The never ending Bo-Gilly vs Dombo thread

[RachelB]

[quote="Bo-Gilly"]I well I'm glad that you found this thread interesting Rachel, despite the fact that all three of your previous posts were to ask for the thread to be closed, with the first one saying that you would rather talk about cycling. And I guess that I must have taken your "Yawn" comment meaning that you were bored, obviously you were just sleepy......interested, but sleepy. It's funny how things can be misconstrued over the internet

And yes, I'm a male, Bo is short for Bob which in turn is short for Robert (I'm thinking of shortening further to just Bee - waddya think ?) I am in fact that bloke called Bob which you've ridden with on the Weds rides. And I have to say that I'm looking forward to our next ride together........specially as I now know that you are interesting in chatting about benefit/tax fraud, the Greek crises, bankers, the IMF, etc.

Although it's probably fair to point out that there might be someone on the Weds rides who might find benefit/council tax fraud a bit of a touchy subject for discussion.........we might have to keep our voices down/whisper

BTW I have no idea who 'Dombo' is .........surely that can't be his real name ?

[quote="Bo-Gilly"][quote]Anti-capitalists: take note, have a wash, and get off your @r$e$. The world doesn't owe you a living

[Bo-Gilly]

So Dombo, five days after I have a pop at you, you finally manage to drag something out of the gutter to hit me back with .........priceless !

However apparently unlike you, I actually read the article......or did you think I wouldn't bother ?

Quote :

City of London social worker Joy Hollister said the camp had become “a magnet for very vulnerable people” attracted by free food, tents and clothing.

Yes, this protest is "public" and in a "public place" ...... even you could go along and join it if you wanted to. Although even if you did go along and join it, it would not detract from the fact that the protesters outside St Paul’s Cathedral are not protesting about unemployment, although obviously increased unemployment is one of the symptoms of the global crises caused by bankers. And that plenty of the protesters have jobs, they include a freelance writer, a systems analyst, a caterer, a charity worker, a forces veteran, and so on. They are indeed people who have 'got off their arses', as you so contemptuously suggest they should.........to repeat myself.

Of course if you're still not convince Dombo, then I suggest that you tip off the Cabinet Minister (Business Secretary) who has expressed sympathy for the protesters, after all, he is in fact sympathising with drug addicts and paedophiles :

[url=http://www.bbc.co.uk/news/uk-politics-15710101]Vince Cable expresses sympathy for St Paul's protesters[/url]



[quote]Perhaps bankers should protest against their taxes been used to keep these creatures in the benefits to which they feel entitled.

[Dombo]

[quote="Bo-Gilly"]Do you know Dombo - where you there ?

And were there any other non-doms protesting about how the taxes which they weren't paying are being spent ?

[Amy]

The [url=http://highpaycommission.co.uk/]High Pay Commission[/url] has just published its report - something about high pay being corrosive to the economy with executives pay gone up 4000% while the average wage has only gone up 300% over last 30-40 years (apologies if exact figures wrong - I'm going by memory of what the Metro reported this morning).

And when they say 'average' pay - are they talking of the mean or mode average? Or even the median?

[Tony]

I think it was since 1980. Average wage increased threefold. Senior execs salary up by a factor of 40 over the same period.

Essentially, this is just licensed theft from your's and my pension funds or in some cases from the employees.

[Elliot M]

Good point Amy, and one which isn't made clear in the report. However, the recommendations are based on medians: "...however, the Commission at this stage recommends that the ratio between top and median pay..."

[Dombo]

[quote="Tony"]I think it was since 1980. Average wage increased threefold. Senior execs salary up by a factor of 40 over the same period.

Essentially, this is just licensed theft from your's and my pension funds or in some cases from the employees.

[quote="Dombo"][quote="Tony"]I think it was since 1980. Average wage increased threefold. Senior execs salary up by a factor of 40 over the same period.

Essentially, this is just licensed theft from your's and my pension funds or in some cases from the employees.

[quote="Dombo"][quote="Tony"]I think it was since 1980. Average wage increased threefold. Senior execs salary up by a factor of 40 over the same period.

Essentially, this is just licensed theft from your's and my pension funds or in some cases from the employees.

[Amy]

I have heard (but can't find where it came from) that people are the happiest where there is not such a wide gap between the top and the bottom of society.

And what if they tied the top salaries into the minimum wage (ie can only be a certain times the minimum pay) - bet you'd see the minimum pay go up

[Dombo]

And on that note, a classic line from "Trading Places":

Mortimer Duke: We seem to be paying some of our employees an awful lot of money.
Louis Winthorpe III: [laughs] Can't get around the old minimum wage, Mortimer.

[Bo-Gilly]

[quote]what's with the dragging something out of the gutter bit? Article from the DT? Hardly the gutter press.

[Mike I]

[quote="Amy"]I have heard (but can't find where it came from) that people are the happiest where there is not such a wide gap between the top and the bottom of society.

And what if they tied the top salaries into the minimum wage (ie can only be a certain times the minimum pay) - bet you'd see the minimum pay go up

[Bo-Gilly]

Income inequality does a lot more than just make people miserable. Income inequality makes economies far less stable and much more prone to crashes caused by overproduction and inadequate demand.

[url=http://www.project-syndicate.org/commentary/roubini43/English]The Instability of Inequality[/url]

Quote :

"Firms in advanced economies are now cutting jobs, owing to inadequate final demand, which has led to excess capacity, and to uncertainty about future demand. But cutting jobs weakens final demand further, because it reduces labor income and increases inequality. Because a firm’s labor costs are someone else’s labor income and demand,what is individually rational for one firm is destructive in the aggregate.

The result is that free markets don’t generate enough final demand. In the US, for example, slashing labor costs has sharply reduced the share of labor income in GDP. With credit exhausted, the effects on aggregate demand of decades of redistribution of income and wealth – from labor to capital, from wages to profits, from poor to rich, and from households to corporate firms – have become severe, owing to the lower marginal propensity of firms/capital owners/rich households to spend."

And it is not just remuneration that counts when considering inequality, the "social wage" also plays an important part. It is no coincidence that countries which are at present experiencing severe economic difficulties are also the countries which have lower levels of welfare spending ....... despite the false mantra which we are sold that it's all down to feckless governments overspending on welfare.

As an example Ireland spends, as a percentage of its GDP, half of what Sweden spends (%GDP) on welfare. And yet the Celtic Tiger "economic miracle" is up Sh*t Creek without a paddle, whilst the Swedish economy is powering ahead.

Inequality makes no economic sense.

BTW if anyone doesn't know who Nouriel Roubini is, he is the American economist who predicted in Sept. 2006 the global financial meltdown which was to come, exactly as it happened. For his troubles he was dismissed and nicknamed "Dr Doom", no one laughs at him any more.

[url=http://econocrash2009.wordpress.com/]The man who predicted the global financial meltdown[/url]