Keyword: wealth

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  • How Catholic Monks Made the West Rich

    12/11/2014 4:20:39 PM PST · by Enza Ferreri · 20 replies
    Enza Ferreri Blog ^ | Enza Ferreri
    Why is the West richer than other parts of the world? What creates wealth? The scientific journal Science Nordic reports that a new PhD thesis tries to find an answer to these questions, very topical in times of bailouts and double-dip recessions and very challenging for economists, in Medieval history. And it discovers that it was the Roman Catholic order of Cistercian Monks that left a long-lasting legacy of cultivation of the virtues which made the West prosperous. ...One of the clues the thesis follows begins in France in 1098, when a breakaway group of monks formed a new...
  • U.S. PRESIDENTS, RANKED BY WEALTH [Using 2010 dollars]

    12/10/2014 7:20:16 AM PST · by SoFloFreeper · 5 replies
    supercompressor.com ^ | 10/15/14 | ETHAN WOLFF-MANN
    îť„ expand slideshow to fullscreen U.S. Presidents, Ranked By Wealth U.S. Presidents, Ranked By Wealth jornal.us Posted on 10/15/14 By Ethan Wolff-Mann @ewolffmann Share on Facebook Pin it on Pinterest Tweet this article Share this article on Google+ 197339 America might not have a royal family, but it's sure had a pretty large correlation between wealth and power, especially in our early years. Fueled by a heavy dose of curiosity, Wikipedia, and the public domain repository of presidential portraits, below we've ranked all the presidents by net worth*.Perhaps the biggest conclusions from this list? Family money + law firms...
  • Chris Rock’s econ bombshell: What his “riots in the streets” prediction says about American Dream

    12/05/2014 8:28:49 PM PST · by 2ndDivisionVet · 40 replies
    Salon ^ | December 3, 2014 | Elias Isquith
    Comedian reveals what it means to be rich today -- and how little the average American really understands about it. I’ve already written a bit about Chris Rock’s must-read interview with Frank Rich and, as much as I enjoy the comedian’s work, I didn’t expect to be returning to it quite so soon. But although Rock’s comments on racism initially drew the most attention, a recent study from Gregory Clark, a researcher at University of California, Davis, has got me thinking that the comedian’s most insightful (and potentially radical) statement came earlier in the interview, during a brief digression about...
  • UC Davis Economics Professor: There Is No American Dream

    11/28/2014 9:28:39 AM PST · by SES1066 · 35 replies
    CBS Sacramento CA ^ | 11/26/14 | Steve Large
    DAVIS (CBS13) — A UC Davis economics professorhas determined there is no American Dream. Gregory Clark is sharing his research as a hard truth with no hope—whether or not you can get ahead in America is as predictable as any formula.
  • Another Widening Gap: The Haves vs. the Have-Mores

    11/17/2014 5:22:02 AM PST · by 2ndDivisionVet · 14 replies
    The New York Times ^ | November 15, 2014 | Robert Frank
    Philip Rushton has been selling private jets to the global rich for more than three decades. In just about every economic cycle, sales of small jets and big jets tended to move together — rising and falling with financial markets and fortunes of the wealthy. Now, however, the jet market is splitting in two. Sales of the largest, most expensive private jets — including private jumbo jets — are soaring, with higher prices and long waiting lists. Smaller, cheaper jets, however, are piling up on the nation’s private-jet tarmacs with big discounts and few buyers. “The real demand is at...
  • If You’re Not Rich, Divorce Can Be Financially Devastating

    11/15/2014 10:24:30 AM PST · by SeekAndFind · 40 replies
    New York Times ^ | 11/15/2014 | TERESA TRITCH
    There is a long list of women* who have amassed personal fortunes by divorcing rich husbands — and as far as I can tell, they deserved every penny. This week Sue Ann Hamm joined it when a court ordered her ex-husband, Harold Hamm, the Oklahoma oil man, to pay her some $1 billion in cash and assets, or about $38 million per year of a 26-year marriage. Ms. Hamm plans to appeal on the grounds that the award grossly undervalues her share of the wealth accumulated during the marriage, Reuters reported on Thursday. If Ms. Hamm gets anywhere near half...
  • Trustafarians Want to Tell You How to Live

    10/31/2014 6:51:54 AM PDT · by C19fan · 15 replies
    The Daily Beast ^ | October 31, 2014 | Joel Kotkin
    Americans have always prided themselves on being a nation of the self-made, where class and the accident of birth did not determine success. Yet increasingly we are changing into a society where lineage does matter—and likely this process has just started, threatening not only our future prosperity but the very nature of our society. In some ways the emerging age of inheritance stems from the success Americans enjoyed over the past half century. Think not only of the wealthy entrepreneurs, but the vast middle class that purchased their homes, often for what in hindsight look like very low sums, and...
  • New York Dominates 2014 List of America's Most Expensive ZIP Codes

    10/18/2014 8:42:06 PM PDT · by 2ndDivisionVet · 9 replies
    Forbes Magazine's Life Blog ^ | October 8, 2014 | Erin Carlyle
    In Atherton, Calif., 94027, the most expensive home currently on the market is a 12,840-square-foot Mediterranean mansion with a $21.988 million price tag. Not a millionaire? Good luck finding a place to live in this Silicon Valley enclave. The least expensive home for sale in the 94027 ZIP code is a 1,370-square-foot, two-bedroom, two-bath bungalow. In other words, a starter home–with an asking price of $1.499 million. The median price of the 24 homes listed for sale over the summer was $9.03 million, making Atherton the most expensive ZIP code in America for the second year in a row. “Atherton...
  • Where Do the World’s Wealthiest People Live?

    10/15/2014 7:48:07 AM PDT · by SeekAndFind · 15 replies
    Wall Street Journal ^ | 10/15/2014 | By NICK TIMIRAOS
    When it comes to producing millionaires, the U.S. still leads the pack. Between July 2013 and July 2014, the ranks of Americans with a net worth exceeding $1 million grew by 1.63 million, or more than one-third of the 3.84 million adults worldwide who saw their net worth exceed $1 million over that span, according to a new report on global wealth from Credit Suisse CSGN.VX -3.56%. Overall, the U.S. was home to around 14.2 million millionaires, or more than 40% of those in the world. After the U.S., the United Kingdom, France and Germany added more millionaires than...
  • Harry Reid’s Bodyguard Attacks Jason Mattera for Asking a Simple Question

    10/09/2014 2:07:07 PM PDT · by afraidfortherepublic · 40 replies
    PJ Tattler ^ | 10-9-14
    Crapitalism author Jason Mattera wanted to ask Sen. Harry Reid (D-NV) a simple question: How did Reid, who was born in poverty, become so rich while working for the government? So he caught up with Reid recently to ask him about it. Reid refused to answer at all. Suddenly, one of Reid’s bodyguards took it upon himself to stop the questioning. He attacked Mattera while Reid just kept silently walking on. Take a look. (Video at source) By the way, Jason has accepted Bob Beckel’s challenge to fight, after Mattera targeted IRS targeting scandal honcho Lois Lerner.
  • Obama slams the rich at the home of a guy named Rich Richman

    10/09/2014 8:05:33 AM PDT · by SeekAndFind · 36 replies
    New York Times ^ | 10/09/2014 | Richard Johnson
    President Obama blasted Republicans as the party of “billionaires” on Tuesday while mingling with high-rollers at the $26 million estate of Rich Richman — yes, that’s his real name — in Greenwich, Connectiut. Richman, who built his $10 billion company developing rental housing, lives in the Conyers Farm area, where the minimum lot size is 10 acres. Twenty-five donors paid $32,400 each to get their photo taken with the president. Others paid $10,000 for dinner. While Obama was schmoozing — and the press pool was playing billiards in the basement — he was also soliciting donations for House Democrats in...
  • America's Missing Wealth: The Real Cost of Government Will Stun You

    10/07/2014 6:44:27 AM PDT · by SeekAndFind · 5 replies
    Forbes ^ | 10/07/2014 | Rich Karlgaard
    “COMPOUND INTEREST is the eighth wonder of the world.” Did Albert Einstein say this? He should have. It’s true. Few grasp compounding’s power. Or they do, but the need for quick gratification overwhelms their good sense. On the radio someone asks Dave Ramsey, the money guru with an avid following among the heartland’s middle class, whether it’s okay to take out a payday loan for special occasions. “Like what?” asks Ramsey. “Um, tickets to the state fair,” the caller answers. Now, understand that Ramsey is a debt hawk who hates credit cards. The idiocy of taking out a usurious payday...
  • How Not to Be Poor [What the schools are NOT teaching our kids]

    09/30/2014 11:31:19 AM PDT · by SeekAndFind · 26 replies
    Pajamas Media ^ | 09/30/2014 | Helen Smith
    I read over Kathy Shaidle’s piece on the ways in which one can stay out of poverty. While a lot of the poor lifestyle decisions she points out make sense for avoiding poverty, such as finishing high school or not having numerous kids while a teenager, or even avoiding smoking, my experience as a therapist has taught me that education on how not to be poor is an important component for helping people to avoid poverty. Let me explain.Most books like Peter Thiel’s Zero to One: Notes on Startups, or How to Build the Future tell one how to get...
  • Bill Gates Tops Forbes’ Richest Americans List For 21st Straight Year

    09/29/2014 8:14:43 PM PDT · by SeekAndFind · 14 replies
    Headlines and Global News ^ | 09/29/2014 | Emily Morgan
    An American worth less than $1.55 billion could not land on this year's "The Forbes 400," the annual ranking for the richest people in America. The cut-off increase from last year's $1.3 billion disqualified 113 poor billionaires for this year's list. Bill Gates once again lorded over his fellow wealthy Americans for the 21st consecutive year with a healthy $81 billion, up $9 billion from 2013. He outpaced Warren Buffet ($67 billion), Larry Ellison ($50 billion) and the Koch brothers' Charles and David (each worth $42 billion) to round out the top five. Michael Bloomberg ($35 billion) managed to slide...
  • Alibaba Founder Jack Ma: If you’re still poor at 35, you deserve it!

    09/23/2014 7:33:32 PM PDT · by SeekAndFind · 85 replies
    Vulcan Post ^ | 09/23/2014 | Zach Ho
    You are poor because you have no ambition.Jack Ma: Before I founded Alibaba, I invited 24 friends to my house to discuss the business opportunity. After discussing for a full two hours, they were still confused — I have to say that I may not have put myself across in a clear manner manner then. The verdict: 23 out of the 24 people in the room told me to drop the idea, for a multitude of reasons, such as: ‘you do not know anything about the internet, and more prominently, you do not have the start-up capital for this’...
  • Who's rich, who's poor? Lawmakers show us their money

    09/09/2014 12:17:29 PM PDT · by EveningStar · 4 replies
    Orange County Register ^ | September 9, 2014 | Cathy Taylor
    Californians take top, near-bottom spots on list of richest members of Congress. California’s congressional representatives are among the richest and – surprise – among the poorest of Congress’ lawmakers, according to federally required financial disclosure reports.
  • Hong Kong’s miraculous progress: How did a tiny city with no natural resources grow so rich?

    09/03/2014 6:45:57 AM PDT · by SeekAndFind · 24 replies
    Washington Times ^ | 09/03/2014 | Richard Rahn
    <p>How did this small city-state of 7.3 million people go from having a per-capita income of only a few hundred dollars per year to a per capita income that is equal to that of the United States in only 50 years? The simple answer is they had the British common law legal system, strong private property rights, competent, honest judges, a non-corrupt civil service, very low tax rates, free trade and a minimal amount of economic regulation. There was no big brother government looking after the people, so they had to work hard, but they could keep the fruits of their efforts.</p>
  • The Food Gap Is Widening (Rich People Eating Better, Poor People Eating Worse)

    09/02/2014 2:08:58 PM PDT · by lbryce · 145 replies
    Atlantic ^ | September 2 ,2014 | James Hamblin
    Nutritional disparities between America’s rich and poor are growing, despite efforts to provide higher-quality food to people who most need it. So says a large study just released from the Harvard School of Public Health that examined eating habits of 29,124 Americans over the past decade. Diet quality has improved among people of high socioeconomic status but deteriorated among those at the other end of the spectrum. The gap between the two groups doubled between 2000 and 2010. That will be costly for everyone. The primary conclusion of the study is interesting, though, in that its focus is diet quality...
  • Why Britain is poorer than any US state, other than Mississippi

    08/24/2014 6:30:59 PM PDT · by SeekAndFind · 23 replies
    The Spectator ^ | 08/24/2014 | Fraser Nelson
    Now and again, American inequality is on display to the world. We saw it after Hurricane Katrina and we have seen it again in the unrest in Ferguson, Missouri. A white police offer shoots dead a black man, after having stopped him for jaywalking. Britain’s police don’t have guns, so these scenes are unthinkable. But American-style inequality? We have plenty of that too, we’re just better at hiding it – as I say in my Telegraph column today. I came across a striking fact while researching this piece: if Britain were to somehow leave the EU and join the US...
  • Is Getting Rich Worth It?

    08/06/2014 5:09:18 PM PDT · by 2ndDivisionVet · 44 replies
    The Ultralinx ^ | August 3, 2014
    In the day and age we live in the majority of people wish they could be rich in monetary terms. They want to have more money than they know what to do with. They want to have all the fanciest stuff, travel the world and not worry about any bills. Becoming rich may seem like the best thing to ever happen but it also brings in some other problems that your average Joe might not face. The question of “Is Getting Rich Worth It?” was asked on Quora and an anonymous user answered the question giving some great insight into...
  • Government Is Destroying our Standard of Living

    07/29/2014 5:31:48 AM PDT · by SeekAndFind · 18 replies
    American Thinker ^ | 07/29/2014 | Monty Pelerin
    Finally, the change in net worth has made the mainstream media. The statistics, as reported in the NY Times, are horrific, as are the implications for the future of the country. Net worth may be the best single measure of a country's well-being. Median net worth is a reasonable marker for the standard of living. Medians (or averages) are not good measures to capture what is happening at the lowest or highest ends. (More about that below.) In the simplest terms, net worth is the value of a person's assets minus his liabilities. If this measure is growing, a person...
  • Again: Hillary would like you to know that she struggled to get a mortgage after White House

    07/08/2014 9:37:52 PM PDT · by 2ndDivisionVet · 23 replies
    Hot Air ^ | July 8, 2014 | Mary Katharine Ham
    Former Secretary of State Hillary Clinton reiterated this week that she and her husband, President Bill Clinton, had trouble getting a home loan after they left their taxpayer funded digs at the White House. Speaking to Der Spiegel magazine in Germany, the former First Lady quadrupled down on her attempts to identify with average voters by explaining the financial hardships of being American political royalty. “You recently described your financial situation during the presidency of your husband Bill Clinton as dead broke,” says Der Spiegel. “Well, when we came out of the White House, we were deeply in debt because...
  • If we really want to soak the rich, we should abolish the corporate income tax

    07/08/2014 7:02:55 AM PDT · by SeekAndFind · 6 replies
    National Post ^ | 07/08/2014 | Andrew Coyne
    Why do we tax corporations? No, seriously — why? If you’re like most people and all New Democrats, your response will be “because that’s where the money is,” or some variant thereon. Corporations have lots of money, the thinking runs, and are unlikely to mind if the government helps itself to some of it. And since they don’t vote, it doesn’t much matter if they do mind. An economist, on the other hand, would point out that, one way or another, all of the income earned by a corporation finds its way back to the people who financed it, whether...
  • Investing Lesson and Voting Reality

    07/04/2014 10:07:36 AM PDT · by Kaslin · 1 replies
    Townhall.com ^ | July 4, 2014 | Charles Payne
    An Investing Lesson: Going with your Gut Individuals know so much more about "hot" stocks because the public determines winners and losers, (Sorry, President Obama). However, they have not gotten into the habit of connecting the dots. Take restaurants for instance: as much as disruptive technology and business models are associated with technology, it goes for all industries, including fast food. Recently, Consumer Reports surveyed 32,000 subscribers to rate the best-tasting food chains, divided into four categories (burgers, sandwich, chicken, and burrito). Amazingly, the biggest names in the industry came in at the bottom of their categories with McDonald's finishing...
  • Hillary Got Rich on Foreign Money, Says She is Product of “American Dream”

    07/02/2014 2:45:57 PM PDT · by SeekAndFind · 10 replies
    FrontPage Mag ^ | 07/02/2014 | Daniel Greenfield
    Hillary is a bald eagle. She’s an apple pie on a windowsill. She’s so American that she was named after both Washington and Lincoln.After all those criticisms about the formerly broke, currently “not truly well off” First Lady, Hillary Clinton got the chance to lay out her vision at the Aspen Festival of Ideas. “We have to do a better job of getting our economy growing again and producing results and renewing the American Dream so Americans feel they have a stake in the future and that the economy and political system is not stacked against them,’ Clinton said. What...
  • The Looting of Italy

    06/30/2014 12:05:45 PM PDT · by Enza Ferreri · 10 replies
    Enza Ferreri Blog ^ | 23 June 2014 | Enza Ferreri
    This is an article that was written and sent to me by Alessandra Nucci, an Italian journalist and friend. It describes what the European Union has done to Italy. Since it's a very long article, I've broken it down in 4 parts. Here is the first part. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ How would you feel if for years you had been picking up shipwrecked penniless migrants from Africa, dumped by criminal agents all over the Mediterranean, ferrying them to your shores and taking them in by the thousands, only to see yourself made the butt of sarcasm, reproaches and even pecuniary fines...
  • Here’s How Little Chelsea Clinton Cares About Money, In Dollars: Purchases Speak Louder than Words

    06/25/2014 6:52:34 AM PDT · by SeekAndFind · 33 replies
    National Review ^ | 06/25/2014 | Celina Durgin
    Chelsea Clinton doesn’t care about money as sincerely as her parents struggle to make ends meet. In the latest Clinton money quote, the career first daughter pronounced in a Fast Company interview that she has “tried really hard to care about things that were very different from my parents. I was curious if I could care about [money] on some fundamental level, and I couldn’t. That wasn’t the metric of success that I wanted in my life.” How indifferent is she to the lure of filthy lucre? Clinton is currently pulling down $600,000 per year for the kind of no-show...
  • Our Ruling Class

    06/25/2014 12:59:58 AM PDT · by 2ndDivisionVet · 8 replies
    PJ Media's Belmont Club ^ | June 24, 2014 | Richard Fernandez
    There are two sorts of stock human dramas that play out in every age of history. The first concerns people who were once rich but are now discovering they are poor. The second is their opposite; people who were once poor who suddenly realize they are rich. Years ago there were riveting accounts in a Manila newspaper about a man, whose surname was a byword for inherited wealth, pathetically resisting eviction from his ancestral home. The man — who gave his occupation as artist — sat disconsolate in the driveway of his former home, surrounded by his books, records and...
  • Bill Clinton: Why doesn’t anyone believe we were poor?

    06/24/2014 7:53:33 PM PDT · by 2ndDivisionVet · 49 replies
    Hot Air ^ | June 24, 2014 | Noah Rothman
    Secretary of State Hillary Clinton has had a rough time of it ever since she asserted that both she and her husband were “dead broke” and “struggled” after leaving the White House in 2001. “A few weeks before they left the White House, the Clintons were able to muster a cash down payment of $855,000 and secure a $1.995 million mortgage,” Politifact observed. “This hardly fits the common meaning of ‘dead broke.’” Clinton might have taken the public backlash over this minor gaffe in stride, but she didn’t. Speaking with The Guardian over the weekend, Clinton again reasserted her credentials...
  • Joe Biden: Guys, I assure you I, too, am super-poor

    06/24/2014 6:15:49 AM PDT · by SeekAndFind · 28 replies
    Hotair ^ | 06/24/2014 | Mary Katherine Ham
    Noah mentioned this in his piece about the ridiculous Democratic race to the bottom income bracket, but it deserves its own space. This kind of mess will continue to happen until reporters stop asking the question because there’s really no good answer. “Income inequality” is an evil of American society, according to the Democratic Party. In running against Republicans, especially Mitt Romney, every high-profile Democrat has made it his business to equate rich with evil. And, not just evil, but congenitally unable to understand or adjust policy to reflect the problems of real people. If that’s true for Romney,...
  • Our Decadent Elite: Rich Liberals and the Progressive Politics of Daddy’s Money

    06/23/2014 7:08:07 PM PDT · by 2ndDivisionVet · 3 replies
    The Other McCain ^ | June 23, 2014 | Robert Stacy McCain
    “Turbulent, discontented men of quality, in proportion as they are puffed up with personal pride and arrogance, generally despise their own order. One of the first symptoms they discover of a selfish and mischievous ambition, is a profligate disregard of a dignity which they partake with others. To be attached to the subdivision, to love the little platoon we belong to in society, is the first principle (the germ as it were) of public affections. It is the first link in the series by which we proceed towards a love to our country, and to mankind. The interest of...
  • I'm Not Truly Well Off Compared With Wealthiest Americans-says Hillary Clinton

    06/23/2014 6:14:52 AM PDT · by sevinufnine · 25 replies
    Daily Mail UK ^ | 06/23/2014 | Ashley Collman and Francesca Chambers
    'We came out of the White House not only dead broke, but in debt,' Clinton said. 'We had no money when we got there, and we struggled to, you know, piece together the resources for mortgages, for houses, for Chelsea's education.' 'You know, it was not easy.' Hillary was swiftly attacked as 'out of touch' after the comment.
  • How Inherited Wealth Helps the Economy

    06/22/2014 9:55:28 AM PDT · by SeekAndFind · 11 replies
    New York Times ^ | 06/21/2014 | N. GREGORY MANKIW
    Is inherited wealth making a comeback? Yes, says Thomas Piketty, author of the best seller “Capital in the Twenty-First Century.” Inherited wealth has always been with us, of course, but Mr. Piketty believes that its importance is increasing. He sees a future that combines slow economic growth with high returns to capital. He reasons that if capital owners save much of their income, their wealth will accumulate and be passed on to their heirs. He concludes that individuals’ living standards will be determined less by their skill and effort and more by bequests they receive. To be sure, one can...
  • The Definition of ‘Rich’ Changes With Income

    06/18/2014 6:17:33 AM PDT · by SeekAndFind · 15 replies
    New York Times ^ | 06/18/2014 | Lynn Vavreck
    “Congratulations, Joe! You’re rich!” John McCain said to Joe Wurzelbacher in the 2008 presidential campaign. Joe was thinking of buying a small plumbing business. He was dismayed to learn from Barack Obama that the candidate’s plan to raise marginal tax rates on individuals earning more than $200,000 a year was described as “taxing the rich.” Mr. Wurzelbacher didn’t think he was rich, which makes him a lot like the rest of us. Only 5 percent of Americans describe themselves as “rich.” While ideas about how much money it takes to be rich fluctuate depending on current income, most Americans agree...
  • Why China’s rich are leaving

    06/06/2014 7:16:08 AM PDT · by SeekAndFind · 28 replies
    FORTUNE ^ | 06/06/2014 | by Scott Cendrowski
    Pollution, tainted food and education are causing many of the country’s wealthy to flee, survey finds. Earlier this year, the best company at surveying the rich in China announced that more than 60% of the people it surveyed had already immigrated to another country, or were considering doing so. The question for the Hurun Report, which publishes an annual China rich list, was why? Was pollution driving people abroad, weariness over China’s political crackdowns, or something else entirely? It turns out the questions also nagged Rupert Hoogewerf, founder of Hurun. At the time, his best guess was that pollution and...
  • Piketty's envy problem

    06/02/2014 4:14:09 PM PDT · by Lorianne · 3 replies
    Mining.com ^ | 29 May 2014 | Peter Schiff
    There can be little doubt that Thomas Piketty's new book Capital in the 21st Century has struck a nerve globally. In fact, the Piketty phenomenon (the economic equivalent to Beatlemania) has in some ways become a bigger story than the ideas themselves. However, the book's popularity is not at all surprising when you consider that its central premise: how radical wealth redistribution will create a better society, has always had its enthusiastic champions (many of whom instigated revolts and revolutions). What is surprising, however, is that the absurd ideas contained in the book could captivate so many supposedly intelligent people....
  • Piketty – The Greatest Justification to Just Rob Anyone Who Has more Than You

    06/02/2014 4:12:32 PM PDT · by Lorianne · 6 replies
    Armstrong Economics ^ | 30 May 2014 | Martin Armstrong
    We are seeing the most dangerous trend ever. There is an agenda behind the curtain and that is to sustain government at all costs and that includes everything you own. I have warned that either government will move toward a totalitarian state or to real democracy – real Athens style without the career politicians. The latter is possible with civil unrest as we saw in Ukraine. This agenda requires no secret group of sinister corporations, Rockefellers, Rothschilds, or Bildebergs. This is plain old Adam Smith where those in government will never admit they are wrong so the reason they are...
  • NYC Announces Plan to Equalize Neighborhoods

    05/27/2014 10:17:58 AM PDT · by John Semmens · 13 replies
    Semi-News/Semi-Satire ^ | 23 May 2014 | John Semmens
    Concerned that the City is an inhomogeneous hodgepodge with pockets of great wealth in some neighborhoods and squalor in others, newly appointed Housing Preservation and Development Commissar Vicki Been announced a plan to move 80,000 to 120,000 poorer families into middle class neighborhoods. “This way instead of having blight and filth in every direction they might look poorer families will be within easy walking distance of a better kept neighborhood,” Been boasted. “The crimes that plague poorer sections of our City would be more evenly dispersed throughout the whole City. Victims will come from a more broadly representative subset of...
  • Has Mandatory Marxist Obamacare reached the failure-proof threshold of TO BIG TO FAIL?

    05/18/2014 7:40:48 AM PDT · by Graewoulf · 17 replies
    Graewoulf | May 18, 2014 | Graewoulf
    The Obamanation formula for the successful financial "Fundamental Transformation of the United States of America" can be defined, in part, as follows: Mc + Vf = Sg Where: * Mc = Marxist Communism, defined by Englishman Intellectual Karl Marx as: "FROM EACH ACCORDING TO HIS ABILITY, TO EACH ACCORDING TO HIS NEED." * Vf = Volker Failure threshold of permanent financial failure as defined by Economist Intellectual Paul Volker: "The Federally Regulated stimulation of financial debt, Private, State, or Federal, until that financial debt exceeds what can be recovered in a court-managed bankruptcy." * Sg = Single Government, which is...
  • Pope Francis' Wealth Redistribution Is Economically Fallible

    05/10/2014 10:03:40 AM PDT · by SeekAndFind · 23 replies
    IBD ^ | 05/10/2014
    Pope Francis demands wealth redistribution. He forgets St. John Paul's recognition of the "positive role of business, the market, private property" as "the model which ought to be proposed" for the Third World. Addressing U.N. Secretary General Ban Ki-moon and other officials on Friday, the first supreme pontiff from Latin America called for "the legitimate redistribution of economic benefits by the state." Excuse the irreverence, but his holiness may be forgetting the hundreds of millions of souls whose lives have been improved, lengthened, even saved by maximizing capitalism and minimizing government.
  • The Average American Can't Answer These Three Simple Finance Questions

    05/09/2014 8:48:55 AM PDT · by SeekAndFind · 86 replies
    Business Insider ^ | 05/09/2014 | Cullen Roche
    Here’s a frightening fact via The Atlantic’s Moises Naim.  Roughly half of the world can’t answer these three questions correctly: 1.  Suppose you had $100 in a savings account and the interest rate was 2 percent per year. After five years, how much do you think you would have in the account if you left the money to grow? A) more than $102; B) exactly $102; C) less than $102; D) do not know; refuse to answer.2.  Imagine that the interest rate on your savings account is 1 percent per year and inflation is 2 percent per year. After one year, would you...
  • Pope Francis demands 'legitimate redistribution' of wealth

    05/09/2014 7:15:15 AM PDT · by SeekAndFind · 306 replies
    Philadelphia Inquirer ^ | 05/09/2014 | NICOLE WINFIELD
    VATICAN CITY (AP) - Pope Francis called Friday for governments to redistribute wealth to the poor in a new spirit of generosity to help curb the "economy of exclusion" that is taking hold today. Francis made the appeal during a speech to U.N. Secretary-General Ban Ki-moon and the heads of major U.N. agencies who met in Rome this week. Latin America's first pope has frequently lashed out at the injustices of capitalism and the global economic system that excludes so much of humanity, though his predecessors have voiced similar concerns. On Friday, Francis called for the United Nations to promote...
  • Here's How Much Money Someone Has To Make To Be In The 1%

    05/04/2014 5:26:44 PM PDT · by SeekAndFind · 19 replies
    Business Insider ^ | 05/04/2014 | KRISSY CLARK, MARKETPLACE.ORG
    The "1 percent" and the "99 percent" have become household phrases in the last few years. But in the course of moving discussions of income distribution percentiles beyond economic text books and in to the popular discourse of sound bites and protest signs, the nuances can get lost. Which brings us to some interesting new research about the 1 percent, discussed in a recent book called “Chasing the American Dream.” Back when the Occupy Wall Street movement was fond of chanting “We are the 99 percent” the book’s co-author, Mark Rank, got curious about some of the assumptions buried in...
  • Krugman in the 1 Percent: Getting rich by studying about inequality

    04/30/2014 7:25:54 AM PDT · by SeekAndFind · 5 replies
    National Review ^ | 04/30/2014 | Michael Tanner
    I am outraged. The City University of New York recently announced that it is going to pay Paul Krugman $225,000 for part-time work studying income inequality. If you add in his sundry speaking fees, Professor Krugman is solidly ensconced among the hated 1 percent. I too write about inequality, yet I am not being paid nearly as much. Of course, Professor Krugman does have that Nobel Prize thing going for him, but that hardly seems to justify such blatant inequality. So I have been waiting patiently for Professor Krugman to mail me a check to correct this unfair situation. Or...
  • Thomas Piketty Wants Income Equality -- And the Hell With Growth

    04/29/2014 4:48:00 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | April 29, 2014 | Michael Barone
    French economist Thomas Piketty's book "Capitalism in the Twenty-First Century" has been inspiring a lot of comment and controversy. The English translation published last month zipped to No. 1 on amazon.com. It has given a lift to economists on the Left who have cheered on Barack Obama's flagging attempts to make income inequality a voting issue. They have hailed it as "truly superb" and "extraordinarily important." Others, not all on the Right, have taken a jaundiced view. "All wrong" was the verdict of one. "The main argument is based on two (false) claims," concluded another. Piketty's title echoes Karl Marx's...
  • Piketty’s new gilded age which isn’t

    04/27/2014 11:36:10 AM PDT · by 2ndDivisionVet · 6 replies
    Hot Air ^ | April 27, 2014 | Jazz Shaw
    Progressive hearts are all aflutter this week, riding high on the continued coverage of Thomas Piketty and his new book “Capital in the Twenty-First Century” which continues to fly off the virtual shelves at Amazon. To say that Piketty’s basic premise is flawed is probably too much of a compliment. Ed already looked at one of the fundamental assertions last week – that median household income had only risen 3.2% over the past three decades – and found it to be off by a factor of ten. But there are other, deeper problems with the Piketty model. One of them...
  • Harry Reid's Long, Steady Accretion of Power & Wealth

    04/24/2014 10:03:34 AM PDT · by Nachum · 17 replies
    Real Clear Politics ^ | 4/24/14 | Adam O'Neal
    The first of two parts Last month, as the Senate was busy negotiating the final details of its Ukraine aid package, Majority Leader Harry Reid became temporarily distracted with a campaign finance issue. Since winning re-election in 2010, Reid’s campaign had purchased gifts for supporters and donors from vendors like Bed Bath & Beyond, Amazon, Nordstrom, and the Senate gift shop, among others. But one round of spending was directed to a less recognizable firm: Ryan Elisabeth, a jewelry line. In 2012 and 2013, the campaign spent $31,267 purchasing gifts from the company, which is owned by Reid’s granddaughter, Ryan...
  • Obama Is Eating At The Legendary 'Jiro Dreams Of Sushi' Restaurant

    04/23/2014 9:40:56 AM PDT · by SoFloFreeper · 31 replies
    Business Insider ^ | 4/23/14 | BRETT LOGIURATO
    [Obama] and Japanese Prime Minister Shinzo Abe dined at a legendary sushi restaurant... Chef Jiro Ono, 87, is considered to be one of the top sushi chefs in the world. Ono prepares the sushi himself. His recommended special course — which features a rare, endangered species of bluefin tuna — starts at about $300. It includes more than a dozen courses served in about 20 minutes.
  • In Richest US Community, 31 Percent Work for Government

    04/23/2014 8:09:04 AM PDT · by SeekAndFind · 30 replies
    Townhall ^ | 04/23/2014 | Terry Jeffrey
    Those who live in this nation's richest county and those who live its poorest have an important thing in common: a disproportionate dependence on government. In the United States as a whole, according to Census Bureau estimates for the five-year period from 2008 through 2012, 14.9 percent of the people who had civilian jobs worked for government. Another 78.7 worked for private employers and 6.3 percent worked for themselves in their own unincorporated businesses. In America's richest county, this pattern did not hold. Nor did it in the poorest. At the end of last year, the Census Bureau released two...
  • Canada scraps millionaire visa scheme, ‘dumps 46,000 Chinese applications’

    04/13/2014 4:02:56 PM PDT · by 2ndDivisionVet · 36 replies
    The South China Morning Post ^ | February 26, 2014 | Ian Young and Keith Zhai
    Tens of thousands of Chinese millionaires face an uncertain future after Canada's government moved to scrap its controversial investor visa scheme, which has allowed waves of rich Hongkongers and mainland Chinese to immigrate since 1986. The surprise announcement was made in Finance Minister Jim Flaherty's budget, delivered to parliament in Ottawa on Tuesday. An estimated 45,500 mainland Chinese in the queue for visas in Hong Kong will have their applications "eliminated" and their fees returned. The announcement came less than a week after the South China Morning Post revealed how the scheme was overwhelmed by an influx of applications from...