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13 Good Reasons Why You Should Become a Billionaire
Having a billion dollars would be pretty cool. Everyone knows that.But why exactly? The mansions, exotic vacations and luxury cars are obvious, but there are TONS of other awesome perks that come with...
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The Departure Of Tom Albanese Marks The End Of The Decade That Changed Mining
Shortly after Tom Albanese (pictured) took the top job at Rio Tinto in 2007, the mining giant emerged victorious in the bidding war for Alcan, a Canadian aluminium company.No one doubted that it was a...
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12 States Where Homeowners Are Deep Underwater On Their Mortgages
1.4 million borrowers moved to positive equity (where homeowners owe less on their mortgage than their home is worth) in the year through the end of Q3. This is according to CoreLogic's latest...
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HELP! What Are The "Big Stories" Of 2013?
Well, I'm headed off to Europe again for the 18-hour-a-day annual schmoozefest known as "Davos" (with a prior stop in Munich for DLD).The folks who run Davos, the World Economic Forum, have been kind...
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There Was Only One Lousy Thing About My Lufthansa Business Class Flight To...
I'm in Munich this morning, jet-lagged to all hell (so I apologize in advance for any giddiness).I came to do a panel at the DLD conference. The DLD folks were kind enough to airmail me over last...
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America Will Be Shocked When This Deficit Chart Comes True
When it comes to projecting the deficit (or anything, really) forecasters have a tendency to overweight what's happening right at the time they're making the forecast.So for example, during the late...
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Why The Coming Few Years Could See A Brutal Collapse For Gold
Earlier this week, Goldman Sachs came out with a note that said by 2018, gold would likely fall to $1200.A lot of people chuckled at the idea of a 2018 outlook, as they wondered what, exactly was the...
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Jim Cramer Got The Ultimate Vindication This Week
In August 2007, Jim Cramer got on TV and yelled "THEY KNOW NOTHING."It was an earthshaking rant, arguing that Wall Street was in horrible shape, and that the Fed was asleep at the wheel.We've long...
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This Fancy Hotel In Munich Has Complimentary Dog Bowls [PHOTO]
Everyone has descended on Munich for the DLD conference.The conference hotel, the Bayerischer Hof, is overwhelmed, and no rooms are ready. So we're all jet-lagged in the lobby with nothing to do but...
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The Simplest Stock Market Indicator In The World Continues To Work Amazingly
We've run this chart a million times, but we're not getting bored of it.The S&P 500 vs. weekly initial jobless claims continues to be a beautiful chart, as the two lines have moved in virtual...
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Why Paul Krugman Called The Debt Ceiling Wrong
The big news in the debt ceiling world is that the GOP basically folded on Friday.The story isn't over yet (things can always go wrong) but the party offered to hike the debt ceiling for three months,...
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How 15 Tech Millionaires And Billionaires Spend Their Fortunes
If you'd founded a tech company worth billions of dollars, what would you do with your cash?That's a high-class problem faced by the moguls on this list.Naturally, many of them buy expensive things,...
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What Wall Street Traders Are Reading This Weekend
Monday is a holiday in the US, but the preparation for the re-opening of markets has begun.Dave Lutz of Stifel, Nicolaus passes along some of the stories that are catching traders' eyes this weekend.We...
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The Great 'Mega-Bears' Chart Is Now Completely Dead
During the financial crisis and its aftermath, we were always really fond of looking at Doug Short's Mega-Bears charts, which overlayed the great crashes of 1929, the Nikkei, and the US crash, which...
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It Sounds Like Democrats Will Agree To The GOP's One Debt Ceiling Demand
The GOP said on Friday that it would agree to a 3-month debt ceiling hike.Although this is just a short-term hike, it pretty much takes it off the table, since this means that the next hike will come...
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Oil Guru Destroys All Of The Hype About America's Energy Boom
Not everyone believes the U.S. is capable of becoming energy independent thanks to its shale oil and gas reserves, as the International Energy Association suggested recently.The math just doesn't work...
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To Live Like A Middle Class Citizen In NYC, You Have To Make At Least $80,000
The New York Times set out to define what "middle class" means in Manhattan.It points out that Manhattan is one of the only places in the world where a housing project can sit next to a luxury...
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GOLDMAN: A Top Fed Official Has Endorsed Nominal GDP Targeting, And Nobody...
The hottest idea in monetary policy circles over the last couple of years has been the notion that the Fed could induce a better recovery by stating a target for Nominal GDP.The idea (which has been...
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Mohamed El-Erian's 'New Normal' Is Ending — America's Watershed Moment Is Near
In 2009, Mohamed El-Erian, CEO of PIMCO– the world's biggest bond fund manager – coined the term "new normal" to describe the period of economic malaise the U.S. would experience in the wake of the...
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President Barack Obama Has Officially Been Sworn In For A Second Term
President Barack Obama was officially sworn in for a second term in the White House Blue Room Sunday morning. The ceremony was short and sweet — Obama will repeat the oath publicly tomorrow during his...
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