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Well,
Banking is certainly valuable and necessary, but bankers in the generally accepted context of the term are another matter. Simply providing a banking service doesn't involve armies of people speculating, creating money out of thin air and the like and that's the sort of thing many, myself included, take exception to.The analogy can't properly relate to modern roles though. You could pick almost anyone off the street and make them a cleaner, but for banking we need a bank. I think nobody will deny that cleaning is a necessary service, but so is banking in the current system. Almost everyone borrows, saves, and transfers money. Banks are necessary and in such high demand that they can charge what they do. I would suggest they're worth what others are willing to pay. Many won't agree, but will also continue to pay these guys. We'd see whether banking is perceived as more valuable than cleaning if banks shut down, resulting in massive unemployment, and no loans for houses, cars and huge tvs.
.Look around you and see what's happened. We kicked out the engineers, scientists and so on and put bankers in charge. Now the roads are falling apart, the trains don't work, we're running out of water, we're stuck in a communications backwater and the power grid is ready to fall over as well. Meanwhile we've lost most of our productive industry and locally owned companies whilst accumulating a mountain of debt. That is the legacy of bankers running the world
The wasted money that went into producing a short term spike in retail figures with the $900 handouts could have much better been used for infrastructure.Good post Smurf1976
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Infrastructure is becoming an obsolete word as there is no short term money to be made in producing something of long term value to the public.
How can you assume what the motives are for any of them, though? They're not all teachers because they love to guide, and help others. Many may teach for entirely different reasons - in some cases, "selfish" reasons. I know of a few that teach because their corresponding private field was too stressful, and they now enjoy a lot of holiday time.
Work is just that, work. We all have to work - and not every job is of benefit to others. But, who cares about that? Again, would a teacher work for free? Obviously not, because it seems as though they're always going on strike!
What is done outside of work is what is of true value. The article seems to be stereotyping. In that all bankers are evil white-collared blue-bloods, whilst the blue-collars are all saints.
I'm sure many bank managers donate to charity, help out in the local community, and so forth. Now, how many cleaners do you know that do that? I would postulate that very few would. Why? Well, substantially less disposable income is as good a reason as any.
I would really like to see how they came up with those figures as well. Because honestly, I cannot envision any scenario where the lady at the mall with the giant mop is generating 10 times her dollar-paid value. Or, is it only hospital cleaners?
Do you really have to have basically the same display picture as me?
No but seriously.
Smurf1976 said:Banking is certainly valuable and necessary, but bankers in the generally accepted context of the term are another matter. Simply providing a banking service doesn't involve armies of people speculating, creating money out of thin air and the like and that's the sort of thing many, myself included, take exception to.
For years we've heard arguments against state-run entities, how "competition" is so wonderful, how free markets will save us and so on. Sorry guys, but that's crashing down in a big way now as we see "competitive" markets pushing prices up, not down, destroying real industry and welath in the process. And that's without even mentioning the GFC.
Look around you and see what's happened. We kicked out the engineers, scientists and so on and put bankers in charge. Now the roads are falling apart, the trains don't work, we're running out of water, we're stuck in a communications backwater and the power grid is ready to fall over as well. Meanwhile we've lost most of our productive industry and locally owned companies whilst accumulating a mountain of debt. That is the legacy of bankers running the world.
Lose, lose and lose again as far as anyone other than the bankers themselves is concerned.
This is nothing new, as bankers have held their positions of influence for centuries. As for those problems, why blame bankers? Why not blame politicians and yourselves for not demanding better?
Mr j, do you blame the police for crime?
In the context that I'm using the term "banker", the answer is basically "yes". Providing a basic banking service doesn't require that anyone end up with several times the world GDP in derivatives that nobody properly understands.Would banking exist without bankers?
Agreed we don't have free markets. But think about these:I don't recall any free markets, but then I might have dozed off for an hour or so. Without competition, Telstra would be even worse than it is, and it is horrible. How do you know how high or low prices would otherwise be? Perhaps state-run services may have lower prices, but subsidised through tax?
Indeed they have. But prior to the 1980's, infrastructure decisions were generally left to engineers who tended to focus on the long term rather than the short. Then the banking types rose to prominence in the 80's and 90's, promptly putting a stop to such long term planning because it didn't deliver an immediate profit.This is nothing new, as bankers have held their positions of influence for centuries.
Can't argue about that. Australians seem to be very easily fooled on such matters and, with the odd exception, don't do anything about it.That's actually a great deal for them, as their relative wealth skyrockets. Again, don't blame them, blame those who don't do anything about it, which is almost everyone.
Smurf, could you outline how the household water supply issue could be fixed?Now we're seeing the same with household water supply. Lots of obvious things that can be done that any engineer can see.
It's a bit off topic but the basic process and engineer would do is as follows:Smurf, could you outline how the household water supply issue could be fixed?
Indeed.So maybe this is a good example of something working well when engineers were in charge and bankers kept out of it.
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