David Siegel, the owner of Westgate Resorts, sent a surprising email to his employees Monday.
It said that if President Barack Obama wins re-election and raises Siegel’s taxes, he will have to lay off workers and downsize his company — or even shut it down.
“If any new taxes are levied on me, or my company, as our current President plans, I will have no choice but to reduce the size of this [...]
He’s the council-house boy who battled his way to the top of Tesco and transformed the supermarket’s fortunes. Now, in our concluding extract from his inspirational new book, Sir Terry Leahy reveals the tough lessons he learned along the way… and shares the ten simple truths that can help you on the road to riches.
Supermarkets destroy corner shops.’ ‘They tear the hearts out of local communities, concrete over fields, squeeze [...]
For most of us, taking a trip in the car means missing out on certain luxuries which we enjoy at home.
However, for anyone wealthy enough to own this luxury limousine, that needs not be the case.
The opulent vehicle comes fitted out with a number of incredible features, including a built-in exercise bike which can be used whilst sitting back in one of the leather seats.
The vehicle also comes with a burr wood [...]
The survey revealed some more interesting tidbits:
23% of guests said their favorite modern in-room amenity was the use of iPads. • 45% reported that their favorite new amenities are happy hours, wine tastings or any other activities involving free food and drinks.
31% of travelers want complimentary bottled water in their hotel rooms (34% of female travelers and 24% of male travelers).
Some guests admitted to stealing linens/towels (14%) or magazine/books (12%) [...]
by The Economic Collapse
How To Prepare For The Difficult Years Ahead
How should people prepare for the difficult years that are coming? I get asked about that a lot. Once people really examine the facts, it is not too hard to convince them that an economic collapse is coming. But once they accept that reality, most of them want to know what they can do to prepare themselves and their families for [...]
This is opinion only, but I would NOT buy housing unless the property was in a semi-rural or in-town rural community where you could be part of a community (safety in numbers) and grow at least a good-sized kitchen garden. Straight farm acreage is currently in a rising speculative bubble yet home prices are dropping: you might even get a better deal on farmable land if it was a large lot [...]
The Good news is:
Household liability in US has come down to 119.3% of disposable income in first quarter 2011 from 135% in 2007. The Household debt service ratio dropped to 16.4% from 18.9%. The default or ‘charge off’ in consumer loans dropped to 4.5% from 6.7% .
The Bad news is:
People are sacred of debt. Not many are willing to live on debt anymore, particularly long term [...]
AIRFAX, Va. — Resort-style swimming pools with fountains and heated spas, billiards rooms, granite counter tops, ceramic tile, indoor basketball courts, stainless steel appliances — many Fairfax County taxpayers cannot afford such luxuries. But they are paying for these amenities for use by low-income residents who live in subsidized housing in affluent neighborhoods.
“They’re a part of our rental program where we subsidize the rents [...]
Almost 40% of homeowners who took out second mortgages—extracting cash from their residences to cover everything from vacations to medical bills—are underwater on their loans, more than twice the rate of owners who didn’t take out such loans.
The finding, in a report to be released Tuesday by real-estate data firm CoreLogic Inc., illustrates the consequences of easy borrowing amid the housing boom’s inflated prices. The [...]
Marginal, average yearly, top-end tax rates in America, by decade:
Real, Per Capita GDP Growth in America, by decade:
Source: IRS, Bureau of Economic Analysis (www.bea.gov)
Okay, for anyone who has studied basic macro-econ
omics, there’s a well documented phenomenon known as the “marginal propensity to save versus the marginal propensity to consume”.
This bit of economic theory [...]
by Invisible Hand
I was a technical person, then a medical scientist in the military.Â To progress up the ranks you needed to organize golf tournaments, not perfrom your duties well.Â I chose to focus on clinical competence and opted to retire ASAP to get out of the stupidity.Â However, by doing so, I let the idiots who knew nothing (except how to organize golf tournaments [...]
For over three decades Gary has been rated one of America’s top economic forecasters by Institutional Investor, Futures, the Wall Street Journal and others. Shilling’s been a regular Forbes columnist since 1983, respected for his contrarian views, usually on target.
So let’s cut-to-the-chase: Here are his latest: 17 Picks = 6 Buys + 11 Sells.
The good news: Six buys for 2010
1. Buy treasury bonds.
2. Buy income-producing securities.
3. Buy consumer staples and [...]
They said they had to increase prices due to the credit crunch.
Also credit card interest rates for anyone not paying off their valance has gone up again to record highs, even though the banks get their money near zero rates. Food shopping was dearer this week, as I got a couple of packs of fish from the supermarket. They looked the same size as I usually get, but was a [...]