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Governments the World Over Crack Down on Cryptocurrencies

Cryptocurrencies are rapidly losing value as governments the world over are cracking down on mining, purchases and exchanges. Bitcoin has lost nearly half of its value, tumbling from over $20,000 to less than $12,000. Ethereum, Ripple, Litecoin and other well-known cryptocurrencies also fell as investors worry about countries creating new regulations affecting cryptocurrencies or even banning them outright for any one of a number of reasons. While some confidently proclaim that no government would outlaw cryptocurrencies outright but instead only seek to regulate their use, the truth is that the rise of cryptocurrencies is unprecedented, and so the response to ...Continue reading

The Stock Market Indicates That 2018 May Be Another Record-Setting Year

The saying “As January goes, so goes the year,” refers to what is called “The First Five Day Barometer.” This is the idea that January stock performance tends to predict the rest of the year’s stock performance. According to the First Five Day Barometer, if equalities post high in the first five days of the year, then there is a very good chance that the stock market will continue to rise for the rest of the year. The January Barometer isn't just a myth. There is statistical data to back this claim up. The Stock Trader’s Almanac has found the ...Continue reading

6 Ways to Avoid an IRS Audit This Year

The new year isn't very old, but it's not too early to think about your 2017 taxes. This year's deadline for filing -- April 17, 2018 -- will be here quickly. The following six tips can help you avoid the dreaded IRS audit this year. 1. Neatness Counts The refrain of your elementary teachers who always emphasized neat penmanship comes in handy when it comes to satisfying the IRS. When preparing your return, use blue or black ink and focus on printing neatly and clearly. Try to avoid smudges, crossed-out words and sloppy handwriting. If possible, prepare your tax return ...Continue reading

What If China Stops or Slows Buying US Debt?

China is the largest lender to the United States, buying billions of dollars of treasury notes each year. The communist state's lending has largely been beneficial to the United States, and we borrow from them each year -- which the United States government uses to finance its own deficit spending. While this tactic may have kept the federal government afloat for a long time, it seems like this little magic trick won't work forever. On Wednesday, January 10, 2018, reports surfaced that “China is reportedly thinking of halting US Treasury purchases and that’s worrying markets." The story was carried by ...Continue reading

December Jobs Report Shows a Great Year for the Trump Economy

Since Trump was elected, reading jobs reports has been a pleasurable experience. Jobs are growing. Economic conditions are improving, and there is nothing but good news. Let’s take a look at December and see how it caps Trump’s first full year in office.   Let’s begin with a look at December’s numbers. The country added 148,000 jobs. This number is noticeably lower than many other months in the past year, but it’s important to realize that a large number of seasonal jobs end before January 1. The 148,000 net new jobs includes the “layoffs” that come at the end of ...Continue reading