Gordon Ghetto's Profile
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Entry: The Obama Portfolio
posted by Gordon Ghetto
Mar 10, 2009 11:21AM
53- Excellent comment. The stagnation and decline of working class and middle class quality of life has been in its initial stages in the US since the '70's. The rest of the world got in on the industrialization game that made us so prosperous, and as a result some are worse off than they would be otherwise. I don't know what the long-term effects will be, but I suspect that many of the American masses will just have to take what is given to them until skill-adjusted wages even out world-wide. This could take many decades, although the current crises is redefining a lot of expectations.
Entry: The Obama Portfolio
posted by Gordon Ghetto
Mar 10, 2009 11:43AM
71- I agree that welfare has been greatly reduced, but low income Americans (and Americans in general) get an effective subsidy from the government in the form of the deficit. This, and the purchase by foreigners of mortgage-backed securities, of course allowed some sectors, such as construction, real estate, aerospace, etc., as well as consumption-related sectors which are fueled by their wages, to flourish beyond economic rationality.
Entry: The Obama Rally!
posted by Gordon Ghetto
Mar 12, 2009 4:48PM
When do the zero down, neg am, stated income arm's come back?
Entry: He's So Buff
posted by Gordon Ghetto
Mar 16, 2009 12:19AM
26- Interesting point. However, regarding your next to last paragraph, keep in mind that it is extremely difficult, even under Bush level income taxes, to accumulate a large fortune through ordinary income. Capital gains, preferably deferred for years until the sale of an asset, is the tax that an aspiring mogul should be trying pay.
Entry: Weekend Dealbreaker: Now Just Simmer Down. I'm Sure It's Nothing Like It Sounds.
posted by Gordon Ghetto
Mar 22, 2009 11:00AM
19- You bring up an interesting point. America is such a vast country that we need to make widely known a conversion scale to account for the difference in cost of living between say, North Dakota and New York. A compensation limit of even $250,000 will still seem unfair to many in rural areas, as it would be a large amount in their communities, despite the fact that someone in New York with student loans, a mortgage, etc., could have trouble getting by with that amount.
Entry: Give This Guy Some Beer Money
posted by Gordon Ghetto
Apr 13, 2009 12:05PM
"At my age, you don't get many more chances to swing for the fences."
Perhaps this was just a poor choice of words, but this is an example of what the psychologist was talking about. As I have learned the hard way, starting a business rarely results in an immediate, large success. To use his analogy, you have to plan on taking lots of swings and, if you are lucky, start out by getting some singles.
Entry: Is Anyone Else Getting Tired Of Watching Taleb's Lips Moving All The Time?
posted by Gordon Ghetto
Apr 15, 2009 12:18PM
Taleb is a moron whose intellectual rigor is comparable to that of a conspiracy theorist. He claims that LBO's are Ponzi schemes because investors buy companies with the intention of someday selling them to other investors. By that logic, McDonald's is a Ponzi scheme because its franchisees buy hamburgers with the intention of selling them to other people. Or, as the moron would say, it has a "Ponzi-attribute."
Entry: "What Is Going To Happen To The Other Kids, Huh?"
posted by Gordon Ghetto
Apr 16, 2009 7:05PM
GM will be given to the workers.
Entry: This Shound Be Fun
posted by Gordon Ghetto
Apr 21, 2009 7:55PM
19- So true. I was talking with a science PhD student recently about Wall Street and he started talking about "Morgan Stearns." Was he referring to JP Morgan in the manner in which Dealbreaker talks about Bank of Amerillwide? Or, did he think that was actually the name of a real company? Sadly, the context of his remarks leads me to think the second scenario is the case. All that the average American knows is that they're pissed off that other people are richer than them.
Entry: Layoffs Watch '09: WB/WFC
posted by Gordon Ghetto
Apr 23, 2009 11:08AM
Did Wachovia ban DB? Not many comments.
Entry: Tears In Southern Connecticut
posted by Gordon Ghetto
May 14, 2009 12:30PM
@1- Posts like that are why I read Dealbreaker.
Entry: The Tax Man Is Looking For A New Target And This Time It's VC
posted by Gordon Ghetto
Jun 05, 2009 5:32PM
Venture capital firms are having trouble because they do not think outside the box enough, despite allegedly investing in innovation. Innovation is not funding another social networking site. Innovation is thinking about the widest range of possibilities and picking the best one. Specifically, VC firms should invest in industries other than technology. Almost all are focused exclusively on IT, biotech, communication technology, etc. They should really be called technology capitalists.
Entry: Layoffs Watch '09: JPMorgan
posted by Gordon Ghetto
Jun 19, 2009 12:21PM
Kind of sad that no one else has commented yet.
Entry: Write-Offs: 07.31.09
posted by Gordon Ghetto
Aug 02, 2009 6:56PM
On another note, this show looks hilarious, both intentionally and unintentionally. I expect maximum ridicule from DB readers.
www.megan.vh1.com
Entry: Ex-Wall Streeters Struggling With New Career Identities, Pissant Children
posted by Gordon Ghetto
Sep 18, 2009 5:05PM
I'm glad these weaklings are gone, especially the ones who have decided finance is immoral now that they can't get jobs in it.
Entry: Ex-Wall Streeters Struggling With New Career Identities, Pissant Children
posted by Gordon Ghetto
Sep 18, 2009 8:06PM
@56- Not sure I understand exactly what you are saying (by "are" do you mean "of"?). For the record, however, I applaud the taxi entrepreneur's decision to start a business. I was referring more to those in the article like the MIT student who said, "Now I won't make as much money, but I can go home at night and feel good about what I do." I feel great about what I do, in the day and the night, at home and elsewhere. Especially when I hear about someone flogging some pipe dream of solar power replacing oil.
Entry: Write-Offs: 10.07.09
posted by Gordon Ghetto
Oct 07, 2009 7:46PM
I guess this is CG's little act of revenge for Krawcheck saying they didn't go back very far.
Entry: Valuation Exercises At Wharton
posted by Gordon Ghetto
Oct 13, 2009 6:27PM
@24- Much cheaper to make those degrees Wharton degrees retroactively. Kind of like a Latin American country revving up the printing press to get out of debt.
Entry: Valuation Exercises At Wharton
posted by Gordon Ghetto
Oct 13, 2009 6:31PM
Sorry, meant to reference @21. So close and yet so far.
Entry: Which Part Of "Bank Of America" Did You Not Understand?
posted by Gordon Ghetto
Mar 09, 2009 11:47AM
19, 21- Great posts. Think that relying on the Chinese to fund the deficit so we can buy many basic necessities from them would count as dependence?