@The Market: Full Steam AheadBy Bill Schmick, 03:53AM / Saturday, February 28, 2015 | |
The major averages made all-time highs again this week, except the Nasdaq. It is just a matter of time before that tech-heavy index joins the party. But what happens after that?
The short answer is that we go higher, maybe not right away, but soon. January, you may recall, was a down month, which was similar to last year. This month saw a recovery followed by higher highs just like last year. If the trend versus last year continues, we should see further gains in March, possibly fueled by more demand from overseas investors.
Given that the United States is the only game in town for bond buyers, if off-shore investors want yield and safety, we should expect to see a continuation
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The Independent Investor: New Fiduciary Rule Would Benefit All of UsBy Bill Schmick, 03:48PM / Friday, February 27, 2015 | |
The Department of Labor is trying again. This week, a proposed new rule, backed by the president, would force all financial advisers to adopt a "fiduciary responsibility" toward their clients when overseeing retirement plans. If passed, it could substantially reduce the fees and expenses we pay for that advice.
So exactly what is this fiduciary responsibility that President Obama is championing? The rule would require all advisers to put their client's interests above all other considerations when making investment recommendations on accounts covered under the Employee Retirement Income Security Act. That means the bulk of middle class savings represented by all types
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The Independent Investor: How to Make the Most Out of Social SecurityBy Bill Schmick, 03:09PM / Thursday, February 19, 2015 | |
Yes, it's complicated. Social Security benefits have been around since 1935 and, like taxes, have become increasingly complex through time. Most people are losing out because they don't understand the fine print. Starting today, you will, so read on.
For most of us, who haven't saved a great deal during a lifetime, Social Security benefits are about all we can depend on once we retire. In 2013, almost 58 million Americans received these benefits. Retirees and their dependents accounted for 70 percent of benefits paid, 19 percent went to disabled workers and dependents while survivors of deceased workers accounted for 11 percent of the total. Although benefits have
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@theMarket: A Race to the BottomBy Bill Schmick, 07:19PM / Friday, February 13, 2015 | |
Faced with slowing economies and sluggish employment, more and more countries throughout the world are devaluing their currencies, slashing interest rates and stimulating growth wherever they can. That should be a recipe for further global growth in the years to come.
These days wherever you look — China, Canada, Denmark, Sweden — central banks are announcing surprise interest rate cuts on a weekly basis. Last month's announcement by the ECB of their own additional quantitative easing efforts evidently triggered a rush of responses by other banks across the world. So far this year 26 out of 34 major central banks are establishing or maintaining monetary easing
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The Independent Investor: The Grecian DramaBy Bill Schmick, 03:24PM / Thursday, February 12, 2015 | |
Greece is once again on center stage as the world looks on, wondering if this time the country's finances will finally implode. It is a play we've seen before and its outcome fairly predictable.
Several weeks ago, I warned readers to expect turmoil in Greece. As expected, the anti-austerity party, Syriza, was elected in a nationwide election at the end of January. The new prime minister, Alexis Tspiras, has promised the voters that the spending cuts, tax increases and other austerity measures leveled on Greece by the "Troika" (the IMF, ECB and the EU) would come to an end.
The austerity measures were agreed to by the previous Greek administration in exchange
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