Markets overshoot on the downside, too
Finance, now oversold?
Wall Street's New Pariah Status (NYTimes):
...
As money and prestige drain out of Wall Street, and as layoffs mount, other careers are starting to seem more appealing. Mr. Chen [former Bear VP] has helped start a retail company, GreenSoul Shoes, that sells sandals made by Cambodian villagers out of discarded rubber tires.
...
Robert J. Birnbaum, the former president of the New York Stock Exchange, sees an upside to Wall Street’s diminished reputation.
“It’s taken a hit, but so what?” he said. “We don’t need all the bright people going to Wall Street, chasing money. There’s a lot of things bright people can do. Like find a cure for cancer.”
I bet the grotesquely named sandals business never makes a dollar before going under.
ReplyDeleteA rubber strap over a rubber sole is a low margin, low tech, and low differentiation business. What makes the proprietor think his Cambodian recycled-rubber sandals are any better than the sale-price $7 JCrew sandals I wear, made next door in Vietnam? That they're made of recycled rubber, or by Cambodians make me want to wear those sandals less, not more.
"find a cure for cancer.” Something
ReplyDeletesmart people can do but smart people after money won't do. A great example of the free market being less productive. In a perfectly free market medical science would be much less than it is.
WS has been a pariah since the Jewish take-over.
ReplyDelete@2
ReplyDeleteWell in a perfectly free market property rights would be so assigned that medical research would reap the bonanza that it could claim, rather than being overregulated and price-ceilinged into a corner.
@3
ReplyDeleteSince when was Wall Street not heavily influenced by Jews? (e.g., see Werner Sombart's Jews and Modern Capitalism).
socserv.mcmaster.ca/~econ/ugcm/3ll3/sombart/jews.pdf
My non-predatory good-hearted Jewish high school history teacher used to complain that Peter Stuyvesant attempted to expel Jews in the 1600s from New Amsterdam/New York City.
In his liberal innocence he was unawares of the very real financial and mercantile crimes Jews were committing, the Madoffs of the 1600s, the Dutch Tulip Bubble, etc.
Problem is, financial manipulations are EXTREMELY LUCRATIVE, easy to do (for insiders), and the boundary between crime and fair profit unclear (see George Soros stating a good currency trader does indifference to wrecking entire countries.)
In the past I've compared the financial sector to nuclear reactors which require EXTREMELY TIGHT OVERSIGHT.
IMO, the best result comes with honest WASP regulators overseeing a Jewish Wall Street, exploiting the cultural comparative advantages of the two races.
What really caused the present financial crisis is, Jews took over the regulatory agencies, overseeing themselves in the 1990s. Not good.
Worldwide financial bubbles in commodity, technology, housing, oil follow, with Wall Street riding parasitic and predator on the real industry of the entire planet. Finally KABOOM, an implosion, with everything coming to pieces.
GS, Lehman, Lazard, Salomon, etc. have been around as long as the goyisher banks but were sidelined until the 80s.
ReplyDeleteI don't know of any goyishe banks. All the major ones in the West whose ownership I am knowledgeable about are Jewish-controlled, usually by a family or extended family.
ReplyDeleteGoyische financial firms do exist, such as Buffet's BH, Fidelity's Johnsons, but major banks??? Don't know of any, please name them if you know, along with names of individuals in control (ownership stake, board dynamics, etc), I'm curious.
As it stands, genuine shareholder lists are unobtainable by the public.
My understanding is, many of the major banks in the non-Western world are Jewish-controlled or heavily Jewish invested through Wall Street.
Hi,Steve.
ReplyDeleteI read or browse dozens of blogs and I have never seen such blatant antisemitism as on yours: strange how these Jew haters converge to you.
Actually not so strange given your obsession with race, QI,etc.
Can you guess the sort of reputation you are acquiring, not only in Physics departments, not only in the U.S.?
Indeed, I learned about you from a German colleague who is very upset by antisemitism.
Yes,a German. Ironic, eh?
I may have to start comment moderation if this sort of thing continues. I haven't had a problem until just recently, so your German colleague must be very vigilant.
ReplyDeleteHi, Steve.
ReplyDeleteActually my colleague directed me to your blog a long time ago because he likes it !
Although I live in France we have a common project and we communicate almost daily.
He mentioned these unpleasant comments on your blog in his last email a few hours ago, but I'm happy to see you don't endorse them and I'm sure he'll be relieved too.
"Can you guess the sort of reputation you are acquiring, not only in Physics departments, not only in the U.S.?"
ReplyDeleteThis is a threat. Typical.
Now facts are anti-semitism. Critisizing Israel is anti-semitism too
Whoever would deny that Wall Street today is not predominately Jewish would deny the NBA is predominately black. Its commissioner David Stern is an exception, of course.
Good comment above.
ReplyDelete"Now facts are anti-semitism."
The essence of political correctness. The facts and arguments aren't refuted (because generally speaking, they're unrefutable), someone simply cries racism (in this case, anti-semitism.)
"This is a threat. Typical."
The threat is real, backed by the power of the ruling group to punish those who flout its speech code. The blogowner wisely self-censors, at least to a degree. We're anonymous, he's not. The members of the troupe must know their place because the alpha male WILL ATTACK.
"but major banks???"
ReplyDeleteJ P Morgan Chase
Morgan Stanley
Citibank (despite Weill's tenure.)
BNY Mellon
Deutsche Bank
CSB First Boston
US Bank
Wells Fargo
Fortis
Credit Agricola
Banco Santander
Mitsubishi UFJ
Bank of China
Bank of China Hong Kong
Bank Muscat
HSBC
Royal Bank of Scotland
Union Bank of Switzerland
BNP Paribas
your local credit union
any bank outside the commonwealth and israel.
etc.
etc.
etc.
You give anti-Semites a bad name.
Investment banks:
Lehman
GS
Merrill Lynch (g)
J P Morgan (g)
Lazard Frere
Morgan Stanley (g)
Bear Stearns
Salomon Bros.
Dear Anonymous 3:45AM,
ReplyDeleteSimply listing banks does not identify ownership.
I see multiple banks on that list I know to be Jewish-controlled, and others to be heavily invested by Jewish-controlled banks. Unfortunately, the essential is that SHAREHOLDER LISTS ARE NON-PUBLIC.
Of all those listed, there are only five which were founded by Jews or have Jewish CEOs.
ReplyDeleteI can't take you seriously.
Hi friends,
ReplyDeleteWhat would be a better name for our fledging shoe business? We are very much open to suggestions and know that lots of folks have some great ideas.
hcl is absolutely right that our artisans make a relatively low tech product but it serves their community quite well.
We hope our consumers will believe in our mission of creating a sustainable social enterprise and will support our efforts to deliver "a basket" of goods to folks less fortunate than us.
Thank you so much for your ear!
Stephen Chen
--
Stephen Chen
GreenSoul Shoes
stephen@greensoulshoes.org
www.greensoulshoes.org
Follow me on Twitter: @greensoul_steve
it is the GreenSoul Shoes team www.greensoulshoes.org).