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A flat tax will never happen because it gives congress an incredible amount of control over the economic actions of the population. Imagine R/E taxes and Mortgage Interest disappearing as a deduction. That lessons the desire to buy a home. When people buy homes they spend more money...

Good point. Trading is very lonely. I have simply accepted it as a trade-off for the other benefits of which there are many! Not having a boss is #1.

To this end I completely agree. The day of reckoning for today's actions is out there. Everything comes at a price, especially free money.

He may not be lying because how much influence does the government have over the rating agencies? My guess is a lot. I doubt they can act with complete independence. The government can create money out of thin air to pay whatever debt they want at the expense of crushing the dollar and...

Sounds like this article should have been written about a year or so ago.

They need to take this to 85 Broad Street

"Of course, for this to happen it would mean the financial sector and government would need to give up a HUGE lever of power, which is unlikely to happen." Nail on the head.

All but 2 of these stocks are bubble stocks. I don't buy a stock that has already gone parabolic. I learned that the hard in in 1999/2000. It worked for a while and then it didn't work. You may get some coin from this but these stocks aren't going to up forever. Many look ready to correct...

A good article about a 100% reserve system. http://en.wikipedia.org/wiki/Full-reserve_banking And as far as the Fed goes. The economy and markets have actually been more stable since the Fed was introduced. Read Kindleberger's "Manias, Panics, and Crashes – A History of Financial...

Yep. Not only do they not pay taxes they actually get money from the government, or should I say you and I. Low income families are eligible for refundable credits even when they owe no tax. Talk about wealth redistribution.

Yep! That was one of the biggest benefits to cable TV -- no commercials. The monthly bill covered the lost revenue that commercials created. The cable companies quickly learned that once they got you hooked they could sneak in a commercial here and there and fast forward to current day and...

When the commercials come on I have to hit the mute button because they scream at you so you bring up a valid point but it is proven that commercial do influence people to buy products and services. That's a well established fact.

Exactly what I was going to rec. This instrument can be a rocket. You can make good coin very quickly if you're on the right side of the market. Definitely a good instrument to trade.

I only read a few sentences of this thread but it seems this guy is on the right track. I can't tell you many threads I read where traders try to give advice like, "follow your rules," "stay disciplined," "move stop to break even after 2 points," "etc, etc." If you don't do something...

Forget all the other advice you've gotten on this thread about hiring a CPA or Tax Lawyer. Lindq is exactly right. I've been doing this for years. The IRS doesn't care <b>how</b> it's reported as long as it's reported. Proceeds, basis, gain or loss, separated by long term and short term. If...

Wasn't that a hoot. You're an investment bank one day, going broke, a bank "holding" company the next, swimming in FED money, out of the woods the next, convert to a "financial" holding company and give the taxpayer the middle finger. Who did that? Oh that's right! Good old Goldman.

Well let's see. G-S was repealed in what? 1999? 8 short years later we have a whopper of a crisis. Yeah! I'd say that's what caused it.

Depends entirely on volatility. In 07/08 you could do 7 pts/day, no sweat. Good luck doing that on these gap a die days or gap and trend up all day. You can only take what the market offers and you have to be able to change your size according to conditions.

Well said TB. +1

I was in the exact same situation as you when I decided to go full time. You need to have enough money to cover your monthly expenses for 1-year, even if that means trimming down your monthly expenses. Sell a car, stop eating out, etc. You gotta make some sacrifices to get rich. No one ever...