Richard Grasso, former Chairman of the NY Stock Exchange,greeting a Colombian FARC commander
"The recent departure of New York Stock Exchange Chairman Richard Grasso makes this article, first published in 2001, very prescient, especially in the light of Mr. Grasso's trip to Colombia where he met FARC commanders responsible for providing security for narco-traffickers.Was Grasso making an in person sales call to negotiate with the drug cartel which was threatening to pull their investments from the stock exchange?That might be worth a $140 million pay package." – Uri Dowbenko
A Simple Framework:The Solari Index and the Dow Jones Index
The Solari Index is my way of estimating how well a place is doing. It is based upon the percentage of people in a place who believe that a child can leave their home and go to the nearest place to buy a popsicle and come home alone safely.
When I was a child growing up in the 1950's at 48th and Larchwood in West Philadelphia, the Solari Index was 100 percent. It was unthinkable that a child was not safe running up to the stores on Spruce Street for a popsicle and some pin ball. The Dow Jones was about 500, the Solari Index was 100 percent and our debt per person was very low. Of course I did not think about it that way at the time. All I knew was that life on the street with my buddies was sweet.
Today, the Dow Jones is over 9,000, debt per person is over $100,000 and my favorite hairdresser in Philadelphia ...[ click here for full text of article ]