Category Archives: Finance

Throwing Your Money Away

I don’t hear any outrage about this FACT that I’ve noticed since President Biden was elected. GAS PRICES have been going UP UP UP. In my neck of the woods fuel prices are approaching 60 cents per gallon HIGHER since the election. Seems people should be upset by this, but I haven’t heard much outcry in the news.

What does a measly 60 cents mean? Just a few pennies, right?

If a WORKER uses 10 gallons of gasoline per week to commute to a job, to take the kids to school, to buy groceries, that’s $6.00 per week flushed down the toilet, since President Biden, the most popular president in US history, was elected.

What’s $6.00 per week mean? That may seem like a small amount of money.

Let’s look at a 20 year old worker who took that 60 cents per gallon ($6.00 per week, $312 per year) and put it into a Individual Retirement Account (IRA). Let’s assume the worker’s IRA has an annual interest rate of 7% which is how the markets perform over the long term. What does that measly 60 cents mean when the worker reaches the retirement age of 65?

60 cents per gallon would turn into $95,706.55 !!!  Just shy of $100 Grand.

If there was a 1% upward variance in the return the 60 cent would become $130,548.93 !!!

President Biden’s pick for Transportation Secretary, Petey Buttigieg, has said that he wants to raise the Federal gasoline tax to take more of your money, to give to gender studies programs in Pakistan I suppose.

I guess we can all flush down the crapper $100,000.00 of OUR MONEY for Pakistanis, or to bail out mismanaged public sector retirement funds, or to give to all the new ‘CITIZENS’ once President Biden gives amnesty to people who have entered into this country illegally.

As the saying goes, “It’s only (your) money“.

Will Anyone Grieve For These Children?

This just happened this morning in Baltimore MD. Apparently a gas leak caused an explosion that leveled five houses. The reporting is that people, including children are trapped in the rubble.

If someone wants to pour money into a fight against disparity, how about this idea? Instead of giving BILLIONS of dollars to the Marxist god Blim, how about funding a program to inspect AND correct hazardous living conditions in poor neighborhoods? You rarely hear of a gas explosion in the wealthy suburbs. How about using some of Blim’s money to put in gas leak detectors in these row houses? For that matter install fire and carbon monoxide detectors as well. They can all be tied together into either a new or existing wireless “Internet of Things”, IoT, network. Emergency and repair crews can be dispatched to remedy problems before there is such widespread damage and loss of life.

But it’s easier for Nike et al to write a check to Blim than to actually do something that will help others.

Swoosh Away Racism

First off, STOP BUYING Nike products.

I read and hear praise dumped in copious amounts on Nike, Inc. regarding their support of their god Blim (BLM). The company has pledged $40 million dollars to some nebulous concept of supporting a group of people based solely (no pun intended) upon skin color. Let’s look at what Nike says.

Systemic racism and the events that have unfolded across America over the past few weeks

Uh, Nike, if racism is systemic why is it you only noticed it in the “past few weeks“. I guess all of those “systemic” racists do a pretty good job of hiding racism from the brain trust in your boardroom, or you are just a bunch of pandering clowns parroting the leftist word salad phrase du jour.

And the bozos continue…

This additional $40 million builds upon the NIKE, Inc. family’s long history of providing support to the communities in which they operate in.

Back the f’ing truck up a few yards there Chuckles.

Nike, you produce almost all of your shoes in China and Vietnam. Near as I can tell you make ZERO PERCENT of your shoes in the US.

Here’s a thought. Why don’t you bring your production back to inner city America and create jobs for the “communities” that you so lovingly support? Oh, you say your bottom line doesn’t support paying $15 per hour to some person of a certain skin color to make $250 Jordans or $400 Adapt basketball shoes?  I can see that.  According to your 2019 financial statement, you had $39 BILLION in revenue with a gross profit of over $17 BILLION. Yup, I guess with $17 BILLION there is no way to build inner city factories and employ Americans of a certain skin color. I guess pledging 0.1% of your revenue is much easier than actually “Just Doing” something significant.  Though I haven’t done an analysis of Nike financial, I suspect that the money pledged is part of the existing marketing budget and operating expenses which means ZERO PERCENT came out of profits.

Personally I don’t believe that skin color is a qualifying factor for a job position, however Nike goes on,

We believe in a level playing field for all and leveraging the power of sport and our brands to move the world forward.

Hey, chuckle-heads, perhaps a little introspection about your executive officers.  Mark Parker CEO, Andrew Campion CFO, Elliot Hill, Hillary Kane, Monique Matheson, John Slusher, Eric Sprunk COO.  Your panel of melanin challenged individuals are the poster children for “diversity” in corporate America.  Your whole team would disappear in a backdrop of snow, if you get my meaning.  Again, I don’t believe skin color has any value in judging a person’s suitability for a job, but I’m not the “social justice warriors” that you all are pretending to be.

As Yahoos Sports praised your actions, “Nike so nailed its response...”

You can read Nike, Inc’s 2019 SEC annual report HERE