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6 Apr 2010

Comedians/writers know more about economics than Bankers

Observe:




It's shocking that you hear so little about these two basic truths expressed in these videos, that there's nothing wrong with the economy an sich, it's only a speculation bubble that collapsed, as they will, and that consumption is not the most important or useful index in gauging the size of the economy. Isn't it weird that Bankers and other financial professionals are the only ones who keep believing in getting something for nothing? Every financial disaster can be traced back to idiots believing in easy money. And they're right to believe in it, governments will pick up the bill if you mess up, then hardly complain when you use the money to give yourself a raise. The often touted argument that you need to pay well to get the talent required is false, there is no need whatsoever for clever, new ideas in banking. The more boring and reliable the banker, the better.

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