Finance

Every year, roughly $1 trillion in "hot money" flows illegally out of developing and emerging economies due to crime, corruption, and tax evasion growing at an average rate of 6.5% annually (and at an 8.6% clip in Asia). China, Russia, Mexico and India lead the way as depicted in the following infographic.

There are very few people over the generations who have had ideas that are sufficiently original to materially alter the direction of civilization. Milton Friedman was one of those very few people. Below are his views on governments, free trade and drugs.

A significant rate hike would...adversely affect the country's GDP, stock markets, bonds, government revenue, U.S. denominated debt and the U.S. dollar itself. Because of that, I don't think we will see a significant rate hike. Let me explain.

Believe it or not, the keynote speaker at the recent International Economic Symposium was none other than the straight talking Gustavo Laframboise-Pierre, Global Director of Statistical Creation at the European Central Bank. What he had to say goes a long way in explaining how the word ‘truth’ has become nothing more than a hollow collection of 5 letters with no meaning.

Interesting things have certainly been happening in the underpinnings of global markets — things that either run counter to long-standing financial logic, or represent an unusual dislocation in the “normal” state of market affairs, or were once rare occurrences but have been happening with increasing frequency. Here’s a rundown.

When we see companies and individuals...become household names we have to wonder what it is that they did to get there...Take a look HERE at 10 of the best business decisions of all time, many of which have happened in the past decade or so.

The US Federal Reserve has been increasingly hinting that it would raise its policy rate at its next meeting, which is scheduled for December but their communications have been sloppy, erratic and contradictory. To get a sense of where the Fed might go a closer look at some of the key underlying economic forces, however, it is clear that there are 5 key reasons that the Fed is unlikely to raise rates anytime soon.

A video about how we arrived at this moment of poorly funded public services and widening economic inequality.

...According to Forbes, the following are the richest men and women in America. This list discusses something about each individual, how each one achieved his or her wealth, and some of the things these people have done with their massive amounts of wealth and status.

Having unrealistic expectations as to how you will get by in retirement is not the way to go. This article identified 4 false expectations and suggests 3 better ways to ensure a much more comfortable retirement instead.