Tag Archives: finance

Greg Smith of Goldman Sachs Departs


Everyone knows the story of the Goldman Sachs exec who published an op-ed in the NYT explaining why he left.
On the one hand, it’s impossible to know if he did this out of conscience or…. because the subpoenas were coming. And this was a way of branding himself as more ethical than thou.
It&#133 Read the rest

Posted on by TheLastPsychiatrist | Tagged , , | 7 Comments

When rich kids can’t find jobs, it means socialism has failed.

The Economist reports on 40% youth unemployment in Spain.

MARIA GIL ULLDEMOLINS is a smart, confident young woman. She has one degree from Britain and is about to conclude another in her native Spain. And she feels that she has no future.
Ms Ulldemolins belongs to a generation of young Spaniards who feel that the implicit contract they

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Posted on by Pastabagel | Tagged , , , , , | 22 Comments

Framing Deficit Debates

The United States is in debt and running a deficit. Two parties frame the situation differently to define their solutions as correct and hide their subjectivity.
Democrats frame a deficit problem as “Spending more than we take in” – or if in a particularly taxing mood “Taking in less than we spend.” The logical solution is to raise taxes,&#133 Read the rest

Posted on by xiphoidmaneuver | Tagged , , , , | 21 Comments

Warren Buffett wants to be taxed on this, so you won’t tax him on that.

Warren Buffett wants us to stop coddling the super-rich. He argues for superlatively higher taxes on those with incomes greater than $1 million a year.

Since 1992, the I.R.S. has compiled data from the returns of the 400 Americans reporting the largest income. In 1992, the top 400 had aggregate taxable income of $16.9 billion and paid federal

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Posted on by Pastabagel | Tagged , , , , , , , | 42 Comments

Credit Ratings, Market Crashes, and the Cover Story

Standard & Poor’s downgraded the US government’s credit from “Supermassively Awesome” to “Slightly Less Supermassively Awesome But Still Totally Great”. Markets responded as you’d expect, with a blind irrational panic, selling out of stocks and corporate debt and buying US Treasuries. One of the lesser known underlying assumptions of the Efficient Market Hypothesis is that under no circumstances do&#133 Read the rest

Posted on by Pastabagel | Tagged , , , , | 26 Comments

8 Reasons To Hate Rich People

The personal finance magazine Kiplinger’s– which usually contains stories like “Ten Hilarious Tax Deductions” and “How To Get A Bond Fund Out Of Her Clothes” goes off the path to offer “8 Outrageous Executive Perks.”
It’s a traffic getter, I’ll admit– and when it gets featured on the front page of Yahoo it affords 2135 people the opportunity&#133 Read the rest

Posted on by TheLastPsychiatrist | Tagged , , , , , , | 30 Comments

Physics Envy May Be Hazardous To Your Health– And Economy

A previously empty bucket.  A man has filled that bucket only 50 red balls and 50 black balls (but you can’t see inside as you are picking.)  Choose a color, red or black; now reach in to pull out a ball.  If the ball you pick matches the color you chose, you win $10000.
1. Which color should you&#133 Read the rest

Posted on by TheLastPsychiatrist | Tagged , , , , , | 20 Comments

A G-Zero World: Mercantilism

Page 2 of Foreign Affairs, Ian Bremmer and Nouriel Roubini write:

This is not a G-20 world… Nor is there a viable G-2.. [or] G3 alternative…We are now living in a G-Zero world, one in which no single country or bloc of countries has the political and economic leverage — or the will — to drive a truly

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“Honestly, I thought they were my lawyers.” Read the fine print.

7/10 were Democrats

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