Mar

26

At dinner here in Tokyo with Vic a young 'cub reporter' seems to have fallen for the notion in America that inequality is rampant; wealth is in the hands for the few. Vic demolishes the notion. To take it a step beyond I looked at some charts ..a 43% increase in millionaires since 2008, more wealthy people than any other country. America is still the land of opportunity and allows for upward mobility.

S. Martinek says:

The reporter's complaints remind me of this famous reply by Margaret Thatcher: "On Socialism" [You Tube, 2:34].

Vic Niederhoffer  adds:

I would add however that the cub was no cub but the main producer and a very competent one of a major program on Nippon Tv about the future. She is planning an interview with Pikety, and Larry and I gave her a little food for thought. More important she accompanied Larry and me to a Tokyo Giants game, and we saw a 75 year old coach lead the team in 10 minutes of calisthenics 10 minutes before the game, berating all the laggards all the while. I commented that if a coach did that in the States he would doubtless be strangled. But the lesson of group harmony and orderliness before a performance should not be lost on all trading rooms.


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