Category Archives: Finance

Education, Finance, Government, Politics

Free Money For College Kids

1 Comment

The Supreme Court of the United States, SCOTUS, earlier this morning announced their ruling which strikes down the UNCONSTITUTIONAL and UNFAIR student loan forgiveness program that Old Fool Biden enacted by a DICTATORIAL executive order. He committed to give HALF A TRILLION DOLLAR$ of YOUR MONEY to bums that took out student loans and don’t want to repay them. The Fool issued this executive order because he knew that Congress would never pass this inflationary give away. It was reported that one of the STAR WITNESSES against the Fool was none other than former Speaker of the House, Nancy Pelosi. She was quoted several times in the arguments that the President doesn’t have the authority to commit the money to the program and that ONLY CONGRESS has the power to allocate the money.

SCOTUS made the correct decision no matter what the Marxist Left believes. I heard one obviously communist “political analyst” blather on MSNBC that SCOTUS does not have the right to interfere with the decisions of the President. Um, what happened to the THREE COEQUAL branches of government and checks and balances?  Apparently the MORON “political analyst” would prefer a DICTATOR or KING for the country.  Just let the Old Fool rule from the White House Castle.

But I have a suggestion for Old Fool Biden to make good on his promise to the kiddies.  I’ve said when I was working, “Don’t just bring criticisms, also bring solutions“.

Old Fool should issue a new EXECUTIVE ORDER and NATIONALIZE ALL PRIVATE COLLEGES and UNIVERSITES.

The cost of his promised forgiveness program was estimated to cost $400 Billion, almost half a trillion bucks. If Old Fool nationalized all the colleges and universities the government would have access to the endowments that the institutions hold.

In 2021, according to  the National Association of College and University Business Officers (NACUBO) endowments were $854.11 Billion, more than DOUBLE the $400 Billion that Old Fool promised. He could just give away a portion of the endowment money and it wouldn’t cost any taxpayer a SINGLE PENNEY!

Joey, I’m here to help.

Business, Culture, Finance

How Much Is Real?

Leave a comment

I was watching a report this morning on the collapse of FTX, the cyrpto exchange. Some pundits are stating that this bankruptcy, “is bigger than Enron“. Truth in lending, I have no holdings in crypto as I don’t understand it and what little I do, makes no sense to me. That said, there was a 20-something Gen-Z kid whining that he lost $2 million because of the collapse of FTX. My question when I hear people whining about their investment losses is, “how much of that is a real loss?“

The whiners, usually exaggerate how much loss they’ve suffered in order to sound sympathetic. During the Enron collapse, there was a young employee (I recall that she was a secretary) of the company who had her retirement savings 100% invested in Enron stock. She said she lost “a million dollars“ of her retirement when Enron collapsed. I always have questioned such numbers. How could she have legally invested “a million dollars” of capital into a retirement fund. If she was working for 5 years at Enron, she would have had to have a salary of around $450,000 per year to have “a million” to invest. $200,000 goes to taxes, $50,000 goes to living expenses, and then she’d have $200,000 to invest over 5 years. If she could earn $450,000 per year as a secretary, why the belly aching when she has another 40 plus years of her working life left. I suspect her “real” losses may have been around $20,000 at most.

The same goes for the Gen-Z kid moaning about his $2 million dollar loss in FTX. FTX peaked at $84.18, right now it’s trading at $1.88. If you use the peak numbers, the kid owned around 45,000 shares. Say he bought in around January of 2021 when FTX was around $5 per share he would have needed to invest around $225,000 which is by no means a small amount of money. In “real” dollars the kid would have suffered a loss of around $140,000 ($5 down to $1.88) which is a far “cry” less than $2 million. Even if the Gen-Z kid actually lost $2 million of cash because he bought at the peak, just earn another couple of million in the next 40 years of a working career and stop whining.  Investments have risks. Deal with it.

And don’t forget, these highly paid 20-somethings can write-off their “real” losses against earning of their 6-figure incomes.  And who pays for those write offs?  Well that would be you and me the taxpayers who didn’t invest in risky ventures.

Finance, Government, World Affairs

Biden Officially Funds Putin’s War

Leave a comment

At this point in time, Joey, you know the only guy to go “toe to toe with Putin“, is still dragging his feet about the US divesting from Russian oil. We import around 670,000 barrels of oil PER DAY from Vladimir, because of Joey’s green energy policies.  The Biden administration has said this is only a small percentage of the 20 Million barrels of oil per day the US consumes.  Chump change.  Let’s look at how much chump change we give to Putin in JUST ONE YEAR.

The purchase of 670,000 barrels per day at the current price of $120 per barrel means we will give Putin almost $29,346,000,000.00 yes almost $30 BILLION DOLLARS per year to fund his war machine.

What could the Ukrainians buy if they had $30 BILLION?

2 Gerald Ford class nuclear powered AIRCRAFT CARRIERS or,
14 Aleigh Burke class DESTROYERS or,
293 Apache HELICOPTERS or,
917 Reaper DRONES or,
2,934 Abrahams TANKS or,
195,640 Hellfire MISSILES.

The money could be used to purchase more of the weapons that the Ukrainians are currently using:

167,497 Javelin ANTI-TANK MISSILES or,
244,550 Stinger ANTI_AIRCRAFT MISSILES

Or for bigger missile attacks you could buy 20 complete PATRIOT MISSILE SYSTEMS which would give the Ukrainians the ability to shoot down 1,680 Russian missiles.

But Joey would rather give it to Putin.