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Money Matters airs Thursday at noon. Money Update October 30, 2012
Marc’s Notes:
The Markets are closed today and yesterday due to the storm. Not much trades. This happens but is rare. Meanwhile all eyes turn to the election in a few days. As indicated on the last newsletter, I expected markets to be flat and they are. Apple is slowing eroding. A short time back I wrote a audio newscast on Apples possible fall from grace after Jobs died. I don’t expect this to be the final swoon but it is interesting considering the context of that piece I did. With all the new competition from Microsoft and the rest on pads, phones and what have you, Apple will fall eventually but I still expect to do fine in the near term. That said, I added a few shares for a friend of mine and continue to think adding here is a good gamble over the mid term. Oil is also a good gamble here using UCO as a vehicle but there are others. This oil play is meant to be short term and selling when you get a 10 % rise from where you bought in.
Euro problems are still in the news of course and Iran vs. Israel will surface right after the election. For now enjoy the spooks and kooks of Halloween!
For now, keep adding physical gold and silver and get some money off shore for the tempest that is coming and I don’t mean weather. Add dividend payers and even a Swiss Annuity if you are so inclined! Email me with questions.
I have room for consults now before the holidays and offering a reduced rate. The station did not have me offer consults so I will offer them direct to you at half the rate. Email me for details. I take vacation in December and the last week of November so dont delay.
Thursday’s show is on education and our `system` as opined from a favorite analyst of mine. Tune in at noon PST on KVMR. 89.5 or 105.1 in the Tahoe area or on the web at KVMR.ORG. Thanks to all who pledged to KVMR this drive by the way.
Money Class one is now set for Friday November 30th at 11.15 am in the Grass Valley Area. I have a few checks left from previous sign ups. Get in now and email me for a spot. Cost is $199.00. Mail check with your phone and email address to. PMB 101, 578 Sutton Way, Grass Valley, CA 95945. Make check to: Bay Area Process Inc.
Turkey Matters:
Turkey Matters is where I match your funds to buy turkeys for the needy at the NC FOOD BANK of INTERFAITH FOOD MINISTRIES. Every dollar you send in makes me give them one too! Join with me to make your Thanksgiving great! Feed thousands and know on Turkey day many, many families will eat thanks to you!
Mail check made out to the either the Nevada County Food bank or Interfaith Food Ministries and I will deliver it to them mid November with a matching check from my own pocket. (I will match up to $10,000.00)
Mail to: Bay Area Process (make check to Food bank of your choice) PMB 101, 578 Grass Valley, CA 95945. Hurry, the prgoram ends soon.
Now enjoy this article:
The US Comptroller General and I Speak:
Years back I interviewed the head accountant for the US Government, US COMPTROLLER GENERAL Mr. David Walker. Walker served as Comptroller General of the United States and head of the Government Accountability Office (GAO) from 1998 to 2008.
I found Mr. Walker to be an honest forthright man, who spoke his mind in an eloquent yet decisive manner. When he spoke, you got the feeling this man knew of what he spoke and that his answers were full of truth and honesty.
Being the head accountant for the US government books, he obviously knows what he’s talking about when it comes to the finances of the US government. During his last years as US Comptroller he refused to personally sign off on the final audits, telling me he could not verify the information was accurate due to the so many adjustments and contradictions the audit were based on.
In other words, even as the head accountant for the US government with armies of accountants under his direction, the information provided to him from the government was so convoluted as to be unverifiable.
Walker has compared the present-day United States to the Roman Empire in its decline, saying the U.S. government is on a "burning platform" of unsustainable policies and practices with fiscal deficits, expensive over commitments to government provided health care, swelling Medicare and Social Security costs, the enormous expense of a prospective universal health care system, and overseas military commitments threatening a crisis if action is not taken soon.
Mr. Walker left the comptroller position a few years back to address the exploding deficit problems the nation faces and after a brief stint at the Peterson Foundation, started the Comeback America Initiative. Its a plan of his own design on how to get America back on track as far as her finances go and he’s penned a companion book entitled COMEBACK AMERICA (Random House; January 12, 2010).
His multi-step plan details realistic yet effective reforms that in his opinion would restore America’s ability to compete and reign in the massive budget shortfalls faced today due to flawed policies and overspending bureaucrats.
Reading through the initiative, you get the feeling Walker knows exactly what ails us and draws on his vast knowledge acquired from his previous job as this nations lead accountant.
His motive seems a simple one and is detailed in his mission statement:
“The decisions that must be made to put our nation’s finances in order require tough choices. The only way our leaders will be willing to act, is if the public is fully engaged and educated on the facts regarding the true state of our nation’s finances. You can do your part by educating yourself and others using the various tools and resources available” (on the website: www.keepingamericagreat.org).
Far from the doom and gloomers who offer little more then criticism and the pipe dreamers who think everything will just work out, Walker offers real solutions from a man who knows and has the credentials to back up every well constructed word. We would do well to listen to him,
This article expresses the opinions of Marc Cuniberti. Mr. Cuniberti hosts “Money Matters” on KVMR FM 89.5 and 105.1 FM on Thursdays at noon. He has been featured on NBC and ABC television and on a host of made for TV documentaries for his economic insights. His website is www.moneymanagementradio.com
