An economist says the current system is extremely wasteful and there is a “subsidy addiction”.
The carmaker has at least 500,000 orders for its first widely affordable electric car, a goal CEO Musk set 11 years ago. It’s now under pressure to grow production exponentially over the next six months.
Content originally published at iBankCoin.com
Let’s be clear about the firing of Reince Priebus. This was the most humiliating and excoriating firing in the history of America. Not only was he chewed out in a Bronx style chorus of expletives by newcomer Scaramucci, but, according to Howard Finerman’s inside sources, he was fired through the President’s twitter account.
Howard Finerman: Trump fired Priebus through Twitter. pic.twitter.com/MrTMxTyf1h
— The_Real_Fly (@The_Real_Fly) July 29, 2017
There’s no way Trump would do this, unless of course he knew Reince betrayed him. Even Howard Finerman admits that. Here’s the entire take.
Reince, of course, denies being the leaker and wishes everyone in the White House well and to receive bountiful amounts of God’s blessings.
If you’re wondering the type of man who will be replacing Reince, look no further than this video, where Gen. Kelly says leakers are guilty of treason.
He’s a marine corps General and will restore discipline to the White House, one way or another.
WASHINGTON/MOSCOW (Reuters) – U.S. President Donald Trump will sign legislation that imposes sanctions on Russia, the White House said on Friday, after Moscow ordered the United States to cut hundreds of diplomatic staff and said it would seize two U.S. diplomatic properties in retaliation for the bill.
It’s never too late in the season to kick that workout into high gear and get your bikini body ready! From the hottest new workout trends to innovative beauty treatments, I’ve rounded up 7 ways to make sure that bod is looking fierce the next time you hit the pool or beach.
It’s easy to think of the political and financial elites who run our world as lofty and all powerful. They command dangerous governments that can wield devastating weapons, central banks that treat our economy like a rigged casino, media conglomerates that pacify the minds of the public, and unbelievably wealthy corporations that have concentrated wealth to an unprecedented degree.
However, they’re certainly not invincible, and the systems of control that they’ve created are rapidly diminishing. Most notably, they seem all to aware of the fact that the global economy is headed for a crash. On the rare occasion where you can catch one of the elites in a moment of candor, they’ll tell you that the party is almost over.
Mohamed A. El-Erian is a bona fide member of the global power elite (a former deputy director of the IMF and president of the Harvard Management Co.). Yet he writes in a fairly accessible style on the popular Bloomberg website. When El-Erian talks, we should all listen.
In a recent article he raises serious doubts about the sustainability of the bull market in stocks because of reduced liquidity resulting from simultaneous policy tightening by the Fed, European Central Bank (ECB) and the Bank of England.
He says stocks rose on a sea of liquidity and they may crash when that liquidity is removed. This is a warning to other elites, but it’s also a warning to you.
Their actions are quite telling as well. Sovereign wealth funds, which are largely funded and owned by powerful governments to invest in domestic industries, are jumping ship.
Among sovereign wealth funds, the Government of Singapore Investment Corp. (GIC) is one of the largest, with over $354 billion in assets. So what does the head of GIC say about markets today?
Lim Chow Kiat, CEO of GIC, warns that “valuations are stretched, policy uncertainty is high” and investors are being too complacent.
GIC allocates 40% of its assets to cash or highly liquid bonds and only 27% of its assets to developed economy equities.
Meanwhile, the typical American small retail investor probably has 60% or more of her 401(k) in developed economy equities, mostly U.S.
In other words, the investment arms of wealthy nations are pulling out of the stock market and out of companies in their own economies (developed economy equities), and putting their money into assets that can be quickly turned into cash. It’s practically an admission by the elites, that they think the economy is completely unstable.
But this is just the latest warning sign that the elites are getting nervous. Corporate executives have been selling their stocks at an unprecedented rate for several months. Meanwhile, ordinary people are still placing their faith and their bets on a stock market that most experts agree is completely unsustainable.
And let’s not forget that “luxury bunkers” have become immensely popular, and that the super-wealthy have also been buying remote retreats all over the world. Are they afraid of what the public is going to do to them when their phony economy crashes and leaves everyone broke? Are they positioning themselves for a crash that they know is coming?
All of this suggests that the wealthiest and most connected among us know that chaos is in our future, and they’re getting ready for it. Ignore them at your own peril.
As you consider starting a business, or taking the next step in the one you have, remember Mr. Miyagi’s wisdom from “Karate Kid”: “Evry’ting not always as seem.”
The Richest People in Human History (Up until the Industrial Revolution)
Click here for a larger, more legible version of the infographic that you can explore in-depth.
When we think of wealth today, we often think of the massive personal fortunes of business magnates like Bill Gates, Jeff Bezos, or Warren Buffett. However, it is only since the Industrial Revolution that measuring wealth by one’s bank account has been a norm for the world’s richest.
For most of recorded human history, in fact, the lines around wealth were quite blurred. Leaders like Augustus Caesar or Emperor Shenzong had absolute control of their empires – while bankers like Jakob Fogger and Cosimo de Medici were often found pulling the strings from behind.
This infographic focuses on the richest people in history up until the Industrial Revolution – and in the coming weeks, we will release a second version that covers wealth from then onwards (including figures like Andrew Carnegie, John D. Rockefeller, Jeff Bezos, etc.).
Is This List of People Definitive?
While it is certainly fun to speculate on the wealth of people from centuries past, putting together this list is exceptionally difficult and certainly not definitive.
Firstly, much wealth in early periods is tied to land (Genghis Khan) or entire empires (Augustus, Akbar), which makes calculations extremely subjective. What is most of Asia’s land worth in the year 1219? What separates personal fortune from the riches of an empire that one has full control of? There are a wide variety of answers to these questions, and they all influence the figures chosen to be represented.
Secondly, records kept from Ancient eras are scarce, exaggerated, or based on legends and oral histories. Think of King Solomon or Mansa Musa – these are characters described as immeasurably rich, so trying to put their wealth in modern context is fun, but certainly not guaranteed to be historically accurate.
Lastly, wealth and conversion rates can be approached in different ways as well. Take Crassus in the Roman Republic, who had a peak fortune of “200 million sesterces”. Well, that’s a problem for us in modernity, because that stash could be worth anywhere from $200 million to $169.8 billion, depending on how calculations are done.
So, enjoy this list of the wealthiest historical figures, but keep in mind that it is mostly for fun – and that the list of the wealthiest people in history changes depending on who you ask!