Critics say Nicolas Cage is a lousy actor. We don’t know if that’s true, but we do know that he’s a lousy economist.
Cage has proven his Democrat bona fides by giving money to Al Gore, to the California Democratic State Central Committee, to Frank Lautenberg, and to others. On top of that, he’s been named Global Citizen of the Year by the United Nations. And, finally, he supports Amnesty International.
He’s such a loyal Democrat, in fact, that he follows the party’s economic policies in his personal life. With the same disastrous results.
Doug Ross has the details:
Actor Nicholas Cage lost his Bel-Air estate to foreclosure earlier this year. Two weeks ago, an anonymous buyer grabbed the mansion for $10.5 million in cash, less than a third of its original listing price.
Although Cage is reported to have earned $40 million in 2009 alone, he’s suing his former manager for collecting outsized fees and giving ruinous advice. For his part, the ex-manager claims Cage engaged on a “spending binge of epic proportions”, noting that in 2008 the actor had owned “15 palatial homes around the world, four yachts, an island in the Bahamas, a private Gulfstream jet and millions of dollars’ worth of art and jewelry.”
Rumor has it that Timothy Geithner will be leaving the Obama administration early next year. May we be the first to suggest that Nicolas Cage would be a worthy replacement.
Source: Newsmeat.com, BBC.co.uk, DirectorBlue
