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Posts Tagged ‘Investment’

How the Rich Got Rich

Posted by Ram Kumar Shrestha on July 7, 2012

Comstock Images / Getty Images

COMSTOCK IMAGES / GETTY IMAGES

John D. Rockefeller, America’s first billionaire, said, “If your only goal is to become rich, you’ll never achieve it.”

Easy for him to say, but his point is well taken: If the only thing you care about is making money, no matter how much money you make it will never be enough.

Still, even though we all define and calculate success differently, most of us would like wealth to factor into our equations.

(MORESmartphone Shoppers Actually Increase In-Store Sales)

To find out how, check out the 400 Individual Tax Returns Reporting the Largest Adjusted Gross Incomes, an annual report issued by the IRS. Granted the IRS Statistics of Income division must be where fun goes to die, as my CPA friend Bill Zumwalt (who forwarded me the report) says. But if you want to get rich, there’s interesting data buried in all the charts and tables.

(The latest report is for 2009, which to you and me was a long time ago but to the government is really, really up to date.)

In 2009 it took $77.4 million in adjusted gross income to make the top 400. That might sound like a lot, but it’s down from $109.7 million in 2008 and significantly down from a record high of $138.8 million in 2007.

A mere $77.4 million only got you in, though; the average earnings were $202.4 million, a lot of money but well down from the $334.8 million average in 2007. Read the rest of this entry »

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‘Modern capitalism has reached the end of its rope’

Posted by Ram Kumar Shrestha on October 5, 2011

There is barely a corner of the globe that has not been touched by the current financial meltdown. But a senior sociology scholar at Yale University thinks the crisis is far wider than the economic crash – it is capitalism itself which is collapsing.

Immanuel Wallerstein explained his theory to RT.

“Modern capitalism has reached the end of its rope. It cannot survive as a system,” Wallerstein said. “And what we are seeing is the structural crisis of the system. The structural crisis goes on for a long time. It really started more or less in the 1970s and will go on for another 20, 30, 40 years. It is not a crisis of a year or of a short moment, it is the major structural unfolding of a system.  And we are in transition to another system and, in fact, the real political struggle that is going on in the world that most people refuse to recognize is not about capitalism – should we have or should we not have it – but about what should replace it.” Read the rest of this entry »

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Medvedev orders deployment of weapons on Kuril Islands

Posted by Ram Kumar Shrestha on February 11, 2011

President Medvedev has ordered the deployment of weaponry on the Kuril Islands that could be sufficient to guarantee security of the region.

The order comes as a reaction to Tokyo’s recently reiterated claims over the Pacific Islands and prior to Japan’s Foreign Minister visit to Moscow.

On Wednesday, during a meeting with the ministers of Regional Development and Defense, Medvedev said that “the additional weapons to be deployed there must be sufficient and modern in order to ensure the security of the islands as an integral part of Russia,” reports Interfax. The president told the military chief, Anatoly Serdyukov, to control the issue personally and make sure the weaponry is delivered. The Russian Defense Ministry said the deployment program will be drawn up before the end of the month.

Medvedev underlined that Russia will keep strengthening its presence on the islands because of their strategic importance. He reiterated that the Kurils are an integral part of Russia and are under its sovereignty. At the same time, Moscow wants to maintain good relations with neighbors, as long as they understand the islands’ priority position in the region.

“Undoubtedly, we want to expand good relations with all our neighbors, including co-operation on a number of issues on the islands, Medvedev said. “We are inviting everyone who doesn’t find such co-operation insulting to take part,”he added. Read the rest of this entry »

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