29 June 2018
Question: According to Business Insider on MSN, what are 6 things people who are good with money always splurge on?
Slowing domestic demand puts Beijing to the test – Pg. 2
– China exports have remained strong this year despite the rhetoric, increasing 13% in the year to May against 8% growth in 2017
– But fixed-asset investment – a drier of China growth that includes spending on new buildings, machinery and infrastructure – grew at its slowest annual pace since at least 1995 in the first five months of this year. Retail sales rose at their slowest pace since 2003
– …Shanghai Composite has dropped 10% in June
– China’s leadership has committed to prioritizing risk control and growth quality over short-term stimulus, after increasingly shrill warnings from watchdogs such as the IMF and party leaders about the risks of rising debt and wasteful investment
Big deals drive M&A to $2.5tn high – Pg. 11
– Global dealmaking has reached $2.5tn in the first half of 2018, breaking the all-time high for the period and underscoring the intensity of mergers and acquisitions activity in spite of increasingly bitter geopolitical tensions
– The record-breaking pace of dealmaking stands in contrast to a looming trade war sparked by President Donald Trump of the US against China and renewed fears of political instability in the Eurozone, particularly in Italy and Spain, that have shaken markets
– Globally, companies signed 79 deals above $5bn, surpassing the previous year to date record set in 2007, and a record 35 deals above $10bn
Answer: (1) Products that earn you more money (Prof Note: The example is a computer and I acknowledge I spend a lot on IT equipment, including computers. Recently I have begun purchasing difficult-to-find data); (2) Services that save you time (Prof Note: This is only accurate if you have a revenue off-set for your time.); (3) High-value rewards cards (Prof Note: Guilty! The platinum AMEX is $500 a year BUT provides me access to lounge in Miami. It pays for itself through free meals that I would be purchasing in airport); (4) High-quality cookware and kitchen appliances (Prof Note: I am not really a “cooker” BUT my blenders for making crushed ice drinks on Nevis could chew up a 2 X 4); (5) Experiences (Prof Note: Absolutely); (6) A few select things that bring you pleasure (Prof Note: This is really individual and must be balanced)