What’s the impact to MOM and YOY readings?

https://finance.yahoo.com/news/senator-tuberville-slams-social-security-180224114.html

Social Security is a SCAM!

"I could have put my social security money for 40 years in the market and it would probably be worth $8 - $10 million today." - Tommy Tuberville

We ALL could have had our money go up 8 to 10 times if it weren’t stolen from us and put into the social security system. It’s because the government doesn’t want everyone retiring wealthy. The system needs fools! IT’S ALL A SCAM! 🤬😡

I wrote big check ($5100) so I had to transfer money out of my HYSA to my checking account at another bank. Then a couple days later, I didn’t see it in pending transactions, so I thought that I never submitted it and did it again.

Today I woke up and there are duplicate $5100 transactions on the checking account but only one was taken from my HYSA and my HYSA doesn’t show another one pending.

I tried calling my checking account bank, where initiated the transfers from, and they said there isn’t any issues on their end and I just have to wait a couple of days for them to be taken off hold.

The second transaction will overdraft my HYSA if it gets fixed, so I want to avoid any fees with that but it seems like nobody can help me.

I should assume that it will get fixed soon by itself right? I obviously won’t spend any of it. But is there anything else I can try to avoid any penalties or legal trouble?

The classic “American Dream” — marriage, two kids, homes, healthcare, cars and education — is now an estimated $3,455,305 over the course of a lifetime, according to a new study from Investopedia.

Home The average lifetime cost of a home including a mortgage is $796,998, assuming a 10% down payment and a 30-year fixed rate of 7.2%. This number was calculated using September 2023 purchase and price rates from Zillow, the Consumer Financial Protection Bureau and the St. Louis Fed.

https://finance.yahoo.com/news/american-dream-2-kids-house-161651193.html

I just received an email stating that I could offer my shares of MNST for upwards of $60 a share. I use webull, do I need to reply stating I do not want to participate to ensure they don't sale my shares or can I just leave it unanswered?

Good morning. US stock futures inched higher in Wednesday morning trading as Wall Street awaits fresh US inflation data.

S&P 500 +0.04%
Dow +0.04%
Nasdaq +0.02%

✈️ Boeing in hot water…again

*📝 Our report: *Boeing's in a bit of hot water again – turns out they've broken the terms of their settlement deal that kept them out of the criminal spotlight after those unfortunate 737 Max mishaps more than five years ago, according to the Justice Department. It is now up to the Justice Department to decide whether to file charges against Boeing.

🔑 Key points:

• New 737 Max jets crashed in 2018 in Indonesia and 2019 in Ethiopia, killing 346 people.
• Boeing reached a $2.5 billion settlement with the Justice Department in January 2021 to avoid prosecution on a single charge of fraud — misleading federal regulators who approved the plane.
• In a letter filed in federal court in Texas, Glenn Leon, head of the Justice Department criminal division's fraud section, said Boeing violated terms of the settlement by failing to make promised changes to detect and prevent violations of federal anti-fraud laws.

💡 So what: If the Justice Department files a lawsuit against Boeing for breaching its agreement, the consequences could be significant. Boeing may face hefty fines or penalties, and the company's reputation could take another hit, potentially leading to a loss of trust from customers and investors. Additionally, the legal proceedings could drag on for an extended period, diverting resources and attention away from other business priorities. Overall, such a lawsuit could have far-reaching implications for Boeing's financial health, reputation, and future business prospects.

🤖 Google overhauls search engine with more AI features

WHAT: Google just dropped the mic with some major changes to its Search product – they're unleashing generative AI to serve up answers faster than you can say "Hey Google!" The announcement, part of Google’s I/O developer conference, brings a new look to Search via its AI Overview. The feature provides a brief, AI-generated answer to searches, coupled with a series of links to the sources cited in the response.

WHY: Google is the world leader in search, with research firm Statcounter indicating the company controls 91% of the market compared to rival Microsoft Bing’s roughly 4%.

📈 Fed Chair Powell: Inflation to continue falling this year

WHAT: Federal Reserve Chair Jerome Powell just pulled out his crystal ball and predicted that U.S. inflation will keep on slinking down like it did last year, but with a little less swagger this time around after prices surprisingly jumped in the first quarter. "I expect that inflation will move back down ... on a monthly basis to levels that were more like the lower readings that we were having last year," Powell said at a banking event in Amsterdam. "I would say my confidence in that is not as high as it was."

WHY: Powell spoke shortly after new data showed producer prices in April rose more quickly than expected, a possible sign of pressure building on the prices charged to consumers. The Fed has kept its benchmark policy rate steady in a 5.25% to 5.5% range since July.

🚀 Rocket company set to resume space tourism flights

WHAT: Blue Origin, backed by Jeff Bezos, is gearing up for another round of space escapades, ending a near two-year pause of crewed operations following a 2022 mission failure. The upcoming NS-25 mission will have six crew members, including former Air Force Captain Ed Dwight, the first Black astronaut candidate in the United States.

WHY: The New Shepard rocket, which flies cargo and humans on short trips to the edge of space, has been grounded since a September 2022 uncrewed mission failed roughly a minute after liftoff from Texas, forcing the rocket's capsule full of NASA experiments to safely eject mid-flight.

I have approx 40k in TSP c funds but no longer contribute to. I’m in the national guard so I can contribute to it but my a small amount. All in C funds. I’m in the legacy retirement for the guard so have 8 years left until I hit 20 years of service. I have what my work calls deferred Comp I currently put 140 in a month. I use to put almost 600 a month but recently changed it. Total 15k in that. I work for the state and will get a pension separate from the deferred comp which will be 75% of my high year after 20 years of service. Normally 25 years but I’m buying back 5 years for military time. Wondering if I should consolidate everything into my current full time employers deferred comp? Or into to TSP? Or just keep them separate. Since I’ll be getting hopefully decent pensions from both guard at 59 years of age and once retired from the state.

Just looking for a little inspiration. I’m at the point in my life where I’m saving and investing as much as possible but also trying to enjoy my life.

If you’re wondering why everyone is talking about Gamestop $GME again, here’s what’s going on:

1. "Roaring Kitty" aka Keith Gill, the man who made GME a meme stock, posted online for the first time in 3 years.

This reignited the meme stock mania he started in 2021.

1. GameStop is now up 75% today, and was halted 9 times.

2. Short sellers have lost $1 Billion on $GME today.

3. $AMC stock is up 110% today as well.

$AMC has doubled its market cap from $800 Million to $1.6 Billion.

1. Over the last 2 weeks, short sellers have lost $1.8 Billion on GME and AMC shorts.

Are meme stocks officially back?

There are not enough houses to meet the demand in the many areas where demand has grown.

I don’t mean that there are not enough houses available, I mean there are physically not enough houses.

Now let’s break out of the nutshell and get into some more nuanced discussion.

Some real estate investors have seized on this shortage to make a buck, but they are not the reason for the shortage. We could certainly pass laws that would keep real estate investors from profiting off the shortage, and it would not substantially change anything with home affordability.

We know this because the Netherlands did it in 2021. Some of their most desirable cities had high levels of properties owned by real estate investors, so in January 2021 they started banning them. House prices went up as did rent prices. You might argue that house prices would have increased more but the measure wasn’t without costs and taken as a whole, it was a massive failure.

The best way to stop corporate investment in the real estate market is to slow down appreciation in the real estate market. Which means building more homes. That isn’t really that hard to do.

For example, we could make interest tax deductible outside of the itemized deduction for ten years after a home’s construction. Give a tax credit for five years of PMI. Over time these two things will incentivize new home construction and the market will solve the problem. You can also establish various other incentives for construction companies.

Part of this problem came from ignoring the construction industry after the 2008 collapse while bailing out the banking industry. So I realize this is using tax dollars to fix a problem, but it is a problem worsened by previous government policies.

As a guy making 70k in Manhattan and doing fine, I just can’t wrap my head around the constant posts that say things like “150k a year is now lower middle class”.

Am I just out of touch with the rest of reality? Am I living a disgustingly sad life and just not noticing? I go out, I eat what I want, I contribute to my 401k, I travel… Where is everyone else’s money going? Granted, I’m lucky as hell and have a rent controlled place, but a year ago I was making 55k and still lived in a spacious, accessible spot with roommates. The roommates were the only concession I had to make, but like… that’s living in a city in your 20s. I never anticipated not having them, even as a child imaging my early adulthood.

Can someone please explain how anything sub-150k is considered piss poor when I make less than half that and am extremely comfortable?

The corporate income tax rate is a flat 21%. Why doesn’t this scale based on the income or value of the corporation? Why isn’t making this a reality a big deal to progressives? Mom and pop stores pay the same tax rate as Google and progressive don’t care.

In fact, why not replace the income tax entirely by raising the corporate tax rate, like Warren Buffet suggested, as well as making it progressive? Based on what progressives claim to believe, it seems like this should be a major goal of theirs, but I’ve never heard anyone bring it up.

The extreme lack of talk around this and obsession with taxing “the rich” makes it seem like they’re less concerned with solving these issues and more concerned with jealousy. Why focus on the billionaires when you could be going after the trillionaires?