asterisk2a + wealth   45

(1823) How a new aristocracy's segregation puts stress on society - YouTube
see book Dream Hoarders
the bottom 90% lost money. the 9% kept pace, the 1% escaped
inequality feeds on itself. the larger it gets the more hardened it gets.
also - like marries like! concentrates wealth further
gated communities - Dream Hoarders
america got a postcode lottery as well
Individual actions add up
natural progression from gated to gated and armed communities.
&! - Where you grow up matters in an unequal economy. Here’s how.
USA  inequality  class  book  1%  Professionals  Education  Millionaires  Dream  Hoarders  Erben  mobility  inherited  wealth  inheritance  aristocracy  American  social  status  postcode  lottery  America  Sociology  Bias  Gesellschaft  Psychology  prejudice  bigotry 
january 2019 by asterisk2a
How Trump Could Cause the Economic Meltdown - YouTube
Trump not addressing working poor, tech unemployment all unemployment and poor pay, growth of service sector jobs not caused by globalisation only. [...] Skidelsky promised leisure time is not in sight!!! bc tech put in place for profitmaximisation. more productivity, but worker retrained using robot paid same as before. not better. // Institutionalize Redistribution via Co-Ops (ie profit sharing, not CEO pay excess, no Wall Street shareholder dividends, but workers dividends (13th monthly payment), // Repeal ACA/Obamacare, is tax cut for 200k (250k as couple) households (10-1%)! canceling their progressive taxes on healthcare, to subsidize the poor and those without. what Obamacare enabled, insuring millions of uninsured, bc could not afford it. // Capitalism does not provide security to working class. bc taken over by neolib, crony, two rules, corruption, 1% fouvourism // do not reform, institutionalise from bottom and top redistribution ie co-op, progressive taxation (w investment tax free brackets), no tax evasion/avoidance harsher sentences, universal basic income w edu reform (Richard David Precht), ...
DonaldTrump  Donald  Trump  Co-Op  wealth  redistribution  Precariat  working  poor  Service  Sector  USA  income  growth  wage  CEO  pay  WallStreet  shareholder  stakeholder  GFC  squeezed  middle  class  poverty  trap  Consumer  Debt  household  debtoverhang  discretionary  spending  disposable  AI  Robotics  Skidelsky  technological  Productivity  leisure  time  part-time  Obamacare  ACA  neoliberal  neoliberalism  crony  Capitalism  Exploitation 
january 2017 by asterisk2a
Saudi Arabia Threatens To Liquidate Its Treasury Holdings If Congress Probes Its Role In Sept 11 Attacks
[...] But the threat is another sign of the escalating tensions between Saudi Arabia and the United States. [...] "Obama has been lobbying so intently against the bill that some lawmakers and families of Sept. 11 victims are infuriated. In their view, the Obama administration has consistently sided with the kingdom and has thwarted their efforts to learn what they believe to be the truth about the role some Saudi officials played in the terrorist plot." //&!
9/11  Saudi  Arabia  gwbush  georgewbush  bush  China  Japan  USA  reserve  currency  USD  Dollar  petrodollar  Middle  East  Taliban  al-Qaeda  al-Qaida  osamabinladen  OPEC  sovereign  wealth  fund  geopolitics  diplomacy  barackobama  foreign  affairs  Intelligence  foreign  relations  War  on  Terror  Pakistan  India  Hegemony  arms  trade  UK 
april 2016 by asterisk2a
Fred Block: The Tenacity of the Free Market Ideology - YouTube
Fred Block discusses his book “The Power of Market Fundamentalism,” which extends the work of the great political economist Karl Polanyi to explain why free market dogma recovered from disrepute after the Great Depression and World War II to become the dominant economic ideology of our time. // wo state role there would be no market system. // need social democracy in complex diverse society - representing people // freedom in complex diverse society = free of hunger and economic uncertain & freedom of nonconformity - protections, no marginalisation, no economic punishment // social democracy and free market are both Utopias // Thatcher & Co blaming State for malaise! nobody likes technocratic arguments, leaves public out, thus was able to make big return. // wealth creation through efficiency route takes more work and capital than predation (rentier/rent seeking) - ie relaxing fuel efficiency savings regulation for Detroit back in the days // trust that state can support innovation
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january 2016 by asterisk2a
BBC News on the North South Divide with Tom Hunt - YouTube
multiplier effect of service sector job = 1 or lower. meaning need to access tax credits. //&! Northern Powerhouse dept to close Sheffield office and move 247 jobs to London. - Government business department shuts largest non-London office George Osborne’s ‘northern powerhouse’ policy questioned as branch closure in Sheffield casts doubt on chancellor’s pledge to revitalise English cities - // also northern councils have to cut deeper than souther because of lower tax base!
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january 2016 by asterisk2a
James Galbraith, Kate Pickett, Branko Milanovic - Consequences of Inequality and Wealth Distribution - YouTube
free education / land value tax / higher inheritance tax / abolition of private education / more progressive taxation / combat tax avoidance and tax evasion / ... Universal Basic Income //&! New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals - - w Joseph Stiglitz and Paul Krugman --- distinguishing between wealth and capital. ignore land (free yourself from Ricardo). land. credit. //&! David Cay Johnston: The Perils Of Our Growing Inequality - David Cay Johnston about his new book, Divided: The Perils of Our Growing Inequality. -
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january 2016 by asterisk2a
Insatiability, and the 15-hour week - YouTube
// book wealth of nations //&! Prof Lord Robert Skidelsky - How Much is Enough? The Economics of the Good Life - //&! Guaranteed Employment & Basic Income - //&! Why the precariat requires a basic income (Prof. Guy Standing) (ENG) - //&! The Precariat: The new dangerous class - Sydney Ideas -
book  Robert  Skidelsky  income  distribution  GDP  nominal  GDP  targeting  macroeconomic  policy  happiness  index  microeconomic  policy  4-day  work  week  6-hour  work  day  economic  history  well  being  public  health  policy  public  health  leisure  time  work  life  balance  burnout  western  society  western  world  secular  stagnation  life  hacker  life  lesson  inequality  Gini  coefficient  wealth  distribution  tax  evasion  tax  avoidance  social  democracy  No  Representation  democracy  welfare  state  social  safety  net  minimum  wage  Universal  Basic  Thomas  Piketty  precarious  work  Precariat  working  poor  poverty  in  old  age  poverty  UK  USA  Europe  transferring-wealth  wealth-distribution  trickle-down  economics  neoliberalism  neoliberal  Super  Rich  1%  plutocracy  oligarchy  Greed  zombie  consumer  consumerism  consumerist  status  anxiety  Selbstdarstellung  Selbstfürsorge  sociology  philosophy  Aristotle  low  income  tax  free  income  income  redistribution  income  inequality 
january 2016 by asterisk2a
Cameron: Labour doesn’t believe in home ownership – video | Society | The Guardian
home ownership is the only wealth item in privates balance sheet. but as we know from history, dont base ur wealth on one asset. particular houses. houses/flats are there to be lived in. & maybe move out & into a new one, moving city for new or better job. property should not be prioritised as singular wealth storage // USA promoted home ownership // Tories policy is helping people save, and buy, keeping the house prices going up an up and up. // &! Complete Privatisation of housing market; Ministers want to get rid of social housing, former civil service chief to say. Lord Kerslake to say housing bill will force councils to sell off more than 100,000 homes to subsidise right-to-buy discounts - - The former head of the civil service will accuse government ministers this week of trying to phase out social housing altogether in favour of a new generation of “starter” homes that will be unaffordable for people on low incomes. //&! Privatisation a disaster
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january 2016 by asterisk2a
Wealthy areas 'getting cash aimed at poorer communities' - BBC News
[ when councils can not raise $ because there is no money $ then there needs to be redistribution. thus devolution praised to regenerate areas like the north, is a con trick. positioning. for votes. normal people don't read and think farther than headlines. ] Most of the money aimed at regenerating Scotland's most disadvantaged communities is going to wealthier areas, a report has said. The independent regeneration network, Surf, said current policies were increasing rather than reducing inequality. [...] The report said there was evidence that, following the financial crash of 2008, there was a trend of public and private sector capital being invested in Scotland's affluent areas and commercial centres with poorer areas missing out. It said that was damaging town centres and "secondary locations" such as Falkirk and Paisley. [...] fairer, wealthier and more successful place for everyone."
Devolution  Council  tax  UK  wealth  distribution  income  redistribution  deprivation  Public  Policy  London  corporate  tax  rate  neoliberalism  neoliberal  SNP  Tories  Northern  Powerhouse  Manchester  Conservative  Party  nasty  PR  spin  doctor  Positioning  election  campaign  promises  populism  tax  evasion  tax  avoidance  income  distribution  wealth-distribution  general  election  2015  Public  Services  Social  Services  austerity  post  code  lottery  education  NHS  community  structural  unemployment 
january 2016 by asterisk2a
Under-40s worse off as result of state pension changes, data shows | Money | The Guardian
[ how do you save up when you can afford housing (nor even a mortgage, have credit cards (drinks and presents), and student loan. all the while tories help to prop-up the property bubble, the only wealth uk households actually have! ] Most people now in their teens, 20s and 30s will be worse off as a result of changes to the state pension system, while millions of older people will gain, according to the government’s own figures. The data will fuel concern that millions of younger people are suffering from the effects of what has been dubbed “intergenerational unfairness”, partly caused by the government targeting money and resources at the older generation. DWP issued the data to back up its assertion that the introduction of the new flat-rate state pension in April “will make millions of people better off” – but the figures also provide stark confirmation that younger people will be losers from the changes.
DWP  George  Osborne  Iain  Duncan  Smith  pension  scheme  pension  obligation  public  pension  pension  fund  constituency  babyboomers  Generationengerechtigkeit  fairness  bank  bailout  GFC  neoliberalism  neoliberal  PR  general  election  2015  general  election  2010  election  campaign  promises  budget  deficit  corporate  welfare  tax  evasion  tax  avoidance  Positioning  spin  doctor  manufactured  consent  generation  rent  Housing  Crisis  student  loan  debt  debt  servitude  student  loan  Bubble  student  debt  credit  card  debt  household  debt  retirement  consumer  debt  car  loan  generational  contract  lost  generation  Millennials  zombie  consumer  materialism  status  anxiety  Celebrity  of  You  Tories  Conservative  Party  nasty  demographic  ageing  population  OAP  UK  western  world  secular  stagnation  property  mortgage  market  Help  to  Buy  Right  to  Buy  Buy-to-Let  wealth  distribution  plutocracy  Gini  coefficient  inequality  squeezed  middle  class  working  poor  low  income  tax  credit  precarious  work  Precariat  wage  stagnation  minimum  wage  wage  growth  income  growth  social  mobility  income  mobility  globalisation  globalization  flat  world  borderless  Policy  Makers  Westminster  Toff  Privileged  Establishment 
january 2016 by asterisk2a
Joseph Stiglitz: It’s Time to Get Radical on Inequality - YouTube
Nobel laureate Stiglitz, author of The Price of Inequality and The Great Divide, studies the forces driving inequality and what is at stake if it continues. In his view, bad economic thinking deserves part of the blame — fanciful ideas like trickle-down and the notion that economists should try to increase the size of the economic pie and let the politicians worry about distribution. On the contrary, Stiglitz sees distribution as a problem economists must confront. He warns that an economic system that doesn’t raise standards of living for most Americans is a failure. [...] monopoly rent = too big to fail/tbtf (bailout) == cost to society/economic damage == where was antitrust!? monopolies are less productive & costly eventually in the long-term. rent exploitation through lobby! [...] this is bad for everyone, rising inequality, lower inequality is an econ multiplier // &! The Great Divide with Joseph Stiglitz and Robert Reich - &! NEET
inequality  income  inequality  gender  inequality  Gini  coefficient  social  mobility  downward  mobility  income  mobility  working  tax  credit  child  tax  credit  tax  code  capital  gains  fairness  income  distribution  capital  gains  tax  earned  income  tax  tax  avoidance  tax  evasion  corporate  tax  rate  tax  free  income  tax  credit  welfare  state  Public  Services  Services  austerity  trickle-down  economics  economic  model  economic  history  book  Privileged  progressive  kalte  Progression  coldprogression  wealth  distribution  academia  academics  neoliberal  neoliberalism  liberal  economic  reform  precarious  work  working  poor  poverty  trap  child  poverty  well  being  education  policy  vocational  education  skills  gap  paternity  leave  maternity  leave  gender-based  discrimination  gender  equality  Women  in  Tech  STEM  added  value  value  creation  shared  economic  interest  economic  damage  microeconomic  policy  economic  growth  disposable  income  discretionary  spending  Thomas  Piketty  Joseph  Stiglitz  josephstiglitz  Gesellschaft  social  tension  social  cohesion  society  uncertainty  insecurity  Career  Politicians  savings  rate  job  creation  labour  market  labour  economics  Lohnzurückhaltung  Niedriglohn  Niedriglohnsektor  Service  Sector  Jobs  minimum  wage  living  wage  Contractor  Zero  Hour  Contract  Leiharbeit  Zeitarbeit  exploitation  Wall  Street  profit  maximisation  shareholder  value  crony  interest  interest  capitalis 
july 2015 by asterisk2a
If People Understood This One Thing, We Would Have Revolution Overnight - YouTube
Martin Luther King, Jr. was working towards a guaranteed basic income for all when he was killed. Wealth inequality, neoliberalism, the actions of the Federal Reserve, along with the greed and theft of the global elite have made the call for a guaranteed basic income for all even more urgent in 2014 than in the 1960s. [...] In his new book, The Economics of Revolution, DeGraw writes: “Having that much wealth consolidated within a mere 1% of the population, while a record number of people toil in poverty and debt, is a crime against humanity. For example, it would only cost 0.5% of the 1%’s wealth to eliminate poverty nationwide. Also consider that at least 40% of the 1%’s accounted for wealth is sitting idle. That’s an astonishing $13 trillion in wealth hoarded away, unused.” In this clip from the full 30-minute interview, DeGraw points out that the Federal Reserve is already printing money and giving it away to the financial elite.
Universal  Basic  Income  book  MLK  QE  bailout  TARP  USA  tax  code  tax  free  economic  history  Middle  Class  fairness  Super  Rich  1%  recovery  labour  market  labour  economics  happiness  index  incentive  work  life  balance  productivity  output  gap  participation  rate  GFC  POMO  wealth  distribution  poverty  policy  folly  policy  error  short-term  thinking  short-term  view  post-racial  America  Gini  coefficient  social  mobility  mobility  Future  of  neoliberal  neoliberalism  No  Representation  lobbyist  lobby  Lobbying  revolving  door  trickle-down  economics  crony  capitalism  toobigtofail  TBTF  too  big  to  jail  Justice  System  prison–industrial  complex  Bail  American  Dream  meritocracy  meritocratic  UK  equity  bubble  Wall  Street  consumer  confidence  business  confidence  corporate  state  shared  economic  interest  stakeholder  profit  maximisation  shareholder  value  Supply  and  Demand  Demand  and  Supply 
june 2015 by asterisk2a
Macroeconomics Causes of Inequality - YouTube
"consumption drives much of the economy" // free up disposable income >> free child care, health care, limit exploitation of financial illiterate people (% interest on pay day loans, overdraft charges, dispo), public services, social services, pension contribution by state (preventing poverty at old age), tax credits for low income and children and carers, free education and vocational education/continual education - enabling to move up the ladder, // min11 - secular stagnation post GFC compared to previous recessions in terms of real household demand (balance sheet recession, debt overhang, deleveraging (debt repayment), and lack of new issuance of consumer credit I guess, too + rising income equality! lower redistribution from top to bottom (fair taxation) reduces recycling of income (freed up by policy items above) into demand. // min 18 - top 5% society (luxury, vanity, status) takes over bottom 80% society in aggregate terms of consumption. Economy driven by WHOM?! Affluent!
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may 2015 by asterisk2a
Would you rather be a real millionaire or a paper billionaire? The psychology of unicorns and the toll on Q1 returns | PandoDaily
And yet total cash going to venture backed companies was a whopping $17.7 billion– up over the $12.6 billion raised in the same period last year. But here’s the thing: Only $11.3 billion of that came from venture firms, throwing into question whether we should even still keep using the adjective “venture-backed” to describe the category. The disparity shows just how much more money is coming from non-VCs like hedge funds, private equity, mutual funds, and sovereign wealth funds, who have watched the private valuation growth of Facebook and the rest of the deca-corns and are desperately trying to get a stake in private companies before they IPO. [...] Things have gotten strange for VCs — and in turn, entrepreneurs — and the climate doesn’t seem to be improving
Private  Equity  Hedge  Fund  Mutual  Fund  growth  round  Venture  Capital  Silicon  Valley  Unicorn  hunt  for  yield  Sovereign  Wealth  Fund  distortion  ZIRP  NIRP  QE  bubble  bond  bubble  debt  bubble  zombie  corporations  zombie  banks  Super  Cycle  savings  glut  liquidity  trap  productive  investment  speculative  bubbles  Wall  Street  incomplete  information  market  confirmation  bias  pattern  matching  pattern  recognition  selection  bias  bias  behavioral  finance 
april 2015 by asterisk2a
Nick Hanauer: Beware, fellow plutocrats, the pitchforks are coming - YouTube
- history has it that the thriving middle class made USA. period. // --- and the future of work - needs investment! as capitalism, a flat world and software eats the world - eats up jobs (robots, automation, off shoring, outsourcing, outside advisory and contractors only (for everything that is not key) etc). >> thus education has got to change to be for the 21st century || + Eric Liu: Why ordinary people need to understand power --- #civic #PowerPlay #AbuseofPower #illiteracyaboutpower #willfulignorance >> #participation #calltoaction #sharewhatyoudo +!+!+ +!+!+
Super  Rich  1%  tax  evasion  tax  avoidance  tax  code  fairness  plutocracy  Career  Politicians  Gini  coefficient  inequality  income  inequality  working  poor  squeezed  middle  class  USA  economic  history  social  mobility  income  mobility  trickle-down  economics  wealth  distribution  income  redistribution  income  distribution  disposable  income  skill-biased  technological  change  education  policy  Public  infrastructure  investment  investment  personal  investment  Future  of  Work  Mobile  Creative  Mobile  Creatives  practical  skills  practical  skill  set  human  capital  capital  skills  workless  underemployed  flat  world  competitive  advantage  competitiveness  competitive  comparative  advantage  quality  of  life  standard  of  living  life  balance  globalisation  globalization  Utopioa  Indignados  Indignants  occupywallstreet  GFC  Wall  Street  crony  capitalism  corporatism  bribery  corruption  Lobbying  lobbyist  lobby  No  Representation  society  well  being  civic  life  civic  society  personal  values  Power  Play  abuse  of  Democratic  Process  democracy  willful  ignorance  citizen  ethical  machine  long-term  thinking  long-term  view  western  society  civil  society  Zivilgesellschaft  Politics  Political  Governance  participation  participation  rate  voter  turnout  oligarchy 
august 2014 by asterisk2a
The problem with opulence: the more you pay for... - Nassim Nicholas Taleb
The problem with opulence: the more you pay for a service (meal, hotel, airplane ticket), the more dissatisfied you will be with the smallest imperfection, the slightest error. Compare constipated old Park Avenue couples riding first class, for whom traveling is some kind of exercise in bitterness, to partying passengers in the back of the plane for whom any beer is "good enough". It is as if life wanted to get even with them. Which leads to the paradox that the only way to properly enjoy wealth is to avoid spending it.
Super  Rich  status  symbol  status  anxiety  Consumerism  zombie  consumer  consumerist  consumer  materialism  opulence  happiness  index  life  lesson  life  hacker  lifelessons  lifelesson  western  lifestyle  lifehacks  lifehacker  sociology  psychology  wealth 
august 2014 by asterisk2a
Paxman interviews economist Thomas Piketty - Newsnight - YouTube
IT IS ALL A MATTER OF DEGREE. thus you have to marry liberalism & conservatism, throw the junk out. u get liberal-conservatism. The rise of the working poor & squeezed middle class had not been good 4 economic growth & vitality. || +Thomas Piketty on Wealth, Income and Inequality >> watch?v=zytqTSh3oGw || + || + << Edward Conard WRONG! || +++ What the 1% Don't Want You to Know with Paul Krugman - watch?v=QzQYA9Qjsi0 "All men are created equal" NO MORE. 'commanding heights' >> + market income inequality vs disposable income inequality ... "We live in such an ugliness in America." || Wealth Concentration is a agglomeration of Politica & Public Policy Power. || + Robert Reich >> v=q-rpkZe2OEo || v=heOVJM2JZxI
Thomas  Piketty  economic  history  inequality  income  inequality  income  mobility  social  mobility  Gini  coefficient  gender  inequality  gender  equality  equality  book  extremism  extrem  economics  ethics  moral  beliefs  trickle-down  economics  corporate  governance  governance  democracy  Politics  Career  Politicians  lobby  Lobbying  lobbyist  Political  System  accountability  transparency  income  redistribution  wealth-distribution  transferring-wealth  wealth  distribution  GDP  Super  Rich  property  rights  crony  capitalism  capitalism  working  poor  squeezed  middle  class  middle  class  josephstiglitz  Joseph  Stiglitz  paulkrugman  Paul  Krugman  Robert  Reich  disposable  income  wealth  redistribution  transfering  wealth  social  safety  net  Grundeinkommen  tax  credit  tax  free  income  Unconditional  Basic  UBE  progressive  kalte  Progression  coldprogression  history  trustagent  distrust  trust  confidence  Mobile  Creatives  Mobile  Creative  skill-biased  technological  change  skill  skills  capital  skills  knowledge  worker  White-collar  Blue-collar  taxevasion  taxavoidance  net  wealth  offshore  banking  extreme  concentration  of  wealth  happiness  happiness  index  G  Zero  G20  global  registery  of  financial  assets  corruption  job  creation  on  job  training  job  market  Patrimonialism  patrimonial  capitalism  eureka  wealth  working  inher 
may 2014 by asterisk2a
INEQUALITY FOR ALL - Upward Mobility on Vimeo
This is a clip from the Robert Reich film "Inequality for All." You can see or order the whole film here. It's also available to watch instantly on Amazon, or you can get the DVD from Netflix. It is truly worth your time to see the whole movie — I promise! Fact-checks by Robert Reich's very capable crew. + - Twitter user GroteMond has rightly pointed out that socialism isn't technically equal distribution of wealth. However, in the case of this video, the video creator is referring to the majority of Americans' perception of what socialism is, not what it actually is. So yes, there's yet another thing we are generally misinformed about. + USA Healthcare +
social  mobility  Robert  Reich  income  inequality  USA  economic  history  Higher  Education  formal  UK  Gini  coefficient  babyboomers  Millennials  economics  Career  Politicians  Politics  accountability  middle  class  squeezed  middle  class  Debt  Super  Cycle  prosperity  documentary  public  policy  policy  error  policy  folly  courage  Toff  Perception  reality  wealth  distribution  occupywallstreet  Super  Rich  taxation  taxevasion  corruption  healthcare 
february 2014 by asterisk2a
Reichenforscher : "Die Millionen machen was mit Götzes Gehirn" - Nachrichten Sport - Fußball - DIE WELT
Auch Robben ist aus seiner Leidenschaft heraus, eventuell auch noch aus verletztem Ehrgefühl, über sich hinausgewachsen im Finale der Champions League gegen Dortmund. Keiner wächst über sich hinaus, wenn es nur um eine Prämie geht. Das mag zehn Minuten reichen, mehr aber auch nicht. [...] Aber haben sie noch die Szene vom Finale in der Champions League vor Augen, als Hoeneß den Pokal nehmen sollte, sich aber minutenlang ziert? Da war eine große Scham zu sehen. Dann nimmt er ihn und hält ihn die ganze Zeit vor sein Gesicht. Das war für mich nicht die Inkarnation eines Abzockers. [...] Die guten Dinge des Lebens bestimmen die Selbstwahrnehmung, die schlechten werden oftmals verdrängt. Dass viel Geld hier größere Verführungen bedeutet, ist wohl eine Tatsache. [...] Die Angst, dieses Vermögen zu verlieren, spielt auch eine große Rolle. Wie dem auch immer sei. Wenn die Hochvermögenden nicht vergessen, dass sie organische Bestandteile ihrer Gesellschaften sind, können sie Verantwortung wa...
society  millionaire  rich  sociology  motivation  Soccer  wealth-distribution  intrinsic  motivation  wealth  management  Olympics  Bundesliga  Gini-coefficient  Fußball  Uli  Hoeness  superrich  psychology  money  wealth  Sport 
june 2013 by asterisk2a
Marc Faber: "Something Will Break Very Badly" | Zero Hedge
Q: Is it a good time to buy gold? Faber: Nobody knows whether it’s a good time to buy gold or not…as I have repeatedly said in my reports, I buy gold every month and on the recent decline I bought more at $1,400 and I have an order at $1,300 and one at $1,200 and one at $1,100 an ounce. But they were not filled, just the $1,400.   I will never sell my gold, as I repeatedly told people. .... My maximum allocation to gold at present time is 25 per cent of assets.” [...] "In the 40 years I’ve been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality... Asset markets are in the sky and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up... Something will break very bad."
QE  ZIRP  NIRP  2013  greatdepression  GFC  bubbles  asset  allocation  Gold  unintended  consequences  greatrecession  wealth  management 
may 2013 by asterisk2a
The Next Domino: Australia Doubles Tax On Retirement Savings | Zero Hedge
How much do you trust your government? >> Portugal, Ireland, Hungary & Co. raiding savings of ordinary people. raiding long-term funds for short-term holes. Promises are there to be broken. Laws to be rewritten. >> BOJ putting a tax in form of currency debasement (forced inflation / debt monetization) on its savers and pensioners. >> the problem with current form of democracy is - the short-term thinking that went on for 70 years.
currency  debasement  Politics  Europe  transferring-wealth  pension  scheme  IRA  BOJ  political  folly  Cyprus  Australia  democracy  greatrecession  lostdecade  policy  folly  JGB  middleclass  2013  lostgeneration  short-term  thinking  trust  pension  fund  working  poor  confidence  wealth  management  Error  401k  bail-in  trustagent  austerity  middle  class  USA  PIIGS  greatdepression  pension 
april 2013 by asterisk2a
Krise in Zypern: Das flüchtige Geld der Sparer - SPIEGEL ONLINE
Das System basiert auf dem Glauben an den Wert des Geldes Ein schmerzhafter Weckruf, der zeigt: Formal gesehen sind die Bankkunden, die ihr Geld auf einem Giro- oder Sparkonto horten, Gläubiger ihrer Bank. Wenn ein Finanzinstitut pleitegeht, ist somit mindestens ein Teil des Geldes weg - es sei denn, ein privates oder staatliches Sicherungssystem steht dafür ein. Das Vertrauen, dass diese Systeme im Zweifelsfall auch halten werden, hat in der vergangenen Woche einen Knacks bekommen.
fiatmoney  communication  fiat  currency  trust  Europe  confidence  unintended  consequences  Laiki  Bank  zombie  banks  sovereign  debt  crisis  wealth  management  bail-in  trustagent  Troika  fiat  money  banking  crisis  deleveraging  Cyprus  Bank  of  Cyprus  crisis  balance  sheet  recession 
march 2013 by asterisk2a
HOW TO MAXIMIZE PRIDE -- Modern thought and social science are grounded in the objective of maximizing "happiness", "utility", "utility of wealth", "pleasure", "experiences instead of possessions" or similar matters that are both selfish and over which you have little control. They turned out to be both mathematically and morally clumsy. Switch your objective to maximize "pride" and see how different --and more controllable -- things become.
Sportsmanship  lifehacker  happieness  moral  anti-doping  society  ethics  lifehacks  western  lifestyle  social  science  lifelesson  consumer  doping  Pride  work  life  balance  non-profit  psychology  lifestyle  wealth  life  lesson  consumerist  morality  culture 
february 2013 by asterisk2a
James Bianco: The US Economy Has Not Created New Wealth - YouTube
Real world Economics.

James Bianco, President of Bianco Research, L.L.C., argues that the US economy isn't creating a wealth effect. In fact, there has been no wealth creation during following the economic collapse of 2008. According to Bianco, if the market stays the same, the rich will get richer, and the poor poorer.
bank  crisis  banking  crisis  toobigtofail  lobby  Lobbying  WallStreet  policy-makers  policy  folly  policy  error  greatrecession  GFC  monetary  policy  fiscal  policy  academics  academia  economic  cycle  economic-thought  economic  model  economic  history  economy  economics  wealth  creation 
october 2012 by asterisk2a
Overfishing has hurt the Gulf's economy, report says - Houston Chronicle
The study by Ecotrust, a Portland, Ore.-based conservation group, found that Gulf states, including Texas, lost $13 million annually between 2005 and 2009 because of fewer recreational fishing trips targeting severely depleted red snapper.

The amount represents money that was not spent on boat rentals, charter fees, tackle and bait and other direct expenses.

The group estimated the losses increased to $33 million a year when spending on restaurants, hotels and other related businesses is included.

The Gulf region also lost millions each year because of overfishing of gag, gray triggerfish and greater amberjack, the study found.

The Pew Environment Group, which paid for the study, said the findings make the economic case for extending federal law that requires science-based annual catch limits to rebuild fisheries stocks.
globalwarming  climatechange  wealth  management  wealth  economics  pollution  environment  gulfofmexico  overfishing 
september 2012 by asterisk2a
Money can't make you happy... if you are only spending it to impress others | Mail Online
Spending money on once in a lifetime experiences from luxury holidays to concert tickets won't make you happy, according to a surprise study.
But before you cancel that world cruise it's worth noting that you'll only fail to find contentment if your motive is to impress others.
'Why you buy is just as important as what you buy,' said assistant profressor Ryan Howell, from San Francisco State University, who led the study.
'When people buy life experiences to impress others, it wipes out the well-being they receive from the purchase. That extrinsic motivation appears to undermine how the experiential purchase meets their key psychological needs.'
lifestyle  lifehacker  lifelessons  relationships  psychology  money  relationship  consumption  wealth  management  wealth 
june 2012 by asterisk2a
Exclusive Warren Buffett – A Few Lessons for Investors and Managers
THE REALLY GREAT BUSINESS: High returns, a sustainable competitive advantage and obstacles that make it tough for new companies to enter

A great business has pricing power or the power to raise prices without losing business to a competitor

The best protection against inflation is a great business

THE GOOD BUSINESS: Earn good returns on tangible
invested capital

High capital intensity requires high profit margins to achieve a
decent return

THE GRUESOME: Require-a-lot-of-capital-at-a-low-return-business

An important truth

In a business selling a commodity-type product, it’s impossible to be a lot smarter than your dumbest competitor.



And this includes technology—a few will make money but many will lose and it’s hard to see who does what in advance

And growth has its limits—no trees grow to the sky
wealth  management  investment  management  warrenbuffet 
june 2012 by asterisk2a
Eurokrise - Hhere Steuern fr Reiche? - YouTube
Nach der Finanzkrise stehen die Staaten vor einem riesigen Schuldenberg. Der zwingt zu immer neuen Sparprogrammen. Jetzt erklären sich Superreiche bereit, zu helfen.
rich  poor  taxation  taxes  germany  USA  France  warrenbuffet  inequality  progressive  politics  generationy  generation  DIW  austerity  budget  wealth  wealth-distribution  society  culture  history  barackobama 
august 2011 by asterisk2a
Another Deal Older and Deeper in Debt Currency Thoughts
 Politicians failed to segregate what needs to be done in the long term from what ought to be  addressed in the short term and, as a result, got both tasks wrong.

Below are ten consequences I expect from the Federal government’s latest handiwork. Obama will probably be a one-term president.
The increasingly skewed distribution of U.S. wealth and income will become even more so.  Because of the diminishing marginal utility of money, this trend dampens the potential growth rate of aggregate personal consumption.
presidency  barackobama  debtceiling  debate  2011  sovereign  debt  crisis  politics  democrats  republicans  policy  folly  wealth  income  inequality  poor  rich  wealth-distribution  USA  economy  greatrecession  recovery 
august 2011 by asterisk2a
Golden Era of Rock Star Traders Concludes - Bloomberg
Four years later he turned management of the company over to his sons Robert and Jonathan. On July 26, after months of debate, the three men decided to return the less than $1 billion of outsiders’ money Quantum still oversees and convert the firm into a family office to manage almost $25 billion for George, his family, and foundations.There’s a two-word explanation for closing what was once one of the world’s biggest hedge funds and consistently one of the best-performing --- with returns of about 30 percent annually in its first 30 years: Dodd-Frank. The law requires hedge funds to register with the Securities and Exchange Commission and provide information about customers, employees and assets. By returning outsiders’ money, Soros Fund Management escapes that rule and the loss of privacy that goes with it.
georgesoros  Dodd-Frank  reform  regulation  2011  hedgefunds  history  financial  SEC  wealth  stanleydruckenmiller  carlicahn  life  lesson 
july 2011 by asterisk2a
The Rich Are About To Get Very, Very Rich: Study Finds Global Millionaire Wealth Set To More Than Double By 2020 | zero hedge
Our forecasts suggest that total wealth among millionaire households will increase from $92 trillion in 2011 to $202 trillion by 2020, a growth of 119%. In emerging markets, the growth over the next decade is potentially quite impressive (260%), significantly outpacing the growth (107%) in developed markets.

Global ranking by total number of millionaire households(2011–2020)
rich  poor  divergence  wealth  wealth-distribution  Millionaire  study  research 
may 2011 by asterisk2a
Mnner-Psychologie: Mit Luxus-Shoppingzumschnellen Sex - SPIEGEL ONLINE - Nachrichten - Wissenschaft
Was dem Pfau seine Federpracht, ist dem Mann sein Porsche - so das Fazit einer Studie von US-Psychologen. Das Auto kann dabei durch alle möglichen Luxusgüter ersetzt werden - denn Männer gehen gern teuer einkaufen, um Frauen zu beeindrucken.

University of Texas in San Antonio Studenten beiderlei Geschlechts zu einer Reihe von Tests ein. Sie sollten Geld für bestimmte Dinge ausgeben - allerdings abhängig von unterschiedlichen Szenarien, mit denen ihre Gedanken auf kurz- oder langfristige romantische Beziehungen mit attraktiven Partnern gelenkt wurden. Außerdem maßen die Forscher das grundsätzliche Interesse der Studenten an beiden Beziehungstypen mit einem Fragebogen.

Designerkleidung, exklusives Parfum oder Luxusuhren waren besonders für die männlichen Studenten interessant, die nach flüchtigen erotischen Begegnungen suchten.
psychology  dating  relationship  sexualität  women  men  sexuality  wealth  sex-sells  attention  atraction 
april 2011 by asterisk2a
BBC NEWS | World | Europe | Rich Germans demand higher taxes
"The path out of the crisis must be paved with massive investment in ecology, education and social justice," they say in the petition.

Those who had "made a fortune through inheritance, hard work, hard-working, successful entrepreneurship, or investment" should contribute by paying more to alleviate the crisis.

The man behind the petition, Dieter Lehmkuhl, told Berlin's Tagesspiegel that there were 2.2 million people in Germany with a fortune of more than 500,000 euros.

If they all paid the tax for two years, Germany could raise 100bn euros to fund ecological programmes, education and social projects, said the retired doctor and heir to a brewery.

Signatory Peter Vollmer told AFP news agency he was supporting the proposal because he had inherited "a lot of money I do not need".

He said the tax would be "a viable and socially acceptable way out of the flagrant budget crisis".
germany  tax  government  wealth  economy  taxes  taxevasion  rich  recession 
october 2009 by asterisk2a

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