Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (74194)	12/1/2010 8:58:51 PM
From: gg cox	1 Recommendation Read Replies (2) of 74559

He said he thought it was a one in 15 chance that there could be major problems in US..a little over 6 percent chance would be his guess, not 15 percent chance. <<Socialist bludgers rob, regulate, suffocate, mismanage; capitalists like Warren Buffett and John Bogle invest and manage. The bludgers can't achieve things themselves, so they take it away from those who can by weight of voting power.>> "Socialist bludgers" did not come up in the interview, why are you referring to that tired mantra?I thought after you got that pot on the head you were curred. What came up was references to the greedy pigs at the top of the banking sector,and hogs at the top of large US companies where their pay has ballooned to 400 times what their average worker gets, for only MEDIOCRE results. He said when he started Vanguard he was getting $100,000 while the average at Vanguard was $23,000 ...over the years his take home went up and is a small fraction of what CEO pay is today.He said banking industry not really producing anything of value, like Steve Jobs.. just hedge fund churning...or gambling and he suggested they should not have preferential tax treatment...only paying 15 percent capital gains tax while the average shmo is over 30 percent. It is fair to say that Bogle has the VVV and he probably agrees with Celente and he does agree with Buffet that there should be tax increases on the wealthy. youtube.com

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