1.

“The reason behind the bank crisis in one sentence: The Fed has NEVER once tested banks for higher interest rates in 14 years of stress tests. Correct, something that I repeatedly criticized the “stress” tests about for years. The Fed also never tested for stagflation, which is an economic condition they just assumed was impossible.” — Peter Schiff

2.

Your annuity transfers need to be started months in advance. Every insurer offers sub-par service and support. All insurers state it’s all about the high level of new business. But unlike past business spikes, this time is different. There has been no improvement across the board. Bottom Line: Get paperwork completed early and stay on top of all the outstanding requirements. NestEgg Builders will assist you to the best of our abilities…

3.

A few months ago, I had one daughter running in the Ivy League and graduating this month. But now after a few good meets and covid extending careers, I will proudly have two daughters running for two ACC schools this winter. One daughter will run for Virginia and the other will compete against her at Virginia Tech. Two very different girls that I hope will continue to stay disciplined and work hard. My apologies for the self shout-out but it’s kind of shocking how things fell into place…

4.

DO NOT trust any numbers coming out of the government. The latest jobs numbers are no exception. The U.S. economy did not add 253K jobs in April. There is an adjustment the Bureau of Labor Statistics uses when needed. It’s called the Birth-Death adjustment and it added 375k jobs to the April total. So without the adjustment, the real jobs numbers lost 125K jobs. Remember: We have a contracting job market. And zombie companies will continue to implode…

5.

We may have inflationary pressures for core items, but the Fed will need to lower rates before the banking system breaks. The pivot will come in months. Rates could plummet. Try to lock in current annuity rates. NestEgg Builders will do our best to service your business…