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The Bull and the Bear
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Could it be that much of the technology actually results in much less requirement for labour though?
That is what these guys thought, didn't quite work out that way.
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Both of them are very convincing but only one can be right.
QUOTE]
It brings to mind a line from a song by Dire Straits (appropriate for the bears)
"Two men say they're Jesus. One of them must be wrong....."
In all likelihood both may be equally wrong with their predictions for the economic future. Everyone has an opinion, but most prove to be false prophets."When the people fear the government there is tyranny, when the government fears the people there is liberty." - Thomas Jefferson0 -
We're entering an unprescendented era of prosperity, a third industrial revolution, following a period of rationalisation.
Remarkable optimism considering the effects of the banking crisis haven't been fully felt yet.
Boom was over 30 years ago when Japan invented robotic machine tools and IBM the PC.0 -
Thrugelmir wrote: »And the USA? At current rates of spending Medicare will consume 60% of all taxation revenue by 2020. An unaffordable committment.
They're asset managers, 7 years is over the horizon!
With US unfunded commitments, if they can't be afforded they won't be paid for. This is where the Deomocrats are playing a very dangerous game with the deficit. The Republicans are saying that the US has to stop promising itself stuff it can't pay for which is mathematically correct. The Democrats are trying to paint maths as an attack on the poor.0 -
They're asset managers, 7 years is over the horizon!
With US unfunded commitments, if they can't be afforded they won't be paid for. This is where the Deomocrats are playing a very dangerous game with the deficit. The Republicans are saying that the US has to stop promising itself stuff it can't pay for which is mathematically correct. The Democrats are trying to paint maths as an attack on the poor.
This is a classic case of how vested interests have run totally out of control. The rise and rise of healthcare costs alone is enough to bankrupt the US as the remedies to bring it down to reasonable levels are unpalatable and unsaleable by either party.0 -
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Thrugelmir wrote: »Maybe their days are numbered then.
Maybe.
Actually there seems to be a secular shift going on where asset managers are trying to take a longer viewpoint. That does depend on clients being prepared to so the same thing.
As long as clients want a strong performance every quarter, they'll get short termism. Generally in a capitalist society you get want you want if you're paying for it.0 -
This is a classic case of how vested interests have run totally out of control. The rise and rise of healthcare costs alone is enough to bankrupt the US as the remedies to bring it down to reasonable levels are unpalatable and unsaleable by either party.
Alternatively they could cut out the middlemen to save some cost."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
As long as clients want a strong performance every quarter, they'll get short termism. Generally in a capitalist society you get want you want if you're paying for it.
Maybe the GFC triggered one of those pivotal historical moments. Which will cause a change in attitude. Where long yerm sustanability becomes the goal. Rather than instant profit.
Unlikely banking will ever be the same industry again.0 -
Thrugelmir wrote: »Remarkable optimism considering the effects of the banking crisis haven't been fully felt yet.
Boom was over 30 years ago when Japan invented robotic machine tools and IBM the PC.
The IT revolution was revolution number 2, I'm on about number 3 now being under way.
I think you will be very surprised how things pan out the next few years.
Banks are putting on masses of cash and they will be a very attractive asset going forwards.
Just promise me that as this boom gets going please don't start threads saying it's gonna end next week!:rotfl:0
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