Stuart Landesberg started his career at Lehman Brothers and TPG Growth, but he felt a pull toward the sustainable-living industry. He’d grown up composting in his family’s backyard and had a vision of selling eco-friendly products online. “I was filled with the hubris of a 26-year-old guy who works in finance,” he says. So in 2012, he […]
Whether counterfeiting is in the form of making brass or plastic coins that simulate gold, or of printing paper money to look like that of government, counterfeiting is always a process in which the counterfeiter gets the new money first.
This process was encapsulated in an old New Yorker cartoon, in which a group of counterfeiters are watching the first $10 bill emerge from their home printing press. One remarks: “Boy, is retail spending in the neighborhood in for a shot in the arm!” And indeed it was. The first people who get the new money […]
Your net worth is a lagging measure of your financial habits. Your weight is a lagging measure of your eating habits. Your knowledge is a lagging measure of your learning habits. Your clutter is a lagging measure of your cleaning habits. You get what you repeat. If you want to predict where you’ll end up […]
The US is living in the post-constitutional era – a time when virtually all of the rights that the US founding fathers laid down have been removed by one means or another.
But there’s a right that lingers – the Second Amendment – the right to bear arms. Not surprisingly, a major campaign is underway to eliminate this right. Roughly half the population of the US has become convinced that only the authorities should be allowed to bear arms. These people either do not know their history […]
Pre-paid sales (gift cards, certificates, vacation packages etc.) can be used as a form of free financing.
Bob Stupak built his Vegas World (now: Stratosphere) hotel towers, one floor at a time, using cash generated from the sale of pre-paid ‘Vacation Club’ packages for $396.00. Delayed redemption gave him the equivalent of interest free cash to pay construction costs. The non-redemption turned about $1 worth of paper into $396, a nifty ‘slack […]
Once a money has been established in the market, no increases in its supply is needed, and they perform no genuine social function. As we know from general economic theory, the invariable result of an increase in the supply of a good is to lower its price. For all products except money, such an increase […]