as falling inflation.  You know...TRANSITORY.

Anyone can see we have had massive inflation and a steadily dropping standard of living the past 3 years and no end in sight!

42 minutes ago, Jim_n_NYC said:

I guess overreaction is the name of the game.

Transitory...........for 3 years. 

4 hours ago, BOZO T CLOWN said:

I heard a great line:
Q. What is the most expensive vehicle to operate in the US today?
A. A grocery cart.

 

Absolutely correct!  It would be interesting to know what the actual inflation rate is, versus the official, heavily massaged and manipulated rate is.   The average middle class family does not need statistics spewed from the "talking heads and experts".  They just need to look at their grocery bill, their utility bills, their fuel costs, there insurance costs, and their checking account balance.

Just read on Bloomberg News that the government does not include home insurances costs in the CPI numbers, and a lot of other things too.  Taking into account the rise in home insurance rates would have added, by itself, 0.8 % to 2023's inflation rate.  

4 hours ago, MikePDNA51 said:

government borrowing money is not like me or you borrowing money.  Remember the USA government has the primary reserve currency. When countries to foreign exchanges they use USA dollars.  Taxes, due at the end of the week, will obviously pay for a lot. 

What you are thinking is that the US government can never default because the Fed will print dollars to pay off the debt.  That is technically true BUT it will be highly inflationary at the very least.  Like the double digit inflation after WW2.  People who have savings will be devastated.  And the US dollar may not remain the world's reserve currency with rapid inflation.  People hold on to US dollars to preserve their wealth, not to have it devalued by inflation or default. 

On 3/20/2024 at 3:33 PM, stevenkesslar said:

Where's the crisis?

The impact of the massive federal debt is unknowable but in any scenario is not good. Devaluation, hyperinflation and economic devastation are all possible. What is not possible is for nothing to happen.  When you're borrowing money just to pay the interest on the money you borrowed earlier, its game over.