Welcome To New Readers

IMG_2264 Welcome To New Readers Over the past few weeks the number of visitors to this website has grown dramatically and I am thankful for that. My goal here is to inform you about the financial issues that will have a great impact on you and your family. I spend a good portion of my day researching all things financial. The topics I believe you should know about are posted here with my comment and opinion. I suggest you listen to my weekly radio shows that are archived here. My WOBM show in New Jersey airs live Fridays 9am ET. You can listen live at WOBMAM.com The show is archived right here on my website as well as WOBM’s website. (click “ON AIR” and then click on FRIDAYS) You can follow me on Twitter and Facebook. I post many important financial tips on both sites. Check out my YouTube Channel, I have videos of many of my 70 TV appearances  including my national appearances on Fox News, Fox Business, First Business, The Buzz and Better Living. I love receiving e-mails from my readers and listeners. If you have a financial question, comment on the show or a suggested topic contact me at [email protected] I promise to answer each and every e-mail, please be patient I get many e-mails every day. I produced a reality TV Pilot a few years back, check it out here. Make sure you have a tissue handy, it get’s quite emotional. Juliet passed away 12 months after we shot the program. We are still pitching the program to major TV channels. As part of The Financial Physician family you have to own your copy of “The Financial Physician: How To Cure Your Money Problems and Boost Your Financial Health. Welcome aboard, I hope you find this website informative and entertaining. Lou

5 New Year’s Resolutions to Boost Your Financial Health

I wrote this article for Fox Business last year. The link to article is still active. The video below is from New Year’s Day 2011 when I was on Fox & Friends talking about financial resolutions.-Lou

5 New Year’s Resolutions to Boost Your Financial Health

Louis Scatigna, CFP

Make 2011 the year you take control of your finances and add significant padding to your savings.

Here are five financial resolutions that will save you big bucks this year.

1. Prepare a Net Worth Statement

It’s hard to plan for the future without a clear idea of your current finances. A net worth statement provides a good picture of your economic situation by quantifying all your assets as well as the total of all your debt.

Take a piece of paper and on the left side of the paper list the value of all your assets (use the balances as of Dec. 31, 2009) and on the right side, jot down the balances of all your loans.

Subtract your total debts from the total value of your assets and you arrive at your net worth, the exact amount of money you would have if you liquidated all your assets and paid off all your debts. The goal is to grow your net worth each and every year.

2. Prepare a Cash-Flow Statement (Budget)

Few of us actually keep track of all sources of income and expenses, which can lead to financial problems down the road.

Create a cash-flow statement: Make two columns, one for monthly expenses and one for annual expenses. At the top of the page list all sources of income (wages, interest, dividends, etc) and total up all your income. Now, list every expense in your life as accurately as you can—and be honest. Keep track of your expenditures, including those trips to Starbucks and pesky ATM fees for a month and add them up.

Subtract your expenses from your income, if the number left is positive then that’s how much you can save and invest, if it’s negative that means you’re adding debt to finance your lifestyle. Most families can cut 5-10% from their expenses with a little planning and small changes to their lifestyle.

3. Make Money Management a Joint Effort

In many families, it’s either the husband or wife that handles the household finances, but it shouldn’t be that way–make it a joint effort.

Commit to sitting down each month together to pay the bills, plan for upcoming expenses and discuss ways to save money. Review every credit card bill for accuracy and changes in interest rates. Resolve to pay down the balances as fast as possible and review each investment account statement for performance and risk.

4. Become Financially Literate

The majority of Americans have little knowledge about finances, which leads to costly mistakes. Take the time to learn the different types of mortgages, credit cards and insurance policies. Rent financial literacy books from your local library or hop online to find a plethora of resources for consumers. It’s never too late to become financially literate and your financial situation stands to improve.

5. Be Financially Responsible

We live in difficult financial times so it’s important to evaluate your financial behavior. Do you buy stuff you really need or stuff you want? Can you do without eating out four times a week? Vow to become more frugal this year, bring your lunch to work and plan meals at home.

Bring your lunch to work. Buy an affordable home not a McMansion. Do you smoke two packs of cigarettes or drop twenty bucks at the bar each day. Do the math, you are not only wrecking your physical health but your financial health as well. We now live in frugal times and must adjust our behavior in order to survive and become financially healthy.

 Fox Business Article Link

Welcome New Visitors

Welcome To New Readers

Over the past few months the number of visitors to this website has grown dramatically many coming from my radio show on Voice America and I am thankful for that . My goal here is to inform you about the financial issues that will have a great impact on you and your family. I spend a good portion of my day researching all things financial. The topics I believe you should know about are posted here with my comment and opinion.

I suggest you listen to my weekly radio shows that are archived here. My radio show airs live on VoiceAmerica.com Business Channel Wed 4PM ET and is archived on the site thereafter.

You can follow me on Twitter and Facebook. I post many important financial tips on both sites.

Check out my YouTube Channel, I have videos of many of my 70 TV appearances including my national appearances on Fox News, Fox Business, First Business, The Buzz and Better Living.

I love receiving e-mails from my readers and listeners. If you have a financial question, comment on the show or a suggested topic contact me at [email protected] I promise to answer each and every e-mail, please be patient I get many e-mails every day.

I produced a reality TV Pilot a few years back, watch the full version HERE. Make sure you have a tissue handy, it get’s quite emotional. Juliet passed away 12 months after we shot the program. We are still pitching the program to major TV channels.

As part of The Financial Physician family you have to own your copy of “The Financial Physician: How To Cure Your Money Problems and Boost Your Financial Health.

Welcome aboard, I hope you find this website informative and entertaining.

Lou

The Voter Fraud That “Never Happens” Keeps Coming Back

 

America is no longer the country of our childhood. This woman is certainly not alone, this happens all over especially in the inner cities. This is America in 2013 and it ain’t good.-Lou

 

 

The Voter Fraud That “Never Happens” Keeps Coming Back

National Review Online

 

John Fund

Critics of voter ID and other laws cracking down on voter fraud claim they’re unnecessary because fraud is nonexistent. For instance, Brennan Center attorneys Michael Waldman and Justin Levitt claimed last year: “A person casting two votes risks jail time and a fine for minimal gain. Proven voter fraud, statistically, happens about as often as death by lightning strike.”

Well, lightning is suddenly all over Cincinnati, Ohio. The Hamilton County Board of Elections is investigating 19 possible cases of alleged voter fraud that occurred when Ohio was a focal point of the 2012 presidential election. A total of 19 voters and nine witnesses are part of the probe.

Democrat Melowese Richardson has been an official poll worker for the last quarter century and registered thousands of people to vote last year. She candidly admitted to Cincinnati’s Channel 9 this week that she voted twice in the last election.

This is how Channel 9′s website summarized the case:

According to county documents, Richardson’s absentee ballot was accepted on Nov. 1, 2012 along with her signature. On Nov. 11, she told an official she also voted at a precinct because she was afraid her absentee ballot would not be counted in time.

“There’s absolutely no intent on my part to commit voter fraud,” said Richardson. . . .

The board’s documents also state that Richardson was allegedly disruptive and hid things from other poll workers on Election Day after another female worker reported she was intimidated by Richardson. . . .

During the investigation it was also discovered that her granddaughter, India Richardson, who was a first time voter in the 2012 election, cast two ballots in November.

Richardson insists she has done nothing wrong and promises to contest the charges: “I’ll fight it for Mr. Obama and for Mr. Obama’s right to sit as president of the United States.”

More…

Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued

This is a disaster in the making. Got Gold?-Lou

 

Helicopter-ben-bernanke-1

Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued

 

(CNSNews.com) – So far this calendar year, the Federal Reserve has bought up more U.S. government debt than the U.S. Treasury has issued.

On Dec. 31, the total debt of the U.S. government was $16.4327 trillion and then-Treasury Secretary Tim Geithner announced that the government had hit what was then the legal debt limit. Last week, however, Congress enacted a law to suspend the federal government debt limit until May 18, 2013, and allow the administration to resume increasing the debt.

By the close of business on Wednesday, Feb. 6, according to the U.S. Treasury, the total federal debt had climbed to $16.4799 trillion—an increase of $47.2 billon for the calendar year.

At the close of business on Jan. 2, the Federal Reserve had owned $1.661 trillion in U.S. Treasury securities. By the close of business on Feb. 6, it owned $1.7172 trillion—an increase of $51.1 billion for the calendar year.

Thus, the Federal Reserve’s purchases of U.S. government debt in this calendar year have exceeded the Treasury’s net debt issues by about $3.9 billion.

Also last week, the Federal Reserve announced that it “will continue purchasing additional … longer-term Treasury securities at a pace of $45 billion per month.”

If the Fed continues to purchase $45 billion in additional federal debt each month in 2013 it will buy up another $540 billion in federal debt this year alone.

The CBO currently estimates that the federal deficit for fiscal 2013 will be $845 billion. If the Fed were to buy debt at a pace of $540 billion a year, and the Treasury were to issue it at $845 billion per year, the Fed would be buying the equivalent of about 64 percent of all debt the government issued.

As recently as calendar year 2007, the total debt of the United States increased by only about $549 billion, or roughly equal to the amount of debt the Fed plans to buy this year.

More…

 

DHS Purchases 21.6 Million More Rounds Of Ammunition

Why is the DHS arming itself to the teeth? Maybe they feel that if they buy up all the ammo there will be none left for gun owners. This should disturb you greatly, I certainly am.-Lou

DHS Purchases 21.6 Million More Rounds Of Ammunition

Federal agency has now acquired enough bullets to wage 30 year war

INFOWARS.COM

The Department of Homeland Security is set to purchase a further 21.6 million rounds of ammunition to add to the 1.6 billion bullets it has already obtained over the course of the last 10 months alone, figures which have stoked concerns that the federal agency is preparing for civil unrest.

A solicitation posted yesterday on the Fed Bid website details how the bullets are required for the DHS Federal Law Enforcement Training Center in Artesia, New Mexico.

The solicitation asks for 10 million pistol cartridge .40 caliber 165 Grain, jacketed Hollow point bullets (100 quantities of 100,000 rounds) and 10 million 9mm 115 grain jacketed hollow point bullets (100 quantities of 100,000 rounds).

The document also lists a requirement for 1.6 million pistol cartridge 9mm ball bullets (40 quantities of 40,000 rounds).

An approximation of how many rounds of ammunition the DHS has now secured over the last 10 months stands at around 1.625 billion.

To put that in perspective, during the height of active battle operations in Iraq, US soldiers used 5.5 million rounds of ammunition a month. Extrapolating the figures, the DHS has purchased enough bullets over the last 10 months to wage a full scale war for almost 30 years.

Such massive quantities of ammo purchases have stoked fears that the agency is preparing for some kind of domestic unrest. In 2011, Department of Homeland Security chief Janet Napolitano directed Immigration and Customs Enforcement to prepare for a mass influx of immigrants into the United States, calling for the plan to deal with the “shelter” and “processing” of large numbers of people.

The federal agency’s primary concern is now centered around thwarting “homegrown terrorism,” but information produced and used by the DHS to train its personnel routinely equates conservative political ideology with domestic extremism.

A study funded by the Department of Homeland Security that was leaked last year characterizes Americans who are “suspicious of centralized federal authority,” and “reverent of individual liberty” as “extreme right-wing” terrorists.

In August 2012, the DHS censored information relating to the amount of bullets purchased by the federal agency on behalf of Immigration & Customs Enforcement, citing an “unusual and compelling urgency” to acquire the bullets, noting that there is a shortage of bullets which is threatening a situation that could cause “substantial safety issues for the government” should law enforcement officials not be adequately armed.

As we highlighted last month, the DHS’ previous ammunition solicitation was awarded to Evian Group, an organization that was formed just five days before the announcement of the solicitation and appeared to be little more than a front organization since it didn’t have a genuine physical address, a website, or even a phone number.

More…

This Has Gone Too Far

We are truly living in George Orwell’s book “1984” (a must read and if the last time you read the book was in High School read it again now, it will blow your mind). A 7 year old boy gets in trouble  (“dispended”-cute) for mimicking soldiers in war trying to “save the world” while in the real world American citizens can be murdered by circling drones simply on the President’s order, with no due process or protection of law. This is mind programming of children to get them to act and think the way the government wants them to. Guns are not to be held by the people, only the government should have that right. That is what is happening. This PC stuff has really gone too far. Scotty beam me up!-Lou

 

7-year-old playing an imaginary game at school gets suspended for real

 

WKDV.com

LOVELAND, Colo. — A 2nd grader has been suspended from school in Loveland for a make believe game he was playing.

The 7-year-old says he was trying to save the world. But school administrators say he broke a key rule during his pretend play.

“I was trying to save people and I just can’t believe I got dispended,” says Alex Evans, who doesn’t understand his suspension any better than he can pronounce it.

“It’s called ‘rescue the world,’” he says.

He was playing a game during recess at Loveland’s Mary Blair Elementary School and threw an imaginary grenade into a box with pretend evil forces inside.

“I pretended the box, there’s something shaking in it, and I go ‘pshhh.’”

The boy didn’t throw anything real or make any threats against anyone. He explains he was pretending to be the hero. “So nothing can get out and destroy the world.”

But his imaginary play broke the school’s real rules. The school lists “absolutes” designed to keep a safe environment. The list includes absolutely no fighting, real or imaginary; no weapons, real or imaginary. Click here to see the Mary Blair “Absolutes”

“Honestly I don’t think the rule is very realistic for kids this age,” says Alex’s mom Mandie Watkins.

Alex is like a lot of 2nd graders, perpetual motion. His mom says the little boy doesn’t understand why pretending to be a soldier was wrong. “I think that when a child is trying to save the world, I don’t think he should be punished for it.”

At least one other parent FOX31 Denver talked to agrees with her.

“That’s just a boy growing up,” says Elliott Orozco. “That’s what I did and I didn’t become a bad guy.”

Nevertheless, Alex will be playing at home rather than in the school yard because his mom says he’ll stay home until this can be worked out.

SOURCE

USPS Cuts Saturday Delivery

USPS-Broke

USPS Cuts Saturday Delivery

The United States Postal Service (USPS) is losing $25 million dollars per day. What can it do to cut costs?

Well, officials hope that cutting Saturday delivery will be a good start.

After losing $16 billion in 2012, the postmaster general is expected to announce on Wednesday that the USPS plans to cut Saturday delivery of first-class mail by this summer, according to CBS News. Mail has been delivered on Saturdays for the past 150 years.

The cuts would only impact first-class mail deliveries. Packages, mail-order medicines, and priority & express mail would still get delivered on weekends.

Senator Tom Coburn (R-Oklahoma) says the move will save the USPS about $2 billion per year.

“It’s a proper business decision and (in the) long run, good for the Postal Service and good for Americans,” Coburn said.

Patrick Donahoe, postmaster general and CEO, says market research shows that almost 7 in 10 Americans support Saturday cuts in order to save the Postal Service some money.

“The Postal Service is advancing an important new approach to delivery that reflects the strong growth of our package business and responds to the financial realities resulting from America’s changing mailing habits,” Donahoe said in a statement. “We developed this approach by working with our customers to understand their delivery needs and by identifying creative ways to generate significant cost savings.”

The USPS will make the announcement on Wednesday, a good six months prior to the cuts taking effect, in order to give customers plenty of advance notice.

“The American public understands the financial challenges of the Postal Service and supports these steps as a responsible and reasonable approach to improving our financial situation,” Donahoe said. “The Postal Service has a responsibility to take the steps necessary to return to long-term financial stability and ensure the continued affordability of the U.S. Mail.”

Will the Saturday cuts be enough, or should we soon expect to only receive mail three days a week? Only time will tell.

More in the video below.

Germany’s Gold Reparation and My Recent Silver Coin Purchase

Standard & Poor’s Sued By U.S. For Alleged Fraud

Sure Standard & Poor’s rated sub-prime mortgage bonds artificially high. If not, the banks would not have given them the business (and huge fees). S&P should be sued but so should Moody’s, Goldman Sachs, Bank of America, JP Morgan Chase, HSBC, AIG, Jon Corzine, etc. The question is why is S&P having the hammer fall on them while all others get a pass? Oh, that’s right, the other criminal enterprises did not lower the U.S. credit rating in August 2011. Actually it’s ironic, downgrading the U.S. credit rating only down one notch to AAA- when it should be much lower makes them guilty of what they are being charged with now, artificially rating bad debt higher than it should be.-Lou

US To Sue S&P But Not Moody’s? Not Goldman? What Gives?

 

Forbes

One thing is for sure about the financial crisis and that’s the fact that many are to blame for fueling it.

Photo shows Standard & Poor's headquarters in ...Why then is the Justice Department going after a single credit rating agency?

There’s news today that the U.S. Justice Department is preparing to file civil charges against Standard & Poor’s Rating Services over the way it rated mortgage bonds before the crisis. S&P says the suit, which has yet to be filed, is without merit.

On the surface, going after a credit rating agency for its role in the crisis is not surprising. Credit rating agencies were giving top-notch ratings to what were essentially toxic assets that banks would then turn around and sell to investors. Credit ratings agencies were dubbed “key enablers of the financial meltdown” by the U.S. Financial Crisis Inquiry Commission 2011.

So, yes, it’s the Justice Department’s job to seek out those who caused the financial crisis.

Why then is S&P the only firm the Department is going after in its quest to prosecute those responsible for the financial crisis?  Many firms were responsible for the financial crisis and not one of them is being charged.

To be sure, the Department and the Securities and Exchange Commission have launched investigations against some notable firms but without much to show for it. An investigation into whether Lehman Brothers executives hid its leverage levels came to an end with no charges.

The closest we’ve come to seeing a possible serious charge against a firm is recently in an investigation into whether Goldman Sachs and its employees bet against the subprime mortgage securities while simultaneously selling them to clients. In 2011, U.S. Senator Carl Levin asked the Justice Dept to consider a criminal investigation. In August 2012, the Dept said it would not pursue criminal charges against Goldman Sachs for its role in the financial crisis due to lack of evidence.

In fact, you’d be hard pressed to find any serious charges against any of the big name firms that were front and center during the financial crisis. Bank of AmericaCitigroup, AIG, Morgan StanleyFannie MaeFreddie Mac–nothing.

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