Warning: Do not watch this if you have not seen movie, plan to soon, and don’t want spoilers.
Otherwise, if you want to save $14 a head and an hour and forty-five minutes, this is a decent substitute for one of the better movies of the last year.
The consequences of boomer overconsumption, underinvestment, and appetite for risk reveal themselves every time a bridge or bank collapses, but can be summarized in America’s prolonged economic mediocrity. Finding decent growth requires stretching all the way back to the 1990s, and even so, the 1990s barely edged out 1970s’ squalor on a per capita GDP basis. Thanks to boomer policies, the new normal is 1.6 percent real growth, well below the 2.5 to 3.5 percent rates prevailing from the 1950s to the 1980s. For the young, the price will be incomes 30 percent to 50 percent lower than they could have been.
Concealing and Revealing
by Andrew P. Napolitano, March 02, 2017
Enemy of the Year: Why Russia?
What’s up with the current Russophobia craze?
by Justin Raimondo, March 01, 2017
In Afghanistan, America’s Biggest Foe Is Self-Deception
William Astore and Tom Engelhardt, March 01, 2017
For those who do not remember: SAC Capital was once one of the most powerful hedge funds on Wall Street. Cohen, its fabled steward, was different from the other colossi of the industry (George Soros, Paul Tudor Jones) in that he never seemed to have a grand unified field theory of investing. Rather, he had a talent for reading the market’s movements and a freakishly high threshold for tolerating risk.
And, miraculously, he was on the right side of almost every transaction — “something that seemed, at least on the surface, to be impossible,” Kolhatkar writes. This improbable winning streak eventually got the F.B.I.’s attention, when it was investigating insider trading at a different hedge fund, the Galleon Group, and managed to lock up its chief.
But Cohen never faced a criminal charge. The most the government could do was order SAC Capital to shut down in 2013 and fine it $1.8 billion — a figure that sounds like an awful lot until you learn that Cohen had almost $10 billion of his own money left over, which he could still trade and invest as a private family office.