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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (10774)	12/28/2020 9:22:21 PM
From: Kirk ©	1 Recommendation Recommended By Da Rookie Read Replies (1) \| Respond to of 26796

Something I've been implying / hammering in my newsletter is they figured out a way to tax savers... you can't tax leeches. You can't tax people who spend every dime they make unless you get it as sales tax or income tax. Those who have enough to not work... need to go after their cash. I figured this out when I listened to an interview with Hillary and Laura Tyson on the radio back in the early 1990s when she was tasked with figuring out heath care. She said she wanted to tax IRAs by about 2% a year to get at that money ahead of time. I sort of figured it out... that you can do that "unofficially" with low rates and money printing. Give someone 2% for their money that should get 5% for and you've gotten a 3% tax! The ONLY way to combat that is buy HARD ASSETS and assets that spin off inflation adjusted income. You KNEW they were screwing with the inflation calculation to lie about it. Inflation here in Taxifornica is HUGE. They even admit it in the monthly inflation update where we're regularly about 3.2% when the average for the country is 1.8%... compound that over 30 years and we're as F'ed as we are today. I thought about buying Gold but thought it was silly to pay someone to store it and then they get the "enjoyment" of looking at it... so I did one better and bought Los Altos land with an old house on it so I could at least enjoy looking at "my gold" sitting under my house. After a 6x gain... I'd say I did OK but I really need to update the house inside.... Your lumber worked out well. Climate change and CA wildfire mismanagement makes if all that more valuable.... HARD assets also include original, not "restored with phony metal" cars that Leno and Coffee and Cars guy loves... Steinfeld. Things they don't make more of.