Afghanistan & the American Imperial Project

August 17, 2021

On August 16, 2021 President Biden addressed the nation to explain why the US military is pulling out of Afghanistan. To a lesser extent, he also tried to explain why the Afghan government and its 300,000 military forces imploded over the past weekend. With the Afghan State’s quick disappearing act, in a puff of smoke up went as well the more than $1 trillion spent by the US in Afghanistan since 2001.

Biden glossed over the real answer to the first point why the US is now pulling out. The second he never really answered.

The real answer to the first point is simple: the USA as global hegemon can no longer afford the financial cost of remaining in that country, so it is pulling out. New projected costs of maintaining US global empire in the decade ahead have risen dramatically since the Afghan war began in fall of 2001. US elites now realize they can longer afford the new rising costs of Empire elsewhere, while simultaneously keep throwing money down the 20 year financial black hole called Afghanistan. The US is pulling out because, for the first time since 1945, it has decided to cut its costs in less strategic areas in order to be able to finance the growing costs of empire elsewhere.

The new areas are:

the rapidly rising costs of investing in next generation technologies needed to compete with China, both militarily and economically;
the costs of cybersecurity investments needed to deal with Russia, China, and with select lesser cyber challengers;
and the investments needed to answer the threat to US security from the new emerging War with Nature (sometimes called Climate Change)

In all three new challenges, the USA is currently behind the curve. Nature’s reaction to capitalist production in the form of climate warming means Nature is winning the early skirmishes and the US thus far has not even been able to mount a serious counter-response. Russia, China and other apparent state-less challengers are also winning the cybersecurity war. The US can’t even protect its basic infrastructure and businesses from hacking and ransomware that has the potential of shutting down wide sectors of its economy. And so far as next generation technologies, like Artificial Intelligence and 5G wireless, is concerned the fight with China—and a lesser extent with Russia over new tech weaponry—has only just begun.

All three areas represent costly strategic challenges to US global hegemony, requiring massive new capital investments by US government and the US State. US imperial interests increasingly realize they cannot continue to throw away trillions of dollars more in wars in Afghanistan, let alone the broader middle east—whether Iraq, Libya, Syria/Isis, Iran containment, or financing Arab states’ war in Yemen.

An Empire Built on Fiscal Sand

How the US financed the wars in Afghanistan and elsewhere in the middle east as it exercised its global hegemony since 2000 is another obstacle to meeting the new strategic challenges. That method of imperial finance—like the war in Afghanistan itself—is no longer sustainable.

The first two decades of the 21^st century is the first time in the entire history of the USA that wars have been financed without raising taxes and, indeed, while the US has simultaneously implemented massive tax cuts.

Up to and including Vietnam, taxes have always been raised to pay for war costs at least in part. But not in the 21^st century! Not for the wars for the middle east. Since 2000 and the USA’s middle east war adventures, it has spent $ trillions of dollars on wars while cutting taxes by even $ trillions more. This had never happened before. It became a formula for eventual disaster—driven ultimately by US elites’ greed combined with an historic hubris of mistaken military invincibility.

That tax cutting since 2000 has amounted to at least $15 trillion! For the record:

George W. Bush cut taxes, largely on behalf of wealthy investors and businesses, by more than $4 trillion over the first decade, 2001-10. Barack Obama added over a $1 trillion more in his first two years in office 2009-2010—in the form of $288 billion new tax cuts in 2009 and by continuing the Bush tax cuts another $803 billion for two years, 2011-2012—after the Bush tax cuts had been set to expire in 2010. Obama then struck a deal with Republicans at the end of 2012 to extend the Bush tax cuts for another 8 years. That cost another $5 trillion. Donald Trump in December 2017 then added yet another layer of tax cuts on the Bush-Obama prior $10 trillion. Trump’s contribution amounted to $4.5 trillion for another decade, 2018 to 2028. Each tax cut layer provided even more of the total to investors, corporations and wealthy households. Trump’s went almost exclusively to investors, wealthy households, and especially to multinational US corporations. In the latest addition, Congress cut taxes another $650 billion in its ‘Cares Act’ passed in March 2020. That’s more than $15 trillion tax cuts in total!

Tax cutting since 2000 contributed in turn to massively annual budget deficits and the consequent explosion of the federal national debt.

But $15 trillion in tax cutting was not the only cause of a deep decline in potential tax revenues, chronic budget deficits and rising national debt, however. A chronically weak US economy, especially after 2008 and continuing throughout the Obama years, has also sharply reduced potential federal tax revenues. The average annual US growth since 2007 has barely reached 1% a year. Tax revenues—from both cutting taxes and inadequate economic growth—account for at least 60% of deficits and thus for the national debt, according to many studies.

Concurrent with the unprecedented drumbeat of constant tax cuts for capitalists large, medium and small has been the equally unprecedented rise in defense/war spending to pay for the wars since 2000—abroad and at home (homeland security costs, war on immigrants costs, militarization of policing, etc.). The wars abroad since 2001 alone cost an estimated $7 trillion.

$15 trillion in tax cuts plus $7 trillion in war spending since 2001 roughly equals the total US national debt by the end of the second decade of the 21^st century. As a result of tax cutting and defense spending, the US national debt rose from roughly $4 trillion in 2000 to $9 trillion by end of 2008 (as Bush left office) to $17 trillion by 2016 (as Obama left office) and thereafter to $21 trillion when Trump left office by January 2020. The budget deficit this year, 2021, will rise another $2.5 to $3 trillion!

It is now projected to rise to at least $28 trillion by end of the current decade! For added to the tax cuts and war spending excesses must be as well the costs of the 2008-09 great recession, the chronic slow economic growth that followed under Obama for years after, and most recently the costs of legislation and programs to contain the Covid related 2020-21 crash and second great recession now underway. Should chronic slow growth follow the current second great recession—as it did its predecessor in 2008-09—the $28 trillion national debt estimate by end of decade will almost certainly be passed.

In this fiscal system built on sand, US imperial interests must somehow find the capital and resources to finance massive investments to wage its growing technological-economic war with China, its cybersecurity war with Russia and others, and its war with Nature.

Empires are seldom conquered from without. They always rot from the inside first. And the rot is well underway in the USA’s.

US Costs of Empire Are Rising

The US economic empire is under increasing economic stress because the options to finance it going forward are in decline. Massive new costs loom on the horizon. Next generation technologies will determine both economic and military dominance by 2030. Artificial Intelligence, Cyber Security, and 5G wireless broadband are all necessary for the development of smart, hypersonic weapons, as well as for disrupting an opponent’s domestic communications, power systems infrastructure, and even key production systems. The USA knows this. China knows this. Russia knows this. (Europeans and Japanese know it too but simply cannot compete and are not even in the game any more). The above triad of technologies are also key to the development of new industries and thus for economic growth as well in the decade ahead.

The US empire today faces a massive bill of investment over the next decade. In some ways it already lags behind China, as a result of US corporations moving off shore (to China), building R&D and production partnerships in China and elsewhere offshore, and allowing China to penetrate US R&D in the USA, at least until recently. In other ways it is also behind Russia technologically (especially in hypersonic missile and tactical missile defense technologies).

As the US global empire has weakened over the past decade, it has thrown more money into defense/war spending, cumulatively at least $7 trillion. That spending—of which Afghanistan contributed $1 trillion at minimum—US elites know will now have to be redirected to the new ‘wars’: the technology-economic war with China, the cybersecurity war with Russia, and the war with Nature itself in the form of investments directed to climate change mitigation.

Apart from the costs of these new wars of 2020-2030, it is more likely than not that more economic crises will arise. After two consecutive great recessions in roughly a decade (2008-09 and 2020-21) it is likely a third cannot be avoided either. Trillions of dollars more in emergency social program spending to contain the collapse of household consumption and small businesses once again is more likely than not.

It is therefore not at all surprising that Biden, and US empire elites in general, have concluded it’s best to cut losses in Afghanistan and get out now. Ditto for general costs of empire throughout the middle east. There’ll be no more traditional wars there for the USA. Such adventures are no longer affordable. Nor necessary, since the USA is now the largest producer of oil and gas in the war as result of new fracking technology at home, exceeding both Russia and Saudi Arabia. The main strategic reason for US wars in the middle east—i.e. oil—is no longer a consideration

In summary: the cost of wars in the middle east (Iraq, Afghanistan, Syria, Somalia, Iran containment, etc.) are being substituted for by the technology-economic war with China, the cybersecurity war with Russia, plus the need for expected additional commitments for the ‘war with nature’ (climate change costs).

The US empire can simply no longer afford the total bill for all the above. And that is the number one reason why the US is exiting Afghanistan altogether. That’s why Biden’s cutting US losses in Afghanistan and getting out. As he signaled in his TV address to the nation on August 16 that war is no longer in the US global interests. There are more important tasks. Tasks that will take even more funds. US interests have shifted. So must its expenditures of empire. That’s why it’s finally getting out of Afghanistan.

Is US Empire in Rapid Decline?

US elites realization that they can’t have their cake and eat it any longer. They can’t have unprecedented tax cutting, jump into civil wars everywhere around the globe, precipitate excuses for military intervention for domestic political purposes, and deal with the increasingly frequent deep recessions while financing the new ‘wars’ on the horizon with China, Russia, and nature itself. That’s what the US exit from Afghanistan fundamentally represents. It is an early indicator of the future decline of the US global hegemony. However, that decline is still in its very early stages and should not be over-estimated.

The US empire and global hegemony rests on its economic power in the global economy. The US empire is not like that of the former British or the older European colonial empires. It wields political power indirectly over indigenous economic elites. It does not directly run the political systems of its client countries. Or at least rarely resorts to that. It wields political power through its economic power. And that economic power resides in its dominance of its global currency, the US dollar; in its control of the (SWIFT) international payments system; in the influence of its central bank, the Federal Reserve, over other countries’ central banks; in the dominance of its banks and financial institutions worldwide; and its ultimate control of global economic institutions like the International Monetary Fund and World Bank.

Until the US dollar is seriously challenged as the world’s reserve and trading currency, until its control of the global payments system is supplanted by an alternative, until the dominance of its banks and financial institutions is broken, and until dual institutions challenging the IMF and World Bank are an effective alternative—the US global economic empire will continue and exercise hegemony.

Afghanistan represents not the end and defeat of the US imperial project. At most, it is a marker for the USA having peaked perhaps as global hegemon. Instead, it represents a fundamental shift at best and the start of a new phase in the history of the US empire.

As noted previously, global empires are rarely conquered from without militarily. Military failures or successes are not evidence of imperial virility. All empires rot internally before decline. And they begin a period of decline only when they cannot any longer afford to finance themselves.

Rome’s collapse in its west after 400 C.E. began when Germanic invaders seized Rome’s agricultural grain surplus base in Spain, Sicily and North Africa as the eastern Roman empire also cut off its grain surplus in Egypt. That agriculture base was the source of its taxation and in turn the funding of its military legions.

The British empire began its decades-long decline when its colonies began to disappear in the 20^th century as result of economic war costs after 1918 and 1945. Basically bankrupted by wars, after World War II it no longer had the finances to hold onto its colonies. Some, like India, simply went independent. Others were ceded to the USA de facto as a condition of loans from America to Britain during and immediately after the second World War. Britain’s colonial empire could not be economically sustained any longer.

The Soviet Union’s de facto empire collapsed only after a decade of economic stagnation in the 1980s and after Gorbachov signaled to opportunist Communist Party leaders in charge of the economy it was ok to convert to capitalists as they continued their management of the economy. The apparatchiks virtually overnight became oligarchs, threw out Gorbachov, and brought in US capitalists as partners in exploitation and capitalist restoration. A decade of severe economic depression followed throughout the 1990s. The Soviet Union empire spun apart politically thereafter—first in east Europe, then the Baltics, then the Caucasus, then Belarus-Ukraine. And that was that.

The USA is in the very early stages of something similar. It has not yet lost control of its foreign resources and markets, as did ancient Rome. It has not yet bankrupted itself with wars, as did Britain in the 20^th century. Its elites have not yet turned on the system itself, although the splits between the Trump forces and traditional US capitalists has been clearly intensifying. So too are divisions rapidly growing between its populace, at state and local levels. Wide sections of the populace no longer believe in the system, its traditional values and ideology, nor its fundamental institutions. That has all occurred rapidly in just a couple decades. That scenario clearly signals something similar to past imperial systems’ decline is underway within the USA. However, the US political elites and dominant capitalists behind them still wield significant resources, economic and political.

Afghanistan does not represent the beginning of the end but rather, along with US domestic trends, the end of the phase of the shift to Neoliberal empire created in the late 1970s-early 1980s, in response to the economic crises and stagnation of the 1970s. The US is now at another juncture. Neoliberal economic policies no longer suffice to sustain the empire and US global hegemony. What comes next this decade is yet to be determined.

But whatever the current decade portends, it is clear that after 20 years of wasting nearly $30 trillion on wars, tax cuts, and dealing with two great recessions and their economic aftermath, US elites realize they cannot pay for middle east wars and confront the costs of the new challenges to maintain the empire. The focus henceforth will be on the Great Technology War with China, cybersecurity conflicts with Russia, while attempting to up investment as well to deal with the other war the US is now clearly losing: Climate Change. These are the key strategic interests of the American Empire in this decade and beyond—not Afghanistan.

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About the Author

Dr. Jack Rasmus is the author of the 2020 published book, ‘The Scourge of Neoliberalism: US Economic Policy from Reagan to Trump’, Clarity Press. His website is http://kyklosproductions.com, twitter handle @drjackrasmus, and he blogs athttp://jackrasmus.com. He hosts the Alternative Visions radio show every Friday at 2pm eastern time.

Five Ways That CBD Can Help With Insomnia

August 17, 2021

Insomnia is a fairly common sleep disorder. It has increased over recent years because of our busy lifestyles, increases in device screen time (which is known to interfere with us feeling sleepy), and perhaps most significantly, the COVID-19 pandemic. With so many people struggling to fall asleep, an effective solution is needed. Research has indicated that CBD may well be a fantastic way to help us wind down at night and fall into a restful sleep. But what precisely is CBD, and how is it alleged to help stop insomnia?

What Is CBD?

Also known as Cannabidiol, CBD is a natural remedy that is used for many common illnesses as well as for general health. It is also one of more than 100 chemical compounds (known as cannabinoids) that are found in the cannabis plant. However, this is not to be confused with the infamous THC (or tetrahydrocannabinol), which is the primary psychoactive cannabinoid found in cannabis, which is what makes us feel ‘high’. CBD, however, is not psychoactive. This makes CBD attractive to those who are looking for relief from pain or other symptoms without the mind-altering effects of cannabis. Over recent years, it has started to gain momentum in the wellness sphere as scientific studies are starting to present impressive benefits associated with the use of CBD, including helping to control symptoms of epilepsy and arthritis. It is also claimed to be beneficial to our general health and is an effective natural supplement.

What Is Insomnia?

Insomnia is a type of sleep disorder. Sufferers find it hard to fall asleep, stay asleep, or both. This can lead to feeling groggy when awake and consequently can cause fatigue and other symptoms. Unfortunately, the current climate (COVID-19 and the stress associated with it) has led to an increase in insomnia cases. In fact, it is so widespread that it is being dubbed ‘coronasomnia’. A Chinese study undertaken to investigate the effects on coronavirus and insomnia proves worrying reading. The data collected suggested a 37% increase in the rates of clinical insomnia (from 14.6% to 20%) from before the peak of the COVID pandemic.

Whilst there are treatments available for insomnia already, such as sleeping pills, many people see these as insufficient. Sleeping pills, whilst fairly popular, often come with a range of unwanted side effects such as grogginess the next morning and reliance on the medication. Individuals are keen to find a solution that is natural and that doesn’t make you feel grouchy the next morning. Therefore CBD is being considered an attractive alternative.

Let’s take a look now at five ways that CBD may be able to help with insomnia:

1. It Can Help To Decrease Stress and Anxiety

Stress is something that, unfortunately, many of us can relate to. Unsurprisingly, stress and insomnia are intricately linked. If you’re feeling stressed or anxious, chances are you will struggle to get off to sleep at night, at least on occasion. Several studies, however, have shown that CBD is able to reduce anxiety in people. CBD interacts with different receptors in the body and aids in the reduction of anxiety. CBD also alters the serotonin signals, which is a hormone as well as a neurotransmitter that plays a crucial role in sustaining good mental health.

2. It Can Help In Treating Pain And Inflammation

Another factor that can affect our sleep cycle is pain and inflammation. If we are sore and in pain, it can be very hard to turn off and embrace sleep. Luckily for us, CBD is known for its anti-inflammatory properties. How does it do this? It can interact with our endocannabinoid system (ECS), which is a vast network of receptors that helps to manage various bodily functions, including that pain and inflammation. The CBD, therefore, interacts with the ECS to reduce pain and inflammation in the body. Furthermore, CBD is able to ease inflammation because it can reduce the prevalence of inflammatory cells, which in turn helps us to sleep soundly.

3. It Can Help In Treating REM Sleep Behaviour Disorder

Rapid Eye Movement (AKA REM) is a stage of sleep that we all go through each night. However, REM Sleep Behaviour Disorder (RBD) is a state where a person behaves unpredictably during REM sleep. This can mean extreme restlessness, abrupt movements, loud noises and enacting dreams for those who suffer from RBD. Unsurprisingly, this condition can prevent people from getting a restful night’s sleep. Luckily, CBD may be an effective solution because it assists in relaxing the mind as well as encouraging peaceful sleep.

4. It Can Help You To Give Up Other Medications

Whether in the format of CBD gummies, capsules or tinctures, CBD is becoming increasingly popular, partly because it is alleged to be able to treat a wide range of medical conditions. Plus, it is an entirely natural treatment as opposed to the common alternative, which is strong doses of pharmaceutical drugs, which are often accompanied by a range of unwanted side effects. One key example is ADHD medications. These drugs are fantastic in stimulating focus and alertness. However, side effects such as insomnia are consequently very common. With the use of CBD, these unwanted side effects can be virtually eradicated.

5. CBD Can Help To Regulate The Body’s Circadian Rhythm

In a nutshell, circadian rhythm is both mental and physical changes in the body that respond to light and dark in the external environment, such as our sleep-wake cycle. If this rhythm is disrupted, then serious issues can arise, such as weight gain and slower thinking. Luckily, CBD can affect the ECS, which plays a role in regulating circadian rhythm. Therefore, CBD might help to control the sleep-wake cycle and thereby improves the condition of insomnia. Clever stuff!

Final Thoughts

Insomnia is an issue for many of us. In fact, there is almost an insomnia pandemic within the current pandemic. There are various medications available to help, but these often are accompanied by unpleasant and unwanted side effects. CBD is fast becoming a very popular alternative to many people, partly because it is natural and partly because of its myriad of acclaimed benefits with few side effects. We have had a look at five ways that CBD can help with insomnia and why people are starting to turn their heads. Hopefully, in time, research will reveal its true potential, and it may even become the leading approach to tackling insomnia and assist you in getting a restful night, every night.

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Wealth Creation – It’s More Important Than Ever Before

August 17, 2021

In uncertain times we suddenly remember that the endless pot of money we thought we might have planned for is not so endless and that monthly salary that kept everything ticking over, is not ticking so much anymore either.

How To Make Better Financial Plans

Before you can fix the problem, you first need to know that there is one and far too many of us fell into the trap of thinking that as long as we had that monthly pay date, we could roll over loans, credit cards and mortgages to keep funding our short to medium-term financial ambitions. Now, we know better and know that we know better, it’s time to put our hard-earned lessons to work. Knowledge is power so here’s how you start planning for your financial future.

Time to look in the “truth mirror” and take an honest and we do mean honest look at where you’re at with your finances, right now. You can do this by conducting a real-world audit of your and your family’s finances by taking stock of all of your sources of income, your expenditures and really importantly, your credit arrangements. All of them.
Where it’s possible, speak to creditors about entering new agreements with renegotiated interest and payment terms to free up some monthly cash flow. Most creditors will hear you out, especially if you’re in a bit of trouble – don’t wait for them to call you.
No matter what the bottom line turns out to be, do not freak out. Nothing will send you back into that ostrich hole in the sand faster than finance-related anxiety. Now you know and with that knowledge, we can begin getting you back out on top.
Using all your newly acquired personal financial data, it’s time to start plotting your future and if the dollars and cents don’t add up, it is also time to start supplementing your income.

Saving Your Way To Additional Income

Wealth creation isn’t just about how much money you make, but it’s also about how much money you save and this is where things can get a little tricky for many American families. The accepted “knowledge” is that if you’re not saving a ton of money, you’re never going to get anywhere and nothing could be further from the truth.

“Acorns” is a savings and investment app that has modernized the old method of “saving all your spare change” and it invests these amounts for you. You’ve probably heard of them and you may be asking is Acorns worth it? By all accounts, the answer is a resounding yes. As with any investment or savings portal, there are management fees and you should engage with the app to mitigate against this, but if you’re a hands-off investor and not quite in the market for trading stocks online, it’s a great place to start.

There’s never a better time than right now. You’ve heard that 100 times before, and it’s as true now as what it’s ever been and even if you’re just starting out, this is where it all begins.

Your future starts now, with or without, but with…is better.

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5 Ways to Use InvestLuck for Profitable Investing

August 17, 2021

Investing one’s hard-earned money in financial products is a serious task that has certain risks associated with it. But these risks do not overshadow the number of opportunities, investment brings to an individual interested. Whether it is the stock market, ETFs, forex, or crypto that intrigues you, deciding where to put your money is challenging and strenuous. A person requires expert-level guidance to ensure making all the right decisions according to their budget and expectations. Online guidance related to all kinds of investments like InvestLuck is a considerably new and better way to enter any market

InvestLuck is a unique one-stop destination for those who want to gain more exposure and knowledge about various investment opportunities. Accessing the main website would take you back as there are dozens of investment-related information and guidance available for visitors. From how to invest to how to save money, one can find almost all investing essentials through InvestLuck. But as this portal is considerably new, potential investors do not comprehend how to make the most out of its features.

In the following, we have discussed 5 ways in detail to use InvestLuck to have a profitable investment experience.

1. Increasing Passive Income

During these unpredictable times of extreme economic pressure, each and everyone must have another source of income in addition to their primary source like their job. This other source of income is also called passive income and it helps bring financial stability in people’s lives in case their primary source is not helpful or enough to make the ends meet. Investing in profitable market opportunities is a great way to generate some passive income to help you out in the time of need but it is difficult to find.

InvestLuck has a dedicated section for letting users know everything about passive income. There is a list of apps that can increase one’s passive income on the website.

2. Trading Tutorials

When it comes to trading any type of financial instrument, the information found on the internet is not necessarily reliable or complete. Knowing how to use different strategies and analyses expertly while trading takes time and a lot of practice. In addition to that, methods of trading and markets to trade keep on changing a lot with time so it becomes difficult to keep an eye on trending market opportunities as you learn.

But with platforms like InvestLuck, finding the relevant information and training yourself how to trade is a piece of cake. A combination of trading guides, tips, along with several trading psychologies can be found on their website easily.

3. Investing Tutorials

All investors wish they could find an impartial piece of advice from a trusted source before they invest a large sum into any financial opportunity. But most of the time, either they get unreliable reviews or they get the information a little too late to save their initial investment. In both cases, the result in losing money in a short while could have been avoided if only, they obtained the required guidance in time.

Investluck users can browse through several types of investment guidance in the form of tips and commentary to help them understand whether it’s a good time to put their money into an opportunity or not.

4. Plans for Savings

Most people have the wrong idea about the art of investing money in order to gain some profit. They think that investment is all about spending money in the right opportunity which is only half true. An important aspect of investing is also saving money because if there is an imbalance between these two then an investor might be experiencing a loss of capital. To be able to spend money on investments, we have to secure a way to save money consistently.

Investluck is a great place to learn how to save money through easy and practical approaches.

5. Robot Reviews

The internet is full of forex and crypto robot reviews that are known to mislead millions of readers each day. There is nothing more harmful than following a completely one-sided review that is full of lies for a certain robot. This is where Investluck makes a difference through its expert-written and informational reviews about popular forex and crypto robots. These reviews can put investors and traders on the right path without any hassle.

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Legalized Sports Betting And The NFL Revenue

August 17, 2021

The sports betting landscape in the United States has changed drastically in the past few years. In May 2018, the federal ban on gambling and sports betting was lifted off by the Supreme Court. As a result, the decision to legalize sports betting within their borders was left to individual states. This was great news for football fans who can now stay within the law when betting on the NFL online.

Ever since the Supreme Court struck down the ban on sports betting, people spent nearly $8 billion on wagers, and as a result, $440 million was generated in gambling revenue. So it is pretty evident that the NFL got to reap a significant share of extra income. In fact, the advantages it got to reap were far more substantial than any other major sport in the US.

Nonetheless, this doesn’t mean the other huge sports like baseball and basketball didn’t see their revenues increase from the extra money. In simple words, all major sports will get to enjoy their fair share of money from the enormous gambling revenue.

In such a scenario, it is imperative that we take a closer look at how legalized sports betting will impact NFL revenue.

Revenue Models Will Change

The major sports mint greater money from the legal sports betting industry, which will definitely affect their revenue models. For instance, look at NFL. The increased options have changed the way NFL makes money. In fact, it will see a lot more income in the future.

Now, that brings us to the question, how did NFL make money in the past?

The answer to this question needs to be broken down into three distinct areas—tickets, TV rights, and sponsorship deals. While all these areas are pretty self-explanatory, we will still explain them in brief.

Under the TV rights category, the NFL receives a considerable amount from television companies to event coverage rights every year. On the other hand, tickets refer to the income from fans purchasing tickets to games. And, sponsorship deals talk about the revenue that comes from external companies to have their brand logo and name shown within the game.

Combined, these three revenue streams will result in a massive amount of money for teams, players, and the NFL itself. In 2018, the revenue was around $16 billion. This figure is further thought to rise in the future with sports betting being legal across numerous states.

Improved Sponsorship and Advertising Deals

Though sponsorship and advertising deals were already a revenue-generating stream for the NFL, new opportunities will open up in this space, primarily from gambling companies. In addition, the online sports betting influence can also be felt in this arena as the NFL is currently involved with numerous online casino providers and sportsbooks. Such organizations will pay the league enormous sums to market their services to the fans.

This will prove to be quite beneficial for the NFL as it will open up another revenue stream, putting more money into its coffers.

Increased Exposure to Fans

Fans play a vital role in attending events and spending money, thereby helping the NFL generate income. In addition, legal sports betting will likely result in the NFL gaining more exposure to the general American public than previously. For example, people who wager on sports might not actually be into football.

By listening to and watching more of the game through online and offline sportsbooks, people will be more likely to turn into fans of the sport, and in turn, the NFL. But, of course, this will also result in them spending money on their favorite teams.

Enhances Sales of Official Goods

Apart from the three major income streams, merchandising is another way for the NFL to generate revenue. Official NFL gear attracts a lot of fans. With sports betting being legal across various states, new fans will also be more likely to purchase the official goods. This naturally means more money for the league.

The Future Looks Bright for the NFL

Regardless of whether sports betting is legal or not, NFL will do pretty well. However, the legalization will create new revenue for the league, making its future look even brighter. A lot of people believe that a little bit of exposure to the worldwide audience can result in an exceptional increase in revenue for the sport.

Currently, sports betting and gambling are only legal in a handful of states across the United States. However, as more and more states legalize sports betting, American football will be able to stride even further, evolving as America’s favorite game.

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Zilch COO, Rakesh Harji, Talks to X4Technology About Brand History and Future

August 17, 2021

Zilch, the UK-based buy now pay later (BNPL) tech firm has been making waves in recent years. The payment service has steadily built a devoted customer base and multiple rounds of funding from a variety of investors. Now, the firm is being singled out as the next fintech unicorn, with comparisons being made to other successful brands like Klarna and Amex. COO Rakesh Harji recently sat down with X4Technology to discuss the company’s rise and to touch on how it’s become a success. Read on for an overview of some of the interview’s key points.

Zilch Accommodates Consumer Change

The world has changed drastically over the past year and many companies have struggled to adapt. During this time, however, Zilch has emerged as a model of how a brand can adapt to change in an intentional manner that stays true to its mission while also accommodating the realities of a new global context.

This strategy has helped the company grow precipitously since the start of the pandemic and has underlined its commitment to meeting its customers in ways that are most important to them. This has included an understanding of the ways in which the pandemic has changed the process of purchasing goods and services. A prime example of this has been the shift many industries are seeing to more online sales, supplanting in-person commerce as the main route through which purchases are made.

“To accommodate [changing consumer habits],” notes Harji, “we have designed, and geared our product around the customer and because of this, word is getting out across our users. We surveyed our customers about their values, using social media, and phone calls to see how things are going. When you talk to Gen Z and Millennial users, three clear values come out; they want to be responsible in the way that they do things, they’re trying to ensure things are affordable, and lastly, they want to make sure that the partner they use has their back. From a Zilch perspective, I believe we are fundamentally aligned across all three.”

The Importance of Culture

Global trends don’t just drive consumer habits, they also have the potential to affect brand culture, and not always for the better. Many brands have discussed how the shifts brought on by the pandemic have caused their staff to make drastic changes to how they work. For some, this has been a hindrance that has depressed business operations. But some of the most forward-thinking brands have been able to take these changes in stride and use them as an opportunity to coalesce as a team around their brand’s central mission. The latter has been the case with Zilch and, as Harji tells it, this has been a key component of the company’s ongoing success.

“Looking back at the past 12 months, I think wow, that was a moment no one has ever really experienced before,” recounts the COO. “COVID-19 has been a real test for our business and I’m so proud of the results we’ve delivered. There are a few points that have helped us to achieve this success. The first thing is that we managed to maintain culture. Culture is vital to our business. What we’ve created to how we do things and behave is geared and centered around culture. Culture is behind our exponential growth as a business. In October 2020 there were only 15 of us, now we’re up to 126 and we’ve managed to do all of this in the middle of a pandemic.”

Zilch Approach to Regulation is an Asset

Shifting sentiments around the payment industry have also played a role in the company’s rise in its field. Many of these sentiments have centered around the need for regulation to ensure consumers are treated fairly in their interactions with BNPL companies. While some companies have had a hard time adapting to evolving regulations, Zilch has emerged as a leader in this effort. As the COO tells X4Technology, the company has always prioritized working alongside regulators to deliver the best and most responsible product to its customers. This has helped underscore its commitment to consumers and established its adherence to a core set of values.

“When we evaluated the market we wanted to be a direct-to-consumer brand,” highlights Harji on this topic. “To do this we needed to ensure we had a high degree of trust with our customers. Therefore when we set up Zilch, we decided we needed to approach the FCA directly as we knew we needed to be a regulated product, and therefore a regulated company. We kicked that all off in 2018 and spent 12 months working with the FCA to attain a full Consumer Credit License – making us one of the first in the industry to do so. We did this from day one because it was, and still is, the right thing to do.”

The Future of the Field

One additional takeaway is the COO’s vision of what the future holds for his company’s broader industry. In discussing this, he centered his thoughts around the four pillars of responsibility, affordability, convenience, and choice. In offering a product that takes these four areas into account, the business leader feels confident that the company can continue to provide valuable services to Gen Z and Millennial users looking for smarter and more reliable payment options.

“All four of these pillars are at the heart of what we do at Zilch,” says the COO. “A proud moment for me was when we launched the app on the App Store, and within 48 hours we were number two, just behind PayPal. Our app gives our users the ability to shop online and in-store anywhere without restriction. By launching Tap & Pay-over-time, the high street is going to be a huge space for us once COVID-19 restrictions are removed. We’re the first company in Europe to offer a way to Tap and Pay-over-time, anywhere – and we’re really excited about it.”

In light of the success that Zilch has enjoyed since its creation, the company makes a prime target for analysis by those interested in the field of fintech and business. The above overview of the interview with COO Rakesh Harji provides an excellent look at how the company has worked to achieve that success and what it plans to do to continue that work moving forward.

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Useful Tips On How To Make Your Rental Property More Profitable

August 17, 2021

These days there are many things people can invest in, from jewelry and cryptocurrencies to stocks and shares. Property is another major way to make money.

If you’re a landlord, it’s important to understand the strategies that will make your rental property more profitable. Whilst there is no one-size-fits-all method for landlords, this article will provide you with some helpful tips to help you make more money.

Employ A Property Management Company

If your properties and tenants are well looked after, you will find it easier to keep them and you can potentially charge higher rents. The reverse is also true: poorly maintained properties and inferior customer service create a high turnover of tenants and bring down rental values. In reality, it is more than a full-time job being a landlord. You can provide a better service if you hire a specialist company to manage your properties.

Las Vegas is a highly popular city in the state of Nevada, United States. Landlords frequently look for a Las Vegas property management company to help them with their leasing, background checks, and monthly rent collections. Assistance can also be provided for such issues as pets, keys, locks, financial reporting, and property maintenance. In turn, the landlords have their time freed up to make additional property investments and business decisions. However, it is a significant risk for the landlord to hand over the key to your most expensive assets. That is why it is only fair to have a property management agreement between you and the property management agency.

Maintain The Property Well

First impressions are important when potential tenants come for viewings. Make sure everything is working properly and regularly check the property exterior for signs of leaks or wear and tear and for expert guidance no one matches Ooi Kee Liang. If possible, replace all doors and windows with UPVC versions. In turn, they will make the residences more energy efficient.

Each time a tenant moves out, check to see if anything needs upgrading or replacing. Getting some Sydney painters to walk through and apply a fresh coat of paint can make a world of difference.

Maintain The Grounds Adequately

Ensure that you have well-maintained landscaping and consider having a childs’ play area to attract new families. You could also add an outdoor seating area to create a homely atmosphere, and put up Christmas lights during December to make it feel more festive.

Rather than viewing such things as expenses, it’s better to view them as investments in the ongoing success of your rental business.

Advertise Fully

When rooms become available, you could contact rental websites like Airbnb or HomeAway and post the information so that people from outside your city will be able to find out. Alternatively, you can put up flyers around town. If there are any events going on in nearby areas, be sure to include this as a sales point for potential renters.

Also make use of social media sites such as Facebook when posting ads online, as it’s a great way to target your potential customers and reach a wider audience.

Be Helpful To People

Give potential tenants the opportunity to rent for shorter periods of time so they can try out the house before committing to a lease. Offer flexible payment methods such as paying by card or cash, instead of always requiring cheques.

Keep any shared areas such as bathrooms fully stocked with common items that renters will need, including toilet paper, soap, and cleaning supplies.

Handle Maintenance Issues Quickly

Put in place a system for tenants to report these. It could be anything from an online form to a dedicated helpline number.

Be sure to deal with all requests promptly and courteously. If there will be a delay, let the tenants know how long this will be so they don’t just think you’ve forgotten.

Make Safety A Priority

Your tenants will want to feel safe and secure at all times. Make sure all windows have locks If possible, invest in security cameras and have a plan in place for emergencies.

If anything is potentially dangerous, address it immediately and take the necessary action.

Make The Apartments Neighborhood Friendly

Potential renters will want to know they’re living in a nice location. As a result, you should be mindful of the noise levels in the neighborhood. Don’t let tenants make too much noise during specific hours (e.g., 10 pm – 7 am) when people are sleeping.

If there is an issue with noise, talk it over with the people concerned and give them options before taking any action. The tenancy agreement will need to include your policies on noise and misbehavior.

When a property is correctly maintained and its occupants are being well looked after, the stage will be set for your continued success. Your reputation as a landlord will bring more business your way as a result.

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How to Repay Your Loan Faster

August 16, 2021

So, you managed to secure yourself a loan to help you out of a tough financial spot. This can be great (even life-saving, literally) at the time, but it also means that… yep, you have a hefty loan to pay off and a fair amount of debt to your name that needs to be cleared. Besides paying the amount you owe, you also need to settle the interest on your loan.

Although most loans will have a repayment schedule that you will have had to agree to before being given the loan, in some cases, you might have turned your financial situation from a struggle to something a lot healthier since you initially took out the loan.

This might mean that you are looking to pay your loan off faster so you can cut down on the interest fees that are slowly but surely racking up with every repayment you make. But with fixed payment terms and scheduled payments, is there even a way to repay your loan early?

That is what we are here to help you with! We have put together a list of the best ways you can repay your loan faster. Alternatively, you can learn even more about everything you need to know when trying to pay off an existing installment loan by checking out Credit Ninja.

1. Make Bi-Weekly Not Monthly Payments

Instead of only paying towards your loan debt once a month, upping this to once a week means you get to submit payments that are half the cost, twice as often.

This can be hugely beneficial to those who are paid fortnightly, for a start, but it can also ensure that less interest is accrued while you are paying off the debt as the payments will be applied to your loan more frequently. Paying off your debt regularly will also help you budget your monthly funds. You can schedule which bills you need to settle on a particular date so that you won’t fall short on your other essential expenses.

Plus, making 26 payments every year means you will make one full extra payment for the year compared to monthly, which will shorten the loan!

2. Round Up Your Payments

You might think that adding an extra couple of cents onto your monthly payments will not make that much of a difference, but to that we say – you would actually be surprised.

The more you round up, of course, the faster you will pay off your loan without it feeling like you are having to make too many additional payments on top of your regular payments. If you can pay a bit more than your monthly bill, do so. It may help lessen your future payments and prevent your interest from building up.

Even just paying $50 towards your debt instead of $30 can make a big difference without feeling like you are losing too much from your budget.

3. Make Additional Payments

If you would prefer to make one-time, extra payments rather than trying to round up what you would usually pay off in the month, then you can do this as an alternative option.

This can also be a good idea for anyone who is doubtful about making bi-weekly payments instead of monthly payments as there is more flexibility to only pay off more when you have a little bit of extra money leftover in your budget for any given month.

So, if you have a birthday for which you are given some extra cash, for example, why not buy some beers and put the rest towards an additional payment to clear your loan quicker? To pay your loans quicker, try to make a habit of setting aside your extra money for additional payments. It can also be your security funds when you find yourself having insufficient cash to pay a monthly bill.

4. Refinance Your Loan

Something you can look into if you have noticed that the interest rates have dropped since you were originally given the terms for your loan is refinancing. This can be a great way to not only pay off your loan faster, but also to make sure that you are paying less interest! For instance, you can consider refinancing your current mortgage if you have more financial freedom. It could also be great for you if other payment terms seem more affordable.

The majority of refinancing options will include the ability to shorten the term of the loan which usually involves making higher payments for the last months of your loan term so that you pay it off quicker without affecting the interest rates or lowering them at least. You could save some money with this option rather than sticking to the original agreement you signed.

5. Do Some Overtime to Boost Your Income

The more money you have to pay towards your loan, the sooner you will pay it off. This is just simple logic. For instance, if you can settle a considerable amount in one payment, it may ease the interest accumulating on your loan. So, to make sure you have a higher amount of disposable income that you can set aside for paying back your loan once you have accounted for any other bills or expenses that are set to come out of your account each month, you could do some overtime.

This does not necessarily mean that you need to pick up some extra shifts at your current place of employment, although this is one of the more obvious ways to boost your income, but it could also mean taking up a side hustle to support your main source of income.

Selling your old, unwanted belongings on Ebay, for example, or setting up an Etsy shop where you can sell your artwork and paintings can be a great way to increase the amount of money you can afford to pay towards your loan debt at the end of each month.

Final Thoughts

Although it may seem like an overwhelming task, paying your loans isn’t too difficult to do. You can consider changing your payment schedules or refinancing your loan to ease your financial burden. Being smart about your money will help you pay off the debt you owe in no time.

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What You Need to Know About 1099-NEC Tax Forms

August 16, 2021

It is absolutely vital to keep on top of tax returns and providing all the correct and relevant information to the IRS. Failure to do this can, at best, lead to a fine and a slap on the wrist, or at worst, lead to prison time, huge fines, and assets being frozen. All organizations that have independent contractors must fill in the Form 1099-NEC, which is new this year, instead of the 1099-Misc of previous tax filing seasons.

A 1099-NEC must be used if an organization has made payments in excess of US$600 to a non-employee service, for example a contractor, freelances, or third party supplier. Similarly, a self-employed individual or contractor who has received over US$600 in non-employee compensation will also need to complete one of these forms.

Until this year, the 1099-Misc form was used to report miscellaneous income, including that related to self-employment (from both organization and individual). However, this year, the IRS has revived the 1099-NEC which has not been in use since 1982 as a dedicated for to declare non-employment income and expenditure.

Who needs to fill this in?

Organizations that:

Made payments to someone not an employee including bonuses, benefits, discretionary awards or payments)
Made payments for services in the course of business or trade
Made payments to an individual, corporation, partnership, or government
Paid at least US$600 to the above mentioned groups

Individuals who:

Receive any non-employment income (i.e. income not subject to the usual deductions for taxes, Medicare, 401K etc…)
This includes those who may have an employed job and well as self-employment

Deadlines

The Form 1099-NEC must be filed with the IRS is usually the end of January/beginning of February. For 2021, the deadline was the 1^st February. From the 12^th February the IRS began accepting and processing tax returns for 2020.

How to fill the Form 1099-NEC

Filling the form in is vital, with penalties applied for incorrectly filled in forms, and fines if the IRS is unable to properly scan in the information. One trick of the trade is to visit a specially dedicated sites that will ensure the form is filled in properly, and filed appropriately. This can help avoid any pitfalls that lead to fines, or worse.

Download the form from the IRS website. It goes through the information required:
- Recipient’s taxpayer identification Number (TIN)
- Account Number
- Amount of non-employee compensation
One form per contractor
Online filing for over 250 forms
For under 250 forms, these will need to be requested directly from the IRS (although is using a third party provider like QuickBooks they can facilitate this)

Keeping tax information organised throughout the year

This filing process can seem daunting, but by keeping all this information in order throughout the year completing these forms is straightforward and easy.

Keep paperwork together

This can either be in paper format, having a filing cabinet with sections for months, and different types of incomings and outgoings, for example business expenses, receipts, charitable donations and office supplies. This can also all be scanned in and kept electronically; whatever works best is the right course of action.

Make sure all financial statements are in one place; bank, employer, invoices, and freelance contracts. There may also be a need for mortgage statements, student loan statements, any investments, and social security statement.

Get the right forms from the IRS

There are many forms available in the IRS bank of forms that can be used at this time of year, and it is important that individuals and businesses fill in the correct ones. For freelancers and contractors, the Form 1099-NEC is one of the ones that is needed. Depending on individual circumstances, others may also be necessary.

Itemize deductions and expenses

This list can include contribution to retirement plans, donations to charity, healthcare expenses, mileage, real estate taxes, accountant fees, dependent children, and so on.

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How An Accountant Can Maximise Your Tax Returns

August 16, 2021

By Erika Rhein

If you’re the type of Aussie that’s always expecting more money back from their tax refunds, then you need to read this article. We know that being in control of our finances on our own can be hard. It will take you time, effort and you could be losing money by doing this task yourself. Remember that professionals will know more things than a regular human being that’s not an expert in the field. Therefore, you don’t need to feel guilty at all if you feel like you need an accountant to help you with your tax return.

As you might imagine, there are a lot of benefits of hiring an accountant for your business or managing your personal finances. But we will say that maximising your tax returns is the main advantage of hiring professional services. They will avoid any delays and will fill or report everything to the Australian Taxation Office (ATO) properly. You can make sure that you’ll be getting the tax refund you merit.

Let’s look at how an accountant can maximise your tax returns.

1. An Accountant Will Leave You Out Of Troubles

Playing the smart guy with the ATO will be something that you shouldn’t do. Sometimes people like to have a bigger refund by inflating their deductions. But this will be a tremendous mistake because doing a claim for something that you can’t prove you have spent your money on is a no-no. You need to have a bank statement, a receipt or an invoice to verify that you have used that money.

Another good point of choosing to work with a professional in tax deductions will be that they will know how to properly declare all your earnings. For instance, any money that you’ve made from any type of investment must be declared. Remember that if ATO notices that the information you’re giving doesn’t match, they will be questioning your tax return.

2. They Know Deductions Like The Back Of Their Hand

Are you aware of all the things that you can use for tax deductions? We can bet that you are not taking full advantage of that. But an accountant will do that for you without a problem. They will do every applicable deduction that you can have. For example, did you know that your cell phone bill and some expenses of your car can be claimed? Of course, not the full toll, but it will be a portion of what you have paid.

These are things that you can apply for, if you use your cell phone for work or if you travel for businesses in your car. Now that the home office has become truly popular due to COVID-19, there are some tax deductions that you can claim while working from home. And an accountant will make sure that you will have back all the money that you can.

3. More Time For You and Less Stress

Getting your finances in shape can be a task truly stressful. Also, it can take you a lot of time if you’re not a person with experience in that field. The chances of getting the tax return done wrong increases a lot without an accountant by your side. If you’re not that confident about doing this procedure by yourself, then an accountant is the best option.

Avoid headaches and researching because a professional will get your tax return done efficiently. Remember that you don’t have to take care and control everything. Avoid getting tangled, confused, and spending your time in something that you don’t understand. If you run a business, saving time and effort on this would be a must. Therefore, you should hire an accountant to help you with your finances.

4.They’ll Give You Financial Advice

Having a healthy relationship with your personal and business finances is a must. Believe it or not, there are a lot of people that don’t have an emergency fund and savings for their retirement. As well, a huge amount of the population has debts with the bank. An accountant, besides taking care of your tax return, will give you financial advice that you’ll find extremely helpful.

They can tell you what changes you can do to improve your savings and to improve your tax returns too. After having a good talk with your accountant, you can do changes that will upgrade your lifestyle, even a little bit. Remember to work with someone that you trust. Therefore, ask for accountant recommendations with your friends. Also, you can research on the internet to find one that suits your needs.

Did You Know That Accounting Fees Are Tax-Deductible?

Maybe you weren’t aware of this, but anything that you spend on your accountant would be tax-deductible. That’s an incentive from the government to encourage Australians to use accountant services to manage their tax return. If you were still doubting about hiring a professional to manage your finances, this is the sign that you were expecting.

See this fee as you’re going to pay as an investment. They will give you a fresh perspective about what’s going on in your business and personal finances. Also, accountants will put all their knowledge to boost your tax refund.And that will be something that you should pursue. So, get ready to get the most out of your tax return.

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About the Author

Erika Rhein is a writer and blogger by profession and writes on diverse topics. However, she always provides users with useful and informative articles in a legible format. She aims to achieve a difference through my writing.