Will Obama Confiscate 401(k) Accounts?

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From Daily Reckoning, by Dave Gonigam, Aug 2015

This post Will Obama Confiscate 401(k) Accounts? appeared first on Daily Reckoning.

“Can you guys comment on this?” writes one of our regular readers, linking us to a “401(k) confiscation” article by one David Mills, reposted on the website of Alaska radio host Joe Miller.

As it happens, I was monitoring whether government will confiscate 401(k) accounts as long ago as 2008 — when Congress briefly debated killing the tax advantages of 401(k) accounts.

And in my role as the Laissez Faire Letter’s 401(k) watchdog, I’m plugged into the new development that’s caught Mr. Mills’ eye. This week, the Labor Department issued new rules that would make brokers and advisers to retirement plans operate under the “fiduciary” standard.

We need to back up a bit. Professionals in the financial services industry generally get paid one of two ways…

  • Method No. 1:

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Bill Clinton Attempted to Give Paid Speeches to North Korea and the Congo While Hillary was Secretary of State

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Source: Liberty Blitzkrieg, by Michael Krieger

With each passing day, it become clearer and clearer just what a crumbling charade of greed, cronyism and phony humanitarianism the Clinton family really is. In the latest revelation, we find out that Bill Clinton tried to get State Department support to deliver paid speeches to two of the most repressive regimes in the world: North Korea and the Democratic Republic of the Congo. Apparently, the $48 million “Slick Willie” raked in during the four years Hillary was Secretary of State wasn’t enough to “pay the bills.”

We learn from ABC News:

ABC News has obtained State Department e-mails that shed light on Bill Clinton’s lucrative speaking engagements and show he and the Clinton Foundation tried to get approval for invitations related to two of the most repressive countries in the world — North Korea and the Democratic Republic of the Congo.

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In 2008, Fewer Than 30 Million Used Food Stamps. Now 46 Million Do.

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From The Daily Signal, by Ed Feulner, Aug 30, 2015

Good news: The number of Americans using food stamps in 2014 declined slightly from the previous year. So why does the 2015 Index of Culture and Opportunity say this indicator is headed in the “wrong direction”?

There are a couple of reasons. For one, the food stamp program (officially known now as the Supplemental Nutrition Assistance Program, or SNAP) is still much larger today than it was a decade ago—or, indeed, just a few years ago. In 2008, it was below 30 million. By 2013, it had hit 47.6 million.

It has since dipped a bit, as I mentioned (to 46.5 million). But for it to still be so high, despite an improving economy, is certainly troubling.

“The program may appear to be on the right track,” Maura Corrigan, a visiting fellow at the American Enterprise Institute, writes in the…

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Big Market Crash Coming, Will Biden Challenge Clinton, Dems for Iran Nuke Deal

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USA Watchdog

They say the market crash is a buying opportunity. They say it’s a correction and nothing more. My sources say none of that is true, that this is just the warm-up act of a much bigger downturn in the stock market. Gregory Mannarino of TradersChoice.net, who called the top in this market more than 2,000 points ago, says market crashes are not a one and done event but a process. He says the 2008 meltdown started in September and didn’t finish until March of 2009. It only ended with massive QE and money printing and suspension of accounting rules by FASB. Fast forward to today, and we have reports of China selling U.S. debt (Treasuries) because China’s markets are in turmoil. In simple terms, they need the cash to try to stabilize their markets.

Hillary Clinton now says she “made a bad choice” for having her own private…

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Sheriff David Clarke: There’s a War On Cops Led By “High Profile People…”

Nice Deb

On Justice with Jeanine Pirro, Saturday night, Milwaukee Sheriff David Clarke unloaded on the Black Lives Matter Movement,  and the “high profile people” he says are leading the movement. Almost too angry to speak, he called the Black Lives Matter activists, “slime” and “filth” who should be eradicated from the towns they infest.

Judge Jeanine opened her show, with the story of the latest horrific cop killing. 

Deputy Darren Goforth, 47, had just left an accident scene last night when he stopped by a gas station on Telge and West Road. As he was pumping gas, a man approached him from behind, said nothing and fired multiple shots. Once the deputy fell to the ground, authorities say the suspect fired more shots. Deputy Goforth was pronounced dead on the scene

A witness told reporters she saw a woman sobbing over Deputy Goforth’s body: ”She was laying on top him. She was saying that…

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