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Archives for October 2016

You’ll be Astonished by the Epic Number of Billionaires in China!

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The BBC reports that China has surpassed the number of billionaires in America. The Middle Kingdom recorded a list of 594 of the ultra-wealthy citizens, to America's 535. BBC writes: The annual list is compiled by Shanghai publishers Hurun and often compared to the Forbes list in the US. The Hurun Report's rich list is one of the most closely-watched and accurate assessments of wealth in China. The annual report has been published for the past 18 years. Earlier this year, the publisher released a separate, global list, showing that the number of billionaires in China outnumbered those … [Read more...]

Natural is Gas Fueling the Regional Pipeline Networks

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The whole developing story unfolds at energy factor.exxonmobil.com To understand why natural gas is poised to become an even more predominant fuel in the 21st century, one has to also understand how the world is getting richer. This is especially true across large parts of Asia and China where, in a relatively short time, millions of people joined the ranks of the middle class. This economic expansion is igniting unprecedented consumption of energy as people tap some of their disposable income to purchase automobiles, refrigerators, or televisions, all of which require energy to operate. … [Read more...]

Amazon to Build Small Bricks-and-Mortar Stores

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The Wall Street Journal lays out Amazon's big plans to become a central hub for shoppers. Amazon.com Inc. is pushing deeper into the grocery business with plans to introduce convenience stores as well as curbside pickup locations, say people familiar with the matter. The Seattle company aims to build small brick-and-mortar stores that would sell produce, milk, meats and other perishable items that customers can take home, these people say. Primarily using their mobile phones or, possibly, touch screens around the store, customers could also order peanut butter, cereal and other goods with … [Read more...]

This is why Lobster Prices are at an 11-year High

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The Financial Times reports here that Lobster prices are at an 11-year high, up 50% from their level only three years ago. What is to blame for high lobster prices? Here the FT points to the rise in burger and lobster chains globally as the culprit. The demand for the crustacean comes as the success of burger and lobster restaurants has spurred popularity of the lobster roll which, along with the pork bun, has become a hipster favourite. In London, Burger & Lobster, which was launched in 2011, has been a pioneer in the genre and has expanded to other cities around the world. Its … [Read more...]

Is Your Governor Making the Grade? Part II

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My friend Chris Edwards has done an exhaustive analysis of the trends in state spending, and the performance of the governors of each state. Apart from his ranking of the governors, what struck me in his report "FISCAL POLICY REPORT CARD ON AMERICA’S GOVERNORS 2016," was the frightening trend of increased spending in state budgets. Edwards writes: Figure 1 shows state general fund spending since 2000, based on data from the National Association of State Budget Officers.2 Spending soared between 2002 and 2008, and then it fell during the recession as states trimmed their budgets.3 Spending has … [Read more...]

Worthy Reads: The Pound Is Tumbling for the Fourth Straight Day

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Federal Appeals Court Finds Structure of CFPB Unconstitutional (WSJ) The Pound Is Tumbling for the Fourth Straight Day (Bloomberg) IEA Sees Oil Market Rebalancing Faster If OPEC Respects Deal (Bloomberg) This ‘bone-chilling’ indicator suggests that a bear market is way overdue (MarketWatch) Emerging Markets Well Prepared for Fed Rate Increase (IMF) … [Read more...]

Are you sure College is the best path to a Good Paying Job?

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If you are like most parents, you have aspirations of sending your kids to college. A college degree is seen by many as the best path to personal prosperity. A lot of families borrow heavily to put their kids through college. Outstanding student loan debt is now well over $1 trillion--double the amount outstanding eight years ago. The politicians want to make college more affordable for families. Some even want to make it free. That sounds generous, but as an astute observer of markets might ask, if you make college free, don't you increase the supply of graduates and thereby drive down … [Read more...]

Is Your Governor Making the Grade, Part I?

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My friend Chris Edwards, director of tax policy studies at Cato Institute, examines the fiscal performance of the nation's governors. With the growing revenues of recent years, most states have balanced their short-term budgets without major problems, but many states face large challenges ahead. Medicaid costs are rising, and federal aid for this huge health program will likely be reduced in coming years. At the same time, many states have high levels of unfunded liabilities in their pension and retiree health plans. Those factors will create pressure for states to raise taxes. Yet global … [Read more...]

Amazing New Communities with 200 Square Foot Apartments

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The Wall Street Journal explains David Hall’s communities of the future. David Hall lives in a 3,500-square-foot, redbrick home in a quiet suburb of Provo, Utah. In five years, he and his wife, Karen, plan to move into a space of 200 square feet. “Big houses are lonely,” says Mr. Hall, 69. The Halls are going to a unit in a 24-room Provo hotel that Mr. Hall is developing. Mr. Hall says he has spent about $100 million—and eventually plans to spend $250 million, or roughly his entire net worth—on planned communities. Each community will house around 20,000 people in 200-square-foot … [Read more...]