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EVER WONDERED WHAT THE INTERNET ECONOMY IS?

McKinsey estimates that the 200 million-person global economy has reached $8-trillion.  The report is limited to the G-8 countries plus Brazil, China, India and South Korea.

·        Private consumption refers to, electronic equipment, e-commerce, broadband subscriptions, mobile internet and hardware and software consumption

·        Private investment refers to, from telecommunications industry and maintenance of extranet, intranet and websites

·        Public expenditure refers to, government buying and spending of hardware and services

·        Trade refers to, exports of internet equipment and b-2-b services with overseas companies

The internet contributes more to the economy than mining, utilities, agriculture or education.  In France since the mid-1990’s, McKinsey states that the internet created twice the number of jobs that it destroyed.  World leader of the online industry is the United States with 30% of global internet revenues, but the UK is the world leader in online retail sales.  China’s and India’s internet economies rely on exporting online services for most of their economies.

NOTE THAT REAL ESTATE HAS THE GREATEST WEIGHT IN THE GDP.... 

CONGRESSIONAL MEDAL OF HONOR WINNER

You might remember a news story several months ago about a crotchety old man who defied his homeowners association and refused to take down
the flagpole on his property and the large flag that flew on it. Now you can
find out who, exactly, that old man was.
On June 15, 1919, Van T. Barfoot was born in Edinburg -- probably
didn't make much news back then. twenty-five years later, on May 23, 1944, near Carano , Italy , Van T. Barfoot, who had enlisted in the US Army in 1940, set out to
flank German machine gun positions from which fire was coming down on his fellow soldiers. He advanced through a minefield, took out three enemy machine gun positions and returned with 17 prisoners of war.

If that wasn't enough for a day's work, he later took on and
destroyed three German tanks sent to retake the machine gun positions.

That probably didn't make much news either, given the scope of the
war, but it did earn Van T. Barfoot, who retired as a colonel after
also serving in Korea and Vietnam , a Congressional Medal of Honor.

What did make news was a neighborhood association's quibble with how the 90-year-old veteran chose to fly the American flag outside his suburban Virginia home. Seems the rules said a flag could be flown on a house-mounted bracket, but, for decorum, items such as Barfoot's 21-foot flagpole were unsuitable.

He had been denied a permit for the pole, erected it anyway and was facing court action if he didn't take it down. Since the story made national TV, the neighborhood association has rethought its position and agreed to indulge this old hero who dwells among them.

"In the time I have left I plan to continue to fly the American flag without interference," Barfoot told The Associated Press. As well he should. And if any of his neighbors still takes a notion to contest him, they might want to read his Medal of Honor citation. It indicates he's not real good at backing down.
Van T. Barfoot's Medal of Honor citation:
This 1944 Medal of Honor citation, listed with the National Medal of Honor Society, is for Second Lieutenant Van T. Barfoot, 157th Infantry, 45th Infantry:
WE ONLY LIVE IN THE LAND OF THE FREE... BECAUSE OF THE BRAVE! AND, BECAUSE OF OLD MEN LIKE VAN BARFOOT!