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The New Chinese Millionaires

Bloomberg, as you probably know, is a rich source of online information. (See www.bloomberg.com). Since the eponymous Bloomberg organization now owns Business Week, which now is Bloomberg Business Week, the magazine continuously gets better and tilts more towards investments and economics.  The magazine is a rich source of information, too.  

The November 28-December 4 issues points out that China’s super-rich are buying there way into the U.S. and Canada at a rapid rate. Why would they want to do that?  The argument is that they want to educate their children in “developed countries.”  Allow me please to rephrase:  They want FREEDOM.   So, many Chinese millionaires have families living here, even if they individually spend considerable time there.  According to Bloomberg Business Week, a huge percentage of them try for the United States.

So, if you get weirded out about how the U.S. is in its decline, please think again. If this country is in such decline, why do those who can afford to want to come here?

The General Accounting Office

Senator Tom Coburn is a known maverick, no question. He’s from Oklahoma, where I live, and our state is kind of famous for mavericks. The wine and cheese is so much better in the nation’s capitol that Dr. Coburn waffled on his original campaign pledge to only serve – was it two terms or three? –  in Washington.  However, he decided later that the promise only applied to his time as a congressman and that it was OK to become a senator.  As I say, the air is clearer and richer in D.C.

This doesn’t mean that I’m against our senator and, in fact, in Bloomberg, he says he actually favors keeping the GAO (General Accounting Office) budget intact and free of cuts. I agree. The GAO may save $87 for every $1 spent on its annual budget.  My take is that we should increase the GAO budget. 

Have a sensational week, write to your congressman and senator and ask them to either leave the GAO budget as is, or, better, increase it. And check out Bloomberg Business Week.