1/3
Trying to square this circle. For disclosure purposes, to me, it’s simply an academic exercise since I count myself among the working poor…virtually broke. What’s behind door #1 is no different, to me, than door #2 or #3.
Money troubles.
There’s been an article floating around of late (too tired for sauce, someone else can help me out) stating the world’s true debt is something to the order of 184 trillion dollars. This includes sovereign wealth, declared liabilities and unfounded liabilities…and any, and every, two-dollar-word economic category they teach in business schools.
There’s another article floating around. This one, in my opinion, is designed to encourage us to feel pity for the ‘masters of the universe,’ the hedge-fund boys, the managers who pay themselves 2-20 when the economy is hot and probably the same when it’s as it is now. Someone better informed than I am will have to expand on the compensation formula. To me it’s always been a bad joke, but people put up with it and still contribute to the funds thinking they’re going to get a leg up on everyone else….madoff didn’t manage his own money, he managed others. Poor ripped off victims who thought they would get 8-10% year over year profits by…….well, it was supposed to be a secret, unless it blew up in our faces and we wanted our money back, which by the way, I understand mr. pickard (sic?) is coming close to doing…80% of the declared losses have been recouped. 2-20. Something like 2% of profits in addition to 20% of funds under management. I may have it flipped, but either way, it’s a joke but a fool and money soon part. Who am I to tell the hampton’s crowd how to waste their ‘hard earned’ money?