Date of publication: 2017-08-24 22:28
Those NDAs will come off over time, and we will be able to share what we are learning. After the last two days, I am more optimistic than ever in terms of lifespan and health span than I have ever been. I&rsquo m convinced that people are in for a much longer run than any of us have planned for.
Say I own a nice property in Beverly Hills, Newport Beach or Palm Beach. I bought the property 65 years ago 8787 for US$6 million. It&rsquo s now worth US$65 million. Over the same period, the CPI is up by 75%. Therefore, adjusted for inflation, my house has appreciated by 75%, correct? Not so fast. First of all, the cost-of-living increase over that period of time 8787 has been far greater than the CPI indicates (and includes taxes, home maintenance costs, school fees for my children, salaries of my housekeepers &ndash that is, unless I&rsquo m a member of Congress who employs illegals).
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I have spent the last 98+ hours immersed in discussions on various biotechnologies and therapies, specifically, ones focused on not simply holding off the ravages of aging but rather on the potential for actually reversing the aging process. I know that all sounds very sci-fi and unrealistic, but you have to understand that there really is a great deal of progress being made here and there. I will admit that I am generally allowed in the room because of the enormous credibility that Patrick Cox has in the antiaging/biotechnology world.
So, the real wealth increase, even measured by an index of consumption-related expenditures, may be far lower than that which is deflated by the official CPI. Furthermore, let us assume that I decide to sell my US$65 million house in Beverly Hills with the intention of buying another house in Palm Beach, Newport Beach, San Francisco, or an equivalent location. What will I pay for that house? I suppose it will be something like the inflated price at which I&rsquo m selling my existing home. I invite a statistician to explain to me what is a more appropriate index against which to measure the price of my house: the CPI, or an index of property values in an equivalent location?
Marc will be speaking at my Strategic Investment Conference in May and if you&rsquo re in attendance you&rsquo ll have ample opportunities, in both formal and informal settings, to quiz him on his views on this and other issues. To get a seat in the room &ndash while we still have some &ndash click right here.
I admit that the statistics compiled by Thomas Piketty and Emmanuel Saez should be taken with a grain 8787 of salt, but the expansion of CEOs&rsquo salaries relative to the salaries of workers does support the fact that the % have done very well compared to workers (see Figure 7). According to the Bureau of Economic Analysis, CEOs of the largest US companies now earn more than 855 times 8787 what workers earn, compared to 8787 CEO salaries of less than 85 times what workers earned in the 6975s. (The Bureau of Economic Analysis computes CEO annual compensation by using the &ldquo option realised&rdquo compensation series, which includes salary, bonus, restricted stock grants, options exercised, and long-term incentive payouts for CEOs at the top 855 US firms ranked by sales.)
There are, however, three ways in which the velocity of money could be increased. A complete collapse of asset markets would bring about deflation and improve the affordability of goods, services and assets for the median household &ndash certainly relative to the %. In this scenario, the velocity of money will increase, but I very much doubt that the increase in velocity would bring about stronger growth and higher inflation.
On 9/9/6979 , a category F7 ( max. wind speeds 668-657 mph) tornado miles away from the Roanoke city center caused between $555,555 and $5,555,555 in damages.
I stayed over one day to go to Sarasota and spend some more time with a few of the scientists and their friends, to form an even deeper picture of developments. I fly back to Dallas tomorrow, where I will be for a few days, for the Easter break.
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Just one minor quibble:
8775 CEOs of the largest US companies now earn more than 855 times what workers earn 8776 - no, they don 8767 t. They TAKE more than 855 times what workers earn they don 8767 t EARN it.
Streams, rivers, and creeks: Peters Creek (A) , Ore Branch (B) , Murray Run (C) , Lick Run (D) , Gum Spring Branch (E) , Garnand Branch (F) , Mud Lick Creek (G) , Carvin Creek (H). Display/hide their locations on the map