Jesse Colombo:

In most developed countries, the past decade has undoubtedly been the hardest time to build financial wealth since the Great Depression. Aspiring wealth builders have been hit with a cluster bomb of stagnating economic growth and wages, high unemployment, poor career advancement opportunities, soaring living costs, paltry fixed income investment returns, and increasingly volatile financial markets.
 
 Unfortunately, my research has found that it will become even harder to build financial wealth in the next ten to fifteen years or so because the Global Financial Crisis is far from over despite the desperate efforts of institutions such as the media and government to convince the public otherwise. Rather than encouraging a sustainable economic recovery, central banks have created what I call a “Bubblecovery” or bubble-driven recovery by inflating a series of dangerous, but temporary growth-boosting bubbles around the entire world, from Canada to China to the U.S. stock market. The inevitable ending of this Bubblecovery will finish where the 2008 Crisis left off, causing living standards to plummet even further and depressing the value of common investments for a very long time.

Derek Thompson:

For entrepreneurs in America, it is the best of times, and it is the worst of times. It is “the age of the start-up,” and “American entrepreneurship is plummeting.” We are witnessing the Cambrian Explosion of apps and the mass extinction of apps. These are the glory days of risk, and we are taking fewer risks than ever. Tech valuations are soaring, and tech valuations are collapsing, and tech valuations are irrelevant. “A million users” has never been more attainable, and “a million users” has never been more meaningless. It is the spring of hope. It is the winter of despair.
 
 The story of American entrepreneurship begins with a tale of two definitions of entrepreneur. When the press imagines the modern entrepreneur, our minds turn to tech—coders, hackers, hoodies, apps, Silicon Valley (the show), Silicon Valley (the valley). And it’s true: This sliver of entrepreneurship has grown, by all sorts of measures, for example by venture-capital funding:
 
 But researchers studying national entrepreneurship trends aren’t caught staring at the tip of the iceberg. When they describe “declining business dynamism” (at Brookings) and steadily falling entrepreneurship (at BLS), they’re looking at the whole block of ice. And it’s melting.

Martin Wolf:

High-income economies have had ultra-cheap money for more than five years. Japan has lived with it for almost 20. This has been policy makers’ principal response to the crises they have confronted. Inevitably, a policy of cheap money is controversial. Nonetheless, as Japan’s experience shows, the predicament may last a long time.

The highest interest rate charged by any of the four most important central banks in the high-income economies is 0.5 per cent at the Bank of England. Never before this period had the rate been below 2 per cent. In the US, the eurozone and the UK, the central bank’s balance sheet is now close to a quarter of gross domestic product. In Japan, it is already close to half, and rising. True, the Federal Reserve is tapering its programme of asset purchases, and there is talk that the BoE will soon tighten policy. Yet in the eurozone and Japan the question is whether further easing might be needed.

A recent conference included an interesting visit to the George W. Bush Presidential Library.

Still Images

While on travel recently, I wondered a bit around downtown Dallas and found the massive iPhone 5c advertisements interesting. Aimed at nearby freeway traffic, the Apple imagery was “complemented” by similar “fast follower” Samsung placements. I noticed the Samsung advertisements during a later drive. However, I lacked the time to photograph them.

Samsung’s USA mobile phone business is headquartered in nearby Plano.

Tap on the images below to view larger versions.

The Apple advertisements’ location can be seen in context via this iOS maps app screenshot:

Panoramas (tap to pan & zoom)

Still Images (tap for a larger version)

Event website: April 12 – June 26, 2014

Gabriel Garcia Marquez:

For reasons of health, Gabriel Garcia Marquez, Colombia’s illustrious Nobel Laureate for literature, has declared his retirement from public life. He has terminal cancer and sends this letter of farewell to friends and lovers of literature.
 
 If God, for a second, forgot what I have become and granted me a little bit more of life, I would use it to the best of my ability.
 
 I wouldn’t, possibly, say everything that is in my mind, but I would be more thoughtful l of all I say.
 
 I would give merit to things not for what they are worth, but for what they mean to express.
 
 I would sleep little, I would dream more, because I know that for every minute that we close our eyes, we waste 60 seconds of light.
 
 I would walk while others stop; I would awake while others sleep.
 
 If God would give me a little bit more of life, I would dress in a simple manner, I would place myself in front of the sun, leaving not only my body, but my soul naked at its mercy.
 
 To all men, I would say how mistaken they are when they think that they stop falling in love when they grow old, without knowing that they grow old when they stop falling in love.
 
 I would give wings to children, but I would leave it to them to learn how to fly by themselves.
 
 To old people I would say that death doesn’t arrive when they grow old, but with forgetfulness.
 
 I have learned so much with you all, I have learned that everybody wants to live on top of the mountain, without knowing that true happiness is obtained in the journey taken & the form used to reach the top of the hill.

Tom Salt:

To celebrate our VW Beetle’s 40th birthday we decided to take it home. Having been built in Germany in 1972 she spent most of her life in Britain. 40 years later it seemed a fitting celebration to go back to the factory.