Tuesday, May 24, 2016

The Future of Goldman Sachs

May 23, 2016
CNBC: It’s the end of Goldman Sachs as we know it

"For Goldman Sachs, the question is: What will they become when they grow up," said CLSA banks analyst Mike Mayo.

The answer is simple.

Continuing to be naughty. Throwing a shoe to their clients. Betting on that shoe to fall. Throwing another shoe to their clients. Actively betting that shoe will fall too. Patiently waiting for that other shoe to drop. Profiting off that shoe's demise. You know, doing God's work.

May 23, 2016
Time: 10 Ways Rich People Are Worse Off Than You

1. Their Kids Might Grow Up to Be Spoiled

Being wealthy can have a downside for your kids. One wealthy respondent to a study conducted by Boston College’s Center on Wealth and Philanthropy worried, “Money could mess them up — give them a sense of entitlement, prevent them from developing a strong sense of empathy and compassion.”

I'm continually amazed at the sheer number of unsolvable first world problems. Take this one, for example. Other than simply handing less money to children, giving all that money away to charity instead, or simply burning all that money (presumably with a paid team of off-duty fireman standing by to control the blaze), there really is no workable solution. Thankfully, the majority of people on this planet are not burdened with the horror that money can be.

As a side note, here is yet another unsolvable first world problem.

Although you might not worry about true poverty, you might always feel like you’re one stock market crash away from wearing rags.

This is a horrible burden for the wealthy that the poor can never truly understand. Few people wearing rags worry about wearing rags. It just is.


dearieme said...

We sent our daughter to a state school. Her new friends said "You live on Suchandsuch Road, you must be rich." Then we moved her to a private school. "You live on Suchandsuch Road, you must be poor."

Stagflationary Mark said...


Since I live in America, and our infrastructure is not what it once was, I'm just going to assume that Suchandsuch Road is just not being maintained very well. ;)

A few years after I moved to Seattle, our Suchandsuch Bridge sank.