Category Archives: Essays

Climate Change and Captain Kirk

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“Of course, we aren’t seriously proposing government subsidies on the grounds that CO2 emissions confer ‘social benefits’ that aren’t being fully internalized by the emitters. The point is that even taking the Administration’s case on its own terms, it’s not even clear that CO2 emissions are a bad thing. And to repeat, we’re running 2 of the 3 computer models that the Obama Administration team used to come up with these figures for federal agencies. Last point: You might wonder why they (and I) didn’t try peeking under the hood of the third model, the so-called PAGE model. The answer is that it’s proprietary, and the creator (Chris Hope) doesn’t make the code publicly available.”

http://consultingbyrpm.com/blog/2014/04/climate-change-and-captain-kirk.html

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The Future of Countries

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“We tend to forget that, although the world map has looked more or less the same since the end of World War II, it has been the norm, throughout history, for large parcels of property to change hands fairly often. Boundaries move. Countries become larger, smaller, or disappear altogether. Large empires are created, swallowing up smaller countries, sometimes lasting for 200 years or more, then inexorably breaking up into smaller remnants.  Certainly we are heading into a period of dramatic change—economic change, social change, and certainly political change. Whenever such a period occurs in history, changes in the lines on the map inevitably also occur.”

http://www.internationalman.com/articles/the-future-of-countries

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The Latest Bubble to Pop: Mortgage Refinancings

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“The refinancing game is nearly over.  Just looking at the mortgage side of life, this means that the increase of households’ retained cash flow is unlikely to improve further. For many of the large lenders, it also means a reduction in workforce—a significant one, in many cases—which will impact employment figures and possibly further recovery.  A final note in this saga pertains to household leverage. Common wisdom seems to hold that US households have deleveraged since the mid-2000s crash. Unfortunately, that’s not the case.  In 2008, total household liabilities stood around $14.2 trillion. At the end of 2013, they were $13.8 trillion—a paltry 2.8% decline.”

http://www.caseyresearch.com/cdd/the-latest-bubble-to-pop-mortgage-rates-and-their-butterfly-effect-on-the-e

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Hunting for Foreign Real Estate Bargains

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“There are a number of reasons for looking into real estate in Cyprus—including beautiful Mediterranean beaches, an agreeable lifestyle, and crisis-driven bargains.  Cyprus has long been and will continue to be a popular place to own property. It enjoys a pleasant winter and what many regard as the Mediterranean’s most beautiful beaches. People from all over the world come to Cyprus to retire and to own vacation homes.  In some cities, including Paphos and Limassol, foreigners are a majority. If you find the thought of joining them attractive, then the lingering effects of last year’s crisis could present you an opportunity to get in cheaply.”

http://www.internationalman.com/articles/hunting-for-foreign-real-estate-bargains

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Surrendering U.S. Citizenship Over New Banking Regulation?

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“68% of the U.S. citizens we surveyed report that they are interested in severing ties with America. A shocking figure? Indeed. It is also supported by official statistics of passport relinquishments. The number of Americans relinquishing their U.S. citizenship surged in the second quarter of 2013, to 1,131 cases, compared with 189 in the same period in 2012.  But it is perhaps not as shocking when you consider that it was U.S. citizens living overseas who were the respondents in deVere’s survey — and that it is the estimated 7.2 million American expatriates and 13 million green-card holders who are the ones who are soon to suffer the serious, adverse effects of the Foreign Account Tax Compliance Act.”

http://www.americanbanker.com/magazine/124_04/bankthink-surrendering-us-citizenship-over-new-banking-regulation-1066813-1.html

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Robert Ringer: The Illusion of Misfortune

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“People often misread an event or circumstance as an adversity or setback.  The problem is that we tend to judge events on the basis of their immediate impact, but, as life repeatedly teaches us, the long-term consequences of an action can be quite different from what we initially observe.  The bad is superficial and obvious; the good often takes investigation and long-term observation.  It’s important to recognize that the true result of an event may take a long period of time to come to fruition.  Thus, misfortune and setbacks are frequently nothing more than illusions, which is why we so often fail to connect the long-term benefits to the seemingly negative situation that confronts us.”

http://robertringer.com/the-illusion-of-misfortune/

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Bill Bonner: A New Manifesto for Building Wealth

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Bill-Bonner2

“The serious long-term wealth builder has to anticipate the end of the trend – and make sure he is not destroyed by it.  That means being on the right side of the magic of compounding – which involves making profits on your profits. You want your gains to compound, but not your costs.  Finally, the serious long-term wealth builder can wait for the ‘perfect pitch.’ He is not afraid of volatility. He knows that prices go up and down. He knows, too, that he can wait for prices to get to bargain levels before he buys.  He is a ‘patient opportunist,’ in other words. Buying at epochal lows, he has a much better chance of compounding gains over a long time.”

http://www.bonnerandpartners.com/a-new-manifesto-for-building-wealth/

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Could They Really Take Away Your Citizenship?

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“A law proposed in 2010 would revoke the citizenship of individuals – including native-born Americans – deemed to be ‘engaging in, or purposefully or materially supporting, hostilities’ against the United States.  This would spare the Uncle Sam the embarrassment of assassinating his own citizens, although this is now established US policy. The Obama administration admits to killing at least four US citizens in drone strikes, including a 16-year-old boy.  In addition, hundreds of dual nationals traveling outside the US have been stripped of their US passports and have no way to re-enter the US. Under the Obama doctrine, they could be targeted for assassination anytime.”

http://www.nestmann.com/could-they-really-take-away-your-citizenship

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“Cruel and Unusual” Is the Only Way to Describe It

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“Consider the case of Mary Estelle Curran, a 79-year-old widow who faced six years in prison and over $20 million in fines. Curran inherited a number of offshore accounts worth around $40 million from her husband after he passed away and was allegedly unaware of how to properly file the required FBAR forms.  I don’t know how any decent human being could look at themselves in the mirror again after helping to put away an old widow—or anyone for that matter—for a make-believe ‘crime’ like not filing an FBAR. If throwing an elderly widow in a cage for six years for not properly filling out a government form is not cruel and unusual punishment, then the phrase has no meaning.”

http://www.internationalman.com/articles/cruel-and-unusual-is-the-only-way-to-describe-it

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“Why I Set Up an Offshore Company”

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“If you deal mainly with physical products that stay within UK borders, then it’s probably not what you want. If you export or if you deal with intangible services then it might fit the bill.  Once you decide an offshore company is for you, start researching a formations company to use. Ask around in some online forums as there are plenty of people out there that have had good and bad experiences and who are more than willing to give pointers. A point of massive importance is the actual jurisdiction that you decide to incorporate within — all have their own rules and nuances, so read about them carefully and find the one that best suits what you want to do.”

http://www.internationalman.com/articles/e2-80-9cwhy-i-set-up-an-offshore-company-e2-80-9d

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