Why is Dubai so wealthy?

Dubai as a city is not as wealthy as, let’s say New York or London. It seems very wealthy, because the city’s PR agency does a great job in marketing it as the wealthiest place. Abu Dhabi is actually the richest city in the world. Dubai has no oil left, only 2% of its GDP is based on oil. Everything else is trade, tourism, finance, entertainment and nowadays real estate and health care.

The native population of Dubai is so low in number that if the government distributed the wealth of the city, it would be enough to make everyone very rich. Despite being a wealthy city, Dubai is also in debt because during a real estate boom, the city borrowed loads of cash from banks and private funds.

Dubai is a perfect example of a well curated capitalism. Yes, there are many wealthy families, but their wealth is far less compared to those families in Abu Dhabi let’s say.

Since the local population of Dubai lives a good life, mostly because they are either supported by their rich relatives or government, the general scene of Dubai is wealthy.

The Ruler of Dubai is an amazing person and he is very progressive. He is not afraid to do things others would not even dare, hence his actions draw interest from foreign investors. When money pours business grows. Also, due to Dubai’s lenient financial regulations many foreign wealthy people prefer to invest here or simply park their money, similar to Switzerland.

Dubai has a potential to be a very rich city on a global scale, and I hope this happens in near future because it deserves it.

Anuncios

Billions on health remedies

As more and more Americans are starting to realize that conventional medicine does not hold the answers to their problems, their spending on natural health remedies is rising. In fact, a study that was recently released by the National Center for Health Statistics (NCHS) shows that Americans spend $30.2 billion on complementary health approaches each year. When you consider the fact that they spend $328.8 billion on out-of-pocket health expenditures overall, the significant portion of health-related spending occupied by alternative remedies becomes quite clear.

The study used data from the 2012 National Health Interview Survey, which was then weighted to come up with estimates that more accurately represent the nation’s population at large.

According to the researchers, one out of every five Americans over the age of 4 spent money on at least one complementary health approach. Some of the treatments that fall under this category include tai chi, massage therapy, homeopathic treatment, energy healing therapy, chiropractic manipulation and hypnosis.

Natural product supplements like fish oil, probiotics and digestive enzymes were more popular than visits to alternative health practitioners. This type of expense is not typically covered by health insurance, which means that families who have higher incomes tend to use them more often than those in lower income brackets.

Another interesting finding was that the $12.8 billion spent on natural product supplements alone in 2012 is equal to about a quarter of the amount of money spent on prescription drug use that year, which was $54 billion.

Complementary healthcare users aged four and older spent $510 per year on average on these approaches.

‘People are fed up’

The National Products Association’s Executive Director, Daniel Fabricant, who also happens to be a former FDA Director of Dietary Supplement Programs, said:

“People are fed up with the type of care they get from primary physicians that is covered by insurance. Across the board, people are looking for ways to stay healthy on their own.”

He pointed out that the average doctor sees 40 patients a day, spending just seven minutes with each one on average. This means that people don’t feel engaged with their doctors, and are taking matters into their own hands.

Big Pharma losing ground

Another factor at play here is people’s growing disillusionment with the deceitful practices of Big Pharma, whose overpriced medications often do little to cure problems, and can leave people in worse shape than when they started, thanks to their many side effects. Pharmaceutical firms are also known to engage in deceptive research tactics, and people are now seeing for themselves how many of their “solutions” send people into a cycle of dependency without really curing anything.

According to The Economist, Americans spend a whopping 20.9 percent of their total household expenditures on health costs, far exceeding other countries. As more people realize that Big Pharma profits from people being sick, they are turning to alternative options.

This sea-change in attitude can also be evidenced by consumers’ increasing preference for organic produce. The world’s second-largest retailer, Costco, announced this year that organic sales had jumped 72 percent since 2008, with its organics sales totaling $4 billion last year.

The message is clear: Americans are fed up with Big Pharma. They are tired of the lies. People don’t want to load their bodies up with the dangerous chemicals found in medications. They don’t want their fruits and vegetables to be laced with pesticides. And their spending habits are starting to back this up. One can only hope this trend will continue, with natural health spending eventually outstripping that of conventional medicine.

Source

Basic income for everyone

The Finnish government is getting serious about the idea of a national basic income. It has commissioned KELA, the national social insurance provider, to study the concept, calculate the costs, and run an experiment in 2017 to judge the feasibility of rolling it out across the country. If, eventually, the government were to approve of such a plan, Finland could scrap all existing benefits and instead hand out a monthly stipend to everyone. According to some reports, the monthly payment could be €800 ($870).

Whereas several Dutch cities will introduce basic income next year andSwitzerland is holding a referendum on the subject, there is strongest political and public support for the idea in Finland.

A poll commissioned by KELA showed that 69% support (link in Finnish) a basic income plan. Prime minister Juha Sipilä is in favor of the idea and he’s backed by most of the major political parties. “For me, a basic income means simplifying the social security system,” he says.

But for those outside Finland, the plan raises two obvious questions: Why is this a good idea, and how will it work?

 It may sound counterintuitive, but the proposal is meant to tackleunemployment. Finland’s unemployment rate is at a 15-year high and a basic income would allow people to take on low-paying jobs without personal cost. At the moment, a temporary job results in lower welfare benefits, which can lead to an overall drop in income.
 Previous experiments have shown that universal basic income can have a positive effect. Everyone in the Canadian town of Dauphin was given a stipend from 1974 to 1979, and though there was a drop in working hours, this was mainly because men spent more time in school and women took longer maternity leaves. Meanwhile, when thousands of unemployed people in Uganda were given unsupervised grants of twice their monthly income, working hours increased by 17% and earnings increased by 38%.

One of the major downsides, of course, is the cost of handing out money to so many people. Liisa Hyssälä, director general of KELA, has said that the plan will save the government millions. But, as Bloomberg calculated, giving €800 of basic income to the population of 5.4 million every month would cost €52.2 billion a year. Finland only plans to give the basic income to adults, not every citizen, but with around 4.9 million adults in Finland, this would still cost €46.7 billion per year. The government expects to have €49.1 billion in revenue in 2016.

Another serious consideration is that some people may be worse off under the plan. As a proposal hasn’t been published yet, it’s not yet known exactly who might lose out. But those who currently receive housing support or disability benefits could conceivably end up with less under national basic income, since the plan calls for scrapping existing benefits. And as national basic income would only give a monthly allowance to adults, a single mother of three could struggle to support herself compared to, for example, a neighbor with the same government support but no children and a part-time job.

Finally, this raises the question of whether it’s really fair to give a relatively better off individual the same amount of welfare as someone who’s truly struggling. Finland’s constitution insists that all citizens must be equal, though, of course, equality can be interpreted in many different ways. So far, there’s no definitive answer as to whether national basic income will create a more or less equal society.

Correction (Dec. 5): An earlier version of this article questioned whether it was fair for millionaires to get the same level of welfare as those who are struggling. As wealthier people still pay tax, a millionaire would technically get €800 per month but would not get net support from the government. The article also cited non-seasonally adjusted unemployment data, which has been changed to the seasonally adjusted figures, and stated the cost of providing basic income for every citizen rather than every adult.
Correction (Dec. 8): An earlier version of this article did not explain that KELA is conducting a study to explore the possibility of a implementing a basic income program. There is no government plan to introduce a basic income for all adults at this time.

An effective and efficient way to get a job

There’s a story of an Italian Billionaire when asked if he had to start over from scratch what he’d do (I searched Google 50 times to find the original without luck). He replied that he’d take any job to make $500, buy a nice suit, then go to parties where he’d meet successful people. The implication being that he meet someone who’d offer him a job, share an opportunity, etc.

I’m almost 40 and of the 5 career type jobs I’ve had in my life (I run my own business now), 4 came through networking. Only 1 came out of applying to a job listing.

But networking isn’t something you just go out and do. It’s immensely more effective if you have simple people skills. And when I say simple, I mean spend a couple hours reading Dale Carnegie’s “How to Win Friends and Influence People.” Read that and try it out at a party and you’ll be blown away by how effective it is and how after meeting and talking with a few people and asking them about themselves, how they’ll want to help you, without you asking them.

When I asked my old boss who was the most remarkable sales person I’ve met, what he did to improve his sales skills, he told me that right out of college without any skills or pedigree degree, he took a job as a limo driver. He was reading “How to Win Friends and Influence People” and thought it would be worth trying out. He would ask his customers one simple question when they got in the limo, “So tell me about what you do.” That simple question resulted in a huge increase in tips he received. Notice he didn’t ask his customers, “What do you do?” There’s a subtle difference. If you ask the latter, many people will just tell you in a few words what they do. If you ask the former, it’s an invitation for them to tell you their story. Few people will turn that down.

At one point early in my career, I was doing research in the medical field and realized I wasn’t interested in it or where it would lead. I wanted to make more money and get into the business side of things (this was right after the tech crash in the San Francisco area), so I spent nearly 9 months relentlessly applying to jobs, writing cover letters, researching companies. With no success. I was doing it all wrong.

One night, my roommate asked if I wanted to go to a party. Sure, no problem. We went. I didn’t know a single person there. At one point, everyone did shots. I wandered back to the kitchen to get a beer. There was one other guy in the kitchen and I introduced myself. We talked for a while, I asked him what he did and he said he worked in biotech. I mentioned I was looking to get into the field, and he said his company was actually hiring. My resume got send to the hiring manager, and I was interviewing within a couple weeks. You can guess what my next job was.

There are a million paths to getting rich. And there are countless people who’ve gotten rich who are jerks, tyrants, manipulative, conniving, and all around assholes. When you’re working in different industries, you’ll start to feel that all the  successful people are this way. But in reality, these are only the people who leave the most lasting impression, not because they’re the only people who succeed.

But there’s unlikely anyone out there successful who wouldn’t emphasize the value of people skills in succeeding.

If you would like to become a millionaire, keep on reading the Source

Source