Economic and Investment News Bits
- Forward Thinking Agriculture, based in Barcelona, Spain, is developing floating farms, which would be used for fishing and growing crops. These are built over water and have multiple levels of production. The floating farm will be enclosed and use solar power for electricity. The company believes one floating farm can produce 8.15 million kilos of vegetables each year. They would be built in areas where there are potential food shortages. (Source: The Daily Mail)
- “Chinese premier Xi Jinping understands exactly what needs to be done with the Chinese economy. One way to look at the current anticorruption effort is to see it as a way to demonstrate to deep-rooted crony capitalists that their time is at an end and that it’s time to figure out how to work in the new China toward which Xi is trying to forcefully pull the nation. The question is can he pull it off?” (Source: John Mauldin, A Great Leap Forward)
- Last week, the International Air Transport Association (IATA) announced that it expects the airline industry’s net income to grow to a record $29.3 billion this year, an increase of 80% from 2014. $5.6 trillion in new aircraft orders are anticipated over the next two decades.
- “I don’t think most investors fear volatility. In fact, I’ve never heard anyone say “The prospective return isn’t high enough to bear the volatility.” What they fear is the possibility of permanent loss,” (Source: Howard Marks).
- “This year, the big investing disparity is between growth and value, with the tilt strongly toward growth stocks, especially small companies. This suggests investors are optimistic and risk-embracing, as opposed to risk-averse,” (Source: Ariel Funds).
- Nine major American cities have solid overcast skies for more than 180 days a year. Besides the Pacific Northwest, cities with frequent cloudy weather are mainly near the Great Lakes. Seattle and Portland are at the top of the list, followed by Pittsburgh, Cleveland, Rochester, Columbus, Cincinnati, and Detroit.
Thought for the week
“The glory of gardening: hands in the dirt, head in the sun, heart with nature. To nurture a garden is to feed not just on the body, but the soul.”
Alfred Austin, English poet (1835-1913)
A Little Perspective
“How far will my salary go in another city?” This is a question that should go through every person’s mind as they contemplate a move. A person making $50,000 in Columbus would need to almost double their earnings to live in San Francisco, where the comparable salary is $93,000. Other comps: Nashville, $50,000; Raleigh, $52,000; Tucson, $54,000; Atlanta, $55,000; Denver, $60,000; Miami, $62,000; Chicago, $65,000; Seattle, $70,000; Boston, $76,000; Washington, $78,000; Honolulu, $97,000; New York (Manhattan), $123,000.
Chart of the Week (CLICK TO ENLARGE)
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