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1) Base salary in finance is largely irrelevant. Analyst base salary just got bumped to $80K on the street. $100K for a domestic student is pretty good also. IMO, total comp is what you want to focus on and that will be significant. MSF programs are largely for younger students. Yeah, some...

Not sure why you think $70K is low. Street IB pay just recently got bumped to around $80k. If you consider this report not factoring this in you have a bunch of people getting IB pay. Notice how it says Base Salary and not all in comp. MIT is still probably the best pure MSF program in the US...

Haha. True. His wife is a real gem also. Arrested for drunk driving after crashing her Range into a tree with kids in the back. Sounds like the disaster couple from hell. I am sure this is heart breaking for all the people on the website who think finance isn't a big frat party.

I read this, absurd. I have no doubt some people in finance party, but the level this MD was at is shocking. I am amazed at his ability to wake up and function.

Haha, same as on WSO. I think you have a good profile. WUSTL and UIUC as a safety (for a Chicago play). Put an app into MIT depending on your GMAT. Vanderbilt or Claremont depending on GMAT, how you like the area and campus and if you want to get out of the Midwest.

LOL. I love how you use the same Icon on every site. I love Huskies.

To be fair, LTCM blew up in a major way and everyone there was a PhD. Sometimes being super technical can be a disadvantage. And the banks fell for a variety of reasons, not just MBA's running things. These CEO's have to worry about countless divisions and initiatives. They rely on managers...

MBA's are managers. They don't need to know how to price a derivative, they just hire someone to do it. I don't understand a rant on either party. Not everyone loves math and not everyone loves meeting clients or managing people/process. MFE grads from top schools that stand out can make just...

Thanks Andy! Sounds like a lot of things flying around right now. IMO, you don't currently have the stats for an MFE and you wouldn't be a particularly strong candidate for many MSF programs. I believe Oklahoma State U has an MSF that would be close by and something to look into. I would site...

Congrats! A very good friend of mine just got into MIT also. Amazing program, so happy for you!

60% tuition is a pretty big thing. Simon is a great business school. Just go into this realizing you are going to have to work harder (it is unfair) than others to get a job you want. Good luck!

International students are going to struggle because of sponsorship issues. So whatever you choose you need to be realistic and cast a wide net when applying. MIT is the obvious best choice. If that doesn't happen I would personally choose Washington (assuming you are talking about the corp...

Agree with Illini. Tons of firms (usually based in DC) have defense and aerospace banking and ER divisions. Hit them up and start working there. I think too many people get stars in their eyes with regards to finance. It can be awesome, but it is a grind many a time. I'd probably tell the OP...

Some hedge funds are fundamental, some are quant. This is over simplified as there are any number of strategies, but you get the idea. I read your post and am assuming you want to break into finance from your current career or just break in generally. If I am wrong let me know. The usual...

You are an aerospace engineering and want to work at a HF. I would suggest you do an MFE then. You already have the background and plenty of hedge funds deal with quant strategies. IMO, that would be the best fit. An MSF is a corporate finance focused masters. Think CFA subject matter. It will...

NASA must have not gotten the memo on not being able to launch a rocket... http://www.theguardian.com/science/2013/nov/18/nasa-launches-maven-mission-mars-water This guy is still going strong also http://en.wikipedia.org/wiki/Curiosity_%28rover%29

I agree that women in other countries are more open to STEM educations. As far as the quip at NASA, they are still putting rockets and rovers into space. Bravo to China for putting a rover on the moon, but I would hope that in 10 years China will have focused on their every growing pollution...

You have a higher percentage of women obtaining 4 year degree and we have all seen the data showing how few women are in STEM fields. Maybe this is bias against them, maybe this is personal preference, who knows, but if more women are getting BS degrees then there will be fewer STEM grads...

I wouldn't necessarily call fiat currency prudent either. The goal of the Fed is the replicate a gold standard currency while allowing for some additional flexibility. I think they've proven themselves to be less than responsible with this task.

I wouldn't necessarily call a far left article calling for government curtailment of the financial sector as persuasive. I'd support a move back towards a gold standard which would curtail the financial sector like this article calls for, but it would also curtail massive deficit spending which...

Yeah, not good. Now that a light has been shinned on it I think it will get redone correctly, but in the mean time it is a triage situation. I really wish the administration had been extra careful with this roll out since it knew all eyes would be on it. Unfortunately this is what uninsured...

Looks great Andy!

Guide is amazing Andy! Very proud to have played a small part in it.

Yeah sure, shoot me a message. Investment banking is hard to get into, keep that in mind. You might want to look at the Washington University - St. Louis program as it is more quant focused while still remaining a traditional MSF.

IMO, the MSF is best for domestic kids. If you are international I would advise casting a wide net when it comes to applying for jobs. MFE programs tend to be good for quant heavy international because (IMHO) math and engineering skills are weak in the USA and MFE jobs tend to be more forgiving...

GMAT encompasses Master in Finance, Master in Finance, Master in Financial Engineering. It is basically a test for graduate business school. I think the MBA is associated with the GMAT because it is the most well known graduate business degree in the US. The GRE is a little lighter on the...

If you are interested in investment banking you might want to look at a Masters in Finance. If you have strong math skills and the right admissions package you might want to consider Princeton's MFin program as it is sort of MSF, sort of MFE. I'll caution you though. Banking is very hard to...

You could look at Boston College. They have a well regarded MSF program and a newly started quant type MSF. It is during the day so you could maybe do a dual degree. You'd have to talk to Joshua Henry at BC to see if this is doable. Maybe Purdue as they have a traditional MSF and MFE program...

Check out the MSF at Washington St. Louis. You can do a traditional MSF and then add on Quant finance classes. I believe you can even do a dual degree. Seems like a great middle ground for you since you like math and have the skills for an MFE, but don't have the heart to do ONLY a MFE.

I know plenty of contractors, plumbers, electricians. And you listed a 30 year time span. Yes, it was in rubble right after WWII, but then the cold war came into play. Regardless, the US was the only player in the game back then. Since then you've seen the rest of the world catch up. Point...

I think you are being overly pessimistic. You can still make good money being an electrician, plumber, machinist, etc. You can't outsource those jobs and there are barriers to entry (code, unions, skillset, etc). What killed unskilled manufacturing was 3/4 of the world pulling itself out of...

Being a skilled tradesman is a great career. I do agree that for profit colleges are causing a lot of the problems (default rates, level of debt incurred, ROI), but it is people pursuing college because they think they have to that is fueling this demand for U Phoenix, DeVry, etc. Marginal...

Yeah, I could see that. I'd like to have student loans based on major and with a GPA component, but I know there would be too much complaining and too much gaming the system. I believe in the government helping its citizens make this investment and I also believe in those incurring the...

I am torn with the student loan issue. I've used them to help finance my graduate degree and consider them an investment at a relatively low rate. Then again I understood why I was taking them on and probably would have had to go about a graduate education in other ways. Not every investment is...

I agree that education has increased in price, especially in the USA. But competition in the USA has also increased. Over the last 30 years you've had the USSR democratize (debatable right now) and China go from a poor farming nation to a global powerhouse. This, combined with student loan...

I think MIT's program is a MSF and CMU is a quant program. MIT will set you up for investment banking, but doesn't have the level of math or programming that CMU has. Both are amazing brands and respected programs, but if you want to be a quant I would go with CMU.

Yes, you can either set something up before class starts or during the year. You'll have to work hard to juggle responsibilities, but it can be worth while. The internship will most likely be unpaid, but in exchange for free labor you'll learn a lot, have something to put on your resume and be...

I'd advise you to look for an unpaid internship in St. Louis. I actually did a search a couple days ago and there are a lot of firms in the city center. Email or call them and ask about the opportunity to come in on your own time and help out. Most places are open to it and it will be a good way...

I look at the Princeton MFin program to be more in the MS in Financial Math category. Much more quantitative than more traditional MSF programs. The MIT MSF kind of straddles this distinction, being used for people who want banking as well as those interested in more typical quant careers...

^^ Very correct, but I would say capital controls are the only thing keeping the money in the bank. These funds will just slowly drip out of the accounts with no new money coming in. If I had accounts in Southern Europe I would be yanking cash quick, fast and in a hurry right now.

I wouldn't say that MFin programs are more prestigious at all. They have different uses and different people go into them. Financial Engineering students aren't really competing with NYU Stern MBA's. Both can coexist without issue.

This is ruinous IMO. You will get the initial lump of money, but all confidence in the banking sector is gone. The Cyprus government should never of even uttered the word that all deposits would be hair cut. Now everyone, right or poor will start pulling money from the bank. The limits the are...

Many programs have rolling admissions. A popular program like MIT benefits from being able to compare large groups of applicants. That way they can select the best of the group.

Be a dentist, specialize in something cosmetic, open up a couple of other offices, hire other dentists and keep a cut, repeat. You can make a ton of money in Dentistry while have great hours and a reliable career. If you "love" finance just manage your own account.

I will have to go through my emails to see if I can find his info. It was a while ago. I would reach out to their admissions staff and see if they can put you in contact with a current student or something.

I wouldn't necessarily call the program new as it has been around since I have been following the MSF scene (3-4 years). They have recently revamped their website which is positive. I've had a couple people ask me about the program and I am kind of undecided. Purdue is a well known and respect...

Just get a 100% wool suit and have it tailored. Unless the suit canvassed and/or custom made you really are just paying for a name. I have suits ranging from Banana Republic, Hugo Boss, to RL Black Label and prefer the cheaper ones to the more expensive ones. I've since learned and will avoid...

I would pay to have a quality internship. If someone cannot afford the cost of living tough luck. Life is not fair and working in finance is not a basic human right. Trying to make things "fair" will only end up screwing other people. Plenty of firms in smaller cities with a lower cost of...

I did 3 unpaid internships during my masters and ended up receiving an offer from my current employer. The last thing we need is more barriers to entry in this economy. Anyone who complains about a basic wage when considering the lucrative nature of finance doesn't understand this field...

Location really is big, but as echoed above, most people won't take the effort to network. Little things like sending out an email, asking for help, going to networking events, etc, yet people simply make no effort. Location is nice if you are the kind of person who will take advantage of it...

I think this is great, but until they start offering degrees with these classes you will still have people clamoring to go to the actual universities.

I think the best way to look at the MIT MSF is to ask yourself if it is worth a $20-30K premium compared to other MSF programs. If you are a US student, looking to get into banking or trading, I cannot think of another program that will consistently put up those kind of placement stats. Now...

Wait, I am a little confused. The people who can leave the US and work are the kind of people who are 1) still employed and 2) don't really need social welfare programs. Middle management and day laborers are not expatriating to Europe or China.

Waive the right, but try and mail the app yourself (or see a copy). The people who wrote rec letters for me simply gave me the copies and I sent them in. Control the situation, don't let it control you.

This economy is going to suck for a long time. Consumer spending is crippled and the housing sector is in limbo. Only thing that is going to fix this is consumer de-leveraging which is going to take forever with stagnant salaries and lackluster employment. Honestly, if Obama wants to expedite...

I think it is more of a yearly event for people. Up all night, in line, breakfast afterwards. The deals aren't that great or only on specific items. Not like 50% off everything from floor to ceiling. I went later in the day and traffic was down. I honestly don't know how retailers are going...

One could argue that altruism is self serving. The person giving has excess resources and the utility they receive by giving outweighs what they would receive from purchasing a good or service. People give to different charities and for different reasons, but always out of a personal decision...

In response to P5 - How is doing something for free because of potentially high future profit unethical? The kid just didn't want to take the risk. While I think this article might be picking on the current generation when every older generation typically says something similar about the...

All I am saying is if you know you are going to get a lackluster review you should find someone else. The reviews are not always the most important part of your application, but if admissions is reading three reviews and all of them are blah you will be cast in a bad light. How about co...

I think a reference should be glowing or don't do it at all. I mean it is something you can directly control. Imagine you are an adcom and you tell people to get references from people who know you and then you read a lukewarm one. I would think the student didn't think this through or wasn't as...

Yeah, what Andy said. It isn't going to help your application and could only possibly hurt it. Keep things business when applying to business school.

Expect nothing and you will never be disappointed

I am reading the report right now, but from a higher level, I wish people would just agree that maybe men are naturally more interested in certain areas, as are women. In the US the majority of nurses are women, even though there is a huge demand for nurses in general and male ones specifically...

http://www.bls.gov/news.release/empsit.t04.htm Unemployment rate for people with a Bachelors - 4-5% As for the government shrinking http://www2.ed.gov/about/overview/budget/history/edhistory.pdf Dept of Education spending over the past 20 years...

So it is foreign students that are the issue? Man, no wonder this country is going down the toilet. Instead of being more competitive we find every excuse to remain lazy and punish people with drive and hunger. I would prefer to hire a non American any day of the week. America always has been...

Not to be a jerk, but while I enjoy geography, it isn't an important subject. Americans are falling behind in math and science education and people are worrying about being able to find Sudan? You take geography in grade school, but you really don't deal with it again. High school is mainly...

I understand that debt is a drag on society, but can we really blame creditors with an honest heart? For every sad story of someone getting sick and getting into debt, you have stories of irresponsible spending. Does the citizen deserve to be "protected" from a self inflicted injury? That is...

Haha, doubtful.

Most people don't care either. Nasty side effect of an all volunteer military. I enjoy geography so I am versed in it. Not too many people focus on it past grade school. Also, it is like $100 bucks to fly from Italy to all over. I am going to India and it is costing me $1300 bucks. I don't...

American's get this negative rap, but I wonder if you asked rural Indians of Chinese the same question if they could answer any better. Also, while globally ignorant, that map pretty much is how the average American interacts with the rest of the world. Call centers in India, Vodka from Russia...

Can Europeans or people from other countries identify all the US states? You quickly forget the location of Turkmenistan if you don't travel to the region frequently.

While silly and a generalization, Americans tend to be pretty inward. When you have a country the size of a continent, it happens.

Also, just to bring attention to something. While spelled incorrectly, you instantly got the message. It took me a couple passes and about a minute to reading for the other sign. This was with a stable picture and a comfortable couch. Imagine trying to read that sign in a parade or protest...

Yeah, Atlanta is cracking down also. If only they had a concise message. All this would not of been for naught.

The issue with "English Only" isn't a hatred for Mexicans, it is the fact that we have seemingly open borders. My girlfriend has gone through an excruciating process to work in this country. Only because she wasn't lucky enough to be born within fence jumping distance. I have never heard a...

I don't know BBW, outside of the city there are tons of public spaces and public parks. Even in the city there are parks and places to congregate. The issue comes when a group of people basically move into the park and make it their home. Suppose another group wanted to protest or meet or have...

1) Occupying a park, denying other citizens from its use is not freedom of speech. After a point, which in my mind we have past, you basically take ownership of a public space (this isn't even a public park). 2) The park is privately owned and the owners are being EXTREMELY nice about allowing...

Occupying a public space, designated for all free citizens to enjoy, is not freedom of speech. Besides the park in NYC, which is not publicly owned, living in a public space is not speech. These people are free to protest, free to talk on line, free to write, etc. No one is infringing on their...

OWS better do something radical soon because it is beginning to become old news. I mean as we get used to people "occupying" public spaces we lose the shock value. Once this becomes back page news the cities will just kick the people out. Freedom of speech doesn't mean permanent occupying of a...

I think what BBW is saying is that much like the Tea Party, these are normal people using simplified and sweeping justifications for their protesting. While my political leanings causes me to identify with the Tea Party over the OWS crowd, I realize that there are multiple dimensions to things...

I really wish this protest was a little less cliche. Blaming the rich and banks for the financial crisis is very populous, but where are the protests for GM that got a very large bailout. How about Freddie and Fannie which continue to use taxpayer funds. I wonder if people would even care if...

@ BBW - Sorry it took me forever to respond. I agree with you that business wants and even craves regulation, but only because it is a legal tool to eliminate competition. How many routine tasks could a Physician assistant or Nurse Practitioner do, but are prohibited because of regulation...

BBW - I have no issue with regulation, but the amount of regulation the USA has is inhibitory to business. If we got rid of the superfluous regulation and only focused on what was necessary, business would be able to grow and expand. When we have a global economy we need to realize that...

Whoa, how is the Louisiana purchase unconstitutional? Thomas Jefferson made a good case why it was within bounds and the Constitution never explicitly says that acquiring territory was forbidden.

The Constitution is not flexible. That is the whole point. The USA surpassed many nations around WWII. Our dominance accelerated because we freed Europe and rebuilt it (along with Japan). States rights are preeminent and a limited Federal government was what was intended. Hopefully Obama care...

I agree that they have the right, but I am confused when they say that this is giving voice to Americans. People always talk about big business having lobbyists, but never mention the lobbyists for the Unions, Teachers, every minority group, women, people who like pennies, etc. The post office...

1) The Tea Party is for a limited Federal government (as it was intended), a strengthening of our Constitutional rights and less government interference/taxation. Comparing them to the list of demands these guys want is insulting. 2) Someone made a great point that if these protesters had...

I think it will be more of a quant-ish MSF vs. a true MFE. WUSTL was always one of the more quant focused of the traditional MSF programs and I think it is a great idea to separate the two tracks.

Please show me time when bankers or financiers were ever liked. This is a political ploy which will end sooner, rather than later.

Start networking and going to quant type conferences. Maybe reach out to other academics who you are close with and see if they have any connections on the street. Tough job market, but not impossible.

Knew it was coming, but still shocking. I am glad that he managed to keep this private affair rather secret. God bless.

This Occupy Wall Street movement's demands are the laundry list of the far left. Obama realized that the country is moderate and being too far left is a liability. If these protesters focused on one or two demands they would be fine. By aligning them with the far left they have essentially...

So wait, people feel like it is their duty to make money, something they CHOOSE to do and they are protesting? So confusing.

Also, these people talk about being anti corporate for all people, yet fail to realize the corporations employ a large amount of Americans. These evil banks are provide financing for companies, large and small, which in turn creates jobs and wealth. If the banking system collapsed the poor and...

In the USA, the poor do not have to pay ANY federal taxes. The poor get free medical through medicaid, they get section 8, free K-12, low cost state schools, need based admission to private schools, food stamps, on and on. They are also privileged enough to be born in America. We have extended...

Is SQL something you can learn right out the gate or should you learn a base language first?

LOL I've never even been on Baruch's campus. I just find it funny how nasty people can get because their school wasn't 5th instead of 6th. Where are the Stanford kids complaining?

Andy, as a non quant, after seeing how salty Barkeley students get by being beaten by Baruch, I 100% support your ranking haha. The snobbery is hilarious. If anything, Columbia should of been 6th and Berkeley should of been moved to 7th.

Nice find. So Berkeley doesn't need the "crappy" Quantnet ranking, but proudly promotes Global Derivatives. Things that make you go hmmmmmmmmm

How is this disrespectful hahaha. If you want to move up in the only ranking out there you need to participate. What I find insulting is your ego and attitude that Berkeley is so high and mighty that they don't need to participate in a ranking. FYI, even if Baruch didn't exist Berkeley still...

Baruch was ranked 5th. How is that pushing the program? Man, I am glad I did an MSF instead of an MFE. I know people at all the main MSF programs and I have never encountered this type of vitriol. What Andy is doing is only increasing the exposure for everyone of you. The MSF and MFE are both in...

Andy has clearly explained that the information was provided in confidentiality.

I don't think anyone is looking at this as an attack on the school. I never had an issue with people debating the ranking or methodology. The issue came about when personal attacks were made. Baruch came in 5th, not 1st or 2nd. People need to relax. I don't think it is inconceivable that Baruch...

I suppose I am an evil libertarian, but why on earth would you drop 200K on northeastern when you could of gone to a state school? I realize that first generation college students might be a little blinded, but what is the solution? Should there be a government agency that goes to peoples homes...

MSF degrees generally are not quant enough to be in the same league as MFE programs. I just looked at that IAFE list and it includes most MSF degrees such as BC, Alabama, Brandeis, etc. I think Andy's list is much better and truly represents what an MFE ranking would look like.

I mean if he wants to dispute the ranking, fine, but he is acting like a petulant child. I mean only a snob would automatically dismiss the idea that Baruch might come in higher than Berkeley. As if Berkeley coming in 6th is horrible or something. I mean school fluctuate in rankings all the time.

Why would you care about how you speak or PR when you are hiding behind a screen name. You could be the dean of Haas for all we know, crapping all over Baruch, anonymously. If you are a Berkeley student I suggest you grow up and act with some humility. Here is a tip. Talking bad about a school...

Why would you care about how you speak or PR when you are hiding behind a screen name. You could be the dean of Haas for all we know, crapping all over Baruch, anonymously. If you are a Berkeley student I suggest you grow up and act with some humility. Here is a tip. Talking bad about a school...

People do create markets, but not those people. For all the anti Wall Street protesters, I ask this, suppose we do away with Wall Street. How are companies supposed to raise debt and equity? When they merge, will they over pay or get less than they should for their company? Will markets be...

I have zero affiliation with Baruch and I find the attacks to be distasteful. It is also ironic to call for transparency when offering none in return. For all we know Emalu could be a Berkeley employee.

Sure man, resort to name calling. I'm not the one hiding behind some fake screen name, crying like a baby because Baruch shouldn't be so high. I am not standing by anything. I am not a financial engineer, nor have I ever wanted to be one. I came onto this site as a blogger and have stayed as...

The problem is they think Wall Street is the enemy, when in fact only a few players really caused harm and the blame is across the board. At the end of the day, just because someone is going to give you a loan doesn't mean you should take it. If someone leaves the door open it doesn't make it ok...

You don't find any of your points conflicting. Well I do. I know Andy and I enjoy this site. With that said I find your attack on him to be disgusting. You basically call into question his reputation and accuse him of being on the take. This is pretty cowardly considering that you hide your...

I reiterate. Please point me to other rankings.

Whatever man. Please point to another MFE ranking, one that is better. Get real. Andy try's to provide some sort of ranking with a transparent metric and you cry like a baby about it. One second it is wrong because Baruch sucks or is worse than Berkeley, the next second it is because Andy is...

I see NYU Poly, GT, Baruch, etc adds being posted on here. If I was playing the lion share for this site I sure as hell wouldn't want to be ranked 5th.

US News has adds from schools in their ranking edition. Does that disqualify their ranking? So the ranking is invalid because you say Andy has some affiliation with the school? How come it came in 5th? You are disrespectful and really add nothing to this ranking or argument against it.

When did I say Berkeley was not a good school? I saw the rankings and they have Berkeley #3. They also have CMU rather far back in the rankings, yet you are not debating that CMU should be lower ranked than CMU. UIUC is also a very highly ranked engineering school as is CalTech. My issue is...

So someone getting a degree in engineering from Harvard knows more on the subject than someone from CalTech? UIUC? You argue that the ranking is garbage because of Berkeley's placement. Is Berkeley not a "better" school, on a whole, than CMU? I mean that is the whole premise. You are saying...

I posted this on another forum and got comments back about the ranking being crap simply because baruch was #5. What people fail to realize is that Baruch is a good school and well known in NYC. Also, many positions that quants would want or be hired into are directly available in NYC. When you...

As someone who has not only worked in a factory, but had a father lose his career (photo finishing) do to first mechanical advancements (1 hour photo) and then technological advancement (digital) AND then he lost his factory job to outsourcing to Mexico, I can tell you, yes, it all sucks and...

I fail to see how creationism creeped into this topic. I have two masters and have taken a total of one biology class. Didn't seem to hinder me one bit. If you asked the majority of people who mock creationism to explain evolution past "we came from chimps" they would look at you with a blank...

Outsourcing is good when you look at things from a global perspective. From a US or whatever nation is getting work take from, it is a bad thing. People need to realize that as countries develop and production shifts from unskilled to skilled, basic production will move to cheaper areas. The US...

I think Greece defaulting is only half the problem. Even if they extend the maturity of the loans and maybe take some losses, Greece will still need severe austerity. This is cause massive unrest and will only lead to cries of succession. Let's face it, the EU and Euro have grown too far and too...

I don't know, Reagan was an amazing President, an ideal of the Republican party. Republicans are also for less taxation which everyone should really support. I really wish Ron Paul was more electable. He is a true libertarian and more people should share his beliefs. As for potential...

Housing and consumer spending make up the majority of GDP and are the main drivers of the economy. Both are tapped out and need to rest and recover. Obama cannot stimulate the economy. He should understand this and get out of the way. Focus on low cost things like eliminating certain...

I think you should choose one or the other. MBA is really about brand, networking and learning/refreshing your skills. An MFE is really something you need to dedicate yourself to. If anything, see if the school has an MFE-->MBA program. I know a lot of MSF programs have MBA joint degree options...

I don't think it is racial, but more because technical people TEND to be less into office politics. Being a manager is more about relationships and office drama and someone from an engineering background might find this demeaning. Indian and Chinese people complaining of discrimination are not...

You would be correct if things got to the point where there was only enough for 1MM people. Realistically, there will be enough resources for an entire nation.

As for Chavez, I find it curious how he thinks state control will somehow succeed in his case, yet has failed in every other. Shipping all of this gold back home sounds more risky than any actual benefit he might get.

When the world breaks down and people are fighting over food, water and resources, the strong will rule the day. It is basic human nature and historically consistent. Having a powerful military will ensure that resources make their way to the US and that US assets are protected. Think of it as...

All the more reason for a large military. BBW - I am completely in agreement with you. I read Spaceship Earth when I was very young and have always considered surplus population to be the greatest problem facing the planet. I think we are reaching a point where everyone has to accept a lower...

Not to totally dismiss what happened on Wall Street, but when banks start lending to people who have horrible credit, they don't want those mortgages on the books. No one wants to buy one subprime mortgage, so you pool them up and diversify them, thinking that this will mitigate some of the...

So what is the answer. You either reduce population since large numbers are no longer needed, pay people to do nothing and be complacent or create factories that assemble nothing, simply to give people jobs?

I don't know BBW, do you really think this is about opportunity or people who have no interest in the effort needed to take advantage of that opportunity. School isn't as fun as playing video games, waking up early to go to work isn't as fun as sleeping late, etc. The people who succeed put off...

Malthusian action in the house.

Money in savings accounts gets lent out in mortgages and small business loans. Remember, deposits are the core of bank lending. When I say half this country pays no federal taxes I am talking about taxable adults, not diluted with children, etc...

You're right. Half this country pays no federal taxes. The entitlements that are making us broke are not benefiting the rich. The Rick already pay the top tax bracket which is 35%, plus state taxes, but that isn't enough. Let's milk them more and more. Or maybe we can cut spending and wait for...

How do you force someone to learn though? That is the core issue. Poverty in and of itself is not an indicator of crime. It is poverty mixed with broken homes or poor parenting. The government can provide the opportunity, but it will always be up to the individual to take that opportunity and...

I am a very strong believe in the 2nd amendment, so every now and then I check out the Brady Campaign to see what the "enemy" is up to. Here is an interesting stat from their site, which is most likely not right wing haha...

BBW, shhhhhhhhhh Stating the obvious is very dangerous sometimes.

Yah, the Chinese basically force feed education down their kids throat. Extremem? Maybe, but even really poor living conditions can't stop kids from being educated. It all comes down to parenting. You could have all the free schooling in the world, but if your parents don't emphasize education...

I am all for the government providing education for people to raise themselves up, but all the government can do it provide the opportunity. This has been a fundamental issue forever now. You can provide the education, but it is up to the parents and individual to take advantage. That is why...

Well I suppose many places in Europe are having issues with immigrants and making them part of society. With that said, I really think there is no excuse for this type of destruction and violence. Maybe some are hopeless, but many are just looking to loot and steal. Couple that with the fact...

And lets look at history for an example. Segregation and Dr. King. That was true oppression and straight up racial violence. King practiced non violence and it worked. These minority immigrants are given a lot, much more than in many other nations. Yet there is still rampant criminality and...

I don't know if it will change London. I don't think responding to criminal riots is authoritarian. What the Syrians are doing to peaceful protests, that is authoritarian. You simply cannot allow people to burn buildings and riot because they disagree with something. Yes, protest and march, but...

Not disagreeing, but the the cops shot a suspected drug dealer and gang member. The family came out and said he was unarmed, but didn't deny the gang or drug mentions. Soooooo Cops kill a criminal and people riot. This is about mob mentality, theft, criminal behavior and pure animalistic...

Defense is demonized, yet largely misunderstood. Also, people fail to realize how much benefit this country has had from defense. Internet anyone??

Everyone complains about defense. Who do you think protects the transportation water ways from pirates? The USA basically opened Afghanistan up for development. One of the largest untapped areas on the planet. The USA basically made Iraq a pro America democracy (and also one of the largest under...

Military is an actual real job of the Federal Government. Being a mom and dad to those who after 18 years still cant take care of themselves is not. Military is 20% of our budget and 4.7% of GDP. It is not the real issue here.

As people increase wealth and education they have less children. This is why immigration is so important. If the government stopped trying to influence the private life of citizens it would have much more revenue.

Politicians have zero incentive to cut spending. People are so selfish and myopic that as long as they get their entitlements they don't care about anything else. This is why I think the government always wants to increase taxes (either directly or through hidden ways). You cannot garner favor...

Look at it like this. The deficit has never been a sexy political topic. Now it is front and center. This will bring Obama even more to the center and force him to become a fiscal vanguard. We had a nice budget fight with cuts from a president and senate that would of preferred to simply spend...

The military might be 20% of the budget, but you need to really look at those numbers. A lot of the budget is pay, pensions, etc. It is not reasonable to cut the military by 90%. Cuts like that destroy the operational efficiency. The USA is not socialist nor should it ever become so. Sweden is...

I applaud the downgrade as a clear message to those in office that we need to reign in spending and fix our deficit, I think this is rather silly. All this bickering about the debt ceiling and people failed to realize that a downgrade was possible regardless of it passing or not. Monday should...

I think you will find more of a socialist tilt on this site than others or the general US population. Quant professions tends to draw a lot of Indian, Chinese, Russians, etc. Heavy math emphasized places. There are states in India that are fully socialist.

I think where you are getting it wrong is the % of the budget vs. overall GDP. The % of the budget is sizable. Of GDP it isn't that big.

US Defense Spending as a % of US GDP It is the second page. We are at around 4.7% of GDP right now. It was much higher years ago. Defense spending is 20% of the US budget. Honestly, don't see an issue with this. Now I have no problem with cutting it and I think it should be reduced, but...

Social Security is a current pay system. No account to empty. Military expenditures as a % of GDP is pretty low historically. The military costs a lot, but isn't the only thing that is draining the government coffers.

The poor usually stay passive when they don't have access to weapons or cannot organize. One only needs to look at inner city crime stats to realize the poor in this country are pretty well armed and more than happy to use them. I would like to see a decrease in poverty rather than an increase...

Didn't she get beheaded for her callous, uncaring ways? Poor usually don't stay passive when they are faced with starving to death.

I don't know, the cost of an all or nothing society is pretty steep. Bankruptcy is a wonderful creation because it allows people to take chances. Same thing with social safety nets. People need unemployment insurance, heating assistance, etc. The problem comes when people use these to exist vs...

This is a democracy within a constitutional framework. Just because the majority want to do something doesn't mean it will get done. Listen, I am 100% all for the free market and private charity doing things, but charity is not evenly distributed. When someone is disabled in an area where...

In order to be a Libertarian you need to be comfortable with the consequences. Liberty is not easy, but I think it is optimal. Some people are ok with sacrificing freedom for convenience. That is there choice. But I think we should all understand that when you start limiting downside, you also...

I don't know, I think basic government aid for this disabled or sickly is not a lot to ask. I consider it an investment in infrastructure. If the US wanted to incentivize people to donate more it could increase the amount of charitable deductions it allows on the taxes. The reason why the...

Well I am a supporter of basic social programs. You cannot have a wealthy nation without some safety nets. Problem is I really think we have gone overboard or at least ignored the true cost of these programs. On top of that we never made an effort to pay down the debt in good times. Think of the...

While I agree that the deficit has increased in part because of military spending, social security and medicare/caid are on an unsustainable path. Not saying they need to be cut, but at least reorganized/structured. Other than AIG and GM/Chrysler, the Wall Street Bailouts have been a break even...

While I am not particularly in love with our present choices in the US, wishing for multiple parties is not necessarily the solution. Take a look at Italy and their multitude of political parties. The political process might look dysfunctional, but it is pretty profound that the deficit has...

Whoa, I didn't see that I was called out in the original post. Glad to see that my reputation precedes me. Cuts will come my friend, no worries.

Raise taxes? You think the government deserves more than 1/3rd what a man earns. Sorry, but God asks for 10%, no way the government deserves 3x that. Live to do without.

If you can't borrow more you need to decide whether you default or cut other expenses. Defaulting is a scare tactic. We could stop war spending, we could lay off government workers, we could cut entitlements, etc. Instead, we will default on our debt before anything else. Rating agencies are...

Abel is 100% correct. A nation without laws is a failed nation. If you come into this nation illegally and work illegally you will be caught. This isn't something that you can wait out and hope changes. Millions of people have come into this country legally and illegal immigrants insult all...

I am a huge proponent of legal immigration. It amazed me the hoops and the hassle that my GF had to go through to work and stay in this country. She has a binder 6 inches thick with paperwork. She did the right thing. Listen, people will do what they have to do, but the US makes things too...

I fail to see how not being an American is the same as jail. Many people travel to Mexico for business and vacation. We are not talking about Somalia here. I would be even willing to allow illegal immigrants to go to US universities, but when a nearly bankrupt state is using tax payer funds to...

The true blame lay with the government which allows illegal immigration to thrive. An enforced boarder and active enforcement would make it difficult for people to illegally enter this country. As for things being unfair to the children of illegals, we need to be honest about the fiscal...

I think MIT does it better than the rest, regardless of department. They are really firing on all cylinders over there. I am waiting for NYU to start up an MSF or another elite school. I think it is just a matter of time. The transparency is also nice. People ask me about programs and I usually...

I still think you can do well with a bachelors, but if two pretty equal candidates apply and one has a masters, it is pretty natural to go for the more educated person for the same price. If you look at the statistics of education in the US there still isn't a lot of people with bachelors, let...

I think stealing implies ownership. The job goes to the person who can do it best.

I don't know, building data rooms and making cims really isn't rocket science. Banking is about the hours and pleasing customers. It is not rocket science.

These kids are babies. I worked 85 hours in a factory during a 5 day week on more than enough occasions. I did 24 hours straight when I managed a gas station. SA's typically get overtime also so they are pulling in serious cash. Don't go into NYC bulge bracket banking if you are not ready to do...

Get used to living in hell, with a crap view for a ton of cash. If you can get a quant role in any city other than NYC, in the early years, I strongly suggest it. NYC is great when you are a VP and up.

Not sure if Tea Party would be disaffected, at least according to the studies standards. I would think voters who don't identify with either party and don't vote. Tea Party voters are mainly more ideological Republican and would vote Rep if left with no other option. Disaffected to me means...

It is about time. I had all of my books in PDF form when I did my masters. Text books are generally a huge waste of money with few exception.

http://people-press.org/2011/05/04/section-4-the-recession-economic-stress-and-optimism/ Middle of the page you see an income breakdown.

How do you figure that one?

50% of the people in this country pay no Federal taxes, yet enjoy Federal benefits. I have no doubt that half the country could careless about the budget since they gain everything and pay nothing.

Maybe positive thinking is the wrong idea. I think being realistic is essential, but determined and not giving up are attributes of success. Also, for every person out of work and broke because of structural changes, there is at least another person out of work and broke because they give up and...

Finviz pro is pretty awesome.

Finance analyst? That is too vague. Do you want to work in investment banking, asset management, etc or do you want to be a quant, financial engineer, trader, etc. If you want to be an analyst in the banking/F500 sense, I think a MSF would be ideal. If you want a job that involves programming...

If the poor can be bought for $5o bucks it says more about them than the country. Becoming middle class is really easy. Get a college degree in something relevant and don't go into debt. Outside of illness or family issues most people fail at this because they over spend or don't go to school...

I think anyone who pays taxes should get a cut. Why are rich people somehow not entitled to keep what they earn. I suppose fairness and ethics go out the window once you make a certain amount of money. Maybe poor people should be allowed to steal from those making over 150k. I mean if I don't...

Building a complex jet fighter and a LCD TV are a little different. Chinese made goods are very high quality when you consider the cost. Shipping something from China is a lot more expensive than transporting it from Mexico. By a lot. Pittance? You pay no taxes yet you receive benefits. If you...

Reach out to an Asian Networking group or something. I am sure you are not the first Indian to move to NYC by yourself.

Greece should default. It will be painful in the near term and in 5 years they will be able to enter the markets and raise debt. Russia did it as well as other countries. Only feasible, non bankruptcy option, is a discount on the debt they owe. Maybe take a 20-30% haircut.