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Recessions from 1900-1920 - seven Recessions from 2000-2020 - two The numbers get far bigger for the former if you go back to say 1880 versus 1980. Oh, and we have the highest level of GDP per capita and wealth overall as we've ever had. Not that we can't do a much better job of wealth equality...

A pretty big chunk of us became entrepreneurs. It's not terribly hard to start a company that's at $100K EBITDA in a couple years and has 50% CAGR up to at least mid 7 figures, so in a decade or so you're doing pretty well...or you sell or get venture funding and own a smaller piece of a much...

You have to consider that the person with the quals that get into banking have any number of other alternative jobs at that comp level, and btw "bankers hours" for an analyst or associate are 80 hours a week. It's a bit disingenuous to compare someone who worked their behind off in high school...

There just isn't any money to be made in small numbers in that space. Calculate how much a MM earns buying at the bid and selling at the ask on $600k and you probably have your answer. BTW, if you're at IB they have some settings you have to change to get actual bid/ask. I don't remember exactly...

Actually you're more likely to resort to debt the more stressed you are. That said, Chicago has climbed to just under investment grade and is on the upswing, but they've got a ways to go since they started in a big hole. I'm not sure hedge funds really help your tax base a lot. IL does have...

Every major city sells bonds, and a bunch of minor ones as well. And why not take advantage of low interest rates, especially if previous bonds are callable?

Again, what specific law, specific person, and specific incident do you have as an example? There's no "sidestepping" on my part when I ask you that same simple question now four times and you're completely and utterly unable to answer it. Just answer the damn question, it should be so simple...

Again, person and law. Third time's the charm maybe? Can't be that hard, you're so certain of yourself you must have based that on a solid understanding of the law?

Again, name a specific law and a specific person. Simple ask isn't it? Lets get even more specific and ask what CDS laws were broken? SEC can't enforce a law that doesn't exist, they can only pass regulations to implement laws passed by Congress and signed by the President. There were no such...

Which specific laws were broken and by whom that weren't prosecuted? The problem was deregulation that meant most of the damage was caused by actions that were perfectly legal at the time. Can't blow a whistle on someone following existing laws!

They don't published "the algorithm" nor are the mere mortals that work "customer service" there provided access to any information about what goes on inside of it. They will literally tell you "the algorithm" decided to autoliquidate and that they can't tell you any more. It also autoliquidates...

I plan to be in the South Pacific on my sailboat with a fishing pole. Mahi mahi tastes so much better than goat!:D

I know you preppers have wet dreams about the destruction of civilization but the rest of us live in a reality where we don't just wake up one day to surprisingly find the world's largest economy by GDP and source of much of the worlds innovation suddenly lost its reserve currency status...

You're discussing modern portfolio theory with someone who doesn't grasp what a Sharpe Ratio is. It's like trying to explain general relatively to a 5 year old who thinks they know better than you

We probably need to determine if you are advocating against the fractional reserve system we have now? If so, since you didn't indicate an alternative it would have to be going back to a system where you couldn't lend anything more than you had in gold (or some other mineral) to back it up...

I don't really disagree with any of that except the idea that China and Russia are considering returning to a gold standard, if that's what you're actually even saying there. My point is really along the lines of the Churchill quote, "Democracy is the worst form of government, except for all...

Absolutely. Additionally they generally have a hurdle rate that they have to clear before they can get any of their incentive percentage and that is almost never tied to the S&P but instead indexed to some form of the risk free rate. Hedge funds aren't really designed for investors of the...

Are you implying that Russia and China are planning to go back to the gold standard? Countries buy and sell gold for a variety of reasons, many related to manipulating their currency value in relation to other currencies. Obviously a country's ability to repay it's debt impacts it's ability to...

Given that hedge funds fundamentally don't attempt to outperform the S&P 500 in up markets, one wonders if the author is actually ignorant or just being obtuse. Sounds like someone who couldn't get a job at a hedge fund and is still a bit bitter about that "wealth management"job they ended up in...

Japan also went from a completely destroyed, literally nuked, country to one of the top GDP per capita countries in the world, where they remain. That's not a bad place to be, and wouldn't have happened if they had eschewed debt as you seem to suggest they should have. And please realize that...