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Gamle-ged

Profile Information

Gender: Male
Hometown: Nokomis, FL
Home country: US
Member since: Wed Nov 5, 2014, 01:58 AM
Number of posts: 27,216

About Me

Retired 3x, living comfortably on the Gulf Coast, biking, beachwalking, lifting free weights, eating mostly properly, keeping my mind active, in my seventh decade, intending to give Methuselah a run for the record...

Journal Archives

In politics, because it's the National Anthem of the U S of A...

IRS Warns Taxpayers To Include Crypto On Income Tax Returns

The US Internal Revenue Service (IRS) released a memo March 23, reminding US citizens of the need to report their digital currency earnings on their income tax returns.

The IRS notes that Notice 2014-21 defines digital currencies as property, and they are thus subject to federal property taxes. Those who fail to report their crypto earnings can be “liable for penalties and interest,” and “in more extreme situations criminal prosecution.”

The recent memo highlights the “inherently pseudo-anonymous aspect” of cryptocurrency transactions, which the organization believes may lead some taxpayers to be “tempted to hide taxable income from the IRS.”

In 2017, only .04 percent of customers of personal finance service Credit Karma reported crypto transactions on their tax returns.

https://cointelegraph.com/news/irs-warns-taxpayers-to-include-crypto-on-income-tax-returns/amp

New National Security Advisor, former UN Ambassador John Bolton on stopping Iran's bomb...

The inescapable conclusion is that Iran will not negotiate away its nuclear program. Nor will sanctions block its building a broad and deep weapons infrastructure. The inconvenient truth is that only military action like Israel’s 1981 attack on Saddam Hussein’s Osirak reactor in Iraq or its 2007 destruction of a Syrian reactor, designed and built by North Korea, can accomplish what is required. Time is terribly short, but a strike can still succeed.

Rendering inoperable the Natanz and Fordow uranium-enrichment installations and the Arak heavy-water production facility and reactor would be priorities. So, too, would be the little-noticed but critical uranium-conversion facility at Isfahan. An attack need not destroy all of Iran’s nuclear infrastructure, but by breaking key links in the nuclear-fuel cycle, it could set back its program by three to five years. The United States could do a thorough job of destruction, but Israel alone can do what’s necessary. Such action should be combined with vigorous American support for Iran’s opposition, aimed at regime change in Tehran.

https://www.nytimes.com/2015/03/26/opinion/to-stop-irans-bomb-bomb-iran.html

New National Security Advisor, former UN Ambassador John Bolton on striking North Korea first...

Pre-emption opponents argue that action is not justified because Pyongyang does not constitute an “imminent threat.” They are wrong. The threat is imminent, and the case against pre-emption rests on the misinterpretation of a standard that derives from prenuclear, pre-ballistic-missile times. Given the gaps in U.S. intelligence about North Korea, we should not wait until the very last minute. That would risk striking after the North has deliverable nuclear weapons, a much more dangerous situation.

In contemporary times, Israel has already twice struck nuclear-weapons programs in hostile states: destroying the Osirak reactor outside Baghdad in 1981 and a Syrian reactor being built by North Koreans in 2007.

This is how we should think today about the threat of nuclear warheads delivered by ballistic missiles. In 1837 Britain unleashed pre-emptive “fire and fury” against a wooden steamboat. It is perfectly legitimate for the United States to respond to the current “necessity” posed by North Korea’s nuclear weapons by striking first.

https://www.wsj.com/articles/the-legal-case-for-striking-north-korea-first-1519862374

New National Security Advisor, former UN Ambassador John Bolton on mistake of Iraq war...

We should not have invaded Iraq in 2003. Instead, we should have finished the job in 1991 after ridding Kuwait of Iraqi aggressors. We were told then that Arab coalition members, especially Syria’s Assad dictatorship, would object to overthrowing Saddam. Perhaps they were seriously worried they were next. Too bad they weren’t. And there would have been no question of any Iraqi WMD after 1991.

The war’s opponents point to today’s chaos in the region and ascribe it to Saddam’s overthrow. That conveniently ignores the tidal wave of radical Islamic ideology that was already rising in the twentieth century’s last decades, and now continues unabated, Saddam or no Saddam. It also misses the West’s devastating failure to stop Iran pursuing nuclear weapons. Bumbling diplomacy has legitimised terrorism’s bankers in Tehran, affording them a clear path to deliverable nuclear warheads on their own timetable.

Iraq today suffers not from the 2003 invasion, but from the 2011 withdrawal of all US combat forces. What strengthened Iran’s hand in Iraq was not the absence of Saddam, but the absence of coalition troops with a writ to crush efforts by the ayatollahs to support and arm Shi’ite militias. When US forces left, the last possibility of Iraq succeeding as a multi-ethnic, multi-confessional state left with them. Don’t blame Tony Blair and George W Bush for that failure. Blame their successors.

https://www.telegraph.co.uk/news/2016/07/06/the-only-mistake-of-the-iraq-war-was-that-we-didnt-get-rid-of-sa/

New National Security Advisor, former UN Ambassador John Bolton on Migrant Crises...

Photos of immigrants trying to storm the Eurostar train’s “chunnel” entrance in France to cross under the English Channel to Britain compete with videos of the recent terrorist attack on the Thalys high-speed train between Amsterdam and Paris. How many boat people and others who seem to be economically motivated are actually terrorists, perhaps trained by the Islamic State in Syria or Iraq, seeking to conceal themselves among economic migrants to gain access to Europe? This is the same issue America faces on the Mexican border.

Compounding the problem, tens of thousands of legitimate Middle Eastern refugees are fleeing religious genocide in their home countries, and several EU states, mostly in East and Central Europe, have moved quickly to grant them asylum. These refugees are primarily Christians from Syria and Iraq threatened by the Islamic State or other radical jihadis, but non-Christian sects like the Yazidis are also properly and successfully seeking asylum.

Hard though it may be for some to acknowledge it explicitly, the receiving European governments feel that their humanitarian decision to provide refuge to Christians and others fleeing radical Islamicists is far safer than accepting undifferentiated populations that may contain terrorists using the true refugees as cover. This is hardly farfetched. In 1980, Fidel Castro deliberately and cynically emptied Cuban prisons of true criminals and allowed them to escape to American in the Mariel boatlift, along with over 100,000 legitimate refugees. The Europeans are well to be cautious.

http://www.foxnews.com/opinion/2015/09/01/migrant-crisis-isnt-just-europes-problem-its-our-problem-too.html

New National Security Advisor, former UN Ambassador John Bolton on a Palestinian State...

For more than two decades, U.S. policymakers have generally acceded to Palestinian insistence that a new state be created for them, stitching together the Gaza Strip and the West Bank. These territories have no particular history either of national identity or of economic interdependence. They are simply bits and pieces of the collapsed Ottoman Empire and the failed League of Nations’ post-World War I mandate system.

The only logic underlying the demand for a Palestinian state is the political imperative of Israel’s opponents to weaken and encircle the Jewish state, thereby minimizing its potential to establish secure and defensible borders. The cruelest irony is that by using the Palestinian people as the tip of the spear against Israel, their supposed advocates have caused the Palestinians extensive suffering. Their economic well-being, their potential for development and the prospect of living under a noncorrupt, representative government have been lost in the shuffle of challenging Israel’s very right to exist.

https://www.washingtontimes.com/news/2014/apr/16/bolton-a-three-state-solution-for-middle-east-peac/


Americans prefer economic inequality to playing Robin Hood, study finds

Voters in modern democracies, such as the United States and Germany, have long held the power to take from the rich, give to the poor and erase the huge economic inequalities that separate the vast majority of a nation's citizens from its super-wealthy elites.

But given the chance to play Robin Hood, most people in these countries show little interest in making dramatic wealth transfers, choosing to redistribute only about 12 percent of all funds available to reduce inequities between rich and poor, suggests a new experimental study forthcoming in the Proceedings of the National Academy of Sciences.

"Participants in our experiment were willing to tolerate a considerable degree of inequality even in a setting where they have full control over the final distribution of wealth and there are no costs to redistribution," said study co-author Michael Bechtel, associate professor of political science in Arts & Sciences at Washington University in St. Louis.

Other recent research, including a popular 2011 study by Michael I. Norton and Dan Ariely, has argued that economic inequalities persist because the poor have a skewed sense of their relative position within a nation's income distribution—they don't consider themselves to be especially poor and don't believe economic inequalities to be that great.The assumption here, Bechtel said, seems to be that if voters knew the true level of inequality, they would remove it. However, the study's results suggest that this is not the case.

"In our experiment, there is no misperception of relative wealth," Scheve said. "Individuals know exactly how the value of their Amazon card compares to the other respondent's gift card, and they can fully remove inequality by giving to or taking from the other respondent."

https://phys.org/news/2018-03-americans-economic-inequality-robin-hood.html#nRlv

Sounds like there STILL are an insufficient number of Americans who would be willing to junk American capitalism for Socialism, as indicated by the last presidential election and the two mid-term elections before that...





Bitcoin's Death Cross Looms as Strategist Eyes $2,800 Level

Bitcoin’s 50-day moving average has dropped to the closest proximity to its 200-day moving average in nine months. Crossing below that level -- something it hasn’t done since 2015 -- signals fresh weakness to come for technical traders who would dub such a move a "death cross." Another moving-average indicator of momentum has already turned bearish.

While many cryptocurrency investors don’t follow technical analysis, the digital-coin universe is drawing interest from professional traders who pay growing attention to the indicators, after the token vaulted to a record in December.

“There’s been a definitive shift over the past couple of months after the bubble activity at the end of 2017,” said Paul Day, a technical analyst and head of futures and options at Market Securities Dubai Ltd.

The strategist studied the virtual currency’s 2013 tumble for clues on how it may act this time round. His conclusion? Gear up for a 76 percent tumble from late February highs, which would take Bitcoin to a paltry $2,800, if the downtrend is repeated. Bitcoin fell 2.2 percent to $8,120 at 11:17 a.m. in London, according to Bitstamp prices.

https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

A great buying opportunity, some might say...

65% of Americans save little or nothing and half could end up struggling in retirement

Despite a low unemployment rate and increasing wage growth, Americans still aren't saving much. That's according to a new survey from Bankrate.com, which found that 20 percent of Americans don't save any of their annual income at all and even those who do save aren't putting away a lot.

Only 16 percent of survey respondents say that they save more than 15 percent of what they make, which is what experts generally recommend. A quarter of respondents report saving between 6 and 10 percent of their income and 21 percent say they sock away 5 percent or less. At this rate, many people could be setting themselves up to fall short in retirement, Bankrate warns.

"With a steady, significant share of the working population saving nothing or relatively little, it's virtually guaranteed that they'll be unable to afford a modest emergency expense or finance retirement," says Mark Hamrick, senior economic analyst at Bankrate. "That amounts to a financial fail."

https://www.cnbc.com/2018/03/15/bankrate-65-percent-of-americans-save-little-or-nothing.html
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