Is the FTSE going to tank on Monday following the downgrade news?

grey_gym_sock

there were a variety of different constitutions in different ancient greek city states. some more democratic, some more aristocratic, some mixed. lottery was indeed regarded as more democratic than elections.

there's no good reason while we couldn't select 1 of the houses of parliament by lot, while electing the other. lottery is IMO a better method of selection than inheritance or appointment by the PM.

veryintrigued

grey_gym_sock wrote: »

according to www.parliament.uk, there are currently 648 MPs and 760 members eligible to sit in the lords. so a lot more than italy.

however, in the lords, they're not paid, except expenses, so does that make it OK? or is it bad because it means that only members who are wealthy enough that they don't need to work will be able to attend? the latter was the argument made for starting to pay MPs a salary - they weren't paid at all back in the 19th century.

the pay level of MPs should be based on what kind of MPs we want to have. e.g. will a higher salary attractive better candidates, or candidates more motivated by money? the cost of paying them is not significant per voter in the UK.

You may be suprised how much they can claim. Up to £300 daily allowance, very generous travel expenses for them and family, select committee benefits. Dont worry the gravy train may not be chugging so fast...but its still chugging....

http://www.parliament.uk/documents/lords-information-office/2012/Guide-to-Financial-Support-for-Members-2012.pdf

talexuser

£300 daily allowance, £1500 a working week, ~£72000 for one of our working years, plus expenses, for sitting on a bench. How many turn up to sign in and then just go home again?

veryintrigued

talexuser wrote: »

£300 daily allowance, £1500 a working week, ~£72000 for one of our working years, plus expenses, for sitting on a bench. How many turn up to sign in and then just go home again?

Remember the blurb from the official line we're told though - its not a salary :rotfl:

grey_gym_sock

ok, i didn't realize there was anything a high as £300 a day ... but actually, i'm thinking that's quite a good idea, because it means they don't need to be wealthy in order to afford to attend ... i don't expect anybody to agree with me on this 1, though

blinko

FTSE now looking massively overbought, needs about 6 % correction in my honest

black_taxi_2

Many hedge funds have been burned saying correction since 2011