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Politics/life too complex for Joe Public?

SocketRocket said:
OK then if you are going to call me out. I am a retired Chief Executive Officer (MD) of a very successful Software company with many International offices that developed and sold Software Engineering solutions to many leading manufacturers throughout the World. I have a Degree in Production Engineering and an MBA from the OU, I am also a Member of the Institute of Mechanical Engineers and a Fellow of the Chartered Institute of Management. So your wild stab in the dark is a little off course. I have read more books on the subject than I can remember. Still lost for words?
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I am impressed with your credentials. Do you not see any inequalities in the current economic structure? Do you feel that it gives everyone a fair go at making it? And I'm not just talking about local or regional but also global?
How long do you think the current ways of working (politically, economically) will be suitable?

Current systems can't be considered acceptable surely? (And stop calling me Shirley), given the constant rising gulf between richest and poorest, unsustainable house price increases, the significant damage to the environment, personal debt levels rising to unsustainable levels that young people will struggle to ever get out from under, big business wielding so much power within the political sphere etc... the list is huge.

It seems to be that responses aimed at me are explanations of the current system, I ama aware of how business works, I just don't agree that it actually works well at all.

We are told we live in a capitalist, free market.
If I borrow more than I can afford, run up huge debts in risky business practices and default on my loans, I end up bankrupt and in court.
The banks do it and they are given a bailout. A socialist practice.

If I create money from nowhere, I am done for fraud.
If an accountant does it, he is cooking the books.
But banks are legally allowed to do this on a daily basis.
But because its legal, it must be fair.

I just don't believe that the rules in place have been put there for the benefit of the society politicians are there to represent. They are created under influence from big business that have too much to lose. How can the common man compete against the very deep pockets of a global business that makes billions in profits? They can't.
 
londonlewis said:
...
I just don't believe that the rules in place have been put there for the benefit of the society politicians are there to represent. They are created under influence from big business that have too much to lose. How can the common man compete against the very deep pockets of a global business that makes billions in profits? They can't.
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Whether or not big business (or any other pressure group!!) has too much (or too little) influence over rules/laws simply determines the way you use your vote on the occasional opportunities where you personally have a bit of influence! Either that or go join a different 'pressure group' and convince others to 'join the revolution' (of whatever colour) and change the system!

But the error/opinion ridden drivel of the post I've quoted doesn't help your case!
 
londonlewis said:
If I borrow more than I can afford, run up huge debts in risky business practices and default on my loans, I end up bankrupt and in court.
The banks do it and they are given a bailout. A socialist practice.
Click to expand...

Not any more - the rules of bail in have changed that after the crisis. That was a significant regulatory drive as a result of the crisis - avoiding the too big to fail issue, where governments had to bail out banks because the alternative would have been worse for the public and the economy.
 
Foxholer said:
Whether or not big business (or any other pressure group!!) has too much (or too little) influence over rules/laws simply determines the way you use your vote on the occasional opportunities where you personally have a bit of influence! Either that or go join a different 'pressure group' and convince others to 'join the revolution' (of whatever colour) and change the system!

But the error/opinion ridden drivel of the post I've quoted doesn't help your case!
Click to expand...

Thanks for sharing foxholer. Good to know that the main option for everyone globally is a vote in a FPTP general election or to join a pressure group.

Thanks for ignoring all the questions about whether the system is broken or not. Really constructive.
 
SteveJay said:
Not any more - the rules of bail in have changed that after the crisis. That was a significant regulatory drive as a result of the crisis - avoiding the too big to fail issue, where governments had to bail out banks because the alternative would have been worse for the public and the economy.
Click to expand...

How are the banks no longer 'too big to fail'?
I don't think there have actually been any real changes. What happens next time there is a global financial crisis? (It's inevitable there will be another one, question is only when)
 
londonlewis said:
Thanks for sharing foxholer. Good to know that the main option for everyone globally is a vote in a FPTP general election or to join a pressure group.

Thanks for ignoring all the questions about whether the system is broken or not. Really constructive.
Click to expand...

More errors/opinion! But, at least in the democratic society we are in, you are at least allowed to have and express one!
 
londonlewis said:
How are the banks no longer 'too big to fail'?
I don't think there have actually been any real changes. What happens next time there is a global financial crisis? (It's inevitable there will be another one, question is only when)
Click to expand...

Errr...where do I start, you obviously don't know the details. Things have changed massively - increased capital requirements, regulatory regimes that require thousands of staff across the industry to ensure/demonstrate compliance, bail in rules, ring fencing, centralised clearing etc. etc. but I won't waste my time going on.
 
londonlewis said:
I am impressed with your credentials. Do you not see any inequalities in the current economic structure? Do you feel that it gives everyone a fair go at making it? And I'm not just talking about local or regional but also global?
How long do you think the current ways of working (politically, economically) will be suitable?

Current systems can't be considered acceptable surely? (And stop calling me Shirley), given the constant rising gulf between richest and poorest, unsustainable house price increases, the significant damage to the environment, personal debt levels rising to unsustainable levels that young people will struggle to ever get out from under, big business wielding so much power within the political sphere etc... the list is huge.

It seems to be that responses aimed at me are explanations of the current system, I ama aware of how business works, I just don't agree that it actually works well at all.

We are told we live in a capitalist, free market.
If I borrow more than I can afford, run up huge debts in risky business practices and default on my loans, I end up bankrupt and in court.
The banks do it and they are given a bailout. A socialist practice.

If I create money from nowhere, I am done for fraud.
If an accountant does it, he is cooking the books.
But banks are legally allowed to do this on a daily basis.
But because its legal, it must be fair.

I just don't believe that the rules in place have been put there for the benefit of the society politicians are there to represent. They are created under influence from big business that have too much to lose. How can the common man compete against the very deep pockets of a global business that makes billions in profits? They can't.
Click to expand...
Well! That's a rather big subject to give a detailed reply to. By the way, I never called you Shirley?

I guess you have to consider if there is a better way for macro economics to develop. The two big systems currently are one where market forces create the pull factor and one where the state creates a push factor. OK, there are variations on the themes where certain sectors are state controlled and others market driven and this is the one we have evolved in the UK but in more recent times we have released many industries like Transport, Airospace, Steel, Utilities etc back into the private sector. As you suggest there are also international influences on the way economies are regulated and the one we are currently a member of (The EU) create a great deal of regulation on the way organisations carry out their business. Many of the major economies do in fact have quite a high level of control and regulation over the way businesses operate. What is important though is that business has a motivation to exist and flourish as without them how would we create the wealth we all rely on for our standard of living. There is no such thing as a free meal.

You have mentioned a number of issues in your post and I apologise for not having the time to reply to all of them at the moment. I will make some more comment when I can.
 
SteveJay said:
Errr...where do I start, you obviously don't know the details. Things have changed massively - increased capital requirements, regulatory regimes that require thousands of staff across the industry to ensure/demonstrate compliance, bail in rules, ring fencing, centralised clearing etc. etc. but I won't waste my time going on.
Click to expand...

sounds like you have a lot of faith in this. I'm sure no one has learnt their lesson from the 2007 financial crisis. The next one will be significantly worse.
 
SocketRocket said:
Well! That's a rather big subject to give a detailed reply to. By the way, I never called you Shirley?

I guess you have to consider if there is a better way for macro economics to develop. The two big systems currently are one where market forces create the pull factor and one where the state creates a push factor. OK, there are variations on the themes where certain sectors are state controlled and others market driven and this is the one we have evolved in the UK but in more recent times we have released many industries like Transport, Airospace, Steel, Utilities etc back into the private sector. As you suggest there are also international influences on the way economies are regulated and the one we are currently a member of (The EU) create a great deal of regulation on the way organisations carry out their business. Many of the major economies do in fact have quite a high level of control and regulation over the way businesses operate. What is important though is that business has a motivation to exist and flourish as without them how would we create the wealth we all rely on for our standard of living. There is no such thing as a free meal.

You have mentioned a number of issues in your post and I apologise for not having the time to reply to all of them at the moment. I will make some more comment when I can.
Click to expand...

It was a Leslie Nielson airplane reference!
 
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