Paying the mortgage

[Deleted User]

CLAPTON wrote: »

I know a wide variety of people and I fully except that in difficult economic times young people starting out suffer a lot: that was equally true in previous recessions; but saying that youth have been abandoned is plain stupid.

I think you mean "accept".

John1993_2

DELETED USER wrote:

These days two people living on £25k/year, no matter how frugally, is almost impossible in many parts of the country. Rent, energy and food easily eat that up. £50k is twice the national average. You were extremely well off and lucky to be able to do that. Good for you, but hardly a realistic option for most of us.

Why is it not a realistic option for people to earn more? Work hard at school, do extra study, make sure that you get into a better university, and then spend the next twenty years intelligently working as hard as you can to get into a job with a very high salary.

Most people with whom you are competing won't work that hard, won't plan out their career, or won't have put in the effort to get the education and qualifications that they need, so you'll nearly certainly get there.

John1993_2

PaulF81 wrote: »

Here's something for you. I'm an engineer by trade too. I reckon 60% of those who did engineering on my course left to do financial instruments, or some other useless interpretation of my course

If it was useless, no-one would be paying them hundreds of thousands of pounds to be doing it.

Please don't assume that just because you can't see the use in these products and functions that there is no use in them.

One of the functions of a degree is to show the ability of the student. An engineering degree demonstrates numeracy and an ability to sensibly manipulate quantities to generate a useful outcome. This is very useful in finance. At least as useful, frankly, as engineering the shiny red sports cars that we like driving...

CLAPTON

DELETED USER wrote:

I think you mean "accept".

throw, glasshouses, in, stones, don't, people,


re-arrange into a well know phrase or saying.

Thrugelmir

John1993 wrote: »

If it was useless, no-one would be paying them hundreds of thousands of pounds to be doing it.

Perhaps it made the winners millions of pounds. Of course for every winner there's a loser. Who after the credit crunch turned out to be taxpayer. Who has had to bale the banks out.

Much of the activity and trade of investment banks during the credit boom era had no benefit at all to the wider economy.

chucky

Thrugelmir wrote: »

Much of the activity and trade of investment banks during the credit boom era had no benefit at all to the wider economy.

Really!?

Your treatment at the doctor and NHS hospitals is financed by corporation taxes on the profits the financial institutions made. The income tax paid by employees of these companies also contributed to it.

Do you think the government makes up the money to pay for your Winter Fuel Allowance and Free Travel Pass?

John1993_2

Thrugelmir wrote: »

Perhaps it made the winners millions of pounds. Of course for every winner there's a loser. Who after the credit crunch turned out to be taxpayer. Who has had to bale the banks out.

Much of the activity and trade of investment banks during the credit boom era had no benefit at all to the wider economy.

Rubbish. Utter rubbish. Why do people with no real understanding of investment banking write this stuff?

Even if it were true, though, it would be irrelevant. Something does not have to be useful to the "wider economy" to be useful at all. All sorts of people in all sorts of businesses do things that are only useful to a narrow client base, that doesn't mean that they are useless.

John1993_2

chucky wrote: »

Really!?

Your treatment at the doctor and NHS hospitals is financed by corporation taxes on the profits the financial institutions made. The income tax paid by employees of these companies also contributed to it.

Do you think the government makes up the money to pay for your Winter Fuel Allowance and Free Travel Pass?

Precisely. I suppose that car insurance and house insurance are useless, too, as are mortgages, commercial loans, bringing bonds to market, issuing equities...

Of course any attempts t counter hiis idiocy with actual activities will result in the pulling out of the "no true scotsman" fallacy. "Oh, yes, but I didn't mean that activity, it's all the other ones which are useless."

There's a reason that few of us in banking will put in the effort to educate people on what we do any longer; those who criticise don't actually want to learn, they prefer just to make ignorant, disparaging comments from the sidelines, while complaining that we are well paid.

OffGridLiving

I thought Thrugelmir worked in finance/banking?

chucky

John1993 wrote: »

Rubbish. Utter rubbish. Why do people with no real understanding of investment banking write this stuff?

Even if it were true, though, it would be irrelevant. Something does not have to be useful to the "wider economy" to be useful at all. All sorts of people in all sorts of businesses do things that are only useful to a narrow client base, that doesn't mean that they are useless.

They continuously post riddles to try and sound intelligent, unfortunately there people who have a tendency to believe it...