Investment banking does create wealth, just not new types of wealth. Oh wait, it indirectly does that too, shit, fuck jews. :argh:

It won't. In order to get taxpayers to sign on to a project of that scope you have to present it as either A. necessary for the long-term survival of the human race, B. an opportunity to expand the resources available to the human pop at large, or C. fuck them chinky-chongs man free tibet

It's not going to happen with tepid lip service to circle jerking nerds.

What's to stop you trading it in for a car the same age as the one you inherited but with a smaller engine? Chances are your insurance would be cheaper too.

Also, citing depreciation as a cost of motoring is retarded. Who buys a car based on the potential future resale value?

Collectors.

Accountants. :(

Every finance exec I've ever met drives a car that's at least 4 years old. Every one of them has commented on the fact that vehicles depreciate a crapload early in their life and that buying new vehicles is the dumbest thing ever.

Could you sustain a country off of investment banking?

I appreciate the necessity of needing people to shuffle around large sums of money nowadays with how expensive things are and how it requires large collectives of people to get some of these things accomplished, but I often feel their value is a bit exaggerated.

I mean, how does trading stock beyond the initial investment in the original company actually generate money for anyone? It seems about as useful to society as buying ten pounds of gold, sitting on it for five years, and then reselling it, to me.

Off the off-topic:

How nice it must be to worry about record high prices for cars, while a lot of people are worrying about record high prices for food :3:

Back to the regularly scheduled off-topic!

Just as the workload of a law firm is carried out by a small number of people. ie; associates trying to make partner. Only a minority of the population are actual useful to keep society moving as usual. If the technocrats become disillusioned or start slacking off then society is fucked regardless of whatever our energy or financial problems are.

You don't want investment bankers responsible for scientific or productive parts of society. They can't handle facts or reality so they'd have nothing to contribute. I bet 60-80% of Wall Street is jacked up on booze, pills, or drugs. The rest occupy their time by crying to or doing the most depraved acts humans can think up with $2000+/hr whores.

Elliot Spitzer spent his life/career cracking down on all that, and look what happened to him in the end.

Gahahaha!!!


Why worry about it now eh? People aren't starving... yet. They're just hoarding. It's what people do in times of out of control inflation. (or hyperinflation) It's one of the only ways people can protect their wealth.


It depreciates the moment you drive it off the car lot. Within 2-3 years it's lost about 50% of it's value. Great investment huh?

Uhhhh I'm not one of those accountants that knows anything like that. I lack ambition among other things.

lolololol

I'm just making the point that investment banking does create wealth by allowing capital to be fluid instead of just sitting in banks or under mattresses.

Yeah, if nobody wants to be a scientist that is a problem. I'm sorry your earnings don't match your self-importance.

It's not so much the earnings don't match self-importance, as I feel many scientists are compensated quite fairly for what they do, it's more of other professions being overpaid for what their role is. I also feel it creates too much of a disincentive for people to become scientists/engineers and, in the long run, that will hurt our economy.

Brady, how does it actually create wealth and not just provide a service for which new wealth can be generated from? A slightly different question; does me paying the mortgage on my house cause the bank to generate wealth?

It doesn't generate wealth, it steals it. You're making the bank profit by paying your mortgage, because you're gonna end up paying far more than they lent you. The principal is the same for investment banks, only it steals from far more people and deposits the returns into the bonus checks of CEOs... then they walk away with all those millions of dollars while the banks struggle to survive, and continue to steal from people through foreclosures.

Yeah I know its all 'legit', but that does not make it right.

Yes. That is exactly how investment banking works Nehmi, you got it right. (hang the jews)

It is distressing, but then these fields do draw different types and as Watts hinted at it's probably best that the sexed up alcoholic frat idiots who join major firms aren't tasked with scientific study. Plus you're ignoring the element of social capital. Investment bankers are widely seen as scum while scientists are placed on a pedestal and engineering often dovetails into many already nerdy pastimes. It's far more socially rewarding than selling your soul constantly handling other people's assets and monitoring the markets with a single fuckup bringing the entire sword of Damocles falling down on your head and JESUS CHRIST WHERE'S THAT FUCKING COKE!?

Teaching is even far less paying work but our education colleges aren't exactly drying up for want of prospective educators.

If it provides a service from which wealth can be generated from then investment banking is generating wealth. I mean it is not producing widgets or springing new industries to life from theory but it still produces wealth the same way any other service does.

Your relationship is also flawed. Paying your mortgage doesn't create wealth, but the loan that the bank gave you beforehand enabled you to build that house in the first place and your mortgage payments are the incentive for the bank to have loaned you money to begin with. Without those kind of loans properties could only be developed by people with the raw cash reserves to purchase land outright from the Crown because the King had the good sense to run those damn jews out of town a long time ago.

Whoops, I didn't meant for it to be taken as a relationship.

I suppose my point is that I feel the importance of these people that do the money-shuffling is exaggerated as they're providing a simple service so that actual wealth can be generated. So why does this service seem to be valued more by the marketplace than the actual people generating the wealth? (Perhaps it's the same reason when Congress asks itself if it deserves a pay raise, the answer is seldom "No.")

They get paid a lot because they help people make a lot of money that would have otherwise required a large amount of time and research. It's also a risky, stressful venture.

Take solace in the fact that society values you far more than the marketplace could value an investment banker.

RR could melt his hands off. That's a risky, stressful venture also.