Category Archives: Politics

Chinese Stop Paying Mortgages as Real Estate Crisis Spreads

Chinese homebuyers are refusing to pay their mortgages in a boycott that’s spreading across the country. Many fear the homes they’re paying for will never be finished.

Now, suppliers to builders are also defaulting on loans.


Get the blog before anyone else…subscribe!


From ABC News Australia:

A fast-growing mortgage boycott across dozens of cities in China has prompted some property suppliers to cease their bank loan repayments, raising fears the escalating situation could trigger a further downward spiral in the sector and even threaten the country’s financial stability. 

Hundreds of landscapers, sculpture-makers and construction companies have expressed their anger that they have been bled dry because some debt-saddled developers did not pay their bills while they continued to service or help build apartments, Chinese media Caixin reported.


Chinese usually buy homes and start making payments before they’re complete.

The boycott has spread to 90 cities in mere weeks.

The Chinese government is censoring reports on the boycott, per Bloomberg. So the situation inside China may be even worse than reported.

A real estate meltdown is a catastrophe for the average Chinese saver. Chinese put 70% of their wealth in real estate, compared to 35% in the US.

The property sector accounts for about 25% of GDP. China’s GDP growth has flatlined as the sector sputters.

And it gets worse. Chinese banks have lent huge sums to property developers.

As developers default, bank runs are spreading across China. Government thugs have beaten protesters desperately trying to recover their life’s savings.

Amid a bleak economy and constant COVID lockdowns, workers are struggling. Youth unemployment has spiked, hitting over 19% last month.

Consider the picture for the average Chinese person: most of your savings are tied up in an apartment that will never be completed, the rest is in a bank that’s insolvent, and your only child can’t find work.

Revolution might start to sound good.

In the US, we know that a property crisis fueled by heavy debt can spread quickly. Huge liabilities pop up at different institutions unpredictably.

This undermines confidence in the entire financial system. When that happens, you get a financial crisis.

That’s what China is facing today.

At stake is the legitimacy of the Chinese Communist Party. Officials have staked their power on offering ever-increasing living standards.

Those days may be over.

I can only hope that Chinese citizens prevail and oust a government that has brutalized them for generations.

More on China:

Mass Protests in China as Bank Runs Continue

Will Evergrande Spark a Global Financial Crisis?

China Is Killing its Tech Industry

Get the blog before anyone else…subscribe!

If you found this post interesting, please share it on Twitter/Reddit/etc. This helps more people find the blog! 

Save Money on Stuff I Use:

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

Misfits Market

I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $15 on your first order. 

Photo: Unfinished Chinese apartment buildings being demolished in Kunming, China

Former Congressman Arrested for Insider Trading

Former Congressman Stephen Buyer was arrested today for insider trading. From Politico:

Federal authorities filed criminal and civil insider trading charges against former Rep. Stephen Buyer in U.S. court in Manhattan on Monday, alleging that the Indiana Republican used information gleaned from a golf outing with a T-Mobile executive to purchase securities before the company’s planned acquisition of Sprint.

Buyer was arrested on Monday, said U.S. Attorney for the Southern District of New York Damian Williams at a press conference.


Get the blog before anyone else…subscribe!


Buyer also made suspect trades in at least one other company. His trades made him over $300,000.

He may have even used his mistress to hide the trades:

The SEC’s complaint claims that Buyer netted roughly $330,000 from the transactions, which he spread across multiple accounts belonging to associates and family members, as well as an unidentified friend with whom he had allegedly engaged in a romantic relationship.

I was put in mind of a great scene from The Wolf of Wall Street. Leonardo DiCaprio realizes his elegant Swiss banker is telling him to hide his money under someone else’s name:

Politicians trading on inside information is nothing new. Congressional representatives beat the market on average, despite many having no background in investing.

House Speaker Nancy Pelosi has been particularly successful. Her performance is 6th best out of 435 members of Congress.

I guess power has its perks.

The public will not trust markets like this. If the powerful use inside information to get ahead, the average person will conclude the game is rigged and walk away.

This means companies won’t get the capital they need. And savers won’t be able to build wealth.

These crooked politicians also undermine trust in government. If you’re profiting from your office, you’re not doing the people’s business.

High government officials and their families should keep their assets in a blind trust. That way, they have no way of using inside information for profit.

I hope these prosecutions start hitting a much higher level. There’s plenty of opportunity here for an ambitious prosecutor to make his career by taking one of these major pols down.

What do you think of politicians self-dealing? Leave a comment at the bottom and let me know!

More on markets:

Wall Street Banks Turn on Each Other as Federal Probe Looms

AMC Fails to Deliver Hit 9.7 Million

Shorts Having Their Worst Month Since January 2021

Get the blog before anyone else…subscribe!

If you found this post interesting, please share it on Twitter/Reddit/etc. This helps more people find the blog! 

Save Money on Stuff I Use:

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

Misfits Market

I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $15 on your first order.

Photo: Former Congressman Stephen Buyer

Mass Protests in China as Bank Runs Continue

Major news out of China as over 1,000 protestors in Zhengzhou demanded their savings back:


Get the blog before anyone else…subscribe!


There are runs on several Chinese banks. The depositors, desperate not to lose their life’s savings, are taking great risk to speak out.

From the Indian Express:

In a rare large protest in China, over one thousand angry bank depositors, who have been protesting for access to their frozen funds, faced off with the police in Henan province leading to a violent clampdown Sunday.

Depositors of four rural banks in this central province have not been able to withdraw their funds since April. Sporadic protests have been going on since May.

Many smaller Chinese banks promised high interest rates to attract deposits. They advertised those rates on platforms run by Chinese tech giants like Baidu and JD.

Now, these small banks are finding themselves unable to pay those high rates. Worse yet, some banks have been infiltrated by criminals who are siphoning money out:

In the present case it is being alleged that these banks attracted deposits by offering attractive terms and high interest rates. A report in the South China Morning Post in May said that while Bank of China offers 2.75% a year interest on five-year deposits, the found banks in question were giving around 4.5% a year on their deposit products through third-party platforms.

Also, a statement by the Henan police on July 10 said that a criminal group had gradually taken control of several rural banks and was moving out funds.

Behind the peril facing Chinese banks is a weak economy. Intense COVID lockdowns this year have hammered economic activity.

An overheated property market is also crumbling. This has triggered defaults at major property developers, including Evergrande.

Something interesting happens when people see depositors struggling to get their money out. They start wondering about their own bank.

This is how a contagion could spread through the Chinese banking system. Cue It’s a Wonderful Life, without the happy ending.

The Chinese government’s violent repression of small savers in Zhengzhou may be just the beginning.

China is in a sensitive period. The 20th Party Congress, enormously important to the Communist elite, happens in November.

At that meeting, Xi hopes to secure a third term in office and effectively become leader for life. He and his underlings are likely to repress any “disturbance” during this time.

Already, China’s massive surveillance apparatus is being turned on these small savers.

Zhengzhou protesters have had their “health codes” turned off. Without the green QR code on their phones, they can go nowhere and do nothing.

The health code system was created to stem COVID. Predictably, it’s now being turned against dissidents.

I’m not a particularly religious man, but this Orwellian act reminded me of a passage from the Bible:

It forced all the people, small and great, rich and poor, free and slave, to be given a stamped image on their right hands or their foreheads,

so that no one could buy or sell except one who had the stamped image of the beast’s name or the number that stood for its name.

Revelation 13:16-17

I hope these decent, hardworking people will get their life’s savings back. I also hope we always resist this type of tyranny here at home.

What do you think is next in China? Leave a comment at the bottom and let me know.

More on China:

China’s Real Goal in Tech Crackdown: A Regimented, Obedient Society

How China’s Tech Industry Dies

China’s Tech Crackdown Means Economic Decline

Get the blog before anyone else…subscribe!

If you found this post interesting, please share it on Twitter/Reddit/etc. This helps more people find the blog! 

Save Money on Stuff I Use:

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

Misfits Market

I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $15 on your first order. 

Retirees Face $1.3 Billion Loss in Wall Street Fraud

It was supposed to be a safe investment.

In small offices across the country, brokers sold a security called L Bonds. The bonds were backed by life insurance policies and were supposed to provide a steady stream of income.

Many buyers were elderly. Now they’re facing catastrophic losses of up to $1.3 billion.

From a report that broke this morning in The Wall Street Journal:

What many of these retail investors didn’t know was that [bond issuer] GWG’s founders and a board director would each use the money to fund and launch their own startup ventures, then move them out of the investors’ reach, according to people familiar with the matter. The roughly 27,000 individuals who bought GWG’s unique debt securities, known as L Bonds, are now facing huge potential losses – for many, their retirement nest eggs.


Get the blog before anyone else…subscribe!


The original business buying life insurance policies quickly ran into trouble. So, bond issuer GWG Holdings cast about for another strategy.

It settled on backing speculative startups run by the company’s founders.

That would be reckless enough a thing to do with small savers’ money. But worse yet, the miscreants running GWG quickly moved those assets out of reach of the L Bond buyers.

Once the top executives had taken the assets, they drove GWG into bankruptcy.

The judge overseeing the court proceedings in Houston said he had never before seen a company give up control of everything it owns before seeking chapter 11 protection.

GWG appears to have operated like a Ponzi scheme. Of the $1.26 billion in L Bonds the company sold, nearly two-thirds went to paying off prior bonds.

Meanwhile, the top executives siphoned off tens of millions of dollars in dividends for themselves.

The SEC began investigating GWG as early as 2020. GWG didn’t disclose the investigation to its investors for a year.

In the mean time, it sold another $200 million in toxic L Bonds.

The law generally prohibits the SEC from disclosing investigations. I think it’s high time to change those laws.

Many elderly put their life’s savings into these bonds.

They should’ve known the company was under federal investigation. The government they pay taxes to should never have kept that a secret from them.

It doesn’t help for the SEC to blow the whistle once the money is already gone.

What do you think of this case and how the SEC handled it? Leave a comment at the bottom and let me know.

See you on Monday!

More on markets:

Hedge Fund Tiger Global Losing $136 Million a Day, Down 52%

Hedge Fund Giant D1 Loses $7 Billion in 2022

Shadowy Hedge Fund Cash Bankrolls Fight Against Regulation

Get the blog before anyone else…subscribe!

If you found this post interesting, please share it on Twitter/Reddit/etc. This helps more people find the blog! 

Save Money on Stuff I Use:

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

Misfits Market

I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $15 on your first order. 

Photo: SEC building seal

The Autonomous Weapons of the Future…and Present


A man walks in a remote field. From a place he cannot even see, a quiet drone takes off.

It’s headed his way.

This drone was made by Anduril Industries and this time, it just watched. But it can do a lot more.

These powerful craft can fly at 80 to 100 mph. By comparison, a typical DJI drone can reach about 40 miles per hour.

The Anduril drone is so fast and durable it can knock other drones out of the sky. The five year old defense startup bills itself as different from the big boys like General Dynamics or Northrop Grumman:

“Unlike most defence companies, we don’t wait for our customers to tell us what they need. We identify problems, privately fund R&D and sell finished products off the shelf.

David Goodrich, CEO Anduril Australia & Asia Pacific

Anduril is taking robot warfare beyond aerial drones. It recently bought a company called Dive Technologies, which makes autonomous submarines.

What if you had hundreds of even thousands of these autonomous subs patrolling your coast…or even attacking your enemy’s navy right in its own harbors? These relatively cheap and quick to produce vessels could change naval warfare forever.

Anduril’s drones rely on computer vision and AI to spot threats.

I’ve actually seen similar technology used by startups that sell security cameras to individuals. In those cases, the system flags a potential intruder for a human to review in real time.

This type of tech isn’t just being used abroad. It’s in our neighborhoods and also on our southern border, where it’s used to track immigration.

We’ve had numerous issues with policing of poor communities in America. It concerns me how a new generation of AI and robotics could be trained on those who already have the least.

As explosive as certain policing incidents have been, what will happen when the unarmed man is confronting a robot?

But like any new technology, Anduril’s capabilities can also be used for good. The startup is working with NATO forces in Poland, perhaps to prepare them for a Russian threat to Poland stemming from the Ukraine conflict.

I doubt we can put this genie back in the bottle. But I hope governments and citizens will work together to ensure these powerful technologies are used for good.

What do you think of Anduril’s tech and how it may be used? Leave a comment at the bottom and let me know.

More on tech:

Growing Veggies on Mars

How Tech Could Stop Wildfires

The Startup Pitch Checklist

If you found this post interesting, please share it on Twitter/Reddit/etc. This helps more people find the blog! 

Save Money on Stuff I Use:

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

Misfits Market

I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $15 on your first order. 

Citadel Loans Supported Chinese Surveillance

Never miss a post…subscribe!

Citadel made a major loan to a Chinese surveillance company in 2006. This shadowy company, which doesn’t even appear to have a website, has sold surveillance equipment to China’s Communist government.

From a new report from Crain’s Chicago Business:

…in 2006, Citadel loaned $110 million to China Security & Surveillance Technology. The company used the funds to acquire “10 of the 50 biggest surveillance companies in China.” That has opened it to charges that it “provid(ed) much of the surveillance infrastructure for the ruling Chinese Communist Party, including technology used to alert police of possible unsanctioned protests and internet cafes to track down democracy advocates and dissidents.”

Citadel CEO Ken Griffin doesn’t seem to find the loan problematic, according to a statement he released:

“In 2006, China Security & Surveillance Technology—a company listed on the New York Stock Exchange—was raising further capital to pursue growth opportunities. CS&ST was hoping to be selected as a key partner in providing security capabilities for the 2008 Beijing Summer Olympics and the 2010 Shanghai World’s Fair to ensure those events would be safe for everyone.

So what does this company do? It appears to have gone private since Citadel’s loan, but here’s how the company described itself in an SEC annual report it filed while a public company:

We are primarily engaged, through our indirect Chinese subsidiaries, in the manufacturing, distributing, installing and servicing of surveillance and safety products, systems and services, and developing surveillance and safety related software primarily for governmental entities and their affiliates, non-profit organizations, and commercial entities in China.

In other words, the company sells surveillance gear to the Chinese government, among others. Citadel’s involvement with this business is concerning, given China’s oppressive surveillance of its population.

Ethnic and religious minorities such as Uyghur Muslims are particularly hard hit. From The Guardian:


The US has accused China of committing genocide and crimes against humanity for running a mass detention, repression and sterilization campaign against Uyghurs and other mostly Muslim ethnic minorities. Countless reports have detailed detainees enduring torture, coerced abortions as well as re-education in what former secretary of state Mike Pompeo described as the “forced assimilation and eventual erasure” of Uyghurs by the Chinese government.


The surveillance system propped up by these often global companies serves to facilitate that genocide, argues Dolkun Isaa, president of the World Uyghur Congress advocacy group.


“The goal of these surveillance tactics is not only to instill fear in Uyghurs’ minds that every aspect of their behavior is monitored, but most importantly to single out Uyghurs for detention in the internment camp system,” Isaa said.


Griffin may be right that China Security & Surveillance Technology bid on an Olympic contract. But it appears that he and his company didn’t ask any questions about what else the company does.

Citadel’s “make money now, ask questions later” attitude has also made it a target of a federal investigation here in the US.

I only hope someone holds this company accountable.

More on markets:

Citadel Under Federal Investigation

Mass Firings at Citadel Right Before Federal Probe

NYSE Investigating Shopify Stock Plunge; Citadel Involved

Never miss a post…subscribe!

Photo: Citadel LLC CEO Kenneth Griffin

If you found this post interesting, please share it on Twitter/Reddit/etc. This helps more people find the blog! 

Save Money on Stuff I Use:

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been great so far.

More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me.

Every fruit and vegetable is super fresh and packed with flavor.

I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy!

I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Ken Griffin Making Hundreds of Millions in Campaign Contributions

Hi everyone! I got a late call time on the movie I’m shooting today, so I wound up having time to chat with you guys after all!

And I’ve got an interesting one for you today.

Billionaire hedge fund manager Kenneth Griffin has given hundreds of millions of dollars to political campaigns in recent years, Crain’s Chicago Business reports this morning. That includes $86 million in federal races in just the last 3 years.

$63 million of that came in 2020 alone. And if that weren’t enough, the Citadel LLC founder put $122 million into elections just in Illinois!

The money appears to be opening doors for Griffin and Citadel:

“When you’re making very large political contributions, it increases your access to sitting officeholders if they win,” says Peter Quist, deputy research director at OpenSecrets, the nonpartisan research group that tracks political spending nationally. Griffin’s increased spending “seems to indicate that he is being successful at being able to set up those meetings.”

In the last year, Citadel has gone from a large but under-the-radar fund to one of the most controversial companies in America. It is the subject of lawsuits, parodies, and lawsuits about parodies.

Perhaps Griffin is aiming his firehose of cash at politicians in order to protect his business from regulation.

Some call in influence peddling. The Russians call it “krysha,” or roof.

Either way, any professional investor like Griffin is going to want to see a return on that investment. The question is, why should anyone, especially a highly controversial billionaire, be allowed such disproportionate influence on our elections?

More on markets:

Citadel Can’t Beat the S&P 500, Despite High Fees

Melvin Capital Loses $1 Billion in 3 Weeks to Start 2022

Engineering an AMC Short Squeeze in Dark Pools

Photo: Citadel LLC CEO Kenneth Griffin

If you found this post interesting, please share it on Twitter/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been great so far.

More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me.

Every fruit and vegetable is super fresh and packed with flavor.

I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy!

I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Ken Griffin to Spend $300 Million to Defeat Governor

Major news today as Politico reports Citadel LLC CEO Kenneth Griffin may spend up to $300 million in the next Illinois selection. He is determined to unseat Democratic Governor J.B. Pritzker and push a slate of conservative candidates:

A source who spoke to Playbook about [political operative] Mike Z, also said Griffin has committed $150 million to the campaign, which would match what Pritzker spent in his first run for governor.

Other media reports have attributed “multiple sources” as saying Griffin is willing to spend as much as $300 million in next year’s election.

Griffin was also behind a shadowy group that defeated a ballot measure for a progressive state income tax last year. The group is now interviewing potential gubernatorial candidates in secrecy, per Politico.

I find the idea of a billionaire threatening to outspend a sitting governor single handedly while interviewing candidates in secret disturbing. This is not the type of proportional representation consistent with democracy.

I also find the idea of the state’s richest resident, with a net worth of $21 billion, secretly campaigning to stop a fairly modest 8% top tax rate unseemly. Griffin has benefited enormously from the state but seems unwilling to give back.

Wherever you turn, you seem to find Griffin and his firm. His hedge fund is conversing with Robinhood right before they limit trades, causing large losses for meme stock investors.

At the same time, he’s investing in Melvin Capital, which had short positions in those same stocks. Now he’s the plutocrat kingmaker in Illinois politics.

And he even picked up a copy of the Constitution for a cool $43 million. After all, Junior had to have it!

Griffin seems determined to throw his weight around wherever he can. The question is, how long are we going to take it?

More on markets:

Hedge Fund Paid Researcher to Write Misleading Reports on Seeking Alpha

How Solana Could Wipe Out Visa and MasterCard

Parody Site Sues Citadel to Stop Shutdown

If you found this post interesting, please share it on Twitter/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Jack Ciattarelli’s $10 Billion Budget Cut

New Jersey has an election tomorrow, pitting Democratic Governor Phil Murphy against Republican candidate Jack Ciattarelli.

While researching who to vote for, I came across a startling piece of information. From NJ.com:

Ciattarelli has vowed to cut $10 billion in spending from the budget. But he has not outlined what programs he’d slash.

That got me wondering: how big is the state budget? Would cutting $10 billion be a little, or a lot?

It turns out the total state budget is $46.4 billion. A $10 billion cut would mean slashing 22% of the state budget.

That sounds drastic. If Ciattarelli had clearly outlined wasteful spending we should eliminate, I’d feel a little better about his argument.

But the total lack of clarity on what state services will get the axe concerns me.

Would this mean no more buses, closing state parks, or the end of free community college? We have no way to know because the candidate hasn’t told us.

The question is, do we want to find out?

More on New Jersey:

Murphy’s Innovation Agenda

The Best Mexican Food Is In…New Jersey?

A Hidden Castle…In New Jersey?

Photo: “File:Jack Ciattarelli.jpg” by NJTVNews is licensed under CC BY 3.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Murphy’s Innovation Agenda

If you’re a fellow New Jerseyan, you know a big election is coming up. We have the constant barrage of commercials and junk mail to prove it.

Doing some research on the races today, I came across an interesting initiative Governor Phil Murphy recently passed. It’s called the NJ Innovation Evergreen Fund.

This fund provides tens of millions of dollars to venture firms to invest in New Jersey-based companies. I’d love to see our state dominate this field, especially since we’re the original home of the transistor!

I invest in tech startups and I can tell you this much: every one of them is hiring. They’re a great source of high quality jobs.

Murphy also passed free community college and a $1 billion school funding increase. This means our population will have better skills.

The transformative inventions and great companies of tomorrow will be created by those with the best skills. And I want New Jersey to be a big part of that.

One change I’d suggest to the fund would be to have it directly invest in companies. Its current structure is complicated and hard to understand.

If the fund simply hired people knowledgeable about tech and venture capital and came in as a co-investor on great New Jersey-based companies, it could help them scale much faster.

And if the fund did well, the state could make a huge profit.

I’m excited to see this novel approach by the Murphy administration. Let’s make the Menlo Park that matters most Menlo Park, NJ!

More on tech:

Why I Just Invested in Kippo, Where Gamers Find Love

What if Everyone on Earth Had Super Fast Internet for $1?

Why I Just Invested in Capbase, The Startup in a Box

Photo: “Governor Murphy, Lieutenant Governor Oliver, Senate President Sweeney and Speaker Coughlin hold a press conference on budget agreement in Trenton on June 30, 2019.Edwin J. Torres/NJ Governor’s Office.” by GovPhilMurphy is licensed under CC BY-NC 2.0

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order.