Ewwww...Poor People

I'm gonna need some help with this. A new app dropped this week and it has the whole Internet up in arms with righteous indignation and moral outrage. Thing is, it's actually pretty useful (or will be when it emerges from Beta testing). The app I'm referring to is called Ghetto Tracker and ostensibly serves the purpose of keeping folks out of the bad parts of town.

Unfortunately, many in the media have seized on the catchy title and made the case that the app's only purpose is to help rich people avoid poor people, to further oppress the poor, yada, yada, yada. I can think of at least one instance where they're dead wrong, and I'm sure there are many others. The one that springs to mind for me is my hometown: New Orleans.

New Orleans gets about 10 million visitors per year. That's a lot for a town of less than 400,000. New Orleans has the added distinction of one of the highest per capita murder rates in the U.S. This is obviously not good for tourism. Add to that fact that New Orleans has no "wrong side of town". Mere blocks away from the million dollar mansions of the Garden District is a war zone to rival Kabul.

An Econ Professor, Prospective IB's, And The 99%

It’s almost been a year since I began with WSO and I think I’ve come to get a feeling about what’s it’s like to go through the IB process. Perhaps some go into college with nothing more than a pipe dream of owning a corner office as head of an IB team. At one time I know I had similar aspirations but my later experiences in trading wiped that out like a shaken Etch-A-Sketch. However, I want to share with you monkey's a different perspective from a London Economics Professor who shares their observations on socially awkward quants, brainwashing of prospective IB's, and my take on the 99% of those who fail. Read on to see the whole controversy with a link to the full version complete w/Q&A…

The Wealthy are Underpaid

The New York Times Magazine recently published a particularly interesting and timely piece on the role and importance of the wealthy in our nation. Writer Adam Davidson interviewed former Bain Capital employee Edward Conard, whose book "Unintended Consequences: Why Everything You've Been Told About the Economy is Wrong" will be published next month, in order to gain some perspective from a member of the class that some claim are ruining our democracy.

We need a sugartax!

This is disgusting. Why can't people eat healthier and work out a couple of days a week? I don't want to pay even more taxes to fund lazy fatasses


A Banker Leaves a 1% Tip to Show Disdain for 99%

Hello everyone,

Today, it surfaced that a banker who was outed by an employee left a 1% tip at a restaurant and then left an insulting statement on the receipt for the waiter as well. Seems he hates the 99% and wallows in being in the top 1%.

Here's the link to the article:


No, Entrepreneurs Like Steve Jobs Do Not 'Create Jobs'

An interesting article given the current debate over extending and expanding the Obama payroll tax cut at the expense of top earners. As a serial entrepreneur and MBB vet (just so you don't think I'm a pinko), I wholeheartedly agree.


Concessions for Taxing The 1%

In the near future, the bush tax cuts will expire and another debt ceiling debate will begin. With that being said, I just do not see the top 1%, or even the .01%, escaping higher taxes. Though, is there any way America can coax the rich into willfully paying higher taxes?

What if we could offer minute public benefits to those that have to pay higher taxes? For instance, take this short list:

- What if the 1%ers became eligible to park in handicap parking spaces for 2 years.

- Or, the .01%ers got expedited passport service for free

Peter Schiff takes on the 99%

Peter Schiff of Euro Pacific Capital, Inc has a pretty good exchange with some of the 99%



Great case against Occupy Wall Street movement

Hans Rosling makes a great case for free markets and in my opinion, against the Occupy Wall Street movement in this TED talk. I'm curious to see if people agree that this shows how misinformed 'the 99%' actually are about our current situation.