Welcome to the end of the week and another edition of Happy Hour! Just sit back, relax, and enjoy your end of the week roundup of all things interesting in the land of money.
$1 Trillion Platinum Coin
The argument for a $1 Trillion Coin picked up steam this week now that the focus is squarely on the debt ceiling issue. Just when you think the political system is starting to look better, it hits a new low. Instead of dealing with the current debt ceiling issue, they’re dreaming up legal loopholes to avoid the discussion entirely. It’s a coin version of talk to the hand.
If you remember the market reaction to the debt ceiling debate in 2011, you have an idea what could happen in late February, early March. Not surprising the 2011 debacle is when this whole coin idea first surfaced. It certainly won’t inspire confidence in the markets. The fact the coin is being seriously discussed shows just how ugly the debate will get. Of course, if our politicians are too inept to realize any of this, I say mint the thing. Continue Reading…
It’s finally official! After too much debate, the House vote showed up fashionably late. The 2013 federal income tax brackets were finalized on the first day of the new year.
Every year market pundits and media set out to predict the future. As you would expect (or maybe you wouldn’t?), their success rate falls short of a great batting average. But despite all this, they come back each year to repeat the exercise. Once again, we join the rank and file with some less outlandish market predictions for the year.
It’s safe to say the stock market has been kind to investors this year. The S&P 500 is up about 17% with a handful of trading days left. A great year for any investor. Still, the S&P is just an average with many outliers. Which brings us to the 2012 Best and Worst Market Awards. A collection of outliers that helped form the S&P 500 performance for the year.