Reply to: The real problem with financial markets

[threaded]

The economic slave never realizes he is kept in a cage going round and round basically nowhere with millions of others.

[Doggy Styles]

New sources of power, the ability to manipulate material at an atomic or even subatomic level, the ability to manipulate gravity or any of the other forces working on us. Sounds outlandish I know, but if you’d said tried to explain semiconductors only 100 years ago, even the most educated people would have given you a vague look and perhaps told you to take another pill.

Indeed, as an apprentice engineer in a Defence electronics lab 30 years ago, and inspired by that Firefox story, I proposed using "thought" (actually a-waves and all that stuff) to control electronic apparatus - and was gently laughed at by my professory team.

But now it has come to pass. I could have invented something before threaded...

[AtW]

I think that is unwise. Those buildings could easily be converted to hotel space, and the unfinished ones would provide the ideal framework for some kick-ass roller coasters. Otherwise your plan has some merit.

The place is cursed - there would be regular crashes on that rollercoaster with people responsible getting massive bonuses anyway

[Scary]

I think that is unwise. Those buildings could easily be converted to hotel space, and the unfinished ones would provide the ideal framework for some kick-ass roller coasters. Otherwise you plan has some merit.

They started just before the turn of the century, built a big wheel and a big top, but then the plan kind of fizzled out...

[Moscow Mule]

What I am proposing is to knock all those high raise buildings down in that square mile and build Disney Land - all the former City employees will have to get a job for at least 10 years in order to work out their debts to society.

sasguru will be one of the klowns

I think that is unwise. Those buildings could easily be converted to hotel space, and the unfinished ones would provide the ideal framework for some kick-ass roller coasters. Otherwise your plan has some merit.

[AtW]

How galling it must be for you that you work so hard for so little.

Hard work - yes, so little? No.

[sasguru]

Bollox - you have not been working for 23 minutes, at least in the last 10 years on this forum

How galling it must be for you that you work so hard for so little.
But the world was never fair.

[AtW]

Are you proposing that the City go back to selling money, instead of risks?

What I am proposing is to knock all those high raise buildings down in that square mile and build Disney Land - all the former City employees will have to get a job for at least 10 years in order to work out their debts to society.

sasguru will be one of the klowns

[AtW]

I've been working for 23 years cretin. And if I invested 5 years ago I wouldn't have made much. Not terribly bright are you? In the SY camp when it comes to IQ, I fear.

Bollox - you have not been working for 23 minutes, at least in the last 10 years on this forum

[Bright Spark]

The real problem with financial markets now is they are nothing more than glorified casinos or betting
shops, before the big bang (1986 de-regulation). there was a lot more longer term view and those markets were controlled by people
with more sense and perspective.

[Mich the Tester]

2 words: kid(s) education.

Very understandable and I certainly can’t criticize you for that. It just seems a little sad to me that while over here in NL most of the people I know have been through European state education systems and gone on to do well in their chosen fields, weren’t beaten up by chavs every day at school, and seem to be pretty well adjusted human beings. Perhaps this is a British problem; the need to earn lots of money to give your children a good education. I can empathise here; I was sent to a private school in England after I’d been bullied every day at state school for being ‘the rich kid who lived in a big house’. In reality, my parents weren’t fabulously rich (public service, ie the army and academia were not renowned for paying huge salaries in those days) and the house was a pretty normal detached house; but it was enough to make the local chavs feel I was different and give me good kicking every day.

[sasguru]

PhDs don't pay for your kids to go to private school - which, where SAS lives, is a prerequisite to not having your child stabbed.

Tis true. Not a single decent secondary school in Wandsworth.
Other solutions are
(1) move out of the country
(2) move out of London

[Moscow Mule]

2 words: kid(s) education.

If they can make it there, they'll make it anywhere

[sasguru]

So why not do what I hope to do in the future? Stop working for money, go back to university and do a PhD in something you find interesting and which has some real meaning in this world?

2 words: kid(s) education.

[Moscow Mule]

Islamic system has got a flaw in which earning interest isn't allowed - this effectively kills lending, well, they do lend and they do earn money but they just have to work it around so that it technically fits imposed limits.

Earning reasonable money on long term investments is a fine thing - what's not fine is when people can earn far more on short term speculations of stuff they never get to touch or use, you know those electronic trades - all that prevents banks from investing long term because why the heck would they invest into company for a few years with risks when they can make 2-3% in a space of a few days if they guess direction of the market well.

Are you proposing that the City go back to selling money, instead of risks?

So why not do what I hope to do in the future? Stop working for money, go back to university and do a PhD in something you find interesting and which has some real meaning in this world?

PhDs don't pay for your kids to go to private school - which, where SAS lives, is a prerequisite to not having your child stabbed.