Your Unbiased Advisor: What can you do with your bankrupt stock?

Will we pay higher taxes to continue subsidizing the rich?

Even Wall Street execs know that taxes will go up to cover the debt Trump created with the 2017 tax breaks. Finance billionaires benefited more than just about anyone from President Donald Trump’s massive tax cuts. “Taxes have to go up -- and it will go up at the upper end,” Leon Cooperman, the outspoken hedge fund veteran. The 2017 law slashed corporate rates to 21% from 35%. That has since helped the nation’s biggest banks churn out record profits and given a boost to rich Americans despite Trump’s promise that they “will not be gaining at all.”

Quit paying for their taxes: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Is this socialism or capitalism?

Government subsidizes food products so big farms always have profits

Gov gives tax money every year to oil, gas and mining companies Bonus year 2020

Gov gives tax money to wealthy farmers NOT to grow food

Gov gives tax money to wealthy Congress people who claim as ‘farmers’

Gov gives cheap loans to huge companies to make profit on sales worldwide

Gov gives subsidies to banks (even foreign) to assure them of profits

Gov gives tax money to bailout financial firms that made bad gambling bets

Gov gives tax money to any industry that has lobbyists to help elect our Reps

Gov allows certain Reps to use insider information from job to profit

Gov helps the most profitable companies: they have lobbyists who guide Reps

Which Gov uses tax money to enrich the rich? Russia, China or America?

All three: https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584

Will Trump cut SS benefits to cover his 2017 tax break deficits?

Social Security and Medicare would be on the chopping block in a second Trump term. Pointing to rising deficits, Republican senators have all but promised to gut entitlements if Trump gets four more years. Sen. John Barrasso (R-WY) was even more optimistic. “We’ve brought it up with President Trump, who has talked about it being a second-term project,” Barrasso said. Senate Leader Mitch McConnell (R-KY) has made no secret of wanting to cut Social Security. In his 2016 campaign, Donald Trump said bluntly, “I’m not going to cut Social Security like every other Republican.” However, we know from our daily experience that Trump often says what is expedient at the time. Surprisingly, Dems are not using the issue to hold Congressional seats. The greatest irony in Republican’s “starve the beast” mentality is that Social Security does not even affect the deficit. So perhaps it’s not really about the deficit after all. Luckily, Trump can’t sign an order to cut the income for the 60% of retirees who count on SS benefits for half their retirement income.

Maximize your SS benefits: https://www.amazon.com/Maximize-Social-Security-Benefits-Retirem/ent/dp/1495439224

What can you do with your bankrupt stock?

Neiman Marcus said it is filing Chapter 11 to restructure operations. 500 employees will be gone in months. A Chapter 11 restructuring could also wipe out debt and equity, create new ownerships and let the company close its underperforming stores, all while still operating. Chapter 11 bankruptcy signals that the company is asking the court to protect it from its creditors until it files a detailed plan for how it intends to recover financially. If the court accepts the plan, the company may renegotiate its debts, drastically cut its costs, and resume doing business. Over time, it may thrive and emerge from bankruptcy (or not). Common stock shares will be practically worthless at the moment, and the shareholder won't be able to sell the shares because no one would want them. There is at least a chance that the company will indeed recover and their shares will regain some of their value. Other public companies headed to court are J Crew, JC Penney, Forever 21, Pier 1, Modell’s as well as some restaurants.

Go with Vanguard’s Best: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Why does the stock market go up when employed goes down?

It makes no sense. In the 1930’s the Great Depression, markets and jobs fell. Now we have the opposite. Answer: anticipation: stocks have rallied aggressively off their March lows as Wall Street becomes increasingly optimistic about a reopening of the economy. Despite dismal economic data and first quarter corporate earnings reports, stocks have looked beyond the near-term turmoil caused by coronavirus. The market has moved higher—back to May 2019 level as several states—including Georgia, Florida, Texas and California—begin to reopen businesses and lift coronavirus lockdowns. The S&P 500 has bounced back more than 30% from its low in late March, now just 15% off a record high. The Nasdaq is more than 35% off its lows and on Thursday moved into positive territory for the year. Money managers don’t want to face the fact that the economy may take years to return to its old self. Wall Street optimists expected reports to be worse so they are buying back what they sold a month ago. They need to show positive activity.

Stocks for the long-term: https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409

Which annuity is best for you?

Sinking your money into an annuity at this time is not smart. Current interest rates determine your eventual monthly payout—either now or later. Insurers offering fixed annuities are buying very low rate bonds with your money. Insurers offering variable market rate annuities are trying to find a hedge on market volatility. They structure the annuity contract so they don’t lose money and set the fees to make money. You have better alternatives to locking in your contribution forever; buying future income that will be cut in HALF by inflation; paying income taxes instead of lower capital gains on your future income and paying more in costs than you gain in tax-deferral.

Check alternatives before no-refund buy: https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Advisors get paid less so changing your fee rates

Sixty-six percent of advisors said their compensation came from AUM-based (managed assets) fees. So even if you do not get any services from your advisor, they get paid less since the portfolio they “manage” is less now. Advisory firm are changing to “advice-based” fees to take more of your money. The owners need more revenue. This is justified by advisors promising to cover health care issues and family-legacy planning. Firms will “move from fixed compensation to variable compensation with profit-based bonuses, since that allows firms to easily trim compensation during a down market like this without having to reduce compensation directly or do layoffs,” one planner said. Advisors are not likely to raise security trading fees during this volatile market time, but fees will be imposed for any request that takes more effort, like review of a retirement plan. It may be time to switch to a fee-only planner so you can control your fees wisely.

Shop for planner: https://www.amazon.com/Get-What-You-Want-Simple-FINANCIAL/dp/1514751151

**********ACCOUNTABILITY**************

Like 1776, this period is a test of democracy—do we really want ‘low-IQ’ Mobster?

If it takes a village, the village idiot is in charge: “metrics up here” (his head)

Mobster declares: “We have the right to do whatever we want”

"I could stand in 5th Avenue and shoot somebody”

Supremes: US leader IS above the law?

Mobster’s felons go free

A crisis brings out the worst in would-be dictators: Easy to end democracy

Anti-democracy judges approved by Senate

Anti-voting laws enacted in GOP states

Lying kills a just world