Society & Affluence
43% have less than $10k for retirement
Folks, this is where the rubber hits the road. Retirement has been canceled. You don’t have any savings, and neither does the government. Despite what the marketing machines at financial services companies tell you, retirement will not include golf, health, laughter and clean white shirts. Here’s the reality for the children of many baby-boomers: - Your parents... »
Mohamed El-Erian: How to handle the sovereign debt explosion
One thing I’ve learned about the PIMCO folks is that they understand the big picture. They are able to spot emerging economic trends to predict where the world is headed. Often, people get caught up by the individual pixels that they fail to see the complete image. You don’t need to know how many... »
21st-century African land grab
The great 21st century land grab is shaping up as a competition for Africa. The once-forgotten land is now a source of massive investment by China, Saudi Arabia and other resource-strapped countries. In particular, countries facing potential food shortages due to growing food demand are investing in African agriculture. A recent Guardian article highlights this... »
Growing to Extinction
Here are some interesting facts found within Bill McKibben’s book, Deep Economy: The Wealth of Communities and the Durable Future: - The average bite of American food has traveled 1,500 miles and changed hands 6 times before it reaches your mouth. - The average new home size has doubled since 1970. - Only 22% of the energy... »
The True Toll of Economic Hardship
Here are a couple quotes from a recent article that peers into the lives of a few victims of layoffs. Multiply this by a million and this is what America looks like today. “Three weeks after learning that his plant was closing, he suddenly collapsed at home.” “Bob Smith, 42, a forklift operator with four young... »
Charlie Rose Interviews Elizabeth Warren
“I am afraid. I’m afraid because of what I see in the real economy. I’m afraid because I don’t see books that are clean, balance sheets that have been cleaned up. I’m afraid because in October of 2008, Secretary Paulson came to the American people and he said the problem is... »
11-year-old spends $44 million on Dubai homes
Sometime early last year, an 11-year-old boy from Azerbaijan became the owner of nine waterfront mansions in Dubai. I don’t even think I could afford the front door of one of those houses. In fact, I’ve been putting off repairing an old fence in my backyard. It turns out that the boy may be the... »
Bill Gross Discusses Jobs Report
The bond king discusses the surprisingly good jobs report. »
New Jersey Gov. Christie on State Budget
New Jersey governor, Chris Christie, gave a well-received speech to about 200 mayors from across the state. Christie presents a plain view of the budget crises facing many states today. You know, at some point there has to be parity. There has to be parity between what is happening in the real world, and what... »
22 Questions for Wilbur Ross
A great first question for all the budding entrepreneurs out there: What’s the biggest business blunder you’ve ever made, and what did you learn from it? Waiting until I was older than 60 to go into business on my own. I should have done it sooner. ———————————————— Wilbur Ross Net Worth: $1.8 billion Age: 71 Source of Wealth: Leveraged Buyouts 22 Questions »