Recently, a headline buried within Apple’s quarterly earnings report caught our attention…
It read, “Lance Armstrong sued by U.S. for post office sponsorship funds.” CNN.com provided the details…
According to CNN, “The Justice Department formally filed its case against Lance Armstrong and his company, Tailwind Sports, seeking to recover millions that the U.S. Postal Service invested in sponsorship for the cycling team.”
“The USPS disbursed about $40 million to sponsor the cycling team from 1998 to 2004,” the court documents indicate.
“The government aims to recover triple the sponsorship amount under the False Claims Act, potentially leading to over $100 million in damages. The complaint submitted to the U.S. District Court for the District of Columbia asserts that using prohibited substances constitutes a breach of contract with the Postal Service.”
Clearly, Armstrong’s use of performance-enhancing drugs was a misstep, compounded by years of deceit. Continue reading
This month’s edition of National Geographic features the cover story, “This Baby Will Live to Be 120*.” Beneath this headline is an adorable image of an infant. The asterisk footnote adds, “It’s not just hype. New science could pave the way for significantly longer lives.”
We believe this notion may hold merit. Less than a century ago, before advancements like sanitary sewer systems and the discovery of penicillin by Alexander Fleming, life expectancies were markedly lower. Infectious diseases frequently claimed lives before individuals reached the age of 50.
National Geographic suggests that the next breakthrough in longevity might stem from gene mutations present in genetically isolated populations. These unique mutations appear to confer resistance against diseases that shorten life.
For instance, Ashkenazi Jews possess genetic variations that help control high blood pressure and reduce the risk of Alzheimer’s. The Amish community in Pennsylvania has a mutation that decreases fat accumulation in the blood. Furthermore, mutations found in Japanese Americans lower the risk of heart disease and cancer. Continue reading
In this article, we explore whether Obama’s Chained CPI can protect your savings from the relentless grip of inflation.
By Dennis Miller, Editor, Money Forever
This week, we take a close look at how inflation can erode your retirement savings, particularly in light of the President’s proposal for adjustments to Social Security based on Chained CPI. Formally known as the Chain-weighted Consumer Price Index, this adjustment modifies how the government calculates what we refer to as “inflation.” With current low rates on options like CDs and other secure investments, those who remain passive risks falling behind year after year.
Sadly, the data reveal a truth many prefer to avoid: the era of relying solely on Social Security combined with a handful of stable bonds and CDs has drawn to a close. To achieve substantial and sustainable returns, investors must look beyond traditional safe havens.
Benefit adjustments depend on the Bureau of Labor Statistics’ (BLS) CPI-W Index, which tracks prices for urban wage earners and clerical workers. The rationale behind the CPI-W adjustment is that since these groups face financial restrictions, they tend to shop in a frugal manner, which mirrors the behavior of retirees. Continue reading
The recent market selloff was perhaps inevitable.
Gold, after a disappointing performance, notably plummeted below $1,330. The stock market responded to gold’s weak performance with a steep decline; the S&P 500 ended the day down 36 points, while the DOW fell by 265 points.
Adding to the day’s woes, it marked the 100-year anniversary of the income tax—a scenario many view as an act of government-sanctioned property confiscation. Just when it seemed the day couldn’t get any worse, tragedy struck with a devastating explosion at the Boston Marathon. Our thoughts and prayers are with the victims.
Going forward, we will continue to view the world through our economic lens, seeking to make sense of the evident chaos… beginning with today’s reflections…
Have you ever encountered the term “spring swoon”?
We hadn’t, until last Friday. It appears to describe the phenomenon that follows a strong first quarter, where the economy falters in the second quarter, much like a half-empty sack of flour collapsing on a bakery floor. Continue reading
