A reader named Medusa wrote me and, to keep it short, explained that I shouldn't believe people should be rich because the Bible is against rich people, that I was going to die a miserable, lonely old man with no one who loved me because I saved my money instead of spending it, and that after reading a profile I wrote based on Federal Reserve data of the Capitalist Class in the United States, she was starting to consider the possibility that the rich were nothing but oppressors who steal from … [Read more...]
Response to What Is Probably the Most Ignorant Message I’ve Received In 10 Years of Writing Finance Articles
July 26, 2010 By 2 Comments
The Coming Collapse of the Middle Class – A Lecture by Elizabeth Warren
July 24, 2010 By Leave a Comment
Want to know why the middle class is disappearing despite families now having two people in the work force instead of one? Here is Elizabeth Warren discussing in an hour-long lecture at Berkeley. She is the author of The Two Income Trap. The only thing I really take issue with is the fact the savings rate is horribly misleading for the reasons I explained in this blog over at About.com. For example, all of the money Warren Buffett has in shares of Berkshire Hathaway, which is nearly … [Read more...]
Elizabeth Warren Makes Timmy Geithner Squirm …
July 24, 2010 By Leave a Comment
I love and adore this woman. Even though I completely understand why AIG was bailed out at 100 cents on the dollars, I'm glad she is asking questions that need to be posed for the sake of accountability. (Regarding AIG: Even though it wasn't morally right that Goldman and other counterparties used Federal money to turn worthless credit default swaps into full value investments, had the Treasury not done that, the entire system would have collapsed instantly. I remember sitting in my office … [Read more...]
I'm a private investor who loves architecture, furniture, clothes, history, philosophy, books, cooking, and music as much as I do finance. 
