"Banks have done very little for society but generate bonuses for themselves."
"I don't know what you could do with these wall street, derivatives people other than use them as drivers, but even then you want someone less reckless."
"I was on wall street for 21 years and there are a lot of people I wouldn't use for anything."
"And calling that tallent is a very strange use of language. People who lost 4.3 trillion world wide."
... I know what you could do with the traders... isn't the army looking for recruits?
Capitalizt
That's my nigga!
Here are two related videos I found while browsing the links from it..These people have it right too, especially the guy in the first clip.
jerZ07002
quote:
Originally posted by atbell
"Banks have done very little for society but generate bonuses for themselves."
arguably, modern banking is one the most important factors in the speed at which technology and the world economy has expanded. banks are the primary intermediary that bring together those with excess capital and those with capital requirements. anyone who denies that vital role is a ing retard.
investment banks provide the same capital alignment roles and also important hedging roles. almost every major corporation seeks to hedge their exposures to unwanted risks. they couldn't do it without investment banks. that provides certainty and job security. without hedging, certain businesses would be affected by unwarranted risks and jobs would be less stable (probably not on a huge scale, but even that it is relevant).
DOOMBOT
quote:
Originally posted by jerZ07002
arguably, modern banking is one the most important factors in the speed at which technology and the world economy has expanded.
Speaking for the USA, we saw our greatest economic growth in the 19th century. Looking into your comment a little more, maybe that is not what you are trying to say. But real economic growth comes from actually producing things for a nations own citizens, as well as the world economy. This is something that the USA has been seriously lacking as of late.
Brahman
quote:
Originally posted by DOOMBOT
Speaking for the USA, we saw our greatest economic growth in the 19th century.
Where did you get that stat?
Fir3start3r
quote:
Originally posted by DOOMBOT
Speaking for the USA, we saw our greatest economic growth in the 19th century
Originally posted by DOOMBOT
Speaking for the USA, we saw our greatest economic growth in the 19th century.
The US saw its greatest growth after WWI.
quote:
Originally posted by DOOMBOT
But real economic growth comes from actually producing things for a nations own citizens, as well as the world economy. This is something that the USA has been seriously lacking as of late.
that's not true. under that definition most asian countries wouldn't have growth because they don't produce things for their own citizens. Instead, they produce to export. Economic production is simply producing something someone else is willing to buy. The US produces tons of the world is willing to buy (food, natural resources, education, pop-culture, legal services, technological services, airplanes, heavy machinary, etc...)
DOOMBOT
quote:
Originally posted by Fir3start3r
See United States Industrial Revolution.
DOOMBOT
quote:
Originally posted by jerZ07002
that's not true. under that definition most asian countries wouldn't have growth because they don't produce things for their own citizens. Instead, they produce to export. Economic production is simply producing something someone else is willing to buy. The US produces tons of the world is willing to buy (food, natural resources, education, pop-culture, legal services, technological services, airplanes, heavy machinary, etc...)
Right, I understand that China exports more then it gives to its own citizens, which is why I included you must produce for either other nations or your own citizens. Because like you said, to put it simply, you need to produce something that someone else is willing to buy. Sorry if I wasn't clear about that.
The US produces a lot of things, I understand. But we consume way more then we produce, which is why we are currently in a world of . And our consumption has only been possible due to the massive amounts of inflation we've created. That, to me, is not economic growth. That is called digging yourself a major economic hole.
Brahman
quote:
Originally posted by DOOMBOT
See United States Industrial Revolution.
See compounding interest. The more you have the more you make.
DOOMBOT
quote:
Originally posted by Brahman
See compounding interest. The more you have the more you make.
I'm not exactly sure what that has to do with the industrial revolution in the US. Explain?
