[durasell]

The thing that is always left unsaid in these discussions is the hard, cold fact that some jobs are not worth as much as they used to be. Just as the price of gold and other commodities rises and falls, so too does the cost of labor.

And while there are no promises in life, some people (incorrectly) feel that if they are willing to work hard and play by the rules that they'll be able to earn a decent living. The idea of a thirty year old hedge fund whiz kid who earns seven figures (with bonus) to blow on fashion models, $10,000 weekend jaunts, and pricey cars creates a moral disonance for them. In their eyes, that's not the way the world is supposed to work.

[Sunnyflorida]

Thanks. I know. People seem so defenseless and jealous. If one of the hedgees wants to live like that fine. It's his business, but I know these guys and I would not want to be them.

"Life is unfair." So what? Nobody can tell me making a living 20-50-100-200 years ago was easier. Simpler maybe but not easier. Do people in this country really want to add 10-20% to their Wal-Mart bill? I think not.

More people in this country know more about baseball then economics. Its a miracle that things are as good as they are. Econimics is not that complicated; it is so easy to learn. Thomas Sowell and Walter Williams have written excellent books and articles. If this was my blog I would require people to read Sowell before posting on economic topics. Many are marxist and don't know it. Odd very odd.