Comments on: economic downturn and social stratification hit close to home http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/ Public journal, travelogue, book reviews, and other stuff... (mostly written by Ryan) Tue, 06 Jan 2009 12:18:47 +0000 http://wordpress.org/?v=2.7 hourly 1 By: ryan2 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/comment-page-1/#comment-3196 ryan2 Mon, 24 Mar 2008 12:03:14 +0000 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/#comment-3196 Another NYTimes article illustrating how the wealthy are insulated: http://www.nytimes.com/2008/03/24/business/media/24traders.html Another NYTimes article illustrating how the wealthy are insulated:
http://www.nytimes.com/2008/03/24/business/media/24traders.html

]]> By: ryan2 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/comment-page-1/#comment-3195 ryan2 Mon, 24 Mar 2008 02:19:36 +0000 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/#comment-3195 Dean, thanks for the reference. I almost feel bad for the guy... seriously, I'm right on the border here. It must suck to lose over $900 million. Of course, he still has $15 million... I'll be keeping my eyes peeled for jumpers. For some reason I'm just not thinking it's going to get that bad. Dean, thanks for the reference. I almost feel bad for the guy… seriously, I’m right on the border here. It must suck to lose over $900 million. Of course, he still has $15 million…

I’ll be keeping my eyes peeled for jumpers. For some reason I’m just not thinking it’s going to get that bad.

]]> By: ryan2 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/comment-page-1/#comment-3194 ryan2 Mon, 24 Mar 2008 02:13:28 +0000 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/#comment-3194 Indeed, very sad. We spent a wonderful evening with this little family after I fixed their computer for them. I don't know if you've ever had Argentinian style pizza, but it's awesome. She whipped them out of the oven, one after another and we sat around eating and chatting; it was loads of fun. Their kids are cool (if a little spoiled) and we've always gotten along with them really well. We're sad to see them go and sad to see what's happening. The protective effects of wealth is a good point, Dave. Having a little saved up can really save you. Having a lot saved up makes life pretty easy. I illustrated this to my class just the other day... Using, of all things, the Taft Fund. $1 million per year - that doesn't just magically appear; it takes money to make lots of money, and that's the perquisite of having wealthy ancestors. Indeed, very sad. We spent a wonderful evening with this little family after I fixed their computer for them. I don’t know if you’ve ever had Argentinian style pizza, but it’s awesome. She whipped them out of the oven, one after another and we sat around eating and chatting; it was loads of fun. Their kids are cool (if a little spoiled) and we’ve always gotten along with them really well. We’re sad to see them go and sad to see what’s happening.

The protective effects of wealth is a good point, Dave. Having a little saved up can really save you. Having a lot saved up makes life pretty easy. I illustrated this to my class just the other day… Using, of all things, the Taft Fund. $1 million per year - that doesn’t just magically appear; it takes money to make lots of money, and that’s the perquisite of having wealthy ancestors.

]]> By: dave p. http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/comment-page-1/#comment-3193 dave p. Mon, 24 Mar 2008 00:19:53 +0000 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/#comment-3193 Another thing for your list at the end: the importance of the protective effects of wealth. It sounds like the first couple might be a bit better off in this regard. Sad story, sorry to hear it hit so close to home. Another thing for your list at the end: the importance of the protective effects of wealth. It sounds like the first couple might be a bit better off in this regard. Sad story, sorry to hear it hit so close to home.

]]> By: Mike http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/comment-page-1/#comment-3192 Mike Mon, 24 Mar 2008 00:09:38 +0000 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/#comment-3192 In a detached way, this was very interesting. In a human way, this was very sad. thanks, Ryan. Mike In a detached way, this was very interesting.
In a human way, this was very sad.

thanks, Ryan.

Mike

]]> By: Dean http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/comment-page-1/#comment-3191 Dean Sun, 23 Mar 2008 17:40:11 +0000 http://www.ryananddebi.com/2008/03/23/economic-downturn-and-social-stratification-hit-close-to-home/#comment-3191 More accurately and very recently, in the case of Bear Stearns, the Chairman of the Board of Directors saw his net worth go from $993 million to $15 million. (Source: http://en.wikipedia.org/wiki/James_E._Cayne ) While no one is jumping out of windows quite yet, give it time. More accurately and very recently, in the case of Bear Stearns, the Chairman of the Board of Directors saw his net worth go from $993 million to $15 million. (Source: http://en.wikipedia.org/wiki/James_E._Cayne ) While no one is jumping out of windows quite yet, give it time.

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