Share to Twitter Share to Linkedin D onald Trump has made a lot of investments over his career. One of the flashiest, his purchase of Mar-a-Lago, also turned out to be one of the best. Trump paid an estimated $10 million for it in 1985 and turned it into a moneymaking club, before a rising real estate market made it one of the most valuable homes in the world. Today, the crown jewel of Palm Beach is worth an estimated $350 million. The property, which the former president said the Federal Bureau of Investigation raided on Monday, was historic long before Trump got involved with it. The cereal heiress Marjorie Merriweather Post built the estate from 1924 to 1927, incorporating details befitting the Roaring Twenties. Stones traveled from Genoa, Italy via three ships. Silk-needlework panels came from an old palace in Venice. The living room rug hailed from a Spanish monastery. In 1973, Post passed away, bequeathing Mar-a-Lago, which means “sea to … [Read more...] about How Much Has Trump Made From Mar-A-Lago, His Palm Beach Estate Under Siege?
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Share to Twitter Share to Linkedin It’s a popular narrative on the Left at the moment to say that members of the Right have an unhealthy disdain for “experts.” Washington Post columnist Catherine Rampell is a notable critic on the matter, but the view here is that her criticism misses the mark. Reasonable members of the Right don’t loathe experts as much as they dislike central control. Reducing all of this to the absurd, let’s imagine for fun that the smartest individual in the United States is none other than our President, Joe Biden. In a nation populated by geniuses, Biden sitting at the top in terms of intelligence wouldn’t alter a simple truth frequently ignored by the expert reverent: there’s arguably not a fraction yet conceived that could properly convey how small Biden’s knowledge would be relative to the collective knowledge of the American people. All of which hopefully explains why markets always and everywhere beat central planning. It’s … [Read more...] about Central Planning Fails Just As Much When Conservatives Are the Planners
Share to Twitter Share to Linkedin The site of this year's Super Bowl was within walking distance of many hotels and all of downtown ... [+] Indy. Sunday’s Super Bowl was the most watched television event in American history, tuned into by nearly half of all households and at peak time, more than 117,000,000 viewers. Ad rates were $3.5 million per 30 second spot, and while viewers debated who was better, an overweight Volkswagen obsessed dog or Clint Eastwood, the real beneficiary of all that airtime and all those viewers was the city of Indianapolis. “Ten years from now, I think we will look back on this one single day as the tipping point in tourism and perception for the city,” said Chris Gahl, Vice President of Marketing for the Indianapolis Convention and Visitors Association. Several years ago when the city decided to go for the 2011 Game (it ended up with 2012), the bid process required $25 million in non-taxpayer funds, and several … [Read more...] about Super Bowl XLVI’s Real Winner? Indianapolis!
RBI Governor Shaktikanta Das. (File photo) Dear Reader , A day before the monetary policy announcement, the yield on the 10-year bond fell sharply on a media report that the MPC would signal a pause after Friday’s hike. Thankfully, the MPC held firm, refusing to oblige the bond markets. Not only did it increase the repo rate by 50 basis points, but also the MPC signalled more rate hikes in future by refusing to tone down its ‘withdrawal of accommodation’ stance. Much is being made of the fact that the policy rate is now at the pre-pandemic level. At 5.4 percent, the repo rate is now back to where it was in September 2019. But that is no big deal. GDP growth was a measly 3.7 percent in 2019-20 compared to RBI’s projection of 7.2 percent in 2022-23; retail inflation was a much lower 4.8 percent in 2019-20, compared to a projected 6.7 percent for 2022-23; the current account deficit was a comfortable 0.9 percent of GDP in 2019-20 as against projections of around 3 percent … [Read more...] about Moneycontrol Pro Weekender | Shaktikanta Das refuses to pivot
Property giant Federal Land Inc. has its origins as a hobby of the late business magnate and Metrobank group founder George S.K. Ty. Five decades later, the builder is betting its future on a sprawling partnership with Nomura Real Estate (NRE) Development Co. Ltd., one of Japan’s top developers, to bring Japanese technology and aesthetics to the Philippine property market. The two real estate powerhouses teamed up to form Federal Land NRE Global Inc. (FNG), the vehicle that would develop a series of townships across the country, including a 100-hectare Japanese “smart city” in Cavite and a mixed-use project along Manila Bay. Federal Land chair Alfred Ty said on Tuesday investments could reach roughly $2 billion in less than a decade. Other local developers have expanded into townships, which typically refer to masterplanned communities offering a combination of residential, commercial and office projects, but Ty said FNG would go beyond this model. “FNG is looking at offering … [Read more...] about Federal Land, Nomura to build ‘smart’ Japanese townships
Accelerating inflation has cooled the Philippines’ second-quarter economic growth to 7.4 percent, below market expectations, the government reported on Tuesday. Gross domestic product (GDP) expansion during the April-to-June period was lower than 8.2 percent a quarter ago and 12.1 percent a year ago, National Statistician Dennis Mapa said in a press briefing. The majority of economists watching the Philippines had projected a sustained above 8-percent growth for the second quarter. Also, Mapa said second-quarter GDP or the total goods and services produced in the country was smaller than the first-quarter output by 0.1 percent. “Transportation and storage, manufacturing, human health and social work activities were the top contributors to the [quarter-on-quarter] decline,” the Philippine Statistics Authority (PSA) said in a statement. Socioeconomic Planning Secretary Arsenio Balisacan nonetheless noted that the Philippines was the second-fastest growing economy in emerging … [Read more...] about Soaring inflation cools PH Q2 GDP growth to 7.4%
- A + A (Aug 9): China’s top auditor is conducting a review of the US$3 trillion trust industry, paving the way for a potential overhaul of a key shadow banking sector where losses on property loans are mounting. In an unscheduled move, the National Audit Office — which previously led an examination of bank exposures to Jack Ma’s Ant Group Co — has for the past month been inspecting the books of at least 20 trust firms, including the top five, to gauge the risks they pose to financial stability, according to people familiar with the matter. The firms are being asked to report on their risky loans to developers and any plans to dispose of them, the people said, asking not to be named as they’re not authorised to speak publicly. The audit office is expected to submit its conclusions to policy makers in Beijing, who may decide on the future reforms of the sector, the people said. While it is unclear what regulatory action the scrutiny will spur, the move illustrates … [Read more...] about China orders surprise audit of US$3 trillion trust industry
Share to Twitter Share to Linkedin Both oil and gas exported from Russia bring in significant revenue that can be used to support the Russian war in Ukraine. But the export revenue from oil sales is much greate r than export revenue from gas sales. If the West stops buying oil this really hurts Russia – more than if the West stopped buying gas. Back in May, the EU agreed to ban all Russian oil imports by the end of 2022, at least those that are delivered by sea. That was a good move. Russia threatens to cut gas supplies to the European Union. Russia has realized that cutting natural gas doesn’t affect their export revenue (like oil does) but it affects the economies of EU countries a lot more. Russia supplied the EU with 40% of its gas last year , with Germany, Italy, and Netherlands the top three importers in actual volumes of gas. Germany had imported more than 50% of its gas from Russia via the Nord Stream 1 pipeline. By the end of June, … [Read more...] about Russia Threatens, EU Reduces, US Industry Helps To Untangle The Natural Gas War In Europe.
If you're serious about bringing your ideas for products to market, you should absolutely attend trade shows. They're always eye-opening. The only way to truly understand the mechanics of any industry is by attending its trade shows. One guarantee? You'll be overwhelmed. I've attended all kinds of shows over the course of my career as a product developer , including toys, back-to-school, pet, housewares, hardware, electronic, promotional, music, and more. Checking out the latest innovations and making new friends at a trade show never fails to inspire me. But I've also wasted a lot of time attending the wrong shows and not having clearly defined goals. When you're starting out, it's especially important that you make good decisions. Your resources are limited! Preparation is key. At trade shows, I meet inventors who have spent years and tens of thousands of dollars getting ready to show their product to the world. They've paid for a booth and now today's the big … [Read more...] about What Inventors Need to Know About Trade Shows
Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar (Bernama filepix) - A + A KUALA LUMPUR (Aug 9): The establishment of the co-operatives federation, representing a co-operatives union, empowers the co-operative movement that carries out activities under the six economic sectors. The six sectors are wholesale and retail; tourism, personal care and health; financial services; farming; real estate and construction industry; and agriculture and agro-based industries. Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar said co-operatives are seen as important in the socio-economic development of society, especially in helping deal with the people’s cost of living. “In view of the importance of the cooperatives sector in the development of socio-economy and in addressing the cost of living of the people, the government has agreed that the plantation co-operatives be given assistance in the recruitment of foreign labour. “Besides … [Read more...] about Co-operatives federation empowers co-operatives under six economic sectors, says Noh Omar