Awesome visualization of Obama's proposed budget cuts

By The Daily Crux:

The American public is constantly bombarded by enormous figures about how much the government is spending on this or that or how large the deficit has become... but most folks have trouble understanding just how much money these numbers represent.
So today, we're passing along a short clip that illustrates the federal budget crisis so clearly even a five-year old could understand.
It's a simple video, but it puts the government's recent budget battles in perspective like nothing else we've seen.
Click here to watch the video...
http://www.economicpolicyjournal.com/2011/02/visual-analogy-to-obamas-100-million.html

More Cruxallaneous:
Porter Stansberry: Wake up now, before it's too late
The absolute must-read editorial of the week... of the month
The horrific government news that absolutely no one is talking about
View the original article here

The absolute must-read editorial of the week... of the month

From 321gold.com:
Bernanke, You Stupid B%#%^*d
Yes, you.
And Trichet, and the rest of the Central Bank fools.
But especially you, Bernanke.
There's dumb and then there's really dumb. Let's take a short walk back down history lane.
You were sure there was no housing bubble.
Then you were sure it wouldn't pop.
Then you were sure when the subprime problem hit, that it wouldn't cause a recession.
Then you were sure you had it under control with Bear Stearns' hedge funds.
Then you were sure you had it under control with Bear Stearns itself.
Then you were sure it was under control with Lehman, even though you had to know Citibank and others were refusing their collateral in the repo market.
You were sure QE would support higher bond prices - and lower yields. The exact opposite thing happened.
You were sure QE2 would suppress long end yields. The exact opposite thing happened.
Oh yeah, you made excuses both times, but in fact you publicly said that in both cases the exact opposite thing would happen that did.
Now let's look at what happened just today...
Read full article...
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Porter Stansberry: You must prepare for a crisis NOW
Stansberry: Detroit's socialist nightmare is America's future
The best explanation of Barack Obama's agenda we've ever read
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How to find tomorrow's great dividend stocks

From Dividends Value:
... [A] dividend stock analysis is a snapshot in time, but the real question for the savvy dividend investor is ‘where is the stock headed?’
Here are four important directional metrics that I look for when updating my stock database...
1. Declining Shares
Many companies sell stock to raise cash. The important question is what is the company going to do with the cash? Is it for an acquisition or “general corporate purposes?” The latter is code for...
Read full article...

More on dividend stocks:
How to get started in dividend investing
This could be the best dividend opportunity of your lifetime
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View the original article here

The top 14 overlooked income tax deductions

From Money Crashers:

The only thing worse than paying taxes is paying more than you have to. With this year's tax filing deadline coming up, make sure you're getting every penny you deserve by checking if you're eligible for these 14 little-known tax deductions.
1. Tax Preparation Fees, Schedule A, Line 22
Yup, it seems kind of circular, but you can deduct the cost of tax preparation on your Schedule A. If you paid taxes and used a credit or debit card, you can also…
Read full article...
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These states are offering big tax breaks for retirees
Upcoming gov't loophole will allow huge estate tax avoidance
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The great Richard Russell on how anyone can become rich

 
Tuesday, February 01, 2011

From Richard Russell on LewRockwell.com:

MAKING MONEY: The most popular piece I've published in 40 years of writing these letters was titled, "Rich Man, Poor Man." I have had dozens of requests to run this piece again or for permission to reprint it for various business organizations.

Making money entails a lot more than predicting which way the stock or bond markets are heading or trying to figure which stock or fund will double over the next few years. For the great majority of investors, making money requires a plan, self-discipline and desire.

I say, "for the great majority of people" because if you're a Steven Spielberg or a Bill Gates, you don't have to know about the Dow or the markets or about yields or price/earnings ratios. You're a phenomenon in your own field, and you're going to make big money as a by-product of your talent and ability. But this kind of genius is rare.

For the average investor, you and me, we're not geniuses so we have to have a financial plan. In view of this, I offer below a few items that we must be aware of if we are serious about making money...

Read full article...

Casey Research: What the Australian floods could do to coal prices

By Marin Katusa, Casey’s Energy Report:

The most important metallurgical coal basin in the world is underwater. Open pits have become lakes, stockpiles are soaked, and rail lines are submerged... and, in places, destroyed. Damage is estimated at $5 to $6 billion.

Australia accounts for almost two-thirds of global coking coal production. Much of it comes from Queensland, where an area the size of France and Germany combined is underwater. That includes the Bowen Basin coal region, which produces almost a third of the world's coking coal. The Bowen Basin was hit with 350 mm of rain in December, against an average of 102 mm.

Floods are now receding from the Bowen, giving some miners an opportunity to ship from existing stockpiles. Other mines are still inaccessible, and several rail lines are still submerged or damaged. And since open pits are still flooded and will take weeks to drain, shipping from stockpiles only postpones the inevitable: a reduction in met coal supply. Analysts think a recovery to pre-flood coal production levels will take at least three months.

At least six major global coal miners have declared force majeure, which means they can miss contractual shipments because of circumstances out of their control. The list includes Anglo American, Aquila Resources, BHP Billiton, Macarthur Coal, Rio Tinto, Vale, and Xstrata. Mines responsible for between 100 and 140 million tons of annual coking coal production are now under force majeure, representing as much as 40% of global supply.

And it's probably not over yet. Australia's Bureau of Meteorology predicts both eastern New South Wales and southeastern Queensland have a 60% to 70% chance of receiving higher-than-average rainfalls between January and March 2011.

What does it mean for coal prices and coal equities?

Read full article...

More on coal:

The easiest way to profit from skyrocketing coal prices

Why the breathtaking rally in coal could be going much, much higher

China will soon be the world's largest importer of this essential energy commodity

View the original article here

The top five ways to file your taxes for free

From Money Crashers:

If you’re getting ready to send this year’s income taxes to Uncle Sam, you can avoid spending extra money on tax preparation by using the resources listed in this article.
There’s no need to pay more than your fair share in taxes, and similarly, there’s no need to pay extra when preparing them either! Note that these services will only cover your federal taxes, so you’ll need to either complete your state forms using another method or pay a fee to do them alongside the federal taxes.
If your taxes are simple, be sure to take advantage of these…
Read full article...
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The world's best place to file taxes
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Crux Classic: This tax fact should make your blood boil
View the original article here