Investment/Trends

India’s financial prophet Raghuram Rajan to run central bank

"Mr Rajan, a Chicago professor and former chief economist at the International Monetary Fund, clashed openly with US Federal Reserve officials and top policymakers in 2005 over the risk that derivative contracts would amplify any financial crisis once the cycle turned. He said the US had created incentives for destructive behaviour, effectively pushing homeowners and banks into risky ventures. He was called a 'Luddite' by none other than Larry Summers, former US Treasury Secretary and now front-runner to take over as Fed chairman. The two men may soon be direct counterparts. Mr Rajan’s warnings were borne out by events." Continue reading →

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Goodbye Cable TV, Hello Google

"This diminutive device, nearly as small as a flash thumb drive, plugs right into your TV — through the HDMI port. It can stream video content wirelessly from the Internet to your TV using an Android or iOS device, or a PC or Mac, using Google’s Chrome browser, as a remote control. Chromecast could be a really disruptive product. According to a Sandvine report, YouTube and Netflix account for an estimated 49.4% share of all peak downstream Internet traffic in the U.S. Now with Chromecast, those users can steam that Internet traffic onto their TV’s easily. For a mere $35, Chromecast can turn any television into a player for streaming Internet video content." Continue reading →

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Fantasy Dream: Easy Retirement (If You Have $1 Million).

"MarketWatch is a conventional website. It runs financial news. It also runs articles on investing. This one caught my eye. 'How to make your nest egg last over 40 years.' That sounds good! I read it. The article says you can achieve this goal. But you will need at least $2 million. A million won’t get the job done. The point is this: a journalist in a major financial magazine shows that there is no easy retirement, even if you have $1 million at 65. But hardly anyone does. Then how will people afford retirement? They can’t. Do most people understand this? They will move in with their kids. Are the kids ready for this? No. Are the kids in debt? Yes." Continue reading →

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Shield Your Nest Egg from Its Two Biggest Threats

"For a government to siphon off wealth efficiently, it must know where the wealth is, set up ways to take it, and have a strong enough police force to make sure citizens comply. The intention is to make it easier to pay up than go to jail. Even people with modest nest eggs are constantly looking for ways to legally protect their wealth. Lawyers love it, since it means citizens need a variety of trusts and complicated legal avenues for minimizing taxes. That's part of the game. As governments press on, the stakes escalate, taxes increase, and we have to escalate our efforts to protect ourselves." Continue reading →

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Drive Drunk or Asleep, Wherever You Want!

"Whether you believe in the futuristic, high-speed flying capsules of science fiction or a less glamorous evolution of cruise control, one thing’s for sure: A major shift to autonomous driving technology is just around the corner. Google’s fleet of self-driving Priuses is picking up speed, driver-assistance technology is rapidly being developed and many autonomous devices already are standard in dozens of existing car models. But are we really ready to take our hands off the wheel?" Continue reading →

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The IRS has become one of America’s leading exports

"If a 747 jetliner filled with one investor from each jurisdiction on earth touched down in a newly independent country, and each investor risked $1000 in a start-up venture, in the new economy, the American would face a far higher tax than anybody else on any gains. Special, penal taxation of foreign investment, exemplified by the so-called PFIC taxation, plus the U.S. nationality tax, can result in tax liabilities of 200 per cent or more on long term assets held outside the United States. A successful American could reduce his total lifetime tax burden as a citizen of any of more than 280 other jurisdictions on the globe." Continue reading →

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BitPay Partners with 3dcart, Giving 16,000 Online Merchants the Ability to Accept Bitcoin

"In a strategic move that could more than double the number of bitcoin merchants on its roster, BitPay has announced a partnership with 3dcart, a well-established eCommerce platform for online store owners. The partnership gives some major online merchants – including Bubba Gump Shrimp, Coffee Bean & Tea Leaf, and The New York Times – the option (not obligation) to enable bitcoin payments directly through 3dcart back-end tools. BitPay gives merchants the option to accept bitcoin payments and instantly convert all, some, or none of the bitcoins into a bank deposit that clears in one business day." Continue reading →

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Coinlab to incubate Bitcoin startups

"Venture-backed Bitcoin exchange CoinLab has announced it will start to incubate new Bitcoin businesses, starting with enterprise-scale mining company Alydian. CoinLab won't be providing any capital or mentoring to existing businesses. Instead it will come up with new ideas for businesses internally, and recruit external management talent to develop the ideas. The first portfolio company CoinLab is launching is Alydian, which is the first company to offer 'multi-terahash-speed' mining systems. CoinLab has recruited former Pixelworks CEO Hans Olsen to head up the business." Continue reading →

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Civil Unrest Coming to America

"The 'start-up job rate' in our country – the number of jobs in newly created American companies – has fallen during the Obama administration to 7.8 per 1,000 people, a 31% decline from the first President Bush. Those missing jobs and the resulting impact on unemployed youth are the kindling that ignites fiery riots. When our unemployed youth reach the point where they perceive that they have little left to lose, well it will be London and Stockholm and Athens all over America. That’s a when, not an if. The question I wonder is how America will react. Will the riots be enough to change the stupor in Washington?" Continue reading →

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Federal judge: Bitcoin, “a currency,” can be regulated under American law

"In the case of a Texas man accused of massive Bitcoin-based fraud, a federal judge has ruled that bitcoins are 'a currency or form of money,' and are therefore subject to relevant US laws. The case revolves around Bitcoin Savings and Trust (BTCST), a virtual Bitcoin-based hedge fund that many suspected of being a scam. BTCST shut down in August 2012, and the Securities and Exchange Commission (SEC) last month formally charged founder Trendon Shavers with running a Ponzi scheme." Continue reading →

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