by Adam Elder Besides spending too much of it? Lots of things… There are so many dumb ways to spend your money — indeed, Las Vegas was pretty much founded upon this principle. But vices and material pleasures aside, what are truly the stupidest ways to waste your money? Alongside a couple of Certified Financial Planners affiliated with the XY Planning Network — Mark Wilson, with MILE Wealth Management in Irvine, California, and Kayse Kress, with Physician Wealth Services in Bristol, Connecticut — we tried to figure out the worst offenders. I KNOW I’M SPENDING TOO MUCH, BUT HOW DO I SPEND LESS? Yes, … Continue reading WHAT’S THE STUPIDEST THING I’M DOING WITH MY MONEY?
Traders work on the floor of the New York Stock Exchange on November 20, 2018.BRENDAN MCDERMID / REUTERS If you’re going to worry about the economy, tumbling stocks are the least of America’s financial troubles right now. by Derek Thompson Staff writer at The Atlantic In December 2007, Larry Kudlow, then a talking head for the business network CNBC, proclaimed, “There’s no recession coming. It’s not going to happen.” That same month, the economy plunged into the worst economic downturn since the Great Depression.This week, Larry Kudlow, now the director of the National Economic Council, stood on the White House lawn … Continue reading Is a Recession Coming?
NERDWALLET / KATIE MARTIN / THE ATLANTIC How Tim Chen, the founder of NerdWallet, worked up the nerve to start a company after getting laid off during a recession by LOLA FADULU Tim Chen had recently been laid off from his job as a financial analyst at a hedge fund, during the recession of 2008, when his sister asked him for help finding a good credit card. Much of the information he found online was confusing and disorganized, so he decided to start a personal-finance website; it would go on to become NerdWallet, which is now worth $500 million and … Continue reading When Losing Your Job Is a Blessing
What finance will look like when it is controlled by machines. BY ALEKSANDR KAPITONOV & IVAN BERMAN Our future will be bright, fast—and full of robots. It’ll be more Asimov than Terminator: servant robots, more or less similar to us. Some will be upright androids, but most will be boxes filled with computer chips running software agents. And there will be a lot of them. Forecasts predict that, within just three years, we’ll have 1.7 million robots in industry, 32 million in our households, and 400,000 in professional offices.1 Robots will begin to run our factories. Autonomous sensors will monitor … Continue reading The Robot Economy Will Run on Blockchain
by Jon Rappoport, Guest Waking Times Every significant breakthrough in human history has been enabled through imagination. It’s the leap. It’s the vision unfettered by imposed restrictions. It’s the future as yet unrealized, glimpsed in the mind. Given that this is the case, one wonders why financial patronage isn’t poured like a Niagara into imagination, to support it, extend it. The answer is simple. Those who have the vast resources to do it can’t see past what I called Set One. Set One is the collection of their own perceived problems. For many, these are personal problems; for others, who look at … Continue reading THE PATRONS OF IMAGINATION
US non-profit GiveDirectly provided universal basic income to several villages in the Kisume area of Kenya. The headmaster of this school used his to buy new furniture and books. Photo by Thomas Dworzak/Magnum It’s difficult to test whether poverty relief actually works. Do randomised controlled trials provide a scientific measure? by Stephanie Wykstra is a research consultant and freelance writer based in the New York City area. Her writing has appeared in Slate, Vox and Inside Higher Ed, among others. Edited by Nigel Warburton Six years ago, a woman in rural Kenya told me her story. Every night when it rained, she’d have to move her children … Continue reading What really helps the poor?
Another day, another politician who seems to have no idea what it’s like to eat while poor. Here’s my story. by Tracy Moore I grew up with a single mother who made $12,000 a year, which means for most of my life, Vienna sausages and the bologna with the red ring around it were a luxury. My sisters and I never saw a dentist until we were teenagers, or a real doctor before we were nearly 20. And yet, as a full-grown adult, having to support my partner and kid on a $50-a-week food budget was harder. Harder still? Hearing politicians continue to … Continue reading How to Feed Your Family on $50 a Week