«Negative interest rates are a total disaster»

Discussion in 'Economics' started by Banjo, Jun 19, 2016.

  1. Banjo

    Banjo

    Charles Biderman, founder of the research firm TrimTabs speaks up against monetary interventionism and spots a concerning development in the US stock market.
    "The politics of fairness have created the economics of hopelessness. We’re following the European model which is to maintain the status quo: Don’t let competition damage or disrupt existing businesses. The politics of fairness create anti competitiveness because if you are guaranteeing workers a job for a lifetime you want to make sure the company they work for doesn’t go out of business."

    http://www.fuw.ch/article/negative-interest-rates-are-a-total-disaster/
     
    zdreg and speedo like this.
  2. Banjo

    Banjo

  3. Banjo

    Banjo

  4. achilles28

    achilles28

    It's the pussification and dumbing down of the world

    People want cradle to grave socialism and have no idea how the economy works.
     
  5. clacy

    clacy

    Expect the trend toward socialism to continue. The millennials have been raised by helicopter parents and given participation medals all their lives. Your stuff will be their stuff soon.
     
    zdreg likes this.
  6. NA baby boomers are the most spoiled generation in history and haven't fully paid their bills in the US. Millennials seems to be a far more responsible generation, and many have actually been faced with uncertain and limited career choices and large student loans. It is absurd to blame millennials for the greedy ass habits of baby boomers and what that has done to the economy.
     
  7. clacy

    clacy


    I don't disagree that the boomers have had a nice free ride with low taxes and high benefits. The difference is that the millennials seem to be leaning toward socialism and don't likely have the experience to understand how disruptive that will be.
     
  8. Things will change regardless of what people think. It has to. Too many sociopaths run corps these days, and seem obsessed with getting more wealth then helping society or even fully enjoying their own life. Many CEOs make far too much money and gift themselves and their direct reports even more money ( whatever they can get away with ). Heads of various orgs in things like hospitals and charities keep giving themselves more and more money, even if they provide little or no value for it.

    For example, numerous bureaucrats who brought the Pan Am Games to Toronto claimed they'd stay on budget, but everyone knew they wouldn't. They set up large bonuses for making budget targets, primarily on the backs of volunteers. When they blew through budgets, they changed the parameters and still gave themselves huge cash rewards in top of their huge contract salaries. It's unethical and wrong, but far too common in today's world.

    Another example, local hospitals always claim budget shortfalls and actively solicit donations from the public. Meanwhile, the heads of those hospitals make obscene, undeserved salaries.

    When the system gets so blatantly unfair, things have to change. And the changes may initially be overkill, but they have to happen.
     
    VPhantom likes this.
  9. zdreg

    zdreg

  10. clacy

    clacy


    Maybe so, but government bureaucrats and wealth redistribution by politicians will not work to solve those issues.
     
    #10     Jun 19, 2016