UK slipping into recession "like old man lowering himself into a bath"

[BrilloPad]

That's exactly right sassy. You dont solve a financial crisis from the bottom up.

Indeed. You print loads more money and pour it into the top. And hope for a trickle down.

The last crisis was caused by borrowing too much. Solution - borrow even more.

[OwlHoot]

Yes, basically the government would start a VC company. It would not give out funds to any numpty but those who are vetted as top end and entrepreneurial will be deemed a good bet. Entrepreneurship will be integrated into the uni curriculum.

It need proper policing to run it well- but it could be done.

Although it feels like coming out as a kiddly fiddler, I must admit I agree entirely with sas on this.

Politicians and civil servants have been, are now, and always will be, pitifully worse than useless at judging merits of new technical ideas.

One problem is they usually have hopelessly wrong and outdated attitudes, such as preserving existing industries and large companies, and perverse and even corrupt incentives.

[sasguru]

From that I conclude you were a loser in the UK. Therefore, your opinion is not relevant.

Says the self-described "Mediterranean beach bum" who does code maintenance in middle age.
The irony is strong with this one.

[shaunbhoy]

Says the self-described "Mediterranean beach bum" who does code maintenance in middle age.
The irony is strong with this one.

Says the Doorman/Lift Attendant at Morgan Stanley!

[Fronttoback]

Says the self-described "Mediterranean beach bum" who does code maintenance in middle age.
The irony is strong with this one.

I speak the local lingo like a native, I retired to the med at 40- I've unretired because it didn't suit me. And I live very well sassy- no commuter grind- just midnight dips in the warm med before sleeping on my day bed under the stars. I still visit my client once a month-so I get to socialise with big city slickers like you. You make me laugh- you talk like a winner but you're a long way from that. Has your chess program made a move yet?

[tiggat]

But it's right. The big money is made at the top. That requires support staff at many tiers. Once the big money goes, support staff start getting chopped. I've done 20+ years in the banks. I'd love your version...

If support staff weren't needed then why would they be hired in the first place? Just because someone originates a trade that makes millions doesn't mean they've done it themselves.

[tiggat]

The last crisis was caused by borrowing too much. Solution - borrow even more.

If conflicts of interest had been properly disclosed "too much borrowing" would never have taken place.

[BrilloPad]

If support staff weren't needed then why would they be hired in the first place? Just because someone originates a trade that makes millions doesn't mean they've done it themselves.

And sometimes traders rely on the team around them. The hedge fund I worked at got a trader from GS. £800m profit in previous year. Sacked after 11 months....

[Fronttoback]

If support staff weren't needed then why would they be hired in the first place? Just because someone originates a trade that makes millions doesn't mean they've done it themselves.

Ah, someone who can argue logically. This ain't sassy, my apologies.

Roughly it's a pyramid. The few at the top make the most money. Those on the level below contributed to that work but get paid a bit less. However, their contribution is more fungeable. Keep going down the pyramid until you find sassy selling cakes to interns. Everybody makes money inversely in proportion to his fungeability. As more money comes in, people decrease their capacity.

[sasguru]

I speak the local lingo like a native, I retired to the med at 40- I've unretired because it didn't suit me. And I live very well sassy- no commuter grind- just midnight dips in the warm med before sleeping on my day bed under the stars. I still visit my client once a month-so I get to socialise with big city slickers like you. You make me laugh- you talk like a winner but you're a long way from that. Has your chess program made a move yet?

You seem obsessed with my chess program of > 30 years ago.
I think it's because deep down you realise you're not really in my league, at the age I was wrestling with Shannon's seminal paper, you were reading the Beano.
And you "unretired" to so something dull like code maintenance? Really? Why?
You come across as not very bright to be honest. Your "solution" to post-Brexit is to do roughly the same as what we were doing pre-Brexit?
TBH, the stench of loser that emanates from you is overwhelming. You're one of these support staff you're talking about, are you not?