The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble, and Bust
Robert Frank - 2011
Starting in the early 1980s the top one percent (1%) broke away from the rest of us to become the most unstable force in the economy. An elite that had once been the flat line on the American income charts - models of financial propriety - suddenly set off on a wild ride of economic binges. Not only do they control more than a third of the country’s wealth, their increasing vulnerability to the booms and busts of the stock market wreak havoc on our consumer economy, financial markets, communities, employment opportunities, and government finances. Robert Frank’s insightful analysis provides the disturbing big picture of high-beta wealth. His vivid storytelling brings you inside the mortgaged mansions, blown-up balance sheets, repossessed Bentleys and Gulfstreams, and wrecked lives and relationships: • How one couple frittered away a fortune trying to build America’s biggest house —90,000 square feet with 23 full bathrooms, a 6,000 square foot master suite with a bed on a rotating platform—only to be forced to put it on the market because “we really need the money”. • Repo men who are now the scavengers of the wealthy, picking up private jets, helicopters, yachts and racehorses – the shiny remains of a decade of conspicuous consumption financed with debt, asset bubbles, “liquidity events,” and soaring stock prices. • How “big money ruins everything” for communities such as Aspen, Colorado whose over-reliance on the rich created a stratified social scene of velvet ropes and A-lists and crises in employment opportunities, housing, and tax revenues. • Why California’s worst budget crisis in history is due in large part to reliance on the volatile incomes of the state’s tech tycoons. • The bitter divorce of a couple who just a few years ago made the Forbes 400 list of the richest people, the firing of their enormous household staff of 110, and how one former spouse learned the marvels of shopping at Marshalls, filling your own gas tank, and flying commercial. Robert Frank’s stories and analysis brilliantly show that the emergence of the high-beta rich is not just a high-class problem for the rich. High-beta wealth has national consequences: America’s dependence on the rich + great volatility among the rich = a more volatile America. Cycles of wealth are now much faster and more extreme. The rich are a new “Potemkin Plutocracy” and the important lessons and consequences are brought to light of day in this engrossing book. high-beta rich (hi be’ta rich) 1. a newly discovered personality type of the America upper class prone to wild swings in wealth. 2. the winners (and occasional losers) in an economy that creates wealth from financial markets, asset bubbles and deals. 3. derived from the Wall Street term “high-beta,” meaning highly volatile or prone to booms and busts. 4. an elite that’s capable of wreaking havoc on communities, jobs, government finances, and the consumer economy. 5. a new Potemkin plutocracy that hides a mountain of debt behind the image of success, and is one crisis away from losing their mansions, private jets and yachts.From the Hardcover edition.
Bonsai
Peter Warren - 2014
Now DK brings this ancient practice into the 21st century, explaining how to grow and care for bonsai trees with a clear step-by-step approach.Offering easy-to-follow advice and simple photography, Bonsai demystifies the art of bonsai with sequences covering the traditional styles of Chokkan, Moyogi, Shakan, and Kengai, as well as deadwood bonsai styles such as Ishizuki, Yose Uye, and Sharimiki.For bonsai enthusiasts in search of fresh ideas, innovative techniques, and new ways to display their living art, Bonsai is the must-have book of the season.
The Truth Machine: The Blockchain and the Future of Everything
Michael J. Casey - 2018
The Truth Machine is the best book so far on what has happened and what may come along. It demands the attention of anyone concerned with our economic future." --Lawrence H. Summers, Charles W. Eliot University Professor and President Emeritus at Harvard, Former Treasury SecretaryFrom Michael J. Casey and Paul Vigna, the authors of The Age of Cryptocurrency, comes the definitive work on the Internet's Next Big Thing: The Blockchain.Big banks have grown bigger and more entrenched. Privacy exists only until the next hack. Credit card fraud is a fact of life. Many of the "legacy systems" once designed to make our lives easier and our economy more efficient are no longer up to the task. Yet there is a way past all this--a new kind of operating system with the potential to revolutionize vast swaths of our economy: the blockchain.In The Truth Machine, Michael J. Casey and Paul Vigna demystify the blockchain and explain why it can restore personal control over our data, assets, and identities; grant billions of excluded people access to the global economy; and shift the balance of power to revive society's faith in itself. They reveal the disruption it promises for industries including finance, tech, legal, and shipping.Casey and Vigna expose the challenge of replacing trusted (and not-so-trusted) institutions on which we've relied for centuries with a radical model that bypasses them. The Truth Machine reveals the empowerment possible when self-interested middlemen give way to the transparency of the blockchain, while highlighting the job losses, assertion of special interests, and threat to social cohesion that will accompany this shift. With the same balanced perspective they brought to The Age of Cryptocurrency, Casey and Vigna show why we all must care about the path that blockchain technology takes--moving humanity forward, not backward.
Creating Life-Like Animals in Polymer Clay
Katherine Dewey - 2000
With the friendly medium of polymer clay and the step-by-step instructions in this book, you can achieve the same magical results! Inside, Katherine leads you through then utterly charming projects, such as a sweet little bluebird, a basset hound and a white-tailed fawn. And that's just the start! The "Making Changes" chapter will help you create your own original animal creations by changing poses, making realistic bases, and even modeling your animals to look like bronze, fade and other materials.
The Scandal of Money: Why Wall Street Recovers but the Economy Never Does
George Gilder - 2016
George Gilder shows that money is time, and time is real. He is our best guide to our most fundamental economic problem."
--Peter Thiel, founder of PayPal and Palantir Technologies
"Thirty-five years ago, George Gilder wrote Wealth and Poverty, the bible of the Reagan Revolution. With The Scandal of Money he may have written the road map to the next big boom."
--Arthur B. Laffer, coauthor of the New York Times bestseller An Inquiry into the Nature and Causes of the Wealth of States
"Gilder pushes us to think about the government monopoly on money and makes a strong case against it. If you believe in economic freedom, you should read this book."
--Senator Jim DeMint, president of The Heritage Foundation
As famed economist and New York Times bestselling author George Gilder points out, “despite multi-billion dollar stimulus packages and near-zero interest rates, Wall Street recovers but the economy never does.” In his groundbreaking new book,
The Scandal of Money,
Gilder unveils a radical new explanation for our economic woes. Gilder also exposes the corruption of the Federal Reserve, Washington power-brokers, and Wall Street’s “too-big-to-fail” megabanks, detailing how a small cabal of elites have manipulated currencies and crises to stifle economic growth and crush the middle class. Gilder spares no one in his devastating attack on politicians’ economic policies. He claims that the Democrats will steer us to ruin – but points out that Republicans are also woefully misguided on how to salvage our economic future. With all major polls showing that voters rank the economy as one of the top three “most important problems” facing the nation, Gilder’s myth-busting, paradigm-shifting recipe for economic growth could not come at a more critical time. In
The Scandal of Money
, the reader will learn: Who is to blame for the economic crippling of America How the new titans of Wall Street value volatility over profitability Why China is winning and we are losing Who the real 1% is and how they are crushing the middle class The hidden dangers of a cashless society What Republicans need to do to win the economic debate—and what the Democrats are doing to make things worse
Gambling with Other People’s Money: How Perverse Incentives Caused the Financial Crisis
Russ Roberts - 2019
Russ Roberts argues that the true underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people’s money. The author warns that despite the passage of Dodd-Frank, it is widely believed that we have done nothing to eliminate ‘Too Big to Fail.’ That perception allows the largest financial institutions to continue to gamble with taxpayer money.
The Enlightened Bracketologist: The Final Four of Everything
Mark Reiter - 2007
Will a perennial favorite like Duke win? Or will it be a dark horse like Gonzaga? The phenomenon known as March Madness galvanizes a nation of viewers as few other sports events can. The reason? Bracketology. America eagerly watches as 64 teams become 32, then 16, then 8, then 4, then 2, and finally #1. Now it's time to use the same rigorous method for everything that really matters in culture, people, history, the arts and more. In The Enlightened Bracketologist the editors have organized the world's most haunting and maddeningly subjective questions into a scheme of binary pairings that finally reveal what is truly the best in its class: La Tache or Chateau Latour? (1) Barry Bonds or Terrell Owens? (2) "Vissi d'arte" or "Dove Sono"? (3) OJ verdict or JFK assassination? (4) "Top of the world, Ma" or "Nobody's perfect"? (5) Two by two, The Enlightened Bracketologist pits our cultural mainstays against each other; only the finest survive. Every double-page spread of this book will contain a series of brackets compiled by experts and celebrities, with text call-outs that highlight the reason why one competitor moves on and another doesn't. Already committed are Elvis Costello on popular songs; David Bouley on cookbooks; Leon Fleisher on piano music; Reneé Fleming on opera arias; Henry Beard on French phrases; Joseph Ward on wine.
Shoemaker: Reebok and the Untold Story of a Lancashire Family Who Changed the World
Joe Foster - 2020
Since the late 19th century, the Foster family had been hand-making running shoes, supplying the likes of Eric Liddell and Harold Abrahams - later immortalised in the film
Chariots of Fire
- as well as providing boots to most Football League clubs. But a family feud between Foster's father and uncle about the direction of their business led to Joe and his brother Jeff setting up a new company, inspired by the success of Adidas and Puma, and so Reebok was born. At first, money was so short that Joe and his wife had to live in their rundown factory, while the machinery that made the shoes was placed around the edge of the floor, because it was so weak it could have collapsed if they'd been positioned in the middle. But, from this inauspicious start, a major new player in the sports equipment field began to emerge, inspired by Joe's marketing vision. By the 1980s, Reebok had become a global phenomenon, when they were the first to latch onto the potential of the aerobics craze inspired by Jane Fonda. Soon, Reeboks were being seen on Hollywood red carpets and even in the film
Aliens
, where Sigourney Weaver wore a pair of Reebok Alien Stompers. Like the international bestseller Shoe Dog, by Nike's Phil Knight, Shoemaker is a powerful tale of triumph against all the odds, revealing the challenges and sacrifices that go into creating a world-beating brand; it is also the story of how a small local business can transform itself, with the right products and the right vision, into something much, much bigger.
Linear Algebra With Applications
Steven J. Leon - 1980
Each chapter contains integrated worked examples and chapter tests. This edition has the ancillary ATLAST computer exercise guide and new MATLAB and Maple guides.
Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World
Don Tapscott - 2016
But it is much more than that, too. It is a public ledger to which everyone has access, but which no single person controls. It allows for companies and individuals to collaborate with an unprecedented degree of trust and transparency. It is cryptographically secure, but fundamentally open. And soon it will be everywhere.In Blockchain Revolution, Don and Alex Tapscott reveal how this game-changing technology will shape the future of the world economy, dramatically improving everything from healthcare records to online voting, and from insurance claims to artist royalty payments. Brilliantly researched and highly accessible, this is the essential text on the next major paradigm shift. Read it, or be left behind.
Tiny Blunders/Big Disasters: Thirty-Nine Tiny Mistakes That Changed the World Forever (Revised Edition)
Jared Knott - 2020
World History
How to Retire Happy: The 12 Most Important Decisions You Must Make Before You Retire
Stan Hinden - 2000
Stan was a "Washington Post" financial reporter for 20 years, and after he retired, he wrote the "Post"'s 'Retirement Journal' column for which he was nominated for a Pulitzer Prize. What I like about Stan's book is that it combines good financial planning information with his story about his own retirement. He's candid about the mistakes he made and how he'd do things differently with the benefit of hindsight." --Steve Vernon, columnist, CBSMoneyWatch.com"Everyone in the workforce today should read this book!" --Horace B. Deets, former Executive Director, AARPAward-winning "Washington Post" retirement columnist Stan Hinden's bestselling "How to Retire Happy" helps you decide if you can retire now, or whether you have to stay on the job for a few more years.This trusted guide has been fully updated to address the stomachchurning issues created by financial market volatility and the economic recession.Will you have enough money for health care? Do you need--and can you afford--a longterm care policy? How much income can your savings produce?The third edition of "How to Retire Happy" provides answers to these questions--plus all-new information about: A new menu of Medigap insurance policies New strategies for maximizing Social Security income Making your money last through a long retirementApply Hinden's reliable, easy-to-understand advice and experience a happy, healthful retirement for years and years to come.
The Indispensable Milton Friedman: Essays on Politics and Economics
Milton Friedman - 2012
His writings and theories on everything from capitalism and freedom to deregulation and welfare have inspired movements, influenced government policies, and changed the course of America’s economic history.Now, acclaimed Friedman biographer Dr. Lanny Ebenstein brings together twenty of Friedman’s greatest essays in his new book, The Indispensable Milton Friedman: Essays on Politics and Economics. The only collection of Friedman’s writings to span his entire career, The Indispensable Milton Friedman: Essays on Politics and Economics features some of Friedman’s never-before-republished writings as well as the best and most timeless of his works.These exceptional essays not only illuminate the progression of Friedman’s thought, but explain how America might overcome some of its most difficult challenges. Broken into two sections, politics and economics, The Indispensable Milton Friedman shows how we can ultimately turn America around, and is more necessary than ever during this critical election year and time of economic uncertainty.
The Tao Of Poker: 285 Rules to Transform Your Game and Your Life
Larry W. Phillips - 2003
In The Tao of Poker, prize-winning poker player Larry Phillips offers more than 280 rules to bring you to new levels of personal achievement, just when and where you need them most.Here are some of The Tao of Poker’s rules for success:Take the long viewOnce you commit to a hand, play it strongDon’t throw in good money after badIf you think you’re beat, get outTry out these rules and watch your game, and your life, improve. Now you can be a winner at home, at work, and at the casino - wherever the stakes for success are high!