Venus has been shining brightly in the evening sky for quite some time now. Moon is coming along to join the show for a few nights. They are going to be very close (about 1 degree from some places in USA) on Friday night. As expected, clouds are in the forecast. So, I went out tonight and captured some photos.
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Moon and Venus will be very close on Friday evening. Don’t miss this spectacular site. More details here.
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Filed Federal and State income tax forms electronically on Feb 24 at 11:53 pm. Assuming that they get accepted, I should get a refund deposited in my bank account in about a week or so. Usually, I don’t like to get a refund and I manage my taxes year-round to make sure I am not witholding more than needed. There is no sense in giving the government an interest-free loan. Thanks to last year’s stock market crash, I captured some losses ($3000 more than capital gains are allowed) and that resulted in this refund. Looking at the current market conditions, I think I’ll have an opportunity to do the same again this year.
Update: Tax forms were accepted by Federal and State authorities in record time, just over 9 hours. Excellent!
Gains or losses in options trading and taxes: I made a couple of options trades during 2008 and didn’t find them on the 1099 from sent by my brokerage. When I called them about it, I learned that options are not stocks or mutual funds and brokerages don’t report those transactions to IRS. It is upto individuals to report gains and losses in those options transactions. Another loophole for people to cheat on taxes but, it would certainly be uncovered if the tax forms get audited.
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Woke up earlier than usual this morning to check out Comet Lulin. It is not a very bright comet. Looks like a fuzzball through binoculars. I couldn’t make out any tails (regular and anti). I guess a long exposure photo is needed to see those.
Took out the telescope to peek at Saturn and M81/M82 in Ursa Major before the chill made me come back in. I’ll try looking at the comet again tonight if weather permits.
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Watched two (actually, one and half) Hindi movies in the last few weeks.
A big chunk of movies that we have watched lately, I don’t seem to enjoy. It is not like we watch every movie that comes out. We only try out critically acclaimed and/or very popular movies. Can’t seem to agree with the critics or public on many of these movie choices. Oh well… I think I am turning into a sour old fart.
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Ever since last year, there has been one bailout after another. First it was TARP for banks, then auto industry, then stimulus package, more for auto industry and now mortgage bailout for irresponsible homeowners. It is starting to piss me off. Not only that I am not getting any benefits from these bailouts but, I am paying for them all.
I didn’t get the Bush $600 check last year and won’t get the Obama $1200 check this year, either. I didn’t buy a house that was beyond my means and didn’t borrow too much money against it and unfortunately I have been making my mortgage payments every month. Nobody cares about stupid responsible me.
It seems like the government is only trying to reward bad behavior through these bailouts. People who bought too expensive houses without considering if they could meet the future mortgage obligations, banks that made bad loans to these individuals and financial industry that created bad investments with these bad loans and made a huge mess of it all, are all getting rescued out of their missteps with just a slap on the wrist.
They argue that foreclosures must be stopped because it doesn’t only affect the people who lose their house but, it reduces the value of houses in the neighborhood. Fine by me. I am planning to live in this house and I am not in it for flipping and cashing in profit. If the market value of my house goes down why should it bother me? People who got into houses that they couldn’t afford must pay a price for their stupidity. Bailing them out of a foreclosure is just going to encourage them to make the same mistake again in the future.
The banks that financed the whole housing bubble through predatory lending practices must be allowed fail. Sinking billions of dollars in the banking industry hasn’t helped. They still want more and they don’t even know how much more. Nationalizing these banks and wiping out all the shareholder equity is the best option and the government should do that without trying to sugarcoat it.
Auto companies that fail to keep up with change in marketplace and make bad deals with the unions must be allowed to get into bankruptcy and come out as better structured companies just like the airline industry. Pumping money into them is not going to change anything.
While everyone else is getting bailed out what about disciplined savers who lived within their means and saved money for the future? 30-40% of their savings have been evaporated in the last year or so. Shouldn’t they get a bailout? I think they should. If the government is rewarding citizen and corporations for showing bad behavior, they should not completely ignore the model citizen who didn’t stray from their straight path.
Update: Thanks for reminding me, Siddhi! Yes, I am also paying for that freaky, unemployed, living on food stamps and disability, baby popper in California. She deserves a separate post but, I get so angry about so many different things when I think about her that I can’t find words to write that post.
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Over the last week, I dabbled into two new kinds of investments that I had never traded before.
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John D. and Catherine T. MacArthur Foundation supports National Public Radio. In recognition of their support, NPR reads this 10 second blurb that I really like:
John D. and Catherine T. MacArthur Foundation is committed to building a more just, verdant and peaceful world.
I just love that word, verdant and should use it more often.
ver⋅dant [vur-dnt] –adjective
1. green with vegetation; covered with growing plants or grass: a verdant oasis.
2. of the color green: a verdant lawn.1575–85; verd(ure) + -ant
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