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Business Ownership and Wealth Management

Dana Barfield

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Latest Blogs from Dana Barfield
The big 3 government backed ratings agencies (technically known as Nationally Recognized Statistical Rating Organization) – S&P, Moody’s and Fitch – all committed massive fraud, which was a prime cause of the 2008 economic crash. They took bribes for high...
It’s not all that often that hard financial news comes out in the local newspaper on Saturday.  This morning was an exception when it was announced that a local company suddenly closed it doors after 54 years of existence, productivity, and service. The story says investor...
Monday, in Dallas, is a day where everyone is a Monday morning quarterback.  I suppose it is to be expected on the Sports pages when the local team loses a game that could have sent it into the NFL playoffs.  But it is surprising to see “Monday morning quarterbacking” on ...
So how can over 873,000 people come off the unemployment line when there were only a little over 114,000 jobs created?Luckily I found a transcript of a conversation between two eminent economists discussing this very question! COSTELLO: I want to talk about the unemployment rate...
In the normal world, interest rates play a vital role in determining in what people invest.  If one can achieve a low risk, high rate of return by investing in Certificates of Deposit, then one’s investment manager should make the necessary arrangements.  If rates are...
Even on Christmas Eve, I was going through my normal morning routine this morning checking news and articles from various sources.  I came across an article entitled “How the Welfare State Stole Christmas” which is a response to another article entitled "We Could End Homelessn...
If you read any business or financial publications this time of year, you’re likely to see an article that goes something like this:  ”Buy these stocks and forget them…”  We recommend that you ignore these articles, but just in case you are tempted to read, then follow ...
Here is the back and forth between the president and speaker of the house over the fiscal cliff… Courtesy Washington Post Wonkblog 12/19/2012
In the next month a determination will be made over whether taxes on investments are rising or not.  Here are some things to consider… Increasing dividend and capital gain taxes reduce the tax disparity between annuities, other insurance based investment products, and ownin...
The table below shows the way to grow the economy even if increases in tax rates occur... All three columns assume an increase in the top two tax rates.  Implemented alone, the first column demonstrates a decline in GDP, tax revenues, and future economic ...
How much stuff has been given over the last three years? Two times more than was given in Bush’s eight years (Democratic Congress)… More than ten times the amount given during Clinton’s eight years (Republican Congress)… Here is the actual deficit since 1999: Here are t...
The following excerpt is from an article in the Wall Street Journal on November 2, 2012. “Hartford Financial Services Group Inc. has become the latest big insurer to ask its variable annuity owners to give up the guarantee of a lifetime income stream. Insurers widely ...
Increasingly many investors are finding themselves struggling to produce positive investment results.  Outside of the logistical, structural, and due diligence issues we have spoken of at length about, another even more sinister matter increasingly rears its ugly head.  I r...
I arrived home late last night, after teaching a class, hoping to watch Denver beat San Diego on Monday Night Football.  The game was recording while I was away.  I always set the channel to something other that ESPN so that I don’t accidently see the score when I turn the ...
This is a list of the proposed Republican Budget Cuts (Please notice neither Social Security nor the military are on this list. It is also important to remember that the Democratic controlled senate has not proposed a budget in any of the last four years in obvious contradiction...
David Siegel, the owner of Westgate Resorts, sent a surprising email to his 7,000 employees Monday. Subject: Message from David Siegel Date: Mon, 08 Oct 2012 13:58:05 -0400 (EDT) From: [David Siegel] To: [All employees] To All My Valued Employees, As most of you know ou...
Once upon a time the government had a vast scrap yard in the middle of the desert.  Congress said, "Someone may steal from it at night."  So they created a night watchman position and hired a person for the job. Then Congress said, "How does the watchman do his job wit...
This graphic shows the percentage of all taxes that each income group pays.  Keep in mind this is not the percentage of each person's income which goes to income taxes (Federal income tax alone: this does not include property taxes, estate taxes, etc.), this is the percentage of ...
To understand what the Federal Reserve is trying to do with each of its rounds of quantitative easing (QE), let’s look back to the “Cash for Clunkers” program. During the summer of 2009, some new car buyers were able to trade in used vehicles for ones having marginally higher gas ...
Over the last 18 months we have increasingly moved assets to cash, despite the lack of meaningful return.  One of the reasons we’ve had the confidence to do this is due to the substantial, across-the-board gains we achieved and subsequent return produced between March of 2009 an...
Here is how the three tax reform/fiscal policy plans compare: See the entire report here.  (Comparison and report courtesy of Tax Foundation)
Aug. 29 (Bloomberg Law) -- There are numerous examples of the federal government suspending or ignoring settled rules of law in order to quickly and effectively respond to particular problems created by the broader financial crisis starting in 2008. UPenn Law Professor, David Skee...
No words from me are necessary...just watch this and how it impacts your freedoms, who can access your finances, who decides your end of life...it's all there in the pages detailed and just as the video describes. You can access the full text of the law in PDF form here.
So I’m reading the news today and I discover an article about a father whose child needs additional medical care that his insurance company does not want to pay for.  Most people’s response is one of horror and anger and “this is why we should have ‘ObamaCare’”.  But some ver...
Much speculation has occurred over the recent days as the U.S. stock market has risen, on low volume (indicating a lack of confidence), as to why investors are staying in cash and not investing… In pictures, you can see what is taking place in Europe’s third largest economy Italy....
If you are part of a pension, as an employee or as a retiree, you need to carefully research and monitor your plan’s financial strength and security.  Here’s why: Many, many pensions are "underfunded".  This is a condition where current plan assets are less than what i...
By now, everyone probably knows the Social Security trust fund is essentially insolvent, holding “assets” which are U.S. Government debt.  You also know that Social Security taxes were reduced for 2012… talk about a schizophrenic approach! An Urban Institute study done by Eug...
“There have been some rumblings around the office about the future of this company, and more specifically, your job. As you know, the economy has changed for the worse and presents many challenges. However, the good news is this: The economy doesn't pose a threat to your job.What d...
I have been giving particular attention to what constitutes political correctness these days.  I watch as notorious homosexual, Jewish, Christian hater and discriminator Louis Farrakhan is welcomed in Chicago, while Dan Cathey, whose business, Chick-Fil-A, pays above average wag...
‎"Economically speaking, no solution to the problem could be simpler than the most obvious one: spend less than one takes in, and start paying down the debt. Politically speaking however, the entire Democrat party and half of the Republican one are dedicated to the idea that depende...
Within my field of expertise, I can explain most things.  I am a founding, first generation business owner, and 30 year veteran financial expert.  The fact this small business reality cannot be explained (by me or anyone else I know), is really the point...the photo "speaks"...
Who is the captive and who is the free man? The Food Stamp Program, administered by the U.S. Department of Agriculture, is actually proud of the fact it is distributing the greatest amount of free meals and food stamps ever.Meanwhile, the National Park Service, administered by the U...
When economic times get tough, people are willing to do just about anything to put food on the table, including listening to populist, class-warfare, rhetoric.  “I’ve got to put food on my table, gasoline in my tank, and keep the sun and rain off my head.” To which dish...
The folks who are getting the free stuff don't like the folks who are paying for the free stuff, because the folks who are paying for the free stuff can no longer afford to pay for both the free stuff and their own stuff.And, the folks who are paying for the...
When it comes to birthday, Christmas, or Hanukkah packages, masking the surprise can really add to the fun.  The fact you don’t know what is in them usually isn’t problematic because the giver is someone who loves and cares for you.  Not knowing creates anticipation and e...
The next time you hear a politician use the word 'billion' in a casual manner, think aboutwhether you want the 'politicians' spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a great job of putting that figure into some p...
You may have heard the excellent advice never to cosign a loan for another person.  There are reasons this is excellent advice, the primary one being an estimated 3 out of 4 cosigned loans end up being paid off by the cosigner. A cosigner is able to secure a loan (for an ot...
Recent observation suggests that 95% of professional traders don’t make it. 80% of all day traders lose money. One study found active investors turn over their portfolios excessively (258% annually) but made less on their money. Investors with low portfolio turnover had signif...