1%

The venture capitalist will allow that when he compared progressive politics to Kristallnacht, he may have exaggerated slightly: He knows the 1% will not literally go extinct, for mathematical if for no other reasons. But just in case, he’s come up with a plan that will keep them protected. Read more »

  • 06 Feb 2014 at 1:53 PM

Man Of Many Enthusiams Enthusiastic About Last Month

He’s not quite ready to throw a party or sing, but Jeffrey Gundlach sure is glad he was wrong about the Fed taper. Read more »

As you may have heard, a couple weeks back venture capitalist Tom Perkins wrote a letter to the editor in the Wall Street Journal warning that the persecution of the 1% today bears many “parallels” to “fascist Nazi Germany” and “its war on its one percent,” i.e. the Jews. As is typically the case when one throws around the term “Kristallnacht” and suggests that attacks on Danielle Steele in the San Francisco Chronicle are not unlike attacks on Jews during WWII, Perkins took a lot of heat for his op-ed, with the company he founded which still bears his name (along with those of a few others) basically saying they’ve never heard of the guy.

What did billionaire Sam Zell think of Perkins’s comments, BloombergTV’s Betty Liu asked today? 1. That Perkins is right, and the 1% are being “pummeled” because it’s “politically convenient.” and 2. That while we’re on the subject of the 1%, the people attacking them should instead being “emulating” them, because “the 1% work harder,” which brings us to this delightful bit of dialogue:

Liu: But Sam, try telling that to the person who is on minimum wage, who is living below the poverty line, that they should try to emulate the 1%. How are they going to get there?
Zell: Oh, the stories are rampant of people who started with a candy store and took it from there. There are lots of people who have the ambition and have the motivation and have succeeded. Read more »

It’s not that Goldman Sachs wouldn’t put Xi Jinping’s kid on the payroll. It’s just that the bank won’t be so painfully obvious about why. Read more »