Lakota Truth Tour

I hitch-hiked into Rapid City, South Dakota last Wednesday, now at the house of the Lakota elder, Canupa Gluha Mani in Custer, for the Lakota Elders' Truth Tour.

From Moab to the Land of the Lakota

Before leaving Moab, a guy named Edgar came to visit me from Salt Lake City and spent a couple days hanging out with me.  I feel we became very good friends.  Since I had been planning to hitch to Rapid City, he decided to take me back to Salt Lake City with him, meet his wife Leslie, stay the night, then drop me off in Park City to start hitching.  It took me two days and several rides to go 64 miles to Evanston, Wyoming, and I was getting discouraged, thinking I wouldn't make it to Rapid City in time.  Then I went 600 miles in two rides all the way to Rapid City, several days earlier than expected.

In Rapid City, I found some woods to camp in, ready to wait days until anybody I knew showed up.  But the next day Carolyn and Thembi and their friend Naomi arrived and whisked me away to Canupa's house here in Custer!

Red Cry, the Documentary

Carolyn (my good friend of several years), her boyfriend Thembi, and Naomi have worked the past year with the Lakota making the documentary, "Red Cry" is about the ongoing genocide against the Lakotas.  It is to be shown in each city along the Truth Tour.  I have now seen the documentary and am totally blown away by it.  It tells truths never before told, exposing lies and corruption.  "Red Cry" is more powerful than I'd imagined, and all the Lakota elders I've seen it with are equally pleased with it.  "Red Cry" is their documentary, in their words, not candy-coated or white-washed (by whites), raw and shocking, as it should be!  Finally, natives get to be heard, in their own words.  It is planned to be posted free to all on You Tube in a week or two, so all of you can see it.  Meanwhile, here's the trailer again:

Lakota Elder's Truth Tour Mission 

Wagunpi Woashake Ikickupi (Lakota Elders Take Back Their Strength) is a grassroots movement to end the genocide of the Lakota people and support the full renewal of matriarchal leadership by Lakota Grandmothers on Pine Ridge and across the Lakota Nation.  The movement also works to educate non-Natives about the situation of the Lakota, mobilize long-term solidarity networks to benefit Lakota Elders, and build solidarity with other indigenous resistance movements worldwide.

The Lakota Solidarity Project is an all-volunteer group of people and organizations who work in togetherness with traditional Tetuwan Lakota Elders, warriors, grassroots activists, and Oyate (people)- led by the Grandmothers.  Find out more here.

 The Truth Tour's Facebook Schedule is here.

The Lakota Grandmother's Truth Tour starts in Rapid City tomorrow, going from city to city until the march to the United Nations in New York City, then on to Washington DC.

My Feelings About This

I can't help but feel this is something big, and can't express how honored I feel being a part of this.

And his isn't just about taking part in an activist movement.  This is becoming a major step in my spiritual journey.  I am meeting a grand guru in my life's path, and that guru is the Lakota nation.

I'm glad I'm here early, because I'm going through my time of intense psychological preparation with

Canupa.  And intense it is.  And humbling is an understatement of what I'm going through. Canupa is a traditional tribal leader (not a government lackey) who tells it like it is with us white folks.  It's not easy to take, but something we need to hear and absorb.  He's brash and crude and angry and funny, gentle and harsh and totally not P.C.  I'm sweating.  Just when I think he's a hateful asshole, a compassion deeper than I can imagine shines from his eyes into me, and the deep pain of centuries of white oppression against the Lakotas and against the earth.  And there's more to come for me to learn. I have a long ways to go, when I thought I had come so far.  Okay, I still feel he's also intensely racist and full of shit, too, encrusted over his compassion for all living beings.  That's part of his trickster persona, shocking us out of our minds like a harsh Zen master.

I have also gotten a chance to meet Charmaine, Earl, and Leo, so far, Natives also in the film.  Now I am so looking forward to meeting and traveling with the Lakota Grandmothers, matriarchs of the Lakota nation. 

After the Tour

I can't really think too much about after the tour right now.  I am, of course, thinking about the moneyless tribe idea, but feel this will be confirmation or not about #2 in the 2-fold mission of it.

Prayers For Me

I know there are people praying that I fail in my walk.  They have let me know this.  And I know there are people praying for my walk's success, who have also let me know this.  Which will win?  Neither, I say.  I ask both groups to pray neither for my success or failure.  Pray that if it is the Divine will that I fail, let me fail.  And if it is the Divine will that I succeed, let me succeed.  Make no presumptions of Divine will, or of what is "success" or "failure."  If your god is a genie in a bottle who conforms to your demands, to your will, your god is a petty demigod, no matter what you call your god.  The prayer of no presumption is the most powerful prayer in the Universe and can never fail.

Aho Mitakuye Oyasin!

Happy Resurrection Day, when the new life of Spring springs up from death.

Foreclosure Confession: Why I had to tell my bank to Kiss My ...

...Have you (or someone you know) ever thought about letting or have let the bank foreclose on your house?  I have.

 

Seriously, in 2008 the economy was so bad that I reluctantly had to tell my bank to kiss my a**. Even though I knew it was going to kill my credit score, hurt my great long-term financial relationship with my bank and inhibit me from getting a mortgage soon after; I allowed the bank to foreclose on my home.  Here are 3 of the reasons why.

  

MY HOUSE COULDN'T SWIM!

Here is how I learned that houses can't swim ... The house that I purchased in 2005, with over $30,000 in equity, all of sudden became worth $50,000 LESS than what I owed the bank in 2008. In three years the value of my home was "under water" by a little over $80,000!  How could this be?

I drove through my neighborhood and saw an unusual amount of houses with foreclosure notices. But, I was in denial. I was so excited about the new job that I accepted and about relocating to another state where I always wanted to live, that I ignored the signs.

I quickly learned that it didn't matter what I believed my home was worth. Rather, it was all about how much buyers were willing to pay for the properties around my home that determined it's value. I was also frequently reminded that a property will not sell for more than it is valued, regardless of how much more is owed on the mortgage in a buyer's market with significant amount of homes for sale.

I even thought I would save money by doing a FSBO (For Sale By Owner) instead of turning the property over to a professional immediately. By the time I handed it over to a real estate professional, the market was sinking fast and it was too late. Not working with a real estate professional early ended up costing me more money.

I was so mad at myself because I knew better!

I JUST DIDN'T QUALIFY

Say what? A single mother, getting next to nothing in child support and the "sole bread winner" paying ALL of the bills alone, didn't qualify for a modification or short sale.  How could this be? I felt hurt and confused. That's when the fear started to settle in. "Now, what am I going to do?" "How will I explain this to my son, my family, my boss?" "OMG ... foreclosures are public record," I remembered, "What if people see that my home was being foreclosed?"  "How could I help other's with their financial situations while dealing with my own financial mess?"

Unfortunately, there was no Olivia Pope back then for me and Foreclosure Prevention organizations and programs didn't really exist until after the Foreclosure Prevention Act of 2008.

  
I felt so embarrassed that my financial dirty laundry was going to be exposed. And, as much as I wanted to be upset with the bank, I was more upset and disappointed with ME. 

  

I WAS JUST 'SICK AND TIRED'!

Dealing with this situation made me physically, mentally, emotionally and financially SICK and TIRED!  My blood sugar and blood pressure was always elevated because of the stress of worrying, which was definitely not good for a diabetic with hypertension. I worried all of time about the fact that my house would not sell AT ALL. It stressed me out more because I was honestly trying to figure out how to minimize the loss to the bank. The stress was literally killing me. It wasn't that I was emotionally attached to the property. It was that I was emotionally attached to my FINANCIAL INTEGRITY! I had to fulfill my promise to pay back the money I had borrowed.  And the fact that I had a willingness to pay but lacked the ability to pay the mortgage, ate me alive.

I had sleepless nights filled with crying. I prayed to God for guidance and consulted with my money mentor for advice. I had a great long-term financial relationship with my bank and it really felt like I was going through a heart wrenching, heart breaking, and bitter break up with them. I even started ignoring my bank's calls, letters and notices. It was that whole "blood from a turnip  philosophy and somehow, I convinced myself that if I ignored them, I wouldn't be as stressed out. Of course, that financial fairy tale didn't (and still doesn't) work! The more I ignored them, the more intense they tried to reach out to me. As they should have!

I finally realized that if I continued to ignore and prolong the situation any further, I was going to suffer more mentally, emotionally, physically and financially. So, despite the negative social and financial consequences, I had let it go and walked away. 

   

Yes, it killed my credit and my credit score. And, YES, I was not able to apply for a mortgage for several years after. BUT... there was LIFE AFTER FORECLOSURE.

I am clear now as to why I had to go through this. I had to experience the negative consequences of my financial ignorance, bad financial decisions and bad timing. I had to experience and feel the pain. This experience helped me to become more compassionate to better help others going through this and similar financial issues. This test turned into my Testimony to share the lessons learned about some consequences and benefits of certain financial decisions, actions and non-actions.

I don't blame my bank for my foreclosure! I wasn't in an exotic mortgage and I was fully aware of the terms and agreements of the mortgage contract. Not all banks or credit unions were involved in the mortgage C-O-N-spiracy. Most financial institutions helped consumers obtain the American Dream to own their own home.  I completely accept responsibility for my bad financial decisions and especially my financial ignorance.  

  

The GREAT NEWS is that today there are now hundreds of reputable resources to help homeowners who are facing foreclosure today. 

• Click here for a summary of the Foreclosure Prevention Act of 2008. Know your rights!
• Operation HOPE also has a wonderful Foreclosure Prevention Program. Contact an office in your city or state.
• The Neighborhood Assistance Corporation of America (NACA) has a Home Save Program. Go to their website at www.NACA.com to locate an event in your city or state.

Also, most financial institutions have their own Financial Prevention programs or departments that may be able to assist you.

Whatever its worth, you are not alone and there is help. So please ask if you feel or think you might need help before it's too late. If you are on the verge or are now going through a foreclosure, make sure you have a Financial Resurrection Plan. Look out for my blog about the benefits of a Financial Resurrection Plan.

Financially True,

  

Tarra Jackson ... Making Money Sexy




If you need more information about creating a Financial Resurrection Plan, feel free to contact me.

SUSTAINABLE TRENDS & UNSUSTAINABLE ONES

Today I’m going to start off with a look at the big picture. The next chart pretty much says it all.

 
There is a fundamental reason why gold has been going up for 13 years. That same fundamental is driving the cyclical bull markets in stocks.

For gold the fundamentals are sustainable and that’s why the gold chart is rising almost parabolic inter-spaced with normal corrections/consolidations along the way.

For stocks the fundamentals aren’t sustainable. You can’t drive a true bull market in stocks by printing money. It just creates bubbles and crashes. That’s why each one of these bull markets is followed by a devastating bear market. It’s why the stock market chart has gone nowhere in 13 years while gold has gone up, up and away.

Until the fundamentals change this pattern isn’t going to change. Pretty soon the stock market is going to stagnate and start to drift sideways (followed by another bear market, probably due to bottom in 2016). Pretty soon gold is going to generate another C-wave leg up (followed by another sharp move down into the next 8 year cycle low, also due in 2016).

Gold:
Did we bottom two days ago or not? I don’t know. What I do believe is that the QE4 manipulation has basically created a double B-wave bottom. As we saw last summer, B-wave bottoms are frustrating SOB’s that whipsaw back and forth until everyone is knocked off, or dizzy and ready to puke. Then they take off and leave everyone behind.

 
I think gold is in the process of breaking the manipulation but as we have seen it’s been tough to get a sustainable trend going. That is the hallmark of a B-wave bottom. Ultimately I think the manipulation just stretched the precious metals markets much further to the downside than would have occurred naturally, so once gold breaks free of this volatile bottoming process the rally will be just as aggressive if not more so than the rally out of the first B-wave low last summer.

As we saw last summer, B-waves can churn to the point were it’s pretty difficult to determine correct cycle counts. It appears to be happening again. Considering the current daily cycle is left translated it should drop back below $1555 before bottoming. That being said today’s move looks like the cycle low may have come on Friday. I wouldn’t count on gold to give us a clear signal in this environment though. So it’s anyone’s guess if we now  have a strange left translated daily cycle that bottomed above the prior low.


For those of you trying to hold on to positions during this mess let me put up two more charts.

On the gold chart you can see the level that triggered a 99 and a 98 Blees rating on the COT report. Historically that kind of extreme only occurs when price is at, or very close to a final intermediate bottom.

You can also see that this price level generated an 88 million buying on weakness day in GLD. Again this is almost always a sign that price is about as low as it’s going to go. Let me emphasize I said price, not time. Just because price has reached a level that halts the selling doesn’t necessarily mean that a sustained rally will start immediately. As we have seen the market may still have to chew up a significant amount of time before it’s ready to take off.
In our case I think gold is waiting for the stock market to stagnate before hot money starts to flow back into the sector.


So we may have one more lower low to endure before this is over, and we may not, but two years from now traders will be knocking their head against the wall saying “all the signs were there, why didn’t I buy?” Or; “Why didn’t I hold my Old Turkey position?”


 
This bottom is going to be too complex to time perfectly, and even if it did bottom on February 20th it’s already shown that it can still throw most people off just by chopping back and forth for a month. Maybe that chop has finally ended. Maybe the daily cycle is still going to make one more trip below $1600. I’ll let others compete to see who can second guess the next wiggle in the precious metal markets. All I can say is that the signs are there. Save your head the abuse two years from now and pay attention to them.

Financial Spring Cleaning Tips

... have you (or someone you know) ever thought about doing some Spring Cleaning with your Finances? I have.
  

It's SPRING!!! Yes! It's that time again.  Out with the old to make room for the new!  Spring is the season of newness!  Time to put away all of the winter clothes and blankets and bring out or make room for the Spring and Summer stuff. If you are planning to do some spring cleaning this year, are you planning to do some Financial Spring Cleaning?


Financial Spring Cleaning is just as, if not more, important as Spring Cleaning in your home and closet. Here are a few tips on Financial Spring Cleaning with your Paperwork, Wallet, Credit Report and Budget.


PAPERWORK - SPRING CLEANING

• FILE ESSENTIAL DOCUMENTS / SHRED NON ESSENTIAL DOCUMENTS. If you have a desk, filing cabinet, drawer or box full of old bank statements, checks, bills, or other financial documents, sort through them carefully and keep only the important documents that you know you will need to reference at a later date. Do NOT just throw the documents away in the trash. If you do, you are begging to be a victim of Identity Theft.  If you do not own a shredding machine at your home or do not have access to one at your job, take your shred box to a local Shredding Company.  They are awesome!  Just dump, watch it get shredded and drive away! Search for a local Shredding Company or ask your local financial institution if they do Shred Events.

• GO GREEN / PAPERLESS.  Most financial institutions encourage their customers to sign up for electronic statements. This is more cost effective for them because they save money on paper, ink, postage and mail service. This is beneficial to you because you don't have to worry about more paper coming in the mail.  Don't fret! If you need to have a hard copy of your statement to audit or review, you can simply print you statements via online banking.

WALLET - SPRING CLEANING

• REDUCE THE PLASTIC.  If you have more than one debit or credit card in your wallet, you may be setting yourself up for over spending. Or worse, you may give that thief who stole your wallet access to all of your money and credit. Save the planet and just PICK ONE already! Only having one debit or credit card in your wallet to use for a purpose is the best way to control spending.  

• USE CASH! A wallet is for cash!  Keep cash in your wallet to see exactly how much you are spending.  The may help you with a new financial reality check.

CREDIT REPORT - SPRING CLEANING

• GET IT FREE! Before you decide to apply for credit anywhere, you should know your credit status. Lenders should NOT know your financial reputation before or better than you! Being afraid of what is reporting is no excuse for not getting a copy of your credit report.  You should know what creditors are saying about you. You never know, the stuff they are saying and reporting about your could be false "rumors."  You will want to nip that in the bud sooner than later. You can get a FREE copy of your credit report at least once a year at www.AnnualCreditReport.com or by calling (877) 322-8228.

• SET THE RECORD STRAIGHT! If there is false information reporting on your credit report, it is your obligation to set the record straight and get it corrected.  Creditors are going to notify you that they are reporting information incorrectly!  This is YOUR financial reputation we're talking about.  It will suck when you are declined for credit because of information that is incorrect. Each credit reporting company (Equifax, Experian and TransUnion) has an online process to dispute incorrect information. They also provide detailed instructions on how to dispute information via mail as well.  Get started at www.AnnualCreditReport.com.

  
BUDGET - SPRING CLEANING

• GET ONE! If you do not have a written budget, this is the time to get it together.  Once you see where your money is going money, it will help you make better financial decisions. If you need help creating a budget or spending plan, click here for my FREE eBook on 5 Steps to Building a Budget that Works. 

 

• UPDATE IT! A budget or spending plan is a living and breathing document. There are some things that may have changed within a year, which may require changes to your budget. So, if you do have a budget established, now is the time to review it and update it as necessary. Who knows, you may have a few extra bucks to save or to pay off another debt. Better yet, treat yourself if you were able to stay on target with your budget! You deserve it.

  

Click here for more tips or to schedule your FREE Financial Consultation.

Kudlow's Radio Interview with Jimmy Kemp

Kudlow: I was talking about Jack Kemp my mentor, the late Jack Kemp, the great Jack Kemp, my friend and mentor, and his great message of economic growth and opportunity for all.  I want to emphasize those last two words- for all.  Nobody, in my lifetime, in either party, has reached out with a message of hope, growth and opportunity to minorities better than Jack Kemp. And I want to bring in my pal, Jimmy Kemp, who runs the Jack Kemp Foundation because, Jimmy is now the keeper of the scrolls and he is also a great friend.  Jim, how are you buddy?

Kemp: I’m great Larry, how are you?

Kudlow: I’m okay uh you know, there’s some scattered, you see some scattered columns and websites that talk about where’s the Jack Kemp, the new Jack Kemp in the Republican Party but, it was Jack’s message- I gave a talk, it was very funny, I gave a talk to the Wall people, the Manhattan, New York Republican Party and I’ve done this a little bit on the Kudlow Report, we had a whole Jack Kemp segment two nights ago-

Kemp: I saw it.

Kudlow: Alright, what I remember, let’s put the tax cuts aside for a minute, as important as they are, what I remember, particularly when Jack was the Secretary of HUD, because I was one of his volunteer kitchen cabinet there; Jack wanted Empowerment Zones-

Kemp: Enterprise Zones.

Kudlow: Enterprise Zones, tax free Enterprise Zones-

Kemp: Not tax credits, but tax free, you’re right.

Kudlow: and as much home ownership as possible for minority groups.  Jack went to the projects, he actually went to the projects in Detroit, Chicago, L.A., and New York.  He worked with Charlie Rangel, the great, black Congressman in New York City and we developed what became Empowerment Zones here in New York City.  My wife’s art studio is in one, I mean am I wrong here?  Is my memory betraying me?

Kemp: No, no of course not and part of what Dad understood is that- good policy, as great as Kemp-Roth was at cutting tax rates at that time, which was, reflecting on it, it was obvious tax rates were confiscatory. You couldn’t have them that high and have a growing economy. But he also knew at the same time, back in the 70’s, way before he was at H.U.D., but in order to have good policy it can only be policy that can be passed and in order to pass it he had to get Democrats. Larry, he was a Republican in a Democrat controlled House of Representatives and yet they had President Reagan in 1980, but he had to convince people, like Charlie Rangel, that he really did care. And that these policies that were “conservative,” he liked to call them liberal, because they were intended to free people to provide equal opportunity and knew that tax rates went along with providing that equality of opportunity in the housing sector, for people starting businesses in ghettos or barrios or poor urban areas, wherever they were. He knew that capitalism without capital is nothing but an ism, as Jesse Jackson had said and you had to get capital to people who would do something with it. He trusted people, and, as you pointed out, all people, not just rich folks who went to good schools.

Kudlow: See that’s the thing. Now the Republican Party is, some people in the Republican Party are trying to open up immigration reform. I’m all for it. Your dad believed that immigrants were a positive force.

Kemp: E pluribus unum.

Kudlow: Right. He would have been on the right side of that issue today. But, you know, Jimmy, It’s just like reaching out and saying okay we’re going to give you a green card, that’s not really the answer. I mean what I’m saying is Jack Kemp had a set of policies, besides low tax rates, he had ownership policies, he had empowerment policies, he had, let’s see, no capital gains tax if you moved a business into an Empowerment  Zone, which would attract capital and people. There was human capital and financial capital. Kemp visited the projects, I want to emphasize it, Kemp met with La Raza Hispanics. Kemp visited the projects. When we were negotiating back in , I don’t know when this was Jimmy, 1991, Jack sent me to a couple of meetings with La Raza with his Rep. to try to figure out how to get a zero capital gains tax and La Raza backed it. They actually backed it. Now, Republicans don’t do that anymore. They don’t show up in the projects, they don’t go to a La Raza meeting, they don’t get photographed with Hispanic leaders and black leaders anymore. That was stuff Kemp did, it was great stuff. Why doesn’t anybody do that now, follow his example

Kemp: Well, the greatest example and a guy we all love and respect, Paul Ryan, who worked for Dad. H made the calculated decision to focus on our incredible budget deficit and the spending that was out of control in the entitlement programs and led, Larry as you know, it took him away from the main thrust of Dad’s career. And there isn’t anybody who has jumped into that, really opportunity, the way that Dad took the reins, and there are a lot of great leaders today. I’m not discouraged. Part of our purpose at the Kemp Foundation is to help support or political leaders and we’re certainly not pessimistic because we certainly couldn’t have the name Kemp associated with us if we were. You’ve got governors who are doing the right thing, you’ve got plenty of congressmen and senators, but we do need a more robust discussion of the components of an economic policy because there should never be any discussion of a new normal, I know you hate that phrase. This country has too much capability and abilities, not only in the board rooms, but in classrooms around the country.

Kudlow: Growth should be unlimited. Just to reset the table, we’re talking to Jimmy
Kemp who is the president of the Jack Kemp Foundation. I am holding up, you see these stories about Jack Kemp, one story was written, “We need entrepreneurs like Jack Kemp.” Okay, I’m fine with that, but I don’t want to miss the essential point here, the essential point; Jack’s goal was growth, in other words, if you grew the economy rapidly through lower tax rates, less regulation and sound money, if you grew the economy that was a weapon to shrink the budget deficit and the debt. That was Jack’s way out. That didn’t mean he’d vote for spending bills that were unnecessary, but he understood that debt to GDP, that Republicans obsess about all the time, you solve that, in some sense, by growing the GDP.

Kemp: Sure, you want a bigger pie.

Kudlow: Bigger pie! And secondly, with the debate about so called Republican outreach to minorities look at what Kemp did. Kemp didn’t do it just to win votes, he had a program. Let’s go through it again, it was home ownership, it was enterprise zones, it was tax-free enterprise zones. He would go to the meetings and the rallies and meet with the leadership. He already showed the way. What we need is a Kemp biography here to let people read this stuff and that’s what he did, he was a one-man band. Some Republicans made fun of him, the country club crowd made fun of him, Jimmy, but we should follow his lead now.

Kemp: Well, yeah, the Kemp Foundation has a biography in the works and then we’re also releasing, in 2013, all of his speeches, which were previously released in a volume called the American Idea. And American Renaissance, we’re going to put out as well. The American Idea will have all of the speeches that were in it previously, but a bunch added to it.

Kudlow: Who’s doing the biography Jimmy? We only have 25 seconds. Who’s doing the Biography Jimmy?

Kemp: We’ve got Mort Kondracke and Fred Barnes working on it.

Kudlow: I did the oral history. I want to see that. I want to work on that biography.

Kemp: Alright.

Kudlow: Jimmy Kemp, president of the Jack Kemp Foundation. That was Jack Kemp’s message, hope and opportunity for everybody, including minorities. I’m Larry Kudlow and we’ll be back with some budget talk on the other side of the break.

One-on-One with Dr. Ben Carson

3 Ways to Sabotage Your Credit Score

...Have you (or someone you know) ever wondered why when you think you are doing everything right regarding your credit, your credit score still takes a dive? I have.

  

Don't worry.  You are not alone.  I have been asked about this by numerous consumers and almost all of my clients.  The Credit Score is a calculation of credit performance behaviors that tell how risky you are to lend or provide a certain service to.

The quick way to remember the Anatomy of the Credit Score is S.P.A.D.E.  SPADE stands for 

• Spending (30%) - how much  of your credit cards or revolving debt do you use? 
• Payment History (35%) - how are you paying on all of your credit accounts? 
• Age of credit (15%) - how long have you had experience with credit? 
• Diversity (10%) - what experience do you have with different types of credit? 
• Exposure (10%) - how many times do you allow your credit report to be viewed?

What makes the credit score calculation so complicated is that there are some things that we do, that seem to be good common sense actions, that actually reduce our credit scores.

Here are the Top 3 Ways to Sabotage Your Credit Score.

#1:  CLOSING PAID OFF CREDIT CARDS

This seems like a wise and financially responsible thing to do right? RIGHT!!!  But, this action will actually have a negative impact on your credit score.  This affects the Spending category of the credit score, which is 30% of the score.  Credit scores rely heavily on utilization of revolving debt, like credit cards or lines of credit. So, if you close your credit cards, your utilization will be Zero. Not Good!  This is why you may see a dip in your credit score.

HELPFUL HINT:  Keep your credit card or line of credit balances at or less than 30% or the credit limit.

#2: OPENING DEPARTMENT STORE CARDS FOR 10% DISCOUNT
OK, Reality check ... You will not get a 10% on your purchase if you revolve a balance at 18% APR or higher.  The purchase will actually end up costing you more than the 10% you thought you saved.  Besides this misnomer, this action will have a negative impact on your credit score because it affects up to 3 categories of your credit score: Age (15%), Exposure (10%), and possibly Spending (30%)!  That's potentially 55% of the credit score negatively affected.

Here's quickly how this works: 1) You now have a new account reporting on your credit report, which affects the Age category; 2) That inquiry when they pulled your credit report to see if you qualified for the card affects the Exposure category; and 3) if the credit limit given is right above the amount you charged, this will affect the Spending category.

HELPFUL HINT: Don't believe the hype! Use a card you already have or better yet ... use budgeted CASH!

#3: THOSE PESKY SMALL COLLECTION ACCOUNTS
You know ... that small balance you didn't know you owed your doctor because your insurance didn't pay for it. Or that ticket you got in Atlanta. (Sorry ... venting).  Yeah, those.  Here's the thing, the amount doesn't matter when it comes to collection accounts.  So, whether the amount is $50 or $5,000, the negative hit is the same.

HELPFUL HINT: Check your credit report regularly or at least once a year. You can get a copy of your credit report for free at least once a year at www.annualcreditreport.com.


Click here to schedule your FREE Consultation.

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"It's what they DON'T report that HURTS!"

... Have you (or someone you know) noticed that there may be some accounts or positive information that is not reporting on your credit report that could help your credit score? Well, I have!

   

We may all be familiar with the fact that there might be incorrect information reporting on our credit reports that are hurting our credit scores with Equifax, Experian and TransUnion.  However, were you aware that there may be positive information that is not reporting on your credit reports that may help your score?

    

Here are TWO (2) things to consider if positive information is not reporting on your credit report.

   

#1: SOME LENDERS DON'T REPORT! 

   

That's Right!  The credit reporting system is voluntary!  Therefore, it is NOT required for financial institutions, buy here pay here organizations, or apartment rental organizations to report to credit reporting companies. Therefore, you may find that your positive payment histories may not be reporting to help increase your credit score.  Some organizations only report negative information; or they may only report to one or two of the credit reporting companies but not all three.

   

HELPFUL HINT:  Before you sign a credit agreement for a loan, ask the organization or financial institution if they report to all three credit reporting companies. 

   

#2: MIX UPS!

   

If you share the same name and may have shared the same address with someone, like a family member (parent/child), trades may be mixed up and reported on the wrong credit file.  Credit Reporting Companies use the Name and Address as the primary matching triggers.  The secondary triggers are date of birth and social security number.  Therefore, this is a common mix up with parents and children who share the same names.

   

HELPFUL HINT:  Include any name suffixes like Jr., Sr., III, etc., on all financial documents and credit applications and agreements. Also, check your credit reports regularly to make sure all information is correct for you.  If there is incorrect information reporting, dispute the information immediately with each credit reporting company, if necessary.

   

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THE DOLLAR AND THE REAL INFLATION STORY

I can’t tell you how many talking heads I’ve watched in the media recently touting the strong dollar. Sometimes I really wonder whether Homo Sapiens are an intelligent life form. Remember this is the same species that created the Tulip mania … and the tech, and real estate bubble.

Folks in the real world it just isn’t possible to have a strong dollar if you are counterfeiting 85 billion of them a month. That’s just basic common sense, which seems to be an extremely rare commodity in the world today.

Yes, markets can be irrational, because humans are driven by emotions. When something goes up or down for a long period of time, our emotions invent reasons for why it’s happening. We convince ourselves that a tulip bulb really is worth more than a house. We justify skyrocketing housing prices far above average income levels by inventing a fantasy that we are running out of land. Of course no amount of fantasy means we can escape reality, just that the longer the illusion extends the bigger the bubble grows before is pops. But there is never any doubt it is going to pop.

There is one reason and one reason only why the dollar index has the illusion of being strong (let’s face it at 82 the dollar is hardly strong. In 2000 the dollar index was at 120).

 
The dollar is strong lately because the yen, pound, euro and Canadian dollar have all been dropping sharply into major intermediate and yearly cycle lows.




 

This is pushing the dollar index up. It doesn’t mean the dollar is strong, just that most of the currencies that the dollar index is measured against are exceptionally weak at the moment. But that may be changing.

On Friday the dollar broke down and breached the intermediate trend line. This is often the first warning sign that an intermediate cycle has topped.


 

If the last daily cycle pivot is broken (lower low) it will almost certainly confirm that the dollar has begun an intermediate decline.

 
There is now extreme risk that the second daily cycle has topped on day 2. That is one of, if not the most extreme left translation I can remember, and is likely to lead to a very large decline over the duration of this daily cycle. Keep in mind there should be another 2 or 3 daily cycles down after this one before the final yearly cycle low sometime in June or early July.

If the dollar daily cycle has topped on day two, then the dollar is setting up to take a real beating over the next couple of months. I’m afraid reality is about to return to the dollar, and the consequences of printing a trillion dollars a year are about to be begin.


Next I want to discuss another subject that should be easily visible, but again a lack of basic common sense prevents most people from seeing what’s right in front of them.

I’m talking about inflation. Now if you believe the governments ridiculous CPI numbers, or the talking heads on TV, you might come to the conclusion that printing 85 billion dollars a month has no long term side effects. You would of course be 100% wrong. It causes inflation. Money printing always has, and always will cause inflation. This time is no different than any other time in history. I can assure you that Bernanke hasn’t been able to repeal the natural laws of the universe. As a matter of fact we have had massive inflation ever since the bottom in 2009.

Because the Fed targets asset prices, it tends to start in those areas that we don’t normally associate as inflationary. Let’s face it, no one is really going to freak out about a rising stock market, but that is the first sign of inflation. The Fed’s liquidity has to land on something, and it usually starts in the stock market first. Unfortunately it always eventually ends up in the commodity markets.

Folks no matter what anyone one tries to tell you, it’s not possible to print 10+ trillion dollars and not get inflation. The Fed would like the inflation to stay in the stock and real estate markets, but as we all know it’s not possible to escape reality, and the reality is that eventually that liquidity is going to leak out of the stock market and real estate markets and find it’s way into the commodity markets. It happened in 2008 and it’s going to happen again.

 
As you can see in the long term chart above inflation began in the stock market and real estate markets in the early 2000′s. It culminated in a massive parabolic spike in commodity prices in the summer of 2008 that destroyed the global economy and spiked oil to $147 a barrel, and gold above $1000 an oz.

This time will be no different. We have massive inflation in stocks, and even an echo bubble forming in the real estate markets. Ultimately the story is going to end the same way as it did in 2008, with a stagnating stock market, a second crash in the housing market, and another parabolic move in commodities. It absolutely will drive another C-wave advance in gold just like it did in 2008 and 2011. Only this time the move will be even bigger. As I’ve noted in several past reports, I’m confident that gold is forming a midpoint consolidation in a very large T1 pattern that should ultimately target about $3200-$3300 at the next C-wave top.

It doesn’t matter whether sovereign central banks impose short term manipulation or how irrational the short term movements get, nothing is going to alter reality, and the reality is that printing a trillion dollars a year is going to drive another C-wave in gold’s secular bull market. End of story.

Can Cyprus Still Sink Stocks?

Say that title fast five times, lol.  The markets are higher this morning despite continued uncertainty in the Cyprus situation.  Officials are trying to put something together to avoid a collapse of the country's two largest banks.  There has been some chatter than a large Greek bank might step in. 

Eurozone officials are also discussing plans for imposing capital controls in order to prevent a run on the banks when they reopen.  This comes as the ECB has threatened to stop providing Cyprus with emergency liquidity support as early as Monday.

Despite the fluid situation there, stocks are higher again this morning, continuing the stairstep pattern we have been writing about.  Retailers are strong this morning after solid earnings reports from Tiffany and Nike (NKE), with the latter stock spiking to new highs.  On the disappointing side, Tibco (TIBX) is down -15% after missing on revenues and lowering guidance.

Asian markets were mostly lower overnight, possibly due to Cyprus worries.  But Europe is mixed to higher so far today.  We expect new on Cyprus to continue hitting the headlines.

The 10-year yield is flat near 1.93%.  The dollar index is lower, but so is gold (near $1608).  Oil prices are up a bit around $93.00.  And the volatility index is down another 3% to 13.50.

Trading comment: The market bent again yesterday but has refused to break.  As I mentioned earlier this week, the longer the S&P 500 chops around in a sideways fashion and consolidates its recent gains, the more likely it is that we see another breakout to new highs.  And when the SPX breaks to new all-time highs (1575) expect the media to glom onto it again and run all sorts of stories about "are we in a new bull market?".

KAM Advisors has long positions in NKE

Consolidating Near High Ground

The market bounced back yesterday but on lighter volume.  Today stocks are lower again, at least in the early part of the trading session.  This is somewhat typical of the action we have seen in recent weeks.

In economic news, the March Philly Fed survey came in above expectations at +2.0, which is a nice turnaround from last month's reading of -12.5.  But it is making this data series a bit lumpy.

Existing home sales for Feb. hit 4.98 million units, which is still higher than the previous month's rate of 4.94 million units.  But homebuilders are pulling back today after hitting new highs yesterday.

In earnings news, Oracle's results fell short of expectations and the stock is trading lower on mixed guidance.  Although all 10 S&P sectors are lower this morning, ORCL's results are weighing on the tech sector which is lagging all others so far.

Overnight, Asian markets were mixed.  Although Japan rallied to hit its best levels in more than 4 years.  China's HSBC manuf. PMI came in above consensus at 51.7.  And New Zealand's GDP rose better than expected 1.5%.

Europe's markets are lower today amid weak economic data.  The manuf. PMI readings for France and Germany were both below expectations and continue to show sub-50 readings (read: contraction).  The overall Eurozone PMI was also below expectations at 46.6 and down from the prior month's level of 47.9.

Also in Europe the Cyprus situation remains unresolved.  Russia is looking like it won't provide any loans and the Cypriot banks remain closed.

The dollar is flattish today and commodities are mixed again.  Ag prices are up a little as are precious metals.  Gold prices are higher to $1613.  Oil prices are down near $92.70.  And copper prices are lower again nearing 7-month lows. 

The decline in copper is not a good sign for those economists who believe copper is a good leading indicator for the economy.  If one is expecting a pickup in global growth, you would want to see copper prices steady or rising. 

The 10-year yield is flattish near 1.93%.  And the volatility index is up 4% to 13.21, still below that 15 level we have been watching.

Trading comment: Since breaking out on March 5th, the S&P 500 has rallied as high as 1560 and pulled back to find support near 1540.  Currently it is hovering right in the middle of that 20-point range at 1550.  Obviously a break in either direction would be telling for the market.  But the longer the market trades in this sideways choppy fashion the more likely it is that we see another breakout to new highs.  That has been the pattern for months now, and until we see a change in character for the market the playbook that has been working is to expect more of the same.

Market Suffers First 3-day Pullback in 2013

The market closed lower yesterday for a third consecutive day.  That was the first 3-day losing streak for all of 2013, a pretty rare feat.  For those that follow "bullish stampede" rallies, this was one of the longest ones on record but the 3-day losing streak brings it to an end.  Fortunately for the bulls, the history of these long stampedes is that after a rest the market usually continues to do well.

Yesterday the market sold off fairly hard after the bank levy tax was voted down in Cyprus.  This morning there are more headlines out of Europe regarding Cyprus.  Futures got a boost this morning after rumors crossed the wires that Russia was going to offer some aid of its own.  But this report was refuted by Russia.  Germany's Merkel said she expects Cyprus to make a new proposal to the Troika.

Here in the US the Fed completes its 2-day meeting today and will release its statement.  We expect to hear more of the same from the Chairman, and that they want to maintain low interest rates and accomodative monetary policy until there are more concrete signs that the economy is on solid footing and unemployment is going down.

The dollar is weaker today but commodities are mixed.  Oil prices are up to $92.66 but gold prices are lower ($1608) as are silver prices.  Copper prices are higher and ag prices are up a bit.

The 10-year yield is a little higher to 1.93% right about on its 50-day average.  And the VIX is down 11% this morning down to 12.75.  While the low levels in the VIX haven't been pointing to heightened volatility in the market, the VIX index itself has become more volatile lately, with 10% daily swings becoming more frequent.

Trading comment: Dip buyers stepped in yesterday when the market was at its lows such that by the close the markets had recouped about half of their losses.  This morning the markets are nicely higher.  After a 3-day dip a bounce should be expected.  The S&P 500 is only 8 points away from a new high.  If that level is recapture soon, it would be another bullish sign.  But I would not rule out a bit more sideways consolidation first.  We started to put some money to work in equities yesterday and will continue to do so on pullbacks.

Housing Data Still Improving

The markets were higher in early trading but have since faded back to the flat line on the session.  The worries over the Cyprus bailout are still present, but the selling pressure lessened as yesterday's session wore on.

In US economic data, housing starts rose to 917,000 units in February from 910k the prior month.  Building permits increase to 946,000 in Feb from 904k the prior month.  So housing data continues to improve, and with housing being a big sector that should help support this fledgling economic recovery.  With home prices firm, that also supports the wealth effect which ties into consumer spending.  We are playing the housing trend via the home construction etf (ITB), which broke out to new highs today.

In Europe, the Cypriot parliament was expected to vote today, but it has been pushed back.  The banks remain closed, and trading in their stock market has been suspended for two days.  The country's president said that "parliament is destined to reject the bill."

Europe's markets are mixed today.  Germany's ZEW economic sentiment survey came in slightly ahead of expectations at 48.5, but the Eurozone ZEW survey was well below consensus at just 33.4.  Spain's bad loan ratio ticked up in January to 10.78% from 10.44%.

Asian markets were mixed to higher overnight.  The Reserve Bank of India lowered its key rate 25 basis points to 7.50%.  Australia monetary policy minutes left the door open to further rate cuts.  And the People's Bank of China announced plans to drain 39 billion Yuan through short-term repo agreements (tightening monetary policy).

The dollar is flattish today, and commodities are mixed.  Ag prices are higher, as are precious metals.  Gold is trading up near $1611.  Oil prices are slightly lower so far to $93.46.

The 10-year yield is easing back further, below its 50-day support to 1.91%.

And the VIX is another 2.5% higher to 13.70 after a big spike higher yesterday from its very low levels reached last week.  The spike in the VIX should not be a surprise given how low it had gotten.  All we needed was a small catalyst, and Cyrpus fit that bill.  It will be interesting to see if it gets back around that 15 level that it spent several months at or if it continues to hover in this new lower trading range.

Trading comment: The S&P 500 has not had more than two consecutive down days so far this year.  If it closes lower today that would mark the first such occurrence in 2013.  So today is fairly important in that sense.  It would be healthy for the market to continue to pull back and consolidate its recent gains.  There are still lots of folks who feel they are underweight equities at this juncture and are waiting for such a pullback to get in.  We have said that the market rarely accommodates the consensus wishes, so be alert for some twists in the script. 

KAM Advisors has long positions in ITB

"Karen thought she needed to get second job. I told her NO!" - Here's why ...

... Have you (or someone you know) thought a second job would help solve your (or their) Cash Flow problems? Well, I have!

Karen, a single mother and successful corporate executive, made good money (over $80,000 a year). When Karen started her coaching sessions with me, she told me that she was thinking about getting a second part-time job to be able to pay all of her bills and build her savings.  I told her NO! I gave her several strategies that helped her save about $5,000 in a year.
  

Here are TWO (2) of the strategies that I coached her through.
  

CASH FLOW STRATEGY #1: EAT IN!!! 

  

Karen admitted that she hated to cook, so she and her son ate out frequently. She also bought her lunch everyday during the week. She spent an average of at least $30 per day. Instead of telling her to stop eating out cold turkey, I suggested that she eliminated eating out for one meal.  She would at least save $10 per day.  She decided that she was going to take her lunch to work.  

  

Karen saved $10 per day, $50 per week, which totaled $2,600 for the year.
   

CASH FLOW STRATEGY #2: STOP NAME DROPPING!!! 

  

Karen admitted that she was fixated on buying "Name Brands" when she went grocery shopping. So, Karen and I went grocery shopping as a Field Trip. When she picked out something that was "Name Brand," I picked a "Generic Brand" to compare ingredients and PRICE!  She realized that most of the Generic Brands had the same ingredients with LOWER PRICES. During this Field Trip, Karen saved almost $100 on her grocery bill and got more food (to make her lunches). Karen went grocery shopping twice a month. 

   

That's $200 savings per month, which totaled $2400 for the year.

  
   

In one year, Karen saved about $5,000 without getting a second job. Her part-time job became making her lunches and implementing the strategies she learned during our coaching sessions. 

   

This allowed her to spend more time with her son!

  

Lesson:  It's the little changes that make a BIG difference!
   
   

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Monday Morning Musings

The markets have opened on a weak note following selloffs in overseas market due to the unpopular bailout proposal for Cyprus.  Cyprus is a tiny country, but the ramifications of the terms of their bailout have the potential to spook investors across Europe.

The Troika said that for Cyprus to receive Eurozone bailout funds, the country would have to enact a 'stability levy'  on its citizens which would call for a tax on bank deposits of 6.75% - 9.9%.  This provision is not going to go over well, and citizens were lining up at their banks to pull money.  The banks have been unable to open, and may not open until Thursday.

The reason why other markets are watching so closely is that this is a new provision of the bailouts, and if this tax is levied on Cyprus people are left to ask who is next?  Could this happen to citizens in Spain or Italy?  That would lead to huge runs on the banks.  But this is a worst case scenario, and it is more likely that the damage is contained to Cyprus and viewed as a one-off.  That said, it bears monitoring.

In economic news in the U.S., the NAHB Housing Market index came in at 44 vs. 46 in the prior month.

Asian markets were down across the board overnight after news of the Cyprus bailout.  Japan was down -2.7%.  China's house prices rose 2.1% last month.  And Hong Kong's unemployment was in-line at 3.4%.

Europe's markets are also lower today.  A flight to safety can be seen in the German bunds where the 10-year yield traded down 6 basis points to 1.40%.  That's even lower than the U.S. 10-year yield which today is lower by 5 basis points to 1.95% and sitting right at its 50-day support.

The volatility index is spiking today, up 13% so far to a still relatively low level of 12.85.

Trading comment: The Cyprus news could turn out to be much ado about nothing.  But as our markets have been marching relentlessly higher it is certainly seen as enough to take some profit taking.  So far the selloff doesn't appear to have the teeth behind it to really scare investors.  Unless we see a much steeper selloff into the close I would expect dip buyers to show up again in the next day or so.  That would fit into the continuing stair-step market pattern.  We have not done any buying yet, but will likely dip our toe into the water today while still keeping some powder dry to do more buying if we continue to pullback.

Odd Drop In Consumer Sentiment

I haven't dig into the numbers, as I'm only an armchair economist but today the Univ. of Michigan consumer sentiment index dropped to 71.8 from 77.6 last month.  That's a pretty big drop, and its lowest level since December 2011.  I would be willing to bet that there has never been a drop that large at the same time the Dow was making new highs.

Other consumer sentiment figures don't seem as bearish, so maybe this will turn out to be just a one-month blip.  We shall see.

In other economic news, Feb. industrial production rose 0.7%, above expectations.  And capacity utilization ticked a bit higher to 79.6%.

Financial stocks are mostly bucking the weakness after the Federal Reserve released its latest stress test results.  Only Ally Financial and BB&T failed to meet the requirements.  Other banks, like Bank of America (BAC) and Wells (WFC) either raised their dividends or increased stock buybacks.

Asian markets were mixed overnight.  China's foreign direct investment fell 7.3%.  Singapore's retail sales declined -2.0%.  And the cabinet of Japan's PM raised its economic assessment for the third month in a row.

European markets are modestly lower.  The Eurozone CPI rose 1.8%.  And the Troika agreed to give Portugal a one-year extension (until 2015) to reach its 3.0% budget deficit-to-GDP target.

The dollar is lower today and helping some commodities.  Oil prices are higher to $93.40.  Gold is up near $1595 and silver prices are higher also.  But ag prices and copper are lower.

The 10-year yield is lower today, back down to 2.00%.  And the VIX was as much as 5% higher earlier, but so far has faded back and is now up just 1% to a still very very low level of 11.40.

Trading comment: I still see folks trotted out on CNBC and every single one of them is calling for a small pullback that can be bought.  Since the market rarely likes to accommodate the consensus opinion, it makes it more likely that we see one of two alternate scenarios: Either the market continues to stairstep higher and frustrate everyone who is waiting for a pullback to buy, or the market sells off harder than most anticipate and scares those who are waiting for an orderly pullback to feel comfortable stepping up and putting money to work. 

KAM Advisors has long positions in BAC and WFC

Investors Like Trend In Jobless Claims

The market is higher again in early trading with the S&P 500 getting closer to its all-time highs.  I would expect another round of media hype touting the stock market once this happens.  The S&P really needs to get above 1575 to make an all-time high.  It is currently near 1560.

In economic news, today's weekly jobless claims were pleasing to the economic bulls.  Jobless claims declined by 10,000 to 332,000.  This marks the 3rd consecutive reading below the 350k level which was basically the floor for most of last year.

Asian markets were higher overnight.  The Bank of New Zealand held rates unchanged at 2.50%.  S. Korea's central bank held their rates steady at 2.75%.  And Australia's  unemployment rate remained at 5.4% vs. expectations for an uptick to 5.5%.

Europe's markets are also higher today.  Spanish retail sales fell -10.2%, but this was a smaller decline than expected.  In Greece, reports indicate the Troika left without reaching a final agreement on the next tranche of aid.

The dollar is a bit lower today, but commodities are mixed.  Oil prices are a touch higher to $92.75.  Copper prices are higher also.  But gold prices are lower near $1585, silver prices are down, and ag prices are slightly weak as well.

The 10-year yield is hovering around 2.05%, a level its been flirting with for the last 5 days.  And the volatility index continues to trade down, now around 11.65.  This is a very low level.  The last time we saw the VIX this low was April 2007.  It's not a perfect timing indicator, but I would expect a selloff in the near future that causes a spike in the VIX from these low levels.

Trading comment:  The stairstep market continues, and we are beginning to sound like a broken record.  The S&P paused briefly for 2 days and is attempting to work its way higher today.  Of course, the longer this steady uptrend continues the more complacent folks will become and that could set the market up for a bigger correction.  But as of now we have not seen sentiment get too complacent.  The AAII survey of individual investors comes out today, but for the last 2 weeks it has shown more bears than bulls it its survey, a rare occurrence with the markets at fresh highs.

One-on-One with Congressman Paul Ryan

Retail Sales Rise In Feb

The market is roughly flat in early trading, and once again yesterday we saw sellers try to push the market lower but dip buyers again showed up late in the day and helped save the Dow and keep in in positive territory.  The S&P closed only slightly lower on relatively light volume.

In economic news, retail sales for the month of February rose 1.1% which was better than expected, and up from the prior month's reading of 0.2%.

Utility stocks are leading the early action, while the materials sector is lagging.  Financials are up slightly so far.

Asian markets were lower across the board overnight, led by a 1.5% drop in Hong Kong over concerns about a slowdown in China's property markets.  S. Korean unemployment was reported at 3.5%, slightly ahead of what the market was looking for.

European markets are also lower today, led by a 1.6% drop in Italy.  Eurozone industrial production declined 0.4%.  Italy auctioned off 3-yr debt at a yield of 2.48% vs. 2.30% from the previous auction.  And reports indicate the Troika and Cyprus are in talks regarding a smaller bailout agreement for the troubled nation.

The dollar index is trading higher today, and weighing on commodities.  Gold is lower near $1586, and silver and copper prices are lower also.  Ag prices are down today as well.  Oil prices are bucking the trend and trading higher to $93.08.

The 10-year yield is higher today, within its recent range and trading at 2.05%,

The volatility index remains remarkably low at 12.32.  When the VIX is this low, we often see a selloff in the market even if it turns out to be brief.

Trading comment: Waiting for a market pullback continues to be a difficult plan.  We have been looking for situations to add to stocks that have been performing well but are not too extended in price.  That list isn't too large these days as many stocks have had big runups and look like they are in need of a rest at this point and not worth chasing.  But investor sentiment is not nearly as high as we would expect with the market at new highs, so we continue to think pullbacks will be brief affairs in this environment.