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Wow, sounds like a restatement. If a public company did that they would be looking at not only some fines but also having to issue an entire new report and discuss the reasoning and nature of the misstatement, the auditor could face SEC penalties and possible litigation too.

I think the reason money is seen as wealth because it is what can used as a medium of exchange to get a variety of items. You can easily buy a vineyard if you have money, but its much much more difficult to say, take a vineyard and try to barter for a certain item you want, does that make sense? How easily can a vineyard be transferred, compare that to cash/gold, bank wire? As far as the apps, I agree with you that there is some speculation going on here, but that is part of the pricing and resource allocation process, its going to probably take a massive failure of one of these apps to correct the pricing they have IMO. Speculative bubbles would occur in free societies as late entrants arrive. In most cases though, If the companies don't provide anything of value to society, Surely they have to be producing or have the potential to produce something of value, and if not, in the medium/long term, the pricing would be corrected. Would you agree? On side note regarding apps, I think one key point you may be missing is these apps can produce revenue in multiple ways that most users don't really see. For example, the geo-tags on apps can be sold to companies that may want to advertise to someone near by. Market information and consumer data can be acquired through the geo-tags. These apps generate a ton of information that can be mined and sold. Not to mention, patented technology often comes with these too. An obvious example of this is Facebook, they don't charge customers, but produce revenue in MANY ways. A friend of mine from college started a company and they buy these apps in the early stages and then loads up the user base, monetizes them in various ways, and then sell them off. Most of them never charge the user a penny.

I noticed we dropped another .2 points on the month of Sept. I wonder how long they will continue to ignore this number.

We had one freshman in high school and it was awful. I don't think the teacher had an economics degree or anything remotely related, but it was typical capitalist bashing, your from a disadvantaged area so give up now, america should be like Europe, White Guilt ect. We never once hit basic principles like comparative advantage, opportunity costs, allocation of resources, ect.

Probably would need to hire a writer (I assume you all are very busy ), but one thing that I would enjoy seeing is putting some articles in text format (2-5 minute succinct reads, similar to the ones Yahoo has) and posting them with the ability to share on social media. Non-listeners are more likely to read them than listen to 20-50 minute videos, and I think its a good "baby step" into the site IMO.

It may be helpful to mail Mike directly. I recently upgraded my membership to silver and emailed him about replacing my current one, he go back with me pretty quickly.

Hi all, I wanted to ask the board their thoughts on how short is too short of a time to stay at a position without coming off as a "job hopper". I relocated to Houston Texas last August of 2014. I have been working with a firm here and have been very happy, received two raises and a promotion, and still enjoy my team here for the most part. I have some long term potential here, but I have came to the realization, that I am probably 2/3 years from going to the next promotion level here, and I have the ability to probably attain a 15-20% salary bump and even more responsibility, by exiting the firm I am currently at. I have always been told that 2 years is the minimum amount one should stay (I realize this is probably dogma), but I wanted to get some thoughts for you guys since most of the articles on the internet are trash. I'm more concerned about my long term reputation, as I wouldn't leave here before getting an offer elsewhere, but I have read that as I get older (I'm 3 years out of school in October), these things are looked at more and more. Thanks for any advice

Never really hear about this in the news, but I think many people are starting to leave Sweden/Europe because of this. Where will this stop? http://swedenreport.org/2015/06/02/goodbye-sweden/ http://www.thelocal.se/20140410/record-number-of-people-leave-

I care not to grow grapes in my yard as my skill set is better compensated for, and benefits society elsewhere. It really comes down to comparative advantage/opportunity cost. If industrial farming within this statist context is as bad as you say (which it may be, I'm not very knowledgeable on it), then, in a free society, we would probably find an alternative to that in leveraging the capital of the best business minds, most skilled farmers, and most available land, which would result in an extremely efficient farming system delivering the products society demands the most. The result would be a better system than the one we currently have. To suggest that in a free society we would all become farmers and spend 30-60 hours a week cultivating our food is inaccurate and against the above mentioned economic principles of opportunity cost and comparative advantage in my opinion. Not everyone should be a farmer, and society will thrive to a greater extent if people are able to use their skills outside of only farming. I understand this may come off as poisoning the well, but for me, to hear another Burg/Stein or whatever his name his, who attended a university, which has an annual cost that's more than the value of the house I grew up in, sit there and rant about how anyone who is obtaining financial security is naive, was frustrating. Take a trip to Lagos or Mumbai and watch how families compete for trash piles with wild dogs in hopes of food, and you just might start to understand why some people do have anxiety about going back to, or ever becoming impoverished. I understand the argument that society, in some ways becomes materialistic, but how can one objectively say that home grown grapes are a virtuous pleasure, but relaxing on a sailboat is not? They are both subjective luxuries based on preference. I agree we should all do whats is best for the world, but I think you would have to really lay down the basis that any type of commercial farming, as mentioned above in a free society, is bad for earth before making the claim its immoral.

"Stealing money from people under threat of force"-good "Telling people they will be eternally tortured if they don't comply"-good "Buying selling things voluntarily based on perceived mutual benefit from two or more people"-Bad Tell me more, while we are at it, lets audit the popes annual living expenses, this trip alone is around 5 million dollars from what I've read. The media is really loving this clown

I've read that buying gold in South Africa is extremely cheap, and you can often get it 10-20% less than "spot" price. I am going there for work in a month or two and was considering stocking up. Does anyone have experience buying metals/diamonds or other valuables outside the country for a discount and bringing them back? My worry is declaring it at customs as well

I have been using Apmex. SchiffGold has cheaper prices if you don't mind waiting 4-8 weeks I usually get bars since they are the cheapest, but then again the bigger the order, the more risk of it getting lost in the mail.

Its usually a good idea to keep a few grand in cash and silver/gold at your home, as well as a some gasoline stored and even bitcoin. Enough to get you out of town and out of the country if need be. Link your brokerage accounts to an offshore bank so if you ever sell off your equities, you can have the money wired out. Not sure if this will ever happen, but its always best to be ready, not to mention linking your brokerage account offshore allows you to get your money out as you get older if you ever want to leave

Government spent about 15% more than it brought in 2015, (collected about 17.5% of GDP, spent about 20%). Currently they are debt for about 6 years worth of tax revenue Based on that, they would have to increase taxes by about 15% to break even, meaning if you actually work, you're taxes would have to increase by around that much. How they plan to pay this off is either through massive inflation over the next 50 years or some how running a 10% surplus for 60 straight years to cover 6 years worth of revenue.

Are they not one in the same in that you have to increase the supply of said currency? China can't just change what Global Markets are valuing the USD/Yuan, all they can do is inflate the Yuan from my understanding

Can someone explain the difference between "currency devaluation" and hyperinflation. Maybe I'm just cynical, but it seems to be this is just another newspeak way of announcing the fact they are having a printing party in china.

Does anyone have a good side for global tax data? I am putting together some research on the amount of tax paid by the average citizen and its been difficult to find good information. I am putting together an analysis of incomes/cost of living/tax burden for the average person by country, and the tax piece is the last part I am working on. I will be posting my research here and probably be sending it to Mike/Stef when I'm done in case they are interested. (I'm attempting to validate my theory that the Scandinavian countries enjoy much less disposable income than the left makes it sound like)

I have an excel sheet I'm in the process of making, it compares median income/cost of living for all these countries. I want to account for taxes as well so I am not done with it, but it would appear that those Nordic countries, even with their 95% native population demographics, still lag behind the USSA (USA joke) in terms of real income. Once I take into account taxes (which are much higher in the Nordics), It will be able to show a stark difference in disposable income. (At least that's my theory) Anecdotally speaking, I've been to Stockholm and was amazed by the high prices of everything and small living spaces. I enjoyed my time there, but I can't imagine living there and paying that much of my income to taxes and high prices.

I would start and ask why he feels that he has the right to force people into jail if they decide to give people rides voluntarily. He will probably squirm around but hes really not going to be able to get around it. Look up common logical fallacies as well, and know how to recognize them. They are going to be lobbing them at you left and right I would also look up articles on the subject and dissect the debates that writers have made against it. You will be prepared for the arguments they will make, as well as giving you practice for spotting fallacies.

This one hurts.

I was considering the other day, if the European countries believe in socialism and "progress" as they like to call, why not bail as Greece? Is that not what they ask of people do to in their own countries when they become financially more solvent?

What type of people do you think apply to a company where they know they will be overpaid regardless of performance? What type of employees leave? What type of employees stay? Taking care of your employees is great, rewarding idiots isn't always as great.

Find public traded companies from these countries and buy put options on them or short them. A small fortune on greek stocks could have been made doing this with a few thousand dollars

Very helpful, the only issue I am worried about in buying too soon, is seeing a 10-30% reduction in its value 6-36 months after I buy it. At that point, we are talking about 30-90k in FMV loss. I know a drop is coming, its just a matter a when and the severity of it that creates the problem

Agreed, between than, the 1.4 trillion in student debt, the propped up equity markets and the strain on government as the workforce part. rate declines due to the sluggish economy and retirement of the boomers, I plan on waiting until the temp. bubble pops. My worry is that when the REAL collapse hits, I don't want to be landless.