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.
Simpson’s Stamps
The fate of the Post Office is being blamed on the overproduction of Simpsons stamps. At least that’s the excuse being tossed around this week. It can’t be from the $5.2 billion loss in its third quarter. Can it? Or the potential $15 billion loss on the year?
Nope. It’s entire success is based on the Post Office curbing stamp overproduction. Because it will save $2 million per year. Now, what to do about the other $14.998 billion?
Unfair Tax Rates
The idea that someone isn’t fit to run a country because they are smart enough to pay as few taxes as possible is laughable. I’m not a Romney fan or Obama for that matter, but it’s always nice to poke holes in political talking points. Which recently is how Romney’s tax rate is less than the average Americans.
Too bad, it’s not true. At least 90% of Americans have a lower-income tax rate than Romney. I won’t argue that the tax code is convoluted and could use a makeover. It seems the average American isn’t getting screwed over as much as some political parties want us to believe.
Last Call
- The Complete Cynic’s Guide to Investing – The best investing guide I’ve come across from a Canadian cynics point of view. It’s worth a few laughs.
- Investors Punish Funds for Bad Behavior – There’s a reason funds have small print. It usually takes the form of past performance does not guarantee future gains. Performance chasing is bad.
- The Case against Lehman Brothers – An interesting 60 Minutes piece about the Lehman Brothers collapse and why no one has been charged yet.
- Changes to Money Market Funds Stall – This relates to the Lehman Brothers story and worth reading for money market fund owners. Those funds aren’t as secure as you may think.