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Facebook Co-Founder Won't Escape All U.S. Taxes By Renouncing Citizenship

http://www.forbes.co...ng-citizenship/

So what does that make two billion dollars? Apparently, a pretty good reason to give up your citizenship.
Brazilian-born Eduardo Saverin, who helped co-found the mega-successful social networking site Facebook in 2004 has called it quits in the U.S. The 30 year old Saverin has renounced his U.S. citizenship in advance of the May 2012 initial public offering (IPO) for Facebook. The IPO is expected to boost Saverin’s already staggering net worth, which is already estimated at $2 billion, putting him solidly at #634 on the most recent Forbes List of Billionaires.
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Over the years, Saverin has divested himself of much of his Facebook holdings. He has generally eschewed the spotlight (that Zuckerberg appears to relish) and two years ago, moved to Singapore where he reportedly owns a luxury penthouse.

In 2011, Saverin moved to renounce his U.S. citizenship, joining the ranks of Princess Grace of Monaco, Queen Noor, Jet Li, Terry Gilliam and Andreas Papandreou (now the Prime Minister of Greece).
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Of course, you have to choose carefully when leaving the U.S. because it makes a difference where you go. Saverin’s advisors are pretty savvy: Singapore is a terrific choice because it does not have a capital gains tax. It’s also no stranger to expats from all over the world because of its favorable tax laws. It was previously considered a tax haven though it was removed from the dreaded gray list of the Organisation of Economic Cooperation and Development (OECD) after it signed a number of financial transparency agreements with other countries.


More in the link.

Kroger attack rips open old Liberal wounds

http://www.abc.net.a...-attack/4005234

Great theatre, worth watching as he doesn't hold back.

Fast Artificial Photosynthesis Could Change Solar Energy Forever

http://oilprice.com/...gy-Forever.html

For more than 30 years scientists around the world have been working on creating an artificial form of photosynthesis, with varying results. Licheng Sun, professor of organic chemistry at the Royal Institute of Technology (KTH) in Stockholm, Sweden, said that the main problem has always been the speed of the reactions. However Licheng Sun along with his team of researchers believe that they have solved the problem. They have constructed a molecular catalyser which can oxidise water into oxygen at record breaking speeds. Natural photosynthesis generally takes place at 100 to 400 turnovers per second. The KTH catalyser reaches speeds of over 300 turnovers per second. Now that artificial photosynthesis can be created at speeds equal to nature many possibilities open up for renewable energy sources, especially the use of solar energy. Artificial photosynthesis could be used to construct large facilities in the Sahara to use solar energy to produce vast quantities of hydrogen, or merely to greatly increase the efficiency of traditional solar cells. It could also use solar energy to convert carbon dioxide into fuels such as methanol. As Licheng Sun and his team continue to work on the process in an attempt to make it much cheaper, it is possible that within 10 years it could be cheap enough to compete with carbon based fuels.

Property Victoria's big earner

http://www.smh.com.a...0410-1wn3k.html

PROPERTY is the largest industry in Victoria, contributing $36.9 billion, or 12.2 per cent, to the gross state product of $301.4 billion, according to a new study.
However, the sector is the second largest employer in Victoria after manufacturing. It directly employs 312,165 full-time workers - $15.7 billion in wages and salaries - compared with manufacturing's 313,791 full-time jobs.
In terms of income, property comes in at No. 3: $15.7 billion, or 9.9 per cent, after manufacturing ($18.9 billion or 11.9 per cent) and finance and insurance ($16.7 billion, or 10.5 per cent).



More in the link above. It gives you an indication of the vested interests that influence those in gubment. A small dip in manufacturing and the FIRE industries top the list...

The article is about the USA but is somewhat applicable in Australia. It's worth remembering that it took 60 years for nominal house prices to return to levels reached during the peak of the 1880s property bubble.

What If Housing Is Done for a Generation?

http://www.zerohedge...done-generation

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