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Pretty soon a czar will have to approve your bathroom break. Forget about Russia. The Soviet Union didn't have this many micro-managers. Welcome to the USSA.

I think you answered your own question - he is not smart enough.

Most of these "elite traders" have never even seen a trading floor. Of course, soon there will be nothing to see.

If he could trade or anyone else thought he could trade, he would have been a trader. Traders make a lot more money, so if he's a broker it's because he's no good as a trader.

4%? When was the last time you paid NYC taxes? It's higher now.

Read the article. He did save money, but he was fired two years ago and his savings is just now running out. All in all, except for not finishing college and buying instead of renting in NYC, this guy was pretty responsible.

Locals trade for their own accounts. That's not the point here. The guy was not a trader to begin with. He was a floor broker and brokers aren't traders.

This article is an example of how stupid reporters are. Read the article carefully, they call him a "trader" but then say he has loyal customers. Pit traders don't have customers. BROKERS have customers. This guy was a floor broker, not a trader. He's a broker with no college...

Have you actually met anyone from a third world country? These are the most resourceful people in the world because they either figure out how to make it work or die. Unlike shiftless westerners, they can't vote in a politician who will rob the productive on their behalf. Third world...

Agreed, but good luck finding a bid for NY.

No, that is not a hedge fund. You're a proprietary trading company. If you're trading other people's money as well and each of them is an investing member in your firm, then that's still considered a prop trading firm. If you run people's money and they are not direct silent partners...

I think he was closer to fascist. Under socialism, the state owns the means of production. Under fascism, the means of production is privately owned but controlled by the state. Yes, the difference is paper thin to me. But, it seems that under Obama we're getting a lot closer to the...

I find myself generally agreeing with you. But, how is fascism worse exactly?

For about 5 minutes. Then all the people getting taxed to death are going to figure out it's not worth it and leave. Then the waste of space that remains will be living in their own filth and whining for handouts from the Great Leader.

No, what they really mean is that the tax hikes will come in a form so confusing that the average dumbocrat doesn't realize his taxes have increased.

"The surge of interest in a VAT is testament to the extraordinary depth of the nation's money troubles." Bullshit. The interest in taxing anything that moves is a testament to this arrogant government's proclivity for stealing and spending. That said, I would prefer a consumption tax to...

We will never eradicate poverty because we always perceive poverty on a relative basis. You sort of allude to that in the second paragraph. It's a state of mind because it is a relative perception. You can't force people to be productive, but you can provide huge disincentives to be...

I think a lot of people overstate the role of luck (I don't know about Karma - seems like you create that yourself). I was lucky that my family immigrated to the United States. But, I was extremely unlucky in many many other ways. It was way easier to not accomplish anything. Also...

MMs and specialists make the exchange. Exchanges rely on them to quote to bring volume to the exchange and the exchange is the advocacy group for specialist and market makers. The MMs and specialists essentially are the exchange. Things like locate requirements and uptick rules (which they...

I do help. I hire them. Most people would like to work. Unfortunately, minimum wage prevents a lot of these people from ever getting a job and learning even basic skills. If minimum wage is $7/hour the guy whose labour is only worth $3/hour isn't getting hired an will learn no skills which...