When bear market crypto 2021

Share to Twitter Share to Linkedin It’s no secret that the IRS is after crypto tax dollars and after fans of crypto who don’t report or who don’t do it correctly. The Inflation Reduction Act , which passed the Senate on Sunday and the House is expected to take up Friday, raises taxes and will give the IRS billions to go into what the Wall Street Journal called “beast mode .” In all, the bill will dole out about $80 billion to the IRS for increased enforcement, operational improvements, customer service, and systems modernization. That money is more than six times the current annual IRS budget of $12.6 billion. The bill says a whopping $45.6 billion will be for enforcement, which is the main directive from Democrats to the IRS. Get bigger, tougher and faster at collecting. Reports suggest that the IRS will hire 87,000 new agents, and with more than $45 billion being shoveled into enforcement, change is coming. There isn’t a dollar amount fixed for … [Read more...] about IRS To Add 87,000 New Agents, More Crypto Tax Enforcement

Share to Twitter Share to Linkedin Upside Investing represents a revolution in investment/spending strategy. It lets you set a living standard floor that only rises as a result of investing in stocks and other risky assets. The higher your floor, the lower your upside and vice versa. The stock market is, once again, going nuts — dropping relentlessly, then bouncing back, only to plunge again, but then recovering, well, kind of, and … This is, in short, excruciating times for those counting on the market to see them through retirement. Stocks have always been a high-reward, high-risk ride. But since the Great Recession, the market seemed reliable. No longer. Today’s economic and geopolitical world is crazzzy and the stock market doesn’t like crazzzy . We now face raging inflation, round three of COVID, lingering supply-chain disruptions, on-again-off-again Chinese production, global energy and food shortages (curtesy of Vladimir the Excrement), … [Read more...] about Finally, A Safe Way To Play The Market — Upside Investing

Source: Reuters Several Chinese state-owned companies including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) announced plans on Friday to delist from the U.S. stock market. The companies, which also include Aluminium Corporation of China (Chalco) (601600.SS) and PetroChina (601857.SS), said in separate statements that they would apply for delistings of their American Depository Shares from the New York Stock Exchange (NYSE). The four will keep their listings in Hong Kong and mainland Chinese markets. "These companies have strictly complied with the rules and regulatory requirements of the U.S. capital market since their listing in the U.S. and made the delisting choice for their own business considerations," the China Securities Regulatory Commission (CSRC) said in a statement. China and the United States have been in talks to resolve a long-running audit dispute that could result in Chinese companies being kicked off American exchanges if they … [Read more...] about Four Chinese state-owned companies to delist from NYSE

Share to Twitter Share to Linkedin As the crypto winter descended, so did NFT sales. After a rush into mainstream culture and nearly two years of explosive growth that peaked in November, NFT sales failed to hit $1 billion in July for the first time since June 2021, down from more than $5 billion in January. Sales on OpenSea, the world’s largest NFT marketplace, fell 79% from May to July , and the company laid off 20% of its staff in mid-July. But the NFT downturn hasn’t stopped social media companies from launching new features this summer that seem to be built for the NFT-obsessed world of last winter’s crypto boom. Reddit, which had already been in the NFT space for more than a year, announced a marketplace for fixed-price NFTs that it billed as “collectible avatars” on July 7. Snap is testing NFTs as AR filters, the Financial Times reported in mid-July. And just last week, Meta announced that Instagram would allow users in 100 countries to … [Read more...] about Instagram Is Getting Into NFTs Months After They Crashed. Artists Are Wary But Hopeful.

- A + A (Aug 12): Wall Street's main indexes rose on Friday, setting the S&P 500 and the Nasdaq for a fourth straight week of gains on increasing evidence that inflation may have peaked. The S&P 500 is up 16.8% from its mid-June low, with the latest boost coming from a slower-than-expected rise in consumer prices and a surprise drop in producer prices in July. The benchmark index crossed a closely watched technical level of 4,231 points, indicating it has recovered 50% of its bear market loss. It was headed for fourth straight week of gains, its best performance since November 2021. "We're seeing a market that is focusing on inflation peaking and so the rally is continuing, although volume is rather light," said Peter Cardillo, chief market economist at Spartan Capital Securities. "Investors are becoming more optimistic in terms of the Fed not being as aggressive as the market previously had expected." While policymakers remain firm about a further … [Read more...] about Wall St set for weekly gains on signs of cooling inflation

- A + A NEW YORK (Aug 12): Wall Street closed higher on Friday (Aug 12) as signs that inflation may have peaked in July increased investor confidence that a bull market could be under way and spurred the S&P 500 and the Nasdaq to post their fourth straight week of gains. The S&P 500 is up 17.7% from a mid-June low, with the latest gains coming from data this week showing a slower-than-expected rise in the consumer price index and a surprise drop in producer prices last month. The S&P 500 crossed a closely watched technical level of 4,231 points, indicating the benchmark index has recouped half its losses since tumbling from the all-time peak in January. A 50% retracement for some signals a bull market. "It's really just a number, but it certainly makes investors feel better — at least those who bought near the bottom," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "I wouldn't declare victory over this bear market … [Read more...] about S&P 500, Nasdaq close up for fourth straight week as optimism grows

George Soros’s investment firm bolstered its stakes in Amazon.com Inc, Salesforce Inc and Alphabet Inc, among other large technology companies. (File pic by Reuters) - A + A (Aug 13): Soros Fund Management increased its holdings of big tech stocks ahead of their sharp rally in recent weeks, while adding more than US$200 million in shares of American Campus Communities Inc. George Soros’s investment firm bolstered its stakes in Amazon.com Inc, Salesforce Inc and Alphabet Inc, among other large technology companies. All three rank among its top 10 holdings as of the end of June, according to a regulatory filing Friday. The New York-based firm also added a new US$20 million position in Elon Musk’s Tesla Inc, though that represents only about 0.4% of Soros’s US$4.6 billion US equities portfolio, which fell US$664 million in the second quarter. Other new additions included US$168 million of Alleghany Corp stock and US$201.5 million in shares of American Campus, which … [Read more...] about Soros reloads on big tech with Amazon, Google and new Tesla bet

Share to Twitter Share to Linkedin If Los Angeles’ housing market has shown us anything this year, it’s that luxury real estate is on track for big things in 2021 . In the Flats section of Beverly Hills, a sprawling estate with a mansion and a private train park has sold for $31.4 million — one of the priciest transactions in the coveted Westside pocket in 2020, records show. The sale price, which reflects furnishings negotiated separately, is one of 20 transactions north of $20 million recorded this year in Beverly Hills. Among properties sold in the Flats, it ranks as the largest sale south of Sunset Boulevard, according to luxury real estate agent Keeley Smith of Hilton & Hyland , a founding member of Forbes Global Properties . Smith, who represented the sellers in the deal, said that the transaction reflects a shift towards quality over quantity that resulted from the coronavirus pandemic. "These luxury houses are still selling … [Read more...] about Beverly Hills Mansion With Mini Train Park Sells For $31.4 Million

Share to Twitter Share to Linkedin Topline Peloton Interactive laid off 800 employees Friday — the at-home stationary bike company’s second round of job cuts — making it the latest major U.S. company to undergo massive layoffs this summer, as CEOs fear soaring inflation could tip the economy into a recession. Timeline Aug. 12, 2022 Peloton , which gained popularity as gyms shut their doors during the pandemic, announced a sweeping round of layoffs in a memo to employees obtained by Bloomberg , six months after the New York-based company cut another 2,800 jobs. Aug. 12, 2022 Texas-based home health services company Signify Health laid off 489 employees, a cost-cutting move that comes days after health care giant CVS made a bid to purchase the company, multiple outlets reported (Signify did not respond immediately to an inquiry from Forbes ). Aug. 11, 2022 Meditation app Calm laid off 90 employees (20% of its workforce), … [Read more...] about Peloton Reportedly Lays Off 800 Employees — Here Are The Major U.S. Job Cuts As Recession Fears Grow

Share to Twitter Share to Linkedin People are concerned about money. More than half ( 54% ) of the United States workforce cite money issues as a larger cause of stress than their health and relationships. Finding unique wealth-building strategies is an excellent way to feel ahead of the game, and the strategies don’t even have to be complex! Here are some simple tips for staying on top of your money game. Invest Your Spare Change in Crypto Crypto is a word people all around the world are now familiar with. However, the use of cryptocurrency is still a mystery to many. Bitcoin BTC was the first cryptocurrency to be outlined in principle in 2008 and is by far the most popular, with $1.03 trillion invested in it, representing around 40% of all crypto investments. The project was described by its creator, operating under the pseudonym Satoshi Nakamoto , as “an electronic payment system based on cryptographic proof instead of trust.” IRS … [Read more...] about 3 Wealth-Building Strategies You Haven’t Thought Of Yet