Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR [1]. Today, we look at some new taxes and California’s proposed extra-territorial tax. (See the Taxation section.)
Economy & Finance:
Dire Straits For European Banks? Banks Paying Near Zero On Deposits, Now Charging Fees [2]
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Top 10 Economic Predictions for 2021 [3]
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Allan Stone of the leftist Washington Post: The craziest, creepiest year for financial markets I’ve seen in half a century [4]
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At Wolf Street: Another Piece of the Puzzle of Plunging Credit Card Balances [5]
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Bloomberg: Get Ready for the Great U.S. Inflation Mirage of 2021 [6]
Taxation:
What does the new payroll tax mean for Connecticut employees? [7]
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California’s latest effort to raise taxes on the wealthy could fuel Bay Area exodus [8]. JWR’s Comment: California’s tax-hungry leftist legislators and the oh-so-grabby California Franchise Tax Board remind me of the docking scene from the movie Popeye [9].
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New Jersey Goes After New York For Taxing Remote Workers [10]
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Illinois requires remote sellers and marketplaces to collect local sales tax starting January 2021 [11].
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The new IRS tax brackets are out for 2021, so where do you stand? [12]
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Meanwhile, an additional $4 billion tax bite, up in Canada: 2021 Tax Changes [13].
Equities:
At Seeking Alpha: Tesla: I See Downgrades Ahead [14]
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Another piece at Seeking Alpha that should serve as a word of warning: QQQ’s Breakout Signal [15]
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The Bass Pro – Cabela’s behemoth just got even bigger, with the acquisition of Sportsman’s Warehouse. Here is their press release: Sportsman’s Warehouse to join The Great American Outdoors Group [16]. JWR’s Comment: This is getting downright monopolistic, and does not bode well for gun and ammo buyers, long term. (Thanks to reader B.D. for the link.)
Forex & Cryptos:
Pound hops higher on Brexit mood music [17]
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Bitcoin rallies above $30,000 for first time [18]. (Thanks to C.B. for the link.)
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US targets ripple crypto creators [19]. JWR’s Comments: Holders of Bitcoin shouldn’t feel smug about this news. It is just a matter of time before national governments issue their own sovereign quasi-cryptos and proceed to go to war against all private cryptocurrencies with an onslaught of regulation and taxation. Count on it!
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How The Chinese Use Illegal Online Gambling And Tether To Launder Over $1 Trillion Yuan [20]
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At Forbes: Bitcoin 2021: What Next? [21]
Tangibles Investing:
From an Arizona news outlet: Gun sales hit record in 2020, driven by pandemic, protests, politics [22]
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Housing Market Goes Crazy, Everyone Sees It Can’t Last, and then the First Dip Appears [23]
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos [24] page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR [1]. (Either via e-mail of via our Contact form [25].) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. And it need not be only about commodities and precious metals. Thanks!
Comments Disabled To "Economics & Investing For Preppers"
#1 Comment By Joe On January 4, 2021 @ 12:03 pm
You can expect a dramatic increase in new housing prices for awhile. I just saw 2″x4″x8′ studs at $5.79 each at the local big box store. This is over double from the first of 2020.
I am going to put off an addition I was planning on doing this summer if these prices stay this high.
#2 Comment By St. Funogas On January 4, 2021 @ 3:39 pm
Hey Joe, ditto here. I did a ceiling insulation project last week and the chip board (OSB) was clear up to $30 a sheet and the guy said it was slightly cheaper to just buy ½” plywood. Even that was out of my comfort zone so I ended up using ¼” Luan at $15 a sheet. I was getting OSB for cheaper than that a year ago. I was planning on putting a pergola on the back deck last fall but when I penciled it out at $300 and it was $550 when I got updated pricing on treated lumber, I shelved the project until I can find $500 laying in the street. And in the back of my mind I’m wondering if prices will ever get back to where they were in 2019 or even close.
#3 Comment By Tunnel Rabbit On January 5, 2021 @ 8:52 pm
May want to look at the advantages of cordwood contruction. It is the wall and insulation.
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#4 Comment By Tunnel Rabbit On January 5, 2021 @ 9:46 pm
Here is a much better introduction to cordwood buildings. If I can afford the cement, I’ll be in business. Based upon the information in this video, one gets 43 percent more square footage for the same length of wall if they build a round house instead of a traditional rectangular building.
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#5 Comment By Dan On January 4, 2021 @ 6:18 pm
Have you looked at making the walls out of straw bales? Fairly cheap, great insulation, and far ore fireproof. You just have to plan a bit better.
#6 Comment By Got to get out of Illinois On January 4, 2021 @ 2:30 pm
2″x4″x8′ studs non-treated were $7.71 each at the local big box store 3 months ago in Illinois. We were building a new woodshed and couldn’t find/get anything treated, so I looked at regular lumber & figured we’d paint. Supposedly it’s because of Covid-1984, minimal employees at the mill, and some of the treatment chemicals being used in short supply because of see the first item.
#7 Comment By Got to get out of Illinois On January 4, 2021 @ 2:33 pm
I almost forgot – There is a youboob video of a guy that builds garages showing his sticker shock when ordering supplies for new builds. Each week it was another jump in lumber prices until like August/September time frame.
#8 Comment By Bama On January 4, 2021 @ 4:45 pm
Bass Pro ruined Cabela’s. 99% of my friends and I don’t waste our time there any more. No inventory, expensive and poor sales force.Never any sales or coupons there anymore- no incentive to go.
#9 Comment By TominAlaska On January 5, 2021 @ 1:23 am
Just picked up eight boxes of premium 9mm at Cabela’s at the normal price. No price gouging. That is coupon enough.
#10 Comment By Bama On January 5, 2021 @ 3:39 am
Care to share the location of this cabelas??
#11 Comment By TominAlaska On January 5, 2021 @ 2:49 pm
Glendale Arizona. Winchester Silvertip and Federal Defense. Very limited supply and sold out instantly. Limit of five.
Regards.
T
#12 Comment By TominAlaska On January 5, 2021 @ 6:17 pm
Just noticed the root of your comment was the purchase of Sportsman’s by Bass Pro. I agree it is bad. And somehow the thought creeps in that gun and ammo sellers will be bought out by the globalists and merchandisers subsequently will disappear. At least the ones operating above ground.
#13 Comment By Krissy On January 7, 2021 @ 10:03 pm
TominAlaska, I share those same thoughts about the company, Jarden, that bought out the canning jar makers’ Ball and Kerr.
#14 Comment By Wagstaff On January 5, 2021 @ 5:16 am
I agree, Bass Pro ruined Cabelas… we have a local Cabelas that used to be a decent store, a little high priced, but not too bad… but when Bass Pro came in, they massively cut back the ammo selection, reloading equipment, etc. and they got rid of the used rifle and surplus rifle racks. They expanded the clothes and fishing gear… they basically kalifornicated the store, making it alot more like the Bass Pro I’ve seen in California.
I actually started going to Sportsmans Warehouse as an alternative… now I expect them to ruin that.
#15 Comment By Joe On January 4, 2021 @ 4:59 pm
I used to build sawmills that I sold through Northern Tool and Equipment but stopped in 2007 when the bottom fell out. Wish I was younger so I could build them again. Would be a hot market right now. Didn’t get around to building one for my own use.
#16 Comment By TWP On January 4, 2021 @ 5:15 pm
URL missing on this link:
The new IRS tax brackets are out for 2021, so where do you stand?
#17 Comment By benjammin On January 4, 2021 @ 5:29 pm
I prefer this youtube video to the first Popeye one:
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#18 Comment By benjammin On January 4, 2021 @ 5:30 pm
Looks like it is time to head to the forest to start harvesting timbers for my own lumber projects. Lots of Alaskans with their own mills these days. Might as well get on board while I can.
#19 Comment By Craig S Majoros On January 4, 2021 @ 6:27 pm
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Neat gaget … make your own lumber…
#20 Comment By Steve in MO On January 4, 2021 @ 8:28 pm
I have a local, small shop that manages to keep more ammo and reloading supplies in stock than Bass Pro, so don’t expect much if you go in there except higher prices and less knowledgeable employees. I only go to Bass Pro if I absolutely have to, and to Cabela’s in Kansas City if we’re there to see our future daughter in law. Other than that, they don’t have anything I can’t get somewhere else, and usually cheaper.
#21 Comment By Vickie On January 5, 2021 @ 4:24 am
The best investment that any of us can make at this time is in a supply of ORAL IVERMECTIN.
Do your own research and due diligence. Do not use the topical or injectable forms.They are for cows,horses,and other critters. That’s why the sell it at farm and ranch stores.
When it comes to surviving this COVID disease it every man/woman for themselves.
We are not going to be able to pray our way out of this
#22 Comment By Avalanche Lily On January 5, 2021 @ 11:54 am
If you are a child of God and stand on HIS WORD, if it is His will to sustain you, HE WILL! If not, then always be prepared to go home to HIM! Prayer is your most powerful weapon. Please do not sow doubt into the hearts of our readers!
Go to the LORD IN PRAYER FOR ALL THINGS!
#23 Comment By Tunnel Rabbit On January 5, 2021 @ 11:52 pm
I tested this in real life. I had 6 major heart attacks in a row. These attacks were indescribably painful. It was torturous. I do not believe it could more painful. Because of this level of pain, I begged the Lord to take during each occurrence. As I failed at dying, and knew that more pain was in store, I went to the hospital. I had no insurance. Just as they rolled me into surgery, I ask the Lord to take me again. I did not want the surgery, yet I did not want the horrific pain. The Lord had all the opportunity to take me, and I was willing, yet he did not.
I believe we are required to do what is possible on this earth, and leave the impossible to the Lord. Cardiology said I should have had at a minimum of 60 percent and likely more damage to my heart, yet I had zero damage. As someone who has done extensive research into heart disease, I believe any cardiologist would agree that a zero degree of damage in my case would be impossible.
#24 Comment By Butch Niley On January 5, 2021 @ 2:25 pm
Vickie and AL,
Prayer is a wonderful thing, communing with our God through the Holy Spirit and our Savior is what all Christians should embrace. There is also free will given to us by God to use the blessings of strength, obedience and love. Without question, I know that my God can do ANYTHING. I also know that we have a responsibility of action based on his Will and Word. God could provide a table full of food for me daily with a simple thought, however, if I don’t pick up the fork and put the food in my mouth, I will die of starvation. If I don’t cut the wood for the stove, my house will be cold this winter.
I also thank God for the blessings of modern medicine and the lives that it has saved for generations. Yes, there is always risk. I could die from a bad reaction to the C-19 vaccine or any number of medications. I also know the benefits to my health from the medications I currently take. I tried numerous other ways to help my body before I agreed to take medication (organic, herbal, therapy, exercise, etc.). If a medication reaction or a car wreck going to the hardware store ends my earthly life, I am looking forward to being home with my God.
I don’t post comments very often but I thoroughly enjoy the SB articles and SB family comments. Thank you all and may God bless you richly!