Profit And Loss Quotes

You have to work on the business first before it works for you.

Wherever you look there’s meanness and corruption. This room, this bottle of grape wine, these fruits in the basket, are all products of profit and loss. A fellow can’t live without giving his passive acceptance to meanness. Somebody wears his tail to a frazzle for every mouthful we eat and every stitch we wear—and nobody seems to know. Everybody is blind, dumb, and blunt-headed—stupid and mean.

If a composer suffers from loss of sleep and his sleeplessness induces him to turn out masterpieces, what a profitable loss it is!

WAR is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives.

There are more ways than one to measure profits and losses.

Great losses are great lessons.

I think the difference between a lie and a story is that a story utilizes the trappings and appearance of truth for the interest of the listener as well as of the teller. A story has in it neither gain nor loss. But a lie is a device for profit or escape. I suppose if that definition is strictly held to, then a writer of stories is a liar - if he is financially fortunate.

Why be elated by material profit?” Father replied. “The one who pursues a goal of evenmindedness is neither jubilant with gain nor depressed by loss. He knows that man arrives penniless in this world, and departs without a single rupee.

Ours is a system of corporate socialism, where companies capitalize their profits and socialize their losses…in effect, they tax you for their accidents, bungling, boondoggles, and mismanagement, just like a government. We should be able to deselect them.

When a dreamer loses his lover, his dream profits. (Unless, of course, the lover was the dreamer's dream.)

No, you're not free," he said. "The string you're tied to is perhaps no longer than other people's. That's all. You're on a long piece of string, boss; you come and go, and think you're free, but you never cut the string in two. And when people don't cut that string . . ." "I'll cut it some day!" I said defiantly, because Zorba's words had touched an open wound in me and hurt. "It's difficult, boss, very difficult. You need a touch of folly to do that; folly, d'you see? You have to risk everything! But you've got such a strong head, it'll always get the better of you. A man's head is like a grocer; it keeps accounts: I've paid so much and earned so much and that means a profit of this much or a loss of that much! The head's a careful little shopkeeper; it never risks all it has, always keeps something in reserve. It never breaks the string. Ah no! It hangs on tight to it, the bastard! If the string slips out of its grasp, the head, poor devil, is lost, finished! But if a man doesn't break the string, tell me, what flavor is left in life? The flavor of camomile, weak camomile tea! Nothing like rum-that makes you see life inside out!

The bottom line is down where it belongs – at the bottom. Far above it in importance are the infinite number of events that produce the profit or loss.

A small profit it better than a big loss

Deregulated marketplace: a brilliant method by which profits are privatized and losses are socialized.

Every business experiences loss, but loss should be temporary. The overwhelming financial story of a business should be profit.

Because they claim to be concerned with the welfare of whole societies, governments arrogate to themselves the right to pass off as mere abstract profit or loss the human unhappiness that their decisions provoke or their negligence permits. It is a duty of an international citizenship to always bring the testimony of people's suffering to the eyes and ears of governments, sufferings for which it's untrue that they are not responsible. The suffering of men must never be a mere silent residue of policy. It grounds an absolute right to stand up and speak to those who hold power.

I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.

No profit was too small to despise; no loss was too small to abhor.

The weight-loss industry is the most profitable failed industry in history,

I work so hard for profits because my dreams are expensive.

Friendship is like an investment; the best type yields the best profit for you! It's not just about making friends; it's about making right friends for the right reasons!

Most people do not erode their self-esteem over big issues but over small ones, little acts of betrayal and hypocrisy forgotten (repressed) very quickly. But the computer in your subconscious mind forgets nothing. It records your spiritual profit and loss. The balance sheet reflects your present level of self-esteem--and sends you the information via your emotions.

There is nothing you can do that profit does not enter into, and fear of loss, and wish for power. You cannot say good morning without knowing which of you is 'superior' to the other, or trying to prove it. You cannot act like a brother to other people, you must manipulate them, or command them, or obey them, or trick them. You cannot touch another person, yet they will not leave you alone. There is no freedom.

Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness... Paradoxically (and as an unintended consequence) your trading performance will improve significantly.

Millions of business people are each constantly forced to choose between their desire to not be a bad person and their desire to be a good business person, that is to say, to make as much money as they possibly can by maximizing their revenue while minimizing the cost of producing whatever it is that they sell.

There is more than one way to measure profits and losses. On every level, institutions can and should have a heart.

The girls all know the score. No escape. No surrender. No mercy. We got to kill every last rat bastard one of them, every last one. Not for revenge. Not because they deserve it. not because it'll make the world a better place. We need a heap of bloody bodies so when the mob boss, Wallenquist, looks over his charts of profits and losses, he'll see what it cost him to mess with the girls of Old Town.

Let me strive every moment of my life to make myself better and better, to the best of my ability, that all may profit by it. Let me think of the right and lend all my assistance to those who need it, with no regard for anything but justice. Let me take what comes with a smile, without loss of courage. Let me be considerate of my country, of my fellow citizens and my associates in everything I say and do. Let me do right to all, and wrong no man.

But listen! Wherever you look there's meanness and corruption. This room, this bottle of grape wine, these fruits in the basket, are all products of profit and loss. A fellow can't live without giving his passive acceptance to meanness. Somebody wears his tail to a frazzle for every mouthful we eat and every stitch we wear—and nobody seems to know. Everybody is blind, dumb, and blunt-headed—stupid and mean.' Jake

The most important thing to understand is that while we courted, Americans dated, a pragmatic custom whereby a male and a female set a mutually agreeable time to meet, as if to negotiate a potentially profitable business venture. Americans understood dating to be about investments and gains, short or long term , but we saw romance and courtship as being about losses. After all, the only worthwhile courtship involved persuading a woman who could not be persuaded, not a woman already predisposed to examine her calendar for her availability.

For what men say is that, if I am really just and am not also thought just profit there is none, but the pain and loss on the other hand are unmistakeable.

Let your personality be your profit and not your punishment.

Business deals should be mutually beneficial. Don’t fund other peoples profits with your loss.

The most important thing in life is not to capitalize on your gains. Any fool can do that. The really important thing is to profit from your losses. That requires intelligence; and it makes the difference between a man of sense and a fool.

Because there is nothing, nothing on Urras that we Anarresti need! We left with empty hands, a hundred and seventy years ago, and we were right. We took nothing. Because there is nothing here but States and their weapons, the rich and their lies, and the poor and their misery. There is no way to act rightly, with a clear heart, on Urras. There is nothing you can do that profit does not enter into, and fear of loss, and the wish for power. You cannot say good morning without knowing which of you is ‘superior’ to the other, or trying to prove it. You cannot act like a brother to other people, you must manipulate them, or command them, or obey them, or trick them. You cannot touch another person, yet they will not leave you alone. There is no freedom. It is a box—Urras is a box, a package, with all the beautiful wrapping of blue sky and meadows and forests and great cities. And you open the box, and what is inside it? A black cellar full of dust, and a dead man. A man whose hand was shot off because he held it out to others.

To understand what was in Ivan’s mind, one has to think back to what the world was like before Machiavelli. The modern calculus of profit and loss probably meant nothing to Ivan. He never thought about realpolitik. His concerns were with tradition and posterity, history and fame, apocalypse and eternity.

Knowing that it is the earth that we tread, we learn to tread carefully, lest it be rent open. Realizing that it is the heavens that hang above us, we come to fear the echoing thunderbolt. The world demands that we battle with others for the sake of our own reputation, and so we undergo the sufferings bred of illusion. While we live in this world with its daily business, forced to walk the tightrope of profit and loss, true love is an empty thing, and the wealth before our eyes mere dust. The reputation we grasp at, the glory that we seize, is surely like the honey that the cunning bee will seem sweetly to brew only to leave his sting within it as he flies. What we call pleasure in fact contains all suffering, since it arises from attachment. Only thanks to the existence of the poet and the painter are we able to imbibe the essence of this dualistic world, to taste the purity of its very bones and marrow.

Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook. More than that, some speculation is necessary and unavoidable, for in many common-stock situations there are substantial possibilities of both profit and loss, and the risks therein must be assumed by someone.* There is intelligent speculation as there is intelligent investing. But there are many ways in which speculation may be unintelligent. Of these the foremost are: (1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.

A smart entrepreneur pivots when circumstances pivot. When everything around you changes, you gotta change to adapt. Either you pivot and profit from the change, or you procrastinate and are forced to change eventually. And when you're forced to change, there's usually a loss not a profit.

You’ve got to spend your money for the things that money can buy, not worry about profit or loss. Save your energy for the things that money can’t buy.

What doth it profit a man if he gain the whole world and suffer the loss of his own soul?

What doth it profit a man to gain the whole world if he suffer the loss of his immortal soul?

Knowing that it is the earth we tread, we learn to tread carefully, lest it be rent open. Realizing that it is the heavens that hang above us, we come to fear the echoing thunderbolt. The world demands that we battle with others for the sake of our own reputation, and so we undergo the sufferings bred of illusion. While we live in this world with its daily business, forced to walk the tightrope of profit and loss, true love is an empty thing, and the wealth before our eyes mere dust.

Wall Street, against which the self-styled idealists are battling, is merely a symbol. But the walls of the Soviet prisons within which all dissenters disappear forever are a hard fact.

Though there was much sheer rascality in the Wall Street of the nineteen-twenties, much sheer greed roaming at large, and a widespread betrayal of the fiduciary principle, it may be that none of these things did as much damage to the country, in the sum total, as the sheer irresponsibility of men who, possessing vast powers, played the game of profit and loss without regard for the general public interest.

I never advise friends to put money in anything,. said Danny. 'It's a no-win situation - if they make a profit they forget that it was you who recommended it, and if they make a loss they never stop reminding you. My only advise would be not to gamble what you can't afford, and never to risk an amount that might cause you to lose a night's sleep

Because we cannot discover God's throne in the sky with a radiotelescope or establish (for certain) that a beloved father or mother is still about in a more or less corporeal form, people assume that such ideas are "not true." I would rather say that they are not "true" enough, for these are conceptions of a kind that have accompanied human life from prehistoric times, and that still break through into consciousness at any provocation. Modern man may assert that he can dispose with them, and he may bolster his opinion by insisting that there is no scientific evidence of their truth. Or he may even regret the loss of his convictions. But since we are dealing with invisible and unknowable things (for God is beyond human understanding, and there is no means of proving immortality), why should we bother about evidence? Even if we did not know by reason our need for salt in our food, we should nonetheless profit from its use. We might argue that the use of salt is a mere illusion of taste or a superstition; but it would still contribute to our well-being. Why, then, should we deprive ourselves of views that would prove helpful in crises and would give a meaning to our existence? And how do we know that such ideas are not true? Many people would agree with me if I stated flatly that such ideas are probably illusions. What they fail to realize is that the denial is as impossible to "prove" as the assertion of religious belief. We are entirely free to choose which point of view we take; it will in any case be an arbitrary decision. There is, however, a strong empirical reason why we should cultivate thoughts that can never be proved. It is that they are known to be useful. Man positively needs general ideas and convictions that will give a meaning to his life and enable him to find a place for himself in the universe. He can stand the most incredible hardships when he is convinced that they make sense; he is crushed when, on top of all his misfortunes, he has to admit that he is taking part in a "tale told by an idiot." It is the role of religious symbols to give a meaning to the life of man. The Pueblo Indians believe that they are the sons of Father Sun, and this belief endows their life with a perspective (and a goal) that goes far beyond their limited existence. It gives them ample space for the unfolding of personality and permits them a full life as complete persons. Their plight is infinitely more satisfactory than that of a man in our own civilization who knows that he is (and will remain) nothing more than an underdog with no inner meaning to his life.

Sometimes a business has to lose money in its infancy. But that's only okay if there's a path to profitability and a clear vision of a profitable business model. A loss is only acceptable if it's a present investment into future profit.

The most important thing in life is not to capitalize on your gains. Any fool can do that. The really important thing is to profit from your losses. That requires intelligence; and it makes the difference between a man of sense and a fool.

Oh not because happiness exists, that too-hasty profit snatched from approaching loss. ********* But because truly being here is so much; because everything here apparently needs us, this fleeting world, which is in some strange way keeps calling to us. Us, the most fleeting of all. ********* Ah, but what can we take along into that other realm? Not the act of looking, which is learned so slowly, and nothing that happened here. Nothing. The sufferings, then. And above all, the heaviness, and long experience of love, – just what is wholly unsayable.

The objection to profit is as if a bystander, observing the planter digging his crop, should say: "You put in only one potato and you are taking out a dozen. You must have taken them away from someone else; those extra potatoes cannot be yours by right." If profit is denounced, it must be assumed that running at a loss is admirable. On the contrary, that is what requires justification. Profit is self-justifying.

Privilege implies exclusion from privilege, just as advantage implies disadvantage," Celine went on. "In the same mathematically reciprocal way, profit implies loss. If you and I exchange equal goods, that is trade: neither of us profits and neither of us loses. But if we exchange unequal goods, one of us profits and the other loses. Mathematically. Certainly. Now, such mathematically unequal exchanges will always occur because some traders will be shrewder than others. But in total freedom—in anarchy—such unequal exchanges will be sporadic and irregular. A phenomenon of unpredictable periodicity, mathematically speaking. Now look about you, professor—raise your nose from your great books and survey the actual world as it is—and you will not observe such unpredictable functions. You will observe, instead, a mathematically smooth function, a steady profit accruing to one group and an equally steady loss accumulating for all others. Why is this, professor? Because the system is not free or random, any mathematician would tell you a priori. Well, then, where is the determining function, the factor that controls the other variables? You have named it yourself, or Mr. Adler has: the Great Tradition. Privilege, I prefer to call it. When A meets B in the marketplace, they do not bargain as equals. A bargains from a position of privilege; hence, he always profits and B always loses. There is no more Free Market here than there is on the other side of the Iron Curtain. The privileges, or Private Laws—the rules of the game, as promulgated by the Politburo and the General Congress of the Communist Party on that side and by the U.S. government and the Federal Reserve Board on this side—are slightly different; that's all. And it is this that is threatened by anarchists, and by the repressed anarchist in each of us," he concluded, strongly emphasizing the last clause, staring at Drake, not at the professor.

Almost every product promises to change your life: it will make you more beautiful, cleaner, more sexually alluring, and more successful. Born again, as it were. The messages contain promises about the future, unfailingly optimistic, exaggerating, miracle-promising—the same ideology that invites corporate executives to exaggerate profits and conceal losses, but always with a sunny face. The virtual reality of the advertiser and the “good news” of the evangelist complement each other, a match made in heaven.

Why does socialist central planning not work? The means of production are not held privately, so there cannot be any exchange markets for them and therefore no exchange ratios established. That means there is no way to calculate profit and loss. Without profit and loss, there is no way to assess the tradeoffs associated with alternative uses of resources.

How did we forget these lessons from the past? How did we go from knowing that the best athletes in the ancient Greek Olympics must consume a plant-based diet to fearing that vegetarians don’t get enough protein? How did we get to a place where the healers of our society, our doctors, know little, if anything, about nutrition; where our medical institutions denigrate the subject; where using prescription drugs and going to hospitals is the third leading cause of death? How did we get to a place where advocating a plant-based diet can jeopardize a professional career, where scientists spend more time mastering nature than respecting it? How did we get to a place where the companies that profit from our sickness are the ones telling us how to be healthy; where the companies that profit from our food choices are the ones telling us what to eat; where the public’s hard-earned money is being spent by the government to boost the drug industry’s profits; and where there is more distrust than trust of our government’s policies on foods, drugs and health? How did we get to a place where Americans are so confused about what is healthy that they no longer care?

The Tape Reader’s profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears to make a loss

You’ve got to spend your money for the things that money can buy, not worry about profit or loss. Save your energy for the things that money can’t buy.” He

Wavering between the profit and the loss In this brief transit where the dreams cross The dreamcrossed twilight between birth and dying

Not wanting him to go was an emotion produced by me, not him. He’d witnessed me having and failing to smother a feeling, and said he’d noticed - and he profited, not me.

Manage your relationships. Great relationships may not be profitable, but bad ones always result in losses.

Political victories that undermine trust in politics shouldn’t be considered victories; they’re net losses for society. Record corporate profits achieved by eroding the public’s trust in business aren’t successes; they’re derelictions of duty. Lobbying and campaign donations that result in laws and regulations favoring the lobbyists and donors aren’t triumphs if they weaken public confidence in our democracy; they, too, are abject failures of leadership.

... she exclaimed, the innate respectability of the middle-class housewife rising impulsively to the surface through the acquired dilettantism of the 'light woman.' People who enjoyed 'picking-up' things, who admired poetry, despised sordid calculations of profit and loss, and nourished ideals of honour and love, she placed in a class by themselves, superior to the rest of humanity.

I am describing again an interrupted revolution, the so-called Sexual Revolution. We see now the organized system of production and sales manages to profit by the confusion of the interruption, whereas a finished revolution would be a dead loss, since good sexual satisfaction costs nothing, it needs only health and affection.

A human being, like a business, makes profits and suffers losses. For a human being, however, the ultimate currency is not money, nor is it any external measure, such as fame, fortune, or power. The ultimate currency for a human being is happiness. Money and fame are subordinate to happiness and have no intrinsic value. The only reason money and fame may be desirable is that having them or the thought of having them could lead to positive emotions or meaning. In themselves, wealth and fame are worthless: there would be no reason to seek fame and fortune if they did not contribute, in some way, toward happiness.

Liquidity is important to investors. When opportunities arise, businesses need to have sufficient cash available in order to act on the opportunity promptly. Having sufficient cash available can also serve as protection against losses or a tool with which the business acquired solutions in the event of crises. We like to see that businesses have a sufficient amount of available cash.

There is no room at all for independent enterprise under any variety of State Socialism. Prices are to be regulated authoritatively; authority is to fix what is to be produced, and how, and in what quantities. There is to be no speculation, no 'excessive' profit, no loss. There is to be no innovation unless it be decreed by authority. The official is to direct and supervise everything.

The state must answer these questions, too, but whatever it does, it does it without being subject to the profit-and-loss criterion. Hence, its action is arbitrary and necessarily involves countless wasteful misallocations from the consumer’s viewpoint. Independent to a large degree of consumer wants, the state-employed security producers instead do what they like. They hang around instead of doing anything, and if they do work they prefer doing what is easiest or work where they can wield power rather than serving consumers. Police officers drive around a lot, hassle petty traffic violators, spend huge amounts of money investigating victimless crimes that many people (i.e., nonparticipants) do not like but that few would be willing to spend their money on to fight, as they are not immediately affected by them. Yet with respect to what consumers want most urgently—the prevention of hardcore crime (i.e., crimes with victims), the apprehension and effective punishment of hard-core criminals, the recovery of loot, and the securement of compensation of victims of crimes from the aggressors—the police are notoriously inefficient, in spite of ever higher budget allocations.

You never get poor by taking a profit." It would follow that cutting your losses is also a good idea, but investors hate to take losses, because, tax considerations aside, a loss taken is an acknowledgment of error. Loss-aversion combined with ego leads investors to gamble by clinging to their mistakes in the fond hope that some day the market will vindicate their judgment and make them whole.

By rendering their enterprises profitable, the consumers shift control of the factors of production into the hands of those businessmen who serve them best. By rendering the enterprises of the bungling entrepreneurs unprofitable, they withdraw control from those entrepreneurs with whose services they disagree. It is antisocial in the strict meaning of the term if governments thwart these decisions of the people by taxing profits. From a genuinely social point of view, it would be more “social” to tax losses than to tax profits.

What is a price? It is a proposed point of agreement between a buyer and seller. The proposal is the key. It is not a marching order. Past prices represent deals done in history. Current prices represent possible deals in the future. Prices embed vast information about perceived realities: resource availability, consumer demand, cultural biases and habits, speculations about the future. The price is also an amazing tool. It provides an objective basis for accounting and the assessment of profit and loss. Without prices, real prices rooted in real market experience, we’d been lost.

The Freedman’s Savings Bank serves as a cautionary tale for government support of banking for the poor when that support is just a façade. Draping a flag over a building and then installing private profit-motivated management inside is the most dangerous sort of government support. It induces trust in a vulnerable customer base that not only suffers from financial loss, but also loses all faith in public institutions. It poisons true government efforts to help. A similar phenomenon was at the heart of the failure of the government-sponsored enterprises Fannie Mae and Freddie Mac during the recent financial

Hap If but some vengeful god would call to me From up the sky, and laugh: “Thou suffering thing, Know that thy sorrow is my ecstasy, That thy love's loss is my hate's profiting!” Then would I bear it, clench myself, and die, Steeled by the sense of ire unmerited; Half-eased in that a Powerfuller than I Had willed and meted me the tears I shed. But not so. How arrives it joy lies slain, And why unblooms the best hope ever sown? —Crass Casualty obstructs the sun and rain, And dicing Time for gladness casts a moan. . . . These purblind Doomsters had as readily strown Blisses about my pilgrimage as pain.

The health care establishment is structured to profit from chemical and surgical intervention. Diet still takes the back seat to drugs and surgery. One criticism that is constantly leveled at the dietary argument is that patients will not make such fundamental changes. One doctor charges that Dr. Esselstyn’s patients change their eating habits simply because of Esselstyn’s “zealous belief.”47 This criticism is not only wrong and insulting to patients; it is also self-fulfilling. If doctors do not believe that patients will change their diets, they will neglect to talk about diet, or will do it in an off-handed, disparaging way.

Can I by justice or by crooked ways of deceit ascend a loftier tower which may he a fortress to me all my days? For what men say is that, if I am really just and am not also thought just profit there is none, but the pain and loss on the other hand are unmistakable. But if, though unjust, I acquire the reputation of justice, a heavenly life is promised to me. Since then, as philosophers prove, appearance tyrannizes over truth and is lord of happiness, to appearance I must devote myself.

Of course, I know that none of that is true. That I can’t change my body type (and don’t even want to!), that thin women are no more happy than I am, that these insecurities are seeded and tended in my brain by the weight-loss industry, which profits from our collective self-loathing to the tune of $70 billion every year—despite

The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator’s primary interest lies in anticipating and profiting from market fluctuations. The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell. It is far from certain that the typical investor should regularly hold off buying until low market levels appear, because this may involve a long wait, very likely the loss of income, and the possible missing of investment opportunities. On the whole it may be better for the investor to do his stock buying whenever he has money to put in stocks, except when the general market level is much higher than can be justified by well-established standards of value. If he wants to be shrewd he can look for the ever-present bargain opportunities in individual securities. Aside from forecasting the movements of the general market, much effort and ability are directed on Wall Street toward selecting stocks or industrial groups that in matter of price will “do better” than the rest over a fairly short period in the future. Logical as this endeavor may seem, we do not believe it is suited to the needs or temperament of the true investor—particularly since he would be competing with a large number of stock-market traders and first-class financial analysts who are trying to do the same thing. As in all other activities that emphasize price movements first and underlying values second, the work of many intelligent minds constantly engaged in this field tends to be self-neutralizing and self-defeating over the years. The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored. He should never buy a stock because it has gone up or sell one because it has gone down. He would not be far wrong if this motto read more simply: “Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.” An

Those who understand the way do not talk about it, and those who talk about the way do not understand it. Therefore the wise person: Closes his mouth, locks his gates, tempers his sharpness, simplifies his problems, softens his glare. Unite yourself with the low – this is the profound harmony. Where there is no attachment, there is liberation from aversion. Where there is no profit, there is liberation from loss. Where there is no honour, there is liberation from disgrace. Therefore this is the most cherished way on earth.

The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation when the market goes against you you hope that every day will be the last day and you lose more than you should had you not listened to hope to the same ally that is so potent a success-bringer to empire builders and pioneers, big and little. And when the market goes your way you become fearful that the next day will take away your profit, and you get out too soon. Fear keeps you from making as much money as you ought to. The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does.

Both the Pollyannas and the Cassandras are wrong, and both stand in the way of social justice, the former by condemning us all to catastrophic climate change and the loss of other vital ecosystem services for the sake of profit; the latter by condemning us all to a hair-shirted existence and refusal of further human development due to a romantic, unscientific belief in a static, unchanging balance of nature.

The only thing unqualifiedly good in this world is a good will - the will to follow the moral law, regardless of profit or loss for ourselves. Never mind your happiness; do your duty. "Morality is not properly the doctrine of how we may make ourselves happy, but how we may make ourselves worthy of happiness." Let us seek the happiness in others; but for ourselves, perfection - whether it bring us happiness or pain.

In one experiment, CA would show people on online panels pictures of simple bar graphs about uncontroversial things (e.g., the usage rates of mobile phones or sales of a car type) and the majority would be able to read the graph correctly. However, unbeknownst to the respondents, the data behind these graphs had actually been derived from politically controversial topics, such as income inequality, climate change, or deaths from gun violence. When the labels of the same graphs were later switched to their actual controversial topic, respondents who were made angry by identity threats were more likely to misread the relabeled graphs that they had previously understood. What CA observed was that when respondents were angry, their need for complete and rational explanations was also significantly reduced. In particular, anger put people in a frame of mind in which they were more indiscriminately punitive, particularly to out-groups. They would also underestimate the risk of negative outcomes. This led CA to discover that even if a hypothetical trade war with China or Mexico meant the loss of American jobs and profits, people primed with anger would tolerate that domestic economic damage if it meant they could use a trade war to punish immigrant groups and urban liberals.

Now, it has been independently shown that people hate to lose something more than they enjoy gaining it. For example, they don't mind paying for something with a credit card even when told there is a discount for cash, but they hate paying the same amount if they are told there is a surcharge for using credit. As a result, people will often refuse to gamble for an expected profit (they turn down bets such as "Heads, you win $120; tails, you pay $100), but they will gamble to avoid an expected loss (such as "Heads, you no longer owe $120; tails, you now owe an additional $100"). (This kind of behavior drives economists crazy, but is avidly studied by investment firms hoping to turn it to their advantage.) The combination of people's loss aversion with the effects of framing explains the paradoxical result: the "gain" metaphor made the doctors risk-averse; the "loss" metaphor made them gamblers.

If the real human environment in developed countries today is third-growth monocultured “forests,” tar-sand petroleum, cow-burnt grasslands, and smog-like clouds of microplastics floating in oceans where fish once thrived, then human cultures need to distinguish between sentimentality about loss and the imperative to survive. They need to establish a more relevant politics than the competitive politics of nation-states. And to found economies built not on profit but on conservation.

But Sony couldn’t. It had pioneered portable music with the Walkman, it had a great record company, and it had a long history of making beautiful consumer devices. It had all of the assets to compete with Jobs’s strategy of integration of hardware, software, devices, and content sales. Why did it fail? Partly because it was a company, like AOL Time Warner, that was organized into divisions (that word itself was ominous) with their own bottom lines; the goal of achieving synergy in such companies by prodding the divisions to work together was usually elusive. Jobs did not organize Apple into semiautonomous divisions; he closely controlled all of his teams and pushed them to work as one cohesive and flexible company, with one profit-and-loss bottom line. “We don’t have ‘divisions’ with their own P&L,” said Tim Cook. “We run one P&L for the company.

Fifteen years ago, a business manager from the United States came to Plum Village to visit me. His conscience was troubled because he was the head of a firm that designed atomic bombs. I listened as he expressed his concerns. I knew if I advised him to quit his job, another person would only replace him. If he were to quit, he might help himself, but he would not help his company, society, or country. I urged him to remain the director of his firm, to bring mindfulness into his daily work, and to use his position to communicate his concerns and doubts about the production of atomic bombs. In the Sutra on Happiness, the Buddha says it is great fortune to have an occupation that allows us to be happy, to help others, and to generate compassion and understanding in this world. Those in the helping professions have occupations that give them this wonderful opportunity. Yet many social workers, physicians, and therapists work in a way that does not cultivate their compassion, instead doing their job only to earn money. If the bomb designer practises and does his work with mindfulness, his job can still nourish his compassion and in some way allow him to help others. He can still influence his government and fellow citizens by bringing greater awareness to the situation. He can give the whole nation an opportunity to question the necessity of bomb production. Many people who are wealthy, powerful, and important in business, politics, and entertainment are not happy. They are seeking empty things - wealth, fame, power, sex - and in the process they are destroying themselves and those around them. In Plum Village, we have organised retreats for businesspeople. We see that they have many problems and suffer just as others do, sometimes even more. We see that their wealth allows them to live in comfortable conditions, yet they still suffer a great deal. Some businesspeople, even those who have persuaded themselves that their work is very important, feel empty in their occupation. They provide employment to many people in their factories, newspapers, insurance firms, and supermarket chains, yet their financial success is an empty happiness because it is not motivated by understanding or compassion. Caught up in their small world of profit and loss, they are unaware of the suffering and poverty in the world. When we are not int ouch with this larger reality, we will lack the compassion we need to nourish and guide us to happiness. Once you begin to realise your interconnectedness with others, your interbeing, you begin to see how your actions affect you and all other life. You begin to question your way of living, to look with new eyes at the quality of your relationships and the way you work. You begin to see, 'I have to earn a living, yes, but I want to earn a living mindfully. I want to try to select a vocation not harmful to others and to the natural world, one that does not misuse resources.' Entire companies can also adopt this way of thinking. Companies have the right to pursue economic growth, but not at the expense of other life. They should respect the life and integrity of people, animals, plants and minerals. Do not invest your time or money in companies that deprive others of their lives, that operate in a way that exploits people or animals, and destroys nature. Businesspeople who visit Plum Village often find that getting in touch with the suffering of others and cultivating understanding brings them happiness. They practise like Anathapindika, a successful businessman who lived at the time of the Buddha, who with the practise of mindfulness throughout his life did everything he could to help the poor and sick people in his homeland.

The worst of what is called good society is not only that it offers us the companionship of people who are unable to win either our praise or our affection, but that it does not allow of our being that which we naturally are; it compels us, for the sake of harmony, to shrivel up, or even alter our shape altogether. Intellectual conversation, whether grave or humorous, is only fit for intellectual society; it is downright abhorrent to ordinary people, to please whom it is absolutely necessary to be commonplace and dull. This demands an act of severe self-denial; we have to forfeit three-fourths of ourselves in order to become like other people. No doubt their company may be set down against our loss in this respect; but the more a man is worth, the more he will find that what he gains does not cover what he loses, and that the balance is on the debit side of the account; for the people with whom he deals are generally bankrupt,—that is to say, there is nothing to be got from their society which can compensate either for its boredom, annoyance and disagreeableness, or for the self-denial which it renders necessary. Accordingly, most society is so constituted as to offer a good profit to anyone who will exchange it for solitude. Nor

Women have complained, justly, about the behavior of “macho” men. But despite their he-man pretensions and their captivation by masculine heroes of sports, war, and the Old West, most men are now entirely accustomed to obeying and currying the favor of their bosses. Because of this, of course, they hate their jobs — they mutter, “Thank God it’s Friday” and “Pretty good for Monday”— but they do as they are told. They are more compliant than most housewives have been. Their characters combine feudal submissiveness with modern helplessness. They have accepted almost without protest, and often with relief, their dispossession of any usable property and, with that, their loss of economic independence and their consequent subordination to bosses. They have submitted to the destruction of the household economy and thus of the household, to the loss of home employment and self-employment, to the disintegration of their families and communities, to the desecration and pillage of their country, and they have continued abjectly to believe, obey, and vote for the people who have most eagerly abetted this ruin and who have most profited from it. These men, moreover, are helpless to do anything for themselves or anyone else without money, and so for money they do whatever they are told.

the split-strike conversion strategy. Option traders often referred to it as a “collar” or “bull spread.” Basically, it involved buying a basket of stocks, in Madoff’s case 30 to 35 blue-chip stocks that correlated very closely to the Standard & Poor’s (S&P) 100-stock index, and then protecting the stocks with put options. By bracketing an investment with puts and calls, you limit your potential profit if the market rises sharply; but in return you’ve protected yourself against devastating losses should the market drop. The calls created a ceiling on his gains when the market went up; the puts provided a floor to cut his losses when the market went down.

In the same mathematically reciprocal way, profit implies loss. If you and I exchange equal goods, that is trade: neither of us profits and neither of us loses. But if we exchange unequal goods, one of us profits and the other loses. Mathematically. Certainly. Now, such mathematically unequal exchanges will always occur because some traders will be shrewder than others. But in total freedom—in anarchy—such unequal exchanges will be sporadic and irregular. A phenomenon of unpredictable periodicity, mathematically speaking. Now look about you, professor—raise your nose from your great books and survey the actual world as it is—and you will not observe such unpredictable functions. You will observe, instead, a mathematically smooth function, a steady profit accruing to one group and an equally steady loss accumulating for all others. Why is this, professor? Because the system is not free or random, any mathematician would tell you a priori. Well, then, where is the determining function, the factor that controls the other variables? You have named it yourself, or Mr. Adler has: the Great Tradition. Privilege, I prefer to call it. When A meets B in the marketplace, they do not bargain as equals. A bargains from a position of privilege; hence, he always profits and B always loses. There is no more Free Market here than there is on the other side of the Iron Curtain. The privileges, or Private Laws—the rules of the game, as promulgated by the Politburo and the General Congress of the Communist Party on that side and by the U.S. government and the Federal Reserve Board on this side—are slightly different; that’s all. And it is this that is threatened by anarchists, and by the repressed anarchist in each of us,

5.4 The question of accumulation. If life is a wager, what form does it take? At the racetrack, an accumulator is a bet which rolls on profits from the success of one of the horse to engross the stake on the next one. 5.5 So a) To what extent might human relationships be expressed in a mathematical or logical formula? And b) If so, what signs might be placed between the integers?Plus and minus, self-evidently; sometimes multiplication, and yes, division. But these sings are limited. Thus an entirely failed relationship might be expressed in terms of both loss/minus and division/ reduction, showing a total of zero; whereas an entirely successful one can be represented by both addition and multiplication. But what of most relationships? Do they not require to be expressed in notations which are logically improbable and mathematically insoluble? 5.6 Thus how might you express an accumulation containing the integers b, b, a (to the first), a (to the second), s, v? B = s - v (*/+) a (to the first) Or a (to the second) + v + a (to the first) x s = b 5.7 Or is that the wrong way to put the question and express the accumulation? Is the application of logic to the human condition in and of itself self-defeating? What becomes of a chain of argument when the links are made of different metals, each with a separate frangibility? 5.8 Or is "link" a false metaphor? 5.9 But allowing that is not, if a link breaks, wherein lies the responsibility for such breaking? On the links immediately on the other side, or on the whole chain? But what do you mean by "the whole chain"? How far do the limits of responsibility extend? 6.0 Or we might try to draw the responsibility more narrowly and apportion it more exactly. And not use equations and integers but instead express matters in the traditional narrative terminology. So, for instance, if...." - Adrian Finn

One even regrets the loss of such convictions. Since it is a matter of invisible and unknowable things (God is beyond human understanding, and immortality cannot be proved), why should we bother about evidence or truth? Suppose we did not know and understand the need for salt in our food, we would nevertheless profit from its use. Even if we should assume that salt is an illusion of our taste-buds, or a superstition, it would still contribute to our wellbeing. Why, then, should we deprive ourselves of views that prove helpful in crises and give a meaning to our existence? And how do we know that such ideas are not true? Many people would agree with me if I stated flatly that such ideas are illusions. What they fail to realize is that this denial amounts to a “belief” and is just as impossible to prove as a religious assertion

I had to watch my uncle get strung up when I was a child,” she finally said after she returned from the faraway place in her mind. “The white man would only sell us the rotten fruit and vegetables from their bug-infested baskets. We had to collect that mess from the back of the store like we were a pack of wild mutts picking through garbage. My uncle had had enough of his apples having maggots crawling out of them, so he started farming his own vegetables for us to eat. The white man didn’t like that. Not. One. Bit. It’s amazing how their minds work. The way their minds work is the reason we call them devils because only a devil could think the way they do. They were mad about the loss of profit because they no longer had us buying the filthy rot they peddled. “My uncle produced such a high quality of fruits and vegetables that he had white folks coming to buy from him. It wasn’t too long after this started, those devils came in their white hoods and burned his garden to ash. Then they strung him up. We were forced to watch my uncle dangle from the neck while he pissed and shit himself. God will forgive my mouth saying it because he knows I only speak the truth. The evilness that resides inside the mind of those devils still exists in the minds of the ones who wear cop’s uniforms and judge’s robes. This is what our boys are up against. Our boys are at war! They freed us from our chains, so that they could lock us in their jails.

This is the apotheosis of capitalism, the divine sanction of the free market, of unhindered profit and the most rapacious cruelties of globalization. Corporations, rapidly turning America into an oligarchy, have little interest in Christian ethics, or anybody’s ethics. They know what they have to do, as the titans of the industry remind us, for their stockholders. They are content to increase profit at the expense of those who demand fair wages, health benefits, safe working conditions and pensions. This new oligarchic class is creating a global marketplace where all workers, to compete, will have to become like workers in dictatorships such as China: denied rights, their wages dictated to them by the state, and forbidden from organizing or striking. America once attempted to pull workers abroad up to American levels, to foster the building of foreign labor unions, to challenge the abuse of workers in factories that flood the American market with cheap goods. But this new class seeks to reduce the American working class to the levels of this global serfdom. After all, anything that drains corporate coffers is a loss of freedom—the God-given American freedom to exploit other human beings to make money. The marriage of this gospel of prosperity with raw, global capitalism, and the flaunting of the wealth and privilege it brings, are supposedly blessed and championed by Jesus Christ. Compassion is relegated to private, individual acts of charity or left to churches. The callousness of the ideology, the notion that it in any way reflects the message of the gospels, which were preoccupied with the poor and the outcasts, illustrates how the new class has twisted Christian scripture to serve America’s god of capitalism and discredited the Enlightenment values we once prized. The

[T]he just society is one in which each man may seek the things which belong to his nature. By contrast, a system of economic totalitarianism treats the industrious and the idle, the able and the stupid, as if they were alike--which is contrary to the laws of justice. . . . American society is imperfect; but all human societies are imperfect in some degree. The American economy has its faults; but they are faults that may be modified. A free economy, because of its opportunities for choice and competition, has always within it the possibilities of improvement; it does not repress the reformer. But a totalitarian economy, hostile to any sort of criticism, founded on envy and terror, cannot amend its ways without ceasing to be; it leaves no room for prudent reformation. When something in a free economy goes wrong, there is temporary trouble, but the variety of talents and the elasticity of the economic structure make mending fairly easy. When, however, something in a totalitarian economy goes wrong, there is general and serious suffering, because the master-plan of the regimented economy is inelastic and arbitrary. The free economy, in such conditions, penalizes only a few by loss of profit, or resort to bankruptcy. But when the totalitarian economy is brought to account for its mistakes, it seeks scapegoats; and the concentration camp substitutes for the bankruptcy-court.

Having seen several hundred lease agreements entered into by people I have counseled, my financial calculator confirms that the average interest rate is 14 percent. Shouldn’t you lease or rent things that go down in value? Not necessarily, and the math doesn’t work on a car, for sure. Follow me through this example: If you rent (lease) a car with a value of $22,000 for three years, and when you turn it in at the end of that three-year lease the car is worth $10,000, someone has to cover the $12,000 loss. You’re not stupid, so you know that General Motors, Ford, or any of the other auto giants aren’t going to put together a plan to lose money. Your fleece/lease payment is designed to cover the loss in value ($12,000 spread over 36 months is equal to $333 per month), plus provide profit (the interest you pay). Where did you get a deal in that? You didn’t! On top of that, there is the charge of 10 to 17 cents per mile for going over the allotted miles and the penalties everyone turning in a lease has experienced for “excessive wear and tear,” which takes into account every little nick, dent, carpet tear, smudge, or smell. You end up writing a large check just to walk away after renting your car. The whole idea of the back-end penalties is twofold: to get you to fleece/lease another one so you can painlessly roll the gotchas into the new lease, and to make sure the car company makes money.

Since our civilization is irreversibly dependent on electronics, abolition of EMR is out of the question. However, as a first step toward averting disaster, we must halt the introduction of new sources of electromagnetic energy while we investigate the biohazards of those we already have with a completeness and honesty that have so far been in short supply. New sources must be allowed only after their risks have been evaluated on the basis of the knowledge acquired in such a moratorium. 
With an adequately funded research program, the moratorium need last no more than five years, and the ensuing changes could almost certainly be performed without major economic trauma. It seems possible that a different power frequency—say 400 hertz instead of 60—might prove much safer. Burying power lines and providing them with grounded shields would reduce the electric fields around them, and magnetic shielding is also feasible. 
A major part of the safety changes would consist of energy-efficiency reforms that would benefit the economy in the long run. These new directions would have been taken years ago but for the opposition of power companies concerned with their short-term profits, and a government unwilling to challenge them. It is possible to redesign many appliances and communications devices so they use far less energy. The entire power supply could be decentralized by feeding electricity from renewable sources (wind, flowing water, sunlight, georhermal and ocean thermal energy conversion, and so forth) into local distribution nets. This would greatly decrease hazards by reducing the voltages and amperages required. Ultimately, most EMR hazards could be eliminated by the development of efficient photoelectric converters to be used as the primary power source at each point of consumption. The changeover would even pay for itself, as the loss factors of long-distance power transmission—not to mention the astronomical costs of building and decommissioning short-lived nuclear power plants—were eliminated. Safety need not imply giving up our beneficial machines. 
Obviously, given the present technomilitary control of society in most parts of the world, such sane efficiency will be immensely difficult to achieve. Nevertheless, we must try. Electromagnetic energy presents us with the same imperative as nuclear energy: Our survival depends on the ability of upright scientists and other people of goodwill to break the military-industrial death grip on our policy-making institutions.

We cannot pick and choose whom among the oppressed it is convenient to support. We must stand with all the oppressed or none of the oppressed. This is a global fight for life against corporate tyranny. We will win only when we see the struggle of working people in Greece, Spain, and Egypt as our own struggle. This will mean a huge reordering of our world, one that turns away from the primacy of profit to full employment and unionized workplaces, inexpensive and modernized mass transit, especially in impoverished communities, universal single-payer health care and a banning of for-profit health care corporations. The minimum wage must be at least $15 an hour and a weekly income of $500 provided to the unemployed, the disabled, stay-at-home parents, the elderly, and those unable to work. Anti-union laws, like the Taft-Hartley Act, and trade agreements such as NAFTA, will be abolished. All Americans will be granted a pension in old age. A parent will receive two years of paid maternity leave, as well as shorter work weeks with no loss in pay and benefits. The Patriot Act and Section 1021 of the National Defense Authorization Act, which permits the military to be used to crush domestic unrest, as well as government spying on citizens, will end. Mass incarceration will be dismantled. Global warming will become a national and global emergency. We will divert our energy and resources to saving the planet through public investment in renewable energy and end our reliance on fossil fuels. Public utilities, including the railroads, energy companies, the arms industry, and banks, will be nationalized. Government funding for the arts, education, and public broadcasting will create places where creativity, self-expression, and voices of dissent can be heard and seen. We will terminate our nuclear weapons programs and build a nuclear-free world. We will demilitarize our police, meaning that police will no longer carry weapons when they patrol our streets but instead, as in Great Britain, rely on specialized armed units that have to be authorized case by case to use lethal force. There will be training and rehabilitation programs for the poor and those in our prisons, along with the abolition of the death penalty. We will grant full citizenship to undocumented workers. There will be a moratorium on foreclosures and bank repossessions. Education will be free from day care to university. All student debt will be forgiven. Mental health care, especially for those now caged in our prisons, will be available. Our empire will be dismantled. Our soldiers and marines will come home.

A businessman buys a business and tries to operate it. He does everything that he knows how to do but just cannot make it go. Year after year the ledger shows red, and he is not making a profit. He borrows what he can, has a little spirit and a little hope, but that spirit and hope die and he goes broke. Finally, he sells out, hopelessly in debt, and is left a failure in the business world. A woman is educated to be a teacher but just cannot get along with the other teachers. Something in her constitution or temperament will not allow her to get along with children or young people. So after being shuttled from one school to another, she finally gives up, goes somewhere and takes a job running a stapling machine. She just cannot teach and is a failure in the education world. I have known ministers who thought they were called to preach. They prayed and studied and learned Greek and Hebrew, but somehow they just could not make the public want to listen to them. They just couldn’t do it. They were failures in the congregational world. It is possible to be a Christian and yet be a failure. This is the same as Israel in the desert, wandering around. The Israelites were God’s people, protected and fed, but they were failures. They were not where God meant them to be. They compromised. They were halfway between where they used to be and where they ought to be. And that describes many of the Lord’s people. They live and die spiritual failures. I am glad God is good and kind. Failures can crawl into God’s arms, relax and say, “Father, I made a mess of it. I’m a spiritual failure. I haven’t been out doing evil things exactly, but here I am, Father, and I’m old and ready to go and I’m a failure.” Our kind and gracious heavenly Father will not say to that person, “Depart from me—I never knew you,” because that person has believed and does believe in Jesus Christ. The individual has simply been a failure all of his life. He is ready for death and ready for heaven. I wonder if that is what Paul, the man of God, meant when he said: [No] other foundation can [any] man lay than that is laid, which is Jesus Christ. Now if any man build upon this foundation gold, silver, precious stones, wood, hay, stubble; every man’s work shall be made manifest: for the day shall declare it, because it shall be revealed by fire; and the fire shall try every man’s work of what sort it is. If any man’s work abide which he hath built thereupon, he should receive a reward. If any man’s work shall be burned, he shall suffer loss: but he himself shall be saved; yet so as by fire (1 Cor. 3:11-15). I think that’s what it means, all right. We ought to be the kind of Christian that cannot only save our souls but also save our lives. When Lot left Sodom, he had nothing but the garments on his back. Thank God, he got out. But how much better it would have been if he had said farewell at the gate and had camels loaded with his goods. He could have gone out with his head up, chin out, saying good riddance to old Sodom. How much better he could have marched away from there with his family. And when he settled in a new place, he could have had “an abundant entrance” (see 2 Pet. 1:11). Thank God, you are going to make it. But do you want to make it in the way you have been acting lately? Wandering, roaming aimlessly? When there is a place where Jesus will pour “the oil of gladness” on our heads, a place sweeter than any other in the entire world, the blood-bought mercy seat (Ps. 45:7; Heb. 1:9)? It is the will of God that you should enter the holy of holies, live under the shadow of the mercy seat, and go out from there and always come back to be renewed and recharged and re-fed. It is the will of God that you live by the mercy seat, living a separated, clean, holy, sacrificial life—a life of continual spiritual difference. Wouldn’t that be better than the way you are doing it now?

I look around and see many shelters and services for survivors of domestic violence, but no large-scale movement to end male violence. I see many batterer intervention programs, but few men involved in challenging sexism. The loss of vision that narrowed the focus of men's work reflects a change that occurred in other parts of the movement to end violence, as activists who set out to change the institutions perpetrating violence settled into service jobs helping people cope. [...] Social service work addresses the needs of individuals reeling from the personal and devastating impact of institutional systems of exploitation and violence. Social change work challenges the root causes of the exploitation and violence. In my travels throughout the United States, I talk with many service providers, more and more of whom are saying to me, "We could continue doing what we are doing for another hundred years and the levels of violence would not change. I meet more and more people who are running programs for batterers who say ,"We are only dealing with a minute number of the men who are violent and are having little impact on the systems which perpetuate male violence." [...] While there is some overlap between social service provision and social change work, the two do not necessarily go readily together. In our violent world, the needs and numbers of survivors are never ending, and the tasks of funding, staffing, and developing resources for our organizations to meet those needs are difficult, poorly supported, and even actively undermined by those with power and wealth in our society. Although some groups are both working for social change and providing social services, there are many more groups providing social services that are not working for social change. In fact, many social service agencies may be intentionally or inadvertently working to maintain the status quo. After all, the non-profit industrial complex (NPIC) wouldn't exist without a lot of people in desperate straits. The NPIC provides jobs; it provides opportunities for professional development. It enables those who do the work to feel good about what we do and about our ability to help individuals survive in the system. It gives a patina of caring and concern to the ruling class which funds the work.

To the untrained eye, the Wall Street people who rode from the Connecticut suburbs to Grand Central were an undifferentiated mass, but within that mass Danny noted many small and important distinctions. If they were on their BlackBerrys, they were probably hedge fund guys, checking their profits and losses in the Asian markets. If they slept on the train they were probably sell-side people—brokers, who had no skin in the game. Anyone carrying a briefcase or a bag was probably not employed on the sell side, as the only reason you’d carry a bag was to haul around brokerage research, and the brokers didn’t read their own reports—at least not in their spare time. Anyone carrying a copy of the New York Times was probably a lawyer or a back-office person or someone who worked in the financial markets without actually being in the markets. Their clothes told you a lot, too. The guys who ran money dressed as if they were going to a Yankees game. Their financial performance was supposed to be all that mattered about them, and so it caused suspicion if they dressed too well. If you saw a buy-side guy in a suit, it usually meant that he was in trouble, or scheduled to meet with someone who had given him money, or both. Beyond that, it was hard to tell much about a buy-side person from what he was wearing. The sell side, on the other hand, might as well have been wearing their business cards: The guy in the blazer and khakis was a broker at a second-tier firm; the guy in the three-thousand-dollar suit and the hair just so was an investment banker at J.P. Morgan or someplace like that. Danny could guess where people worked by where they sat on the train. The Goldman Sachs, Deutsche Bank, and Merrill Lynch people, who were headed downtown, edged to the front—though when Danny thought about it, few Goldman people actually rode the train anymore. They all had private cars. Hedge fund guys such as himself worked uptown and so exited Grand Central to the north, where taxis appeared haphazardly and out of nowhere to meet them, like farm trout rising to corn kernels. The Lehman and Bear Stearns people used to head for the same exit as he did, but they were done. One reason why, on September 18, 2008, there weren’t nearly as many people on the northeast corner of Forty-seventh Street and Madison Avenue at 6:40 in the morning as there had been on September 18, 2007.