By EconMatters
By EconMatters
We compare Germany and South Korea`s Business Development Strategy versus the United States – and how important top down leadership is in cultivating a strategic vision for a country`s growth prospects.
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Source: Politicians: It`s not the Jobs Stupid, It`s the Job`s Strategy Stupid (Video)
“X-Men: Apocalypse” lead the way at the memorial day box office as “Alice Through The Looking Glass” flops.
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Source: ‘X-Men’ takes top spot as ‘Alice’ flops at box office
Unionized Verizon workers who had been striking since mid-April will return back to work on June 1 after negotiating a healthy pay raise and bonus.
…read more
Source: Striking Verizon workers score raise and bonuses
By Tyler Durden
As the barbeque-bonanza and shopping-fest, that Memorial Day has become for many, takes shape, we thought a little reflection was necessary on the deeper meaning behind this important celebration honoring those who fell in the armed services of America during its wars.
“Ask not what your country can do for you – ask what you can do for your country.”
— John F. Kennedy
“I have long believed that sacrifice is the pinnacle of patriotism.”
— Bob Riley
“Liberty, when it begins to take root, is a plant of rapid growth.”
— George Washington
“The legacy of heroes is the memory of a great name and the inheritance of a great example.”
–Benjamin Disraeli
“It doesn’t take a hero to order men into battle. It takes a hero to be one of those men who goes into battle.”
— H. Norman Schwarzkopf
“They hover as a cloud of witnesses above this Nation.”
— Henry Ward Beecher
“Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.”
— Senator Barry Goldwater
“Life is eternal; and love is immortal; and death is only a horizon; and a horizon is nothing save the limit of our sight.”
— Rossiter W. Raymond
The national signal flare that summer is here is just days away. What will people be doing? WalletHub did the research for this infographic. Of note are:
Remember those who made the ultimate sacrifice this weekend. Have fun at the celebrations but be safe!
Source: Valuewalk.com, WalletHub.com, and Townhall.com
Source: Never Forget
By Tyler Durden
Submitted by John Rubino via DollarCollapse.com,
One of the defining traits of the past few years’ “recovery” has been the torrent of money flowing from big banks to favored clients, and from there into trophy properties like high-end real estate, superyachts, and fine art. This might be the first financial bubble to completely bypass the 99%.
And now it’s ending. Falling oil prices and negative interest rates (rich people own a lot of government bonds) seem to have sucked the animal spirits out of the 1%, leading to stories like this:
A Worrisome Pileup of $100 Million Homes
(New York Times) – One of the latest symbols of the overinflated luxury housing market is a pink mansion perched above the Mediterranean on the French Riviera.
The 13,000-square-foot property, built and owned by the fashion magnate Pierre Cardin, is composed of giant terra cotta orbs arranged in a sprawling hive. The home’s name befits its price. “Le Palais Bulles,” or “the Bubble Palace,” is being offered for sale at approximately $450 million.
The listing is part of a global pileup of homes listed for $100 million or more. A record 27 properties with nine-figure prices are officially for sale, according to Christie’s International Real Estate. That is up from 19 last year and about a dozen in 2014.
If you add in high-priced “whisper listings” that are offered privately, brokers say the actual number of nine-figure listings worldwide could easily top 40 or 50.
“It’s a bumper crop,” said Dan Conn, chief executive of Christie’s International Real Estate. “It’s just a new world in terms of what people are building and offering for sale.”
The rise in nine-figure real estate listings comes just as sales of luxury real estate have cooled. Many say the sudden surge in hyperprice homes — often built and sold by speculative investors — is the ultimate bubble signal.
“When you have a record number of homes for sale at a price point of $100 million or more, that tells you these homes aren’t selling,” said Jonathan Miller, president of Miller Samuel Inc., a real estate appraisal and research firm. “It’s not as deep a market as some might hope.”
Still more nine-figure homes are on the way. Real estate agents and developers say a home under construction in Bel Air is likely to have more than 50,000 square feet of living space, with finishes rivaling a superyacht’s. The price will be yacht-like, too, at around $300 million. Among the home’s amenities: the world’s largest safe.
And this…
Trophy Corporate Jets Were All the Rage, Until They Weren’t
(Bloomberg) – The private jet Janine Iannarelli is selling for a Russian client has leather seats, wood paneling, a satellite phone and can fly nonstop from Tokyo to Los Angeles. The price has dropped $3 million since September and is still falling.Iannarelli today is hawking the 10-year-old Bombardier Global 5000 for $14.5 million but recommends that her client cut the price further as the market for large-cabin business jets keeps weakening. A new …read more
Source: Trickle-Down Crash? Trophy Assets Suddenly Tanking
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Martin Senn, the former CEO of Zurich Insurance Group, took his own life on Friday, just months after leaving the company. …read more
Source: Second Zurich Insurance executive commits suicide
By Sprott Money
Posted with permission and written by SGT Report (CLICK FOR ORIGINAL)
David Morgan of The Morgan Report, an icon in the silver sector, returns to SGT Report to discuss the future of the US Dollar and the transfer of physical gold from West to East. More specifically, the transfer of gold and silver away from the Comex and the City of London’s paper markets, to Chinese PHYSICAL precious metal markets like the Shanghai Gold Exchange, Shanghai Futures Exchange and the ABX.
It’s becoming very clear that a sea change is underway as China hoards PHYSICAL silver at the Shanghai Gold Exchange, while openly encouraging Chinese citizens to acquire physical silver and gold as a way to protect wealth. It’s a paradigm shift of epic proportion, away from paper promises and into PHYSICAL metal. David Morgan says,
Back roughly a decade or so ago, China was exporting roughly 100 million ounces of silver per year – exporting out of China. And then…it was roughly six years or so ago they started becoming a net importer of…a hundred million [ounces]. So that’s a 200-million ounce swing.
According to Steve St. Angelo from SRS Rocco Report, in just the past several weeks the Shanghai Futures Exchange’s PHYSICAL silver stocks have increased from 54.7 million ounces to 60.6 million ounces, a figure that most certainly must leave officials at the Comex filled with envy, if not drowning in outright fear.
In this wide-ranging conversation, Sean from SGT Report and David also discuss Clif High’s Web bot project. Originally developed in 1997 to predict stock market trends, the Web bots crawl the World Wide Web in search of speech markers, chatter and other specific data which can often predict future events. For some time now, the Web bot data has been predicting an explosion in the price of silver, with some of the precious metals language indicating that silver might one day achieve a 1 to 1 parity with gold as the USD finally meets its inevitable demise as the world’s reserve currency.
Morgan says that silver is one precious metal that the Bankers fear. And though a silver to gold ratio of 1 to 1 is a very heady prediction, Morgan says it’s actually possible given silver’s extreme rarity, history and widespread use as an industrial metal.
“I think it’s accurate… What people don’t seem to realize about silver in general, for my generation or perhaps people slightly older than me, was that…in 1965 we were issued slugs. But through 1968, you could actually take a silver certificate to the Treasury and get silver for it. So they were circulating 90% [silver] coins in the United States, until and through 1964. But it was illegal to own gold until 1973. So you had this gap between say, ’65 and ’73, where really all you …read more
Source: David Morgan on the Dollar Demise: Silver Moves to China
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Source: Lufthansa to halt flights to Venezuela
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By GoldCore
Japanese Prime Minister Shinzo Abe warned his Group of Seven counterparts on Friday that the world may on the brink of a global financial crisis on the scale of Lehman Brothers.
The Japanese Prime Minister presented data yesterday at the G7 summit he is hosting, showing that commodities prices have fallen 55 percent since 2014, the same margin they fell during the global financial crisis, interpreting this as “warning of the re-emergence of a Lehman-scale crisis”.
The Japanese Prime Minister Shinzo Abe failed in his attempt to have the G7 leaders warn of the risk of a global economic crisis in a communique issued as their summit wrapped up today in Japan.
The final statement failed to address the scale of the financial crisis facing the world today and instead gave the impression that the worst is over with somewhat Orwellian language which declared that G-7 countries “have strengthened the resilience of our economies in order to avoid falling into another crisis.”
The communique gives the impression that there is little risk due to strengthened, resilient economies when the truth is that there are significant risks facing the global financial system and the global economy. Some of which include:
• The global economy remains vulnerable to recessions and new debt crises. There are fragile recoveries in the Eurozone, UK and U.S. while Japan remains in a recession
• Financial and banking systems remains vulnerable as seen in the very sharp falls in bank shares in recent weeks. Spanish, Italian, Greek and German banks have seen sell offs
• Geopolitical risk in the Middle East (Syria, Saudi, Iran etc.), increasing tensions amongst Russia, China and western powers and the increasing spectre of terrorism and war
• The Eurozone crisis is far from resolved and there is the risk of debt crises in China, the U.S., the Eurozone and indeed the UK
• BREXIT causes a short term risk but the real risk is the poor financial fundamentals of the UK economy – total debt to GDP ratio (public and private) is over 450% and completely unsustainable.
Japan had pressed G-7 leaders to note “the risk of the global economy exceeding the normal economic cycle and falling into a crisis if we did not take appropriate policy responses in a timely manner.” However, leaders again failed to take leadership and opted for spin and again lulling their electorates into a false sense of security about the financial and economic outlook.
Rather than doing the responsible thing in this regard, there appears to have been an attempt to focus on BREXIT and to scare UK voters into not voting for a UK exit from the EU. German Chancellor Angela Merkel went as far as to say that BREXIT had not even been discussed but that there was a consensus that they wanted the UK to stay in the EU.
Yet, a 32-page declaration putatively from the G7 leaders declared that “A UK exit from the EU would reverse …read more
Source: Global Financial Crisis Coming – Japan Warns of “Lehman-Scale” Crisis At G7
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