I finished my taxes yesterday. I had done the numbers a week ago, but filling out the forms is really tedious. I suppose I'm not being original in saying that all Congressmen should be horsewhipped every April 15 for creating this monstrosity. There really is no reason why the tax code is not a simple, cash-basis, revenue collection system. The complexity comes from all the accrual accounting and obscure asset and revenue classes, each with their own forms nd worksheets. Arghhhhhh !
Then the States just have to be different, and can't just collect a percentage of the Federal amount. Arghhhhhhhh^2 !
The result: a 30 page federal return plus more for stock trades on Sch D-1, and a 21 page Massachusetts return, including attachments.
Then I had to adjust my spreadsheet to compute the estimated taxes for 2008. Ugh !
At least it's all over but the mailing (of course via certifed, return receipt requested mail).
Market
I'll be watching and reading the Wachovia news this morning. I have quite a bit of that stock & early reports say they moved up their earnings announcement to this morning and are raising capital via a stock sale. I'll comment more on it later after the actual facts come out.
The GE drop Friday on that crappy earnings report seems overdone, but I'll be patient in adding to my position in September 30 call options. This option play is a trade.
Barron's Intermediate grade bond index fell more last week - another 13 bps. It's still too high at 8.21%, but the trend is good.
The monetary base dropped a bit - it's now up only 1.4% year over year. These new Fed policies might be affecting this, so I'll withhold bashing the Fed. I really do want to see the monetary base and M1 increase a lot more. Both have too little growth, despite the uninformed statements of the inflation-mongers on "printing money".
Politics
I guess I'm not surprised Obama knows nothing of the common man, but this quote from him in Iowa sure is telling [from today's online WSJ]: "Sen. Obama has encountered other problems in trying to connect with rural whites. At a campaign stop in Adel, Iowa, he drew cringes when he asked a crowd of farmers: 'Anybody gone into a Whole Foods lately and seen what they charge for arugula?' The upscale, organics supermarket chain doesn't have a single store in Iowa."
Sheesh. What the bleep is arugula, anyway ? The press sure is protecting this guy. If a Republican had said that, it would be front page news and talk for a few weeks. I now think he can't stand up for an entire campaign. Big John McCain is looking better & better.
Words of the Day
Today's are a couple of "moi" words. The French word, "moi" means "me" but today's words are just English words beginning with "moi" and aren't related to the French word "moi".
"Moiety" - noun [$10]
Moiety means 1. a portion or prt or share; 2. a half; 3. either of two basic units of cultural anthropology that make up a tribe of unilateral descent.
Sentence: [from Gen. Sherman's Memoirs, pg 530 re his tactics in the advance to Atlanta] "... that with the one moiety of our army [entrenched] we could hold in check the corresponding wing of the enemy and with the other sweep in flank ..."
"Moil" - noun and verb [$10] archaic
Moil means (verb, intransitive) 1. to toil, slave; drudge; 2. to churn about; (noun) 1. drudgery; toil; 2. turmoil, confusino.
Sentence: (from Goethe, Faust Part I, Great Book vol. 45, pg. 37 said by Margareta/Gretchen)
"Then there were chores or marketing to do,
And the same old thing the whole year through.
With such a moil,
One's spirits are not always of the best;
And yet with our toil
Makes food taste sweeter, so that we are blessed
And grateful for our rest."
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
37 comments:
just read some of the silly posts from friday after i left
the reason no one picks up the cash at Bman's MG event.......is not cuz they are all honest.....is cuz they are armed to the gills with semi-automatics.......you pick up someone's C-notes....and you get your head blown off
sheeeesh 'really polite freindly people'
was Bman takin a shot at me 'really vocally bullish' ???
listen Bman and the rest of you
i am a professional ping-pong player
that's all i am ...nuthin more...nuthin less
it doesn't matter at any moment in time if i am bullish or bearish.......i go in the direction of the ball
if you haven't figured that about me by now......either i did a terrible job of explainin myself.....or ....more likely......you guys are not too smart
friendly people my ass
everyone at Bman's MG event.......is ......uh.....
"bitter"
Obama is a latte drinkin whole foods buyin volvo drivin liberal elite......he has been exposed
wake up white people !!!!!!!
it was just a joke, Bud ... don't be bitter ;-)
today's tax code would make thomas jefferson start another revolution
he believed that a central federal government had no right to tax the citizenry
thomas jefferson would really like today's word
he loved the french....and hated the british.......as i would have in those days too
oh.....that was a joke
Bman with the curveball........my knees buckled
maher was out of control on friday nite. even i was a bit jarred by some of the stuff he said about the catholic church. then i thought about and decided he was right. man oh man he just crushed the church. on the thought of jason alexander shaving his balls, on a airplane, was laughable. but alexander was clever enuff to retort he hasnt seen his balls in some time.
bud swinging for the fences on the first pitch today.
he must thinx he is on the red sox.
die flyers and sixers die!
Listened to the WB call. They seem way too conservative to me. Of course I'm an optimist.
I'd gripe about management pay, but they do hold a lot of stock & get paid a lot in stock, so they are "suffering" too.
I really screwed up my early buys last fall - my recent ones are OK. I might sell the early buys now as I can do so now without generating a wash sale loss.
Ditto on C - same errors - can flip some now for a tax loss.
I meant to do that in December & didn't - a bad error.
An investigation of abuse at the private ranch of a polygamous sect is moving to a Texas courthouse this week as the state argues to retain custody of 416 children removed from their parents.
the craziest story ever, no?
The John Jay Report,[2] commissioned by the U.S. Conference of Catholic Bishops, found accusations against 4,392 priests in the USA, equalling about 4% of all U.S. priests between 1950 and 2002
oh wait a sec, that is much worse!
so what does r fearless leader do with this scumbag of an organization?
The leader of the world's 1 billion Roman Catholics has been to the White House only once in history.
That changes this week, and President Bush is pulling out all the stops: driving out to a suburban military base to meet Pope Benedict XVI's plane, bringing a giant audience to the South Lawn and hosting a fancy East Room dinner.
so as maher pointed out rape a few hundred kids and the feds break down the walls. rape thousands, roll out the red carpet for a nazi.
wheres my barf bag?!?
Decided to hold my WB - I think they are too conservative & did a kitchen sink quarter.
Bud...never understand what you are saying...so we are going lower.
Was Obama's "bitter" comment offensive?
Yes.
689 (31.4%)
No.
1506 (68.6%)
Total votes = 2195
i guess the people of philly dont care about what barrack said. frankly he was telling the truth, whitey just dont like hearing it.
hildog drinking whiskey.
whats next, her sucking down a tank of nitrous, in the parking lot, before a phils game?
obama tossing batting practice for hildog and big john...let's see who wears the bigger cup...game on.
he was being foolish.
u cant tell the truth like that.
fact is a lot of people sux thier thumb, hold a bible, and keep a gat under thier pillow, when sleeping.
I think it was his true feelings and thoughts ... he looks down on the common man.
WB are those real buyers?
he shud look down on the common man!
joe six pack is a bible thumping, slavery wanting, gun toating, living a double wide with their sister/wife trailer trash.
here is what mister buffett says
Way before they both filed, I told Hillary that I would support her if she ran, and I told Barack I would support him if he ran. So I am now a political bigamist. But I feel either would be great. And actually, I feel that if a Republican wins, John McCain would be the one I would prefer. I think we've got three unusually good candidates this time.
i tend to agree, but i just cant stand the clintons! ANY OF THEM!
http://money.cnn.com/2008/04/11/news/newsmakers/varchaver_buffett.fortune/index.htm?source=yahoo_quote
GREAT ARTICLE
WB ... ugh ... that one was at the helmet. Oh the erros I made last fall ... of course some here pointed them out at the time.
errors, that is
frosty just make sure you wear a double cup this week.......................hillary is roaring this week
so i'll be throwin hard and inside
die obama die !!!!!!
not head hunting bunky...you said sell WB, then decided to hold instead...so it is a buy here?
if I didn't own so much, I'd be buying it.
sold 1/3 DVN for about 100% LT gain; bought some more WB.
USD 71.85 -0.36
NIKKEI 12,917.51 -406.22
Crude Oil 111.05 +0.91
Riots from Haiti to Bangladesh to Egypt over the soaring costs of basic foods have brought the issue to a boiling point and catapulted it to the forefront of the world's attention, the head of an agency focused on global development said Monday.
IS THAT STAGFLATION?
$ down, oil 111, food through the roof.
how is this not stagflation?
the food issue caused by stupid government policies & weather, not excess demand (except corn) from too much money chasing too few goods.
oil is a supply problem was there is no more production to add. Hence demand has to be rationed.
wages go up when there is inflation ... who's getting those raises ?
took a total of 1/2 DVN off ... 100% LT sugar ... stock looks extended and no longer cheap and I gotta sell those rips if I can book the LT gains.
this WB add is also a tax play ... after 30 days I can sell all the high cost WB for a ST loss to offset some gold+silver profits and then have a well-priced LT position.
agreed the ethanol idea was about the biggest screw up of dubya.
but arent u agreeing with me?
u acknowledge the elevated levels of inflation. whether its a secular thing or not, isnt really the issue to. it is where we r and where we r headed.
exactly the raises r not coming but "the avg guy" is seeing price rips.
so again, how is that not stagflation?
prcies up, $ down, no one making more money (the avg person)
the average guy is spinning, holding a bible in one hand and a gun in the other.
obama is right about that.
as bill murray says in stripes. "WE R AMERICANS AND THAT MEANS R FORFATHERS WERE KICKED OUT OF EVERY DECENT COUNTRY IN THE WORLD"
or they were brought here as slaves.
nice gene pool
lol
it's not inflation ... it's a re-pricing of some items (oil, food) to the detriment of the rest. It takes time to work thru and for the economy to determine what goes down .. which items go down always takes longer to happen as prices are sticky.
in the 1970s wages went up, but not enough to compensate for the inflation.
so this is worse?
yes...we are all going to die under a mountain of debt as prices explode...this is the end of the world as we know...I suggest moving to france, asap.
isnt that y u have a bunker, frosty?
id rather move to negril jamaica, but france is pretty nice and close to holland
;-)
BSC to shed over 50% of its staff this weekend.
guys in my office chanting "package!" over and over.
me, im just hoping JPM makes me an offer to sux toe jam, for a producer. maybe clean the toilets at nite. really anything wud be just great.
the firm i left in dec, is just about BK.
google ed may and frank bluestein. bluestein was under my 24 for about 5 minutes, then i quit.
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