From Joe
Everything You Need to Know About Money is Now at your Fingertips
I've created a library of training material to teach you how money works so that you can make more money and protect it.
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Members of Heresy Financial University get all of this, and more. As a member you'll get access to every course in the library of training material, and you'll get automatic access to every future course I launch as well.
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News
Boston Faces $1 Billion Tax Deficit From Faltering Office Market
Tumbling market values for office buildings are poised to cost Boston more than $1 billion in tax revenue over the next five years, as the pitfalls of the pandemic and hybrid work continue to reverberate through city budgets. That’s according to a new analysis published Thursday from Tufts University’s Center for State Policy Analysis and the nonprofit Boston Policy Institute. The findings are based in part on a McKinsey & Co. estimate that office values will drop by 30% or more through the end of the decade. Boston has an overreliance on commercial property taxes.
Elizabeth Warren Pivots on Bitcoin, Honors Nakamoto With Flag Over Capitol
In an unexpected turn of events, Elizabeth Warren, the long-time adversary of Bitcoin on Capitol Hill, has seen the orange-tinted light and quite literally raised a flag to praise the work of Bitcoin’s anonymous creator, Satoshi Nakamoto, celebrating 15 years since the network launched. In participation of the Capitol Flag Program, Senator Warren’s office submitted a request to commemorate Nakamoto’s accomplishment of creating the first “truly inclusive financial system,” with the colors of the United States being flown above the Capitol on December 18, 2023 – a date known to Bitcoiners as HODL Day.
GDP is a Poor Measure of Economic Health
Gross domestic product (GDP) is the most common measure of national wealth and economic growth. Yet the layman—and even many businessmen and economists—is taken aback when mainstream commentators and professionals get very excited about changes to GDP, which seem to have little to no impact on real economic conditions. While GDP can sometimes reflect real economic conditions, this is often when conditions are very favorable or unfavorable and where other techniques would still give a better indication of economic conditions, how those conditions developed, and how they could be changed. First, GDP focuses exclusively on final consumption, ignoring Say’s law—one of the best concise English language statements I can think of—which states that production must occur before consumption.
Bezos Unloads Another $2 Billion of Amazon Stock in Latest Sale
Jeff Bezos has unloaded another 12 million shares of Amazon.com Inc. valued at $2 billion, bringing the total sold in the past week to more than $6 billion. He sold the latest tranche on Tuesday and Wednesday, according to a filing. The sales are part of an already disclosed plan to dispose of as many as 50 million shares of the company he founded. In total, he’s now sold about 36 million shares. Bezos hasn’t explained why he’s selling, but the timing of when he instituted the trading plan may provide a clue. He announced on Nov. 2 he was moving to Miami from the Seattle region and adopted a so-called 10(b)5-1 plan on Nov. 8.