Category Archives: Finance

The top 0.01% in the USA

The top 0.01% of American workers—now some 15000—this year have incomes, including capital gains, of about 500 times the average. Typical incomes in America today, including capital gains and benefits, are perhaps 300 [dollars] a working day. The gulf between … Continue reading

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Working on council estates

I worked for fifty years in Hackney and Havering on Council estates as a plumber. Like everybody else Council tenants are of all kinds of people: loud, selfish, helpful, timid, stupid and clever and I nearly forgot the rich and … Continue reading

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Eat your heart out lottery winners: this is winning

“Over the past 54 years, shares in his [Warren Buffet’s] company, Berkshire Hathaway, have outpaced the S&P 500—a broad index of American stocks—by almost 2.5 million percentage points. The degree to which Buffett has outwitted successive generations of Wall Street … Continue reading

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Comparative Poverty: The Top 1% vs the Top 0.1%

Someone at the bottom of the top percentile of incomes is on about £120,000 a year. The top 0.1%, however, gets over £500,000…. The very rich price the reasonably rich out of houses and schools: top private school fees have … Continue reading

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Why posh boys and girls run the Arts

Not long ago, my wife, a composer, asked me if I would ever advise a student from a low-income family to pursue a career in the arts. “What do you mean? Of course.” “Really?” “If that’s what they wanted to … Continue reading

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The world’s most successful criminals: Banks

A single small branch of Danske Bank in Estonia processed £120 billion between 2007 and 2015. “No one really knows where this money went. All we know is that the last people to see it was…three large banks in the … Continue reading

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Fancy banking in the Ukraine?

There is a bank in Ukraine that is offering *21%* interest on a checking account. But you must take 10,000 steps a day, tracked by their app, to qualify. Miss one day and you get nothing. I can’t decide if … Continue reading

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