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 J. PINK ASSOCIATES, Inc.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190 Ph- (914)524-7770
Elmsford, NY 10523 Fax- (914)524-7771
500 Summit Lake Dr. Suite 120 Valhalla, NY 10595 |
Weekly Market Review
for the week of - 3/07/2011 |
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| Greetings! |
Here is your weekly tip - Check your bank statement and balance your checkbook regularly. In our fast paced lives, it's all too easy to log on to our bank account and work from the balance we see on the screen. Although that balance is usually reflective of our available funds, banks too make the occasional mistake. Balancing your checkbook and taking a few minutes to review your statement can help you find mistakes, fees and other inaccuracies that could be costing you money. While we're on the subject, there's nothing wrong with calling your bank and asking if they have any programs available to lower the fees you're currently being charged. With banks getting more and more competitive, there are often ways your bank can lower your fees. It's certainly worth asking. |
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Market Commentary |
 President Obama believes $4 billion in spending cuts from the current 2011 fiscal year is the right number. Congressional Republicans think $61 billion in spending cuts is acceptable. Tea Party members are pushing for $100 billion in cost cuts, a total they claim Americans are expecting based upon their voting preferences from the November 2010 mid-term elections. Although the different sides are not in agreement, they were able to "agree to disagree" for at least another 2 weeks as they averted a shutdown of the US government last Friday (3/04/11). The new deadline (3/18/11) buys time for all the parties to plead their case in the court of public opinion (source: Congress). Americans may become weary of deadlines over the coming weeks. Once the fiscal year 2011 spending levels are decided upon, the fast approaching deadline for our $14.3 trillion debt ceiling will take center stage. The government announced last Tuesday (3/01/11) that the United States "will reach the debt limit between April 15, 2011 and May 31, 2011." Debate on increasing the debt ceiling will highlight the dilemma confronting many Americans engaged in this national debate: recognizing that our government must lower the amount of federal spending that takes place, but struggling to identify any specific area that we as citizens are willing to accept less of in the future (source: Treasury Department). The ongoing bull market for the US stock market reaches its 2-year anniversary this Wednesday (3/09/11), having now gained +95.3% since its 3/09/09 close (source: BTN Research). |
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Notable Numbers | |
1. ANOTHER YEAR? - 7 of the last 10 bull markets for the S&P 500 stock index have reached at least 3-years in length and 5 of the 10 lasted at least 5 years. The current bull market is the 11th bull for the S&P 500 since 1949 and it will reach 2-years in length as of Wednesday 3/09/11. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: BTN Research).
2. SPENDING HABITS - National defense spending in the USA in fiscal year 1989 was $304 billion. 12 years later, national defense spending in the USA in fiscal year 2001 was $305 billion. For the current 2011 fiscal year, national defense spending is projected to be $768 billion (source: Office of Management and Budget).
3. EIGHT YEARS OFF - Our projected tax receipts of $2.2 trillion in fiscal year 2011 (i.e., the 12 months ending 9/30/11) is equal to our government's actual spending of $2.2 trillion in fiscal year 2003 (source OMB).
4. HARD WORKER - The average productivity of the American worker (defined as output per hour of work) has increased +30% over the last decade (i.e., 2001-2010). Mathematically this means the quantity of work done in 2000 during a 40-hour work week could now be completed in less than 31 hours (source: Department of Labor).
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As always, if there's anything we can help you with, please feel free to call the office anytime.
I hope you have a great week.
Sincerely,
John
John W. Pink, Sr.
J. Pink Associates, Inc.,Financial Advisors |
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At J. Pink Associates, we do comprehansive financial planning and wealth management for families and small businesses by getting to know the unique details of your financial
world and thoughtfully crafting a strategy to identify and support your goals.
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This material represents as assessment of the market and economic environment as a specific point in time and is not intended to be a forecast of future events, or a guarantee of future events, or a guaranteew of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does notpurport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Part performance does not guarantee future results. The S&P 500 is an unmanaged index of 600 widely held stocks that is generally considered representative of the US stock market.
NFP Securities, Inc. does not provide legal or tax advice.
Securities and Investment Advisory Services offered through NFP Securities, INc. a Broker/Dealer, Member FINRA/SIPC and a Federally Registerd INvestment Advisor.
NFP Securities, Inc. does not offer tax or legal advice NFP Securities, Inc. is not affiliated with J. Pink Associates, Inc., Financial Advisors. |
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