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My friend Richard got destroyed by the system. As a financial advisor in Sacramento, California, he spent years building a thriving firm and has even landed a few celebrity clients. Richard did well for himself. Successful. Married. Wonderful kids. Financially secure. But back in 2008 things started to turn sour.
There are two words that kept coming up over and over again over the last 20+ months during the US Presidential circus: “fair share”. Hardly a day went by without hearing that certain taxpayers “need to pay more of their fair share.” It sounds really great, and given the voter
In light of the insanity that has transpired over the last several weeks, today I thought I would show you a beautiful, forgotten corner of the world. This is a video that my friend Shawn took of his home in New Zealand. He lives in a very small town, and
OK, this is pretty nuts. According to data released by the Treasury Department yesterday, the US national debt has soared by a whopping $294 billion since the start of the 2017 fiscal year, just 45 days ago. That’s an annualized increase of 13%. So if they keep up this pace,
Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia. Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the
When I was in Texas over the weekend taking a quick break from a whirlwind trip around the world, I went to one of the biggest shopping malls in Dallas to buy a birthday present for the CFO of our agriculture business. The mall is called the Galleria, and it’s
Bleary-eyed from the 16+ hour flight from Asia, I checked my phone last night once the plane landed to find that riots have broken out across the Land of the Free. It was enough to wake me from my jet lag. All the televisions in the airport terminal were showing
Several months ago, the voters of the United Kingdom chose to walk away from the European Union. They called it “Brexit”. And it rocked the world. The entire establishment– banks, businesses, media, politicians, celebrities– had been pushing the British people to remain in the European Union. And all the so-called
One of the most consistent aspects of travel is that, no matter where I go, the Clinton News Network (CNN) follows me around like the albatross in Rhyme of the Ancient Mariner. I walk into an airport lounge, there it is. I hit a hotel lobby, there it is. I
What do you think have been the best performing assets over the past several years? Perhaps it’s Facebook stock, whose price is up 3.2x since it debuted in 2012. Or maybe Apple, whose stock has soared 4x since 2010. But neither of those companies’ stock performances holds a candle to
There are problems, and there are solutions. Problems first. 1. Banks. That a bank as big as RBS could crash spectacularly, twice, says something about the immutability of human nature. This is not to single out the Scots. Citibank, one of North America’s largest banking organisations, has also gone bankrupt
There’s a long-standing joke in international finance that goes “Brazil is the country with the most potential… and always will be.” The idea is that a Brazil, with all of its immense resources and capacity, will never come close to realizing its potential because of how screwed up everything is.
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