Finance

If you’re under 30 the old playbook of “go to school, get a good job, work your way up the ladder” doesn’t apply anymore. Here's why and what to do about it.

In an unprecedented move that signals China’s growing global influence, Zimbabwe has announced that it will adopt the Chinese currency as legal tender as it seeks to increase trade with Beijing.

http://www.usdebtclock.org/ keeps running real time totals of estimated U.S. national debts and assets. Take a look! Links to debt clocks of other countries provided too.

Every year, Forbes analyzes the sports world to produce a list of the 50 most valuable sports teams in the world. This year’s list includes 20 NFL teams, 12 MLB teams, 10 NBA teams, 7 soccer teams, 1 NHL team, and 1 racing team (Formula One) worth, on average, $1.75 billion each, which is up 31% from 2014.

In 2011, the IRS introduced the Foreign Account Compliance Act, or FACTA to “minimize tax cheats” but in doing so FACTA is making banking - and life in general- painfully difficult for millions of American expats. The affects of FACTA are illustrated in the following infographic.

The American Dream--characterized by plentiful jobs offering living wages, security and opportunities to get ahead--is over....Piling on debt is not a solution; it's simply a politically expedient method to forestall the crisis, while guaranteeing the eventual repricing will be even more severe because the debt load is then so much larger. If you think otherwise, I strongly recommend that you reduce your dosage of Delusionol.

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.