S&P 500 cash weekly competition for 2016 with PRIZES!

[Pat494]

I was out by a mere 87 points. :whistling

Don't worry about it bud - could be out more next week ? lol

 

[mike.]

They bounce back after terrorist attacks, pick themselves up after earthquakes and cope with pandemics such as Zika. They can even handle years of economic uncertainty, stagnant wages and sky-high unemployment. But no developed nation today could possibly tolerate another wholesale banking crisis and proper, blood and guts recession.

We are too fragile, fiscally as well as psychologically. Our economies, cultures and polities are still paying a heavy price for the Great Recession; another collapse, especially were it to be accompanied by a fresh banking bailout by the taxpayer, would trigger a cataclysmic, uncontrollable backlash.

The public, whose faith in elites and the private sector was rattled after 2007-09, would simply not wear it. Its anger would be so explosive, so-all encompassing that it would threaten the very survival of free trade, of globalisation and of the market-based economy. There would be calls for wage and price controls, punitive, ultra-progressive taxes, a war on the City and arbitrary jail sentences.

For fear of allowing extremist or populist parties through the door, mainstream politicians would end up adopting much of this agenda, with devastating implications for our long-term prosperity. Central banks, in desperation, would embrace the purest form of money-printing: they would start giving consumers actual cash to spend, temporarily turbo-charging demand while destroying any remaining respect for the idea that money needs to be earned.

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Could be just journalist's ramping up the fear ?

Its a conspiracy Pat, simply to stop me from winning this competition, The Banks and hedge funds are in it together...when i predict a rise in the s&p drops like a brick and vice versa..thought it was just a coincidence at first...im onto them now though...

 

[Pat494]

Its a conspiracy Pat, simply to stop me from winning this competition, The Banks and hedge funds are in it together...when i predict a rise in the s&p drops like a brick and vice versa..thought it was just a coincidence at first...im onto them now though...

Like Al Capone said " it's the best racket going. " And he should know.

 

[Atilla]

They bounce back after terrorist attacks, pick themselves up after earthquakes and cope with pandemics such as Zika. They can even handle years of economic uncertainty, stagnant wages and sky-high unemployment. But no developed nation today could possibly tolerate another wholesale banking crisis and proper, blood and guts recession.

We are too fragile, fiscally as well as psychologically. Our economies, cultures and polities are still paying a heavy price for the Great Recession; another collapse, especially were it to be accompanied by a fresh banking bailout by the taxpayer, would trigger a cataclysmic, uncontrollable backlash.

The public, whose faith in elites and the private sector was rattled after 2007-09, would simply not wear it. Its anger would be so explosive, so-all encompassing that it would threaten the very survival of free trade, of globalisation and of the market-based economy. There would be calls for wage and price controls, punitive, ultra-progressive taxes, a war on the City and arbitrary jail sentences.

For fear of allowing extremist or populist parties through the door, mainstream politicians would end up adopting much of this agenda, with devastating implications for our long-term prosperity. Central banks, in desperation, would embrace the purest form of money-printing: they would start giving consumers actual cash to spend, temporarily turbo-charging demand while destroying any remaining respect for the idea that money needs to be earned.

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Could be just journalist's ramping up the fear ?

Bit like Churchill, Corbyn could be just the prescribed medication to sort out the bankers.

I heard yesterday Fred the Shred is on a pension of £300K + per year for destroying RBS and handing over £50bn as part of a worthless take over courtesy of every UK tax payer.

Whilst Bob Diamond of Barclays walks away with £200+ m having built a worthless Investment banking division by paying £billions which now Barclays are now paying £billions again to 35,000 global staff in redundancies.

Does anybody know the meaning of a bonus?

 

[Pat494]

Bit like Churchill, Corbyn could be just the prescribed medication to sort out the bankers.

I heard yesterday Fred the Shred is on a pension of £300K + per year for destroying RBS and handing over £50bn as part of a worthless take over courtesy of every UK tax payer.

Whilst Bob Diamond of Barclays walks away with £200+ m having built a worthless Investment banking division by paying £billions which now Barclays are now paying £billions again to 35,000 global staff in redundancies.

Does anybody know the meaning of a bonus?

You are right the present system leaves a lot to be desired. The Big Hogs at the top walk away with the millions and the average guy on the £7 an hour living wage gets screwed.

The capitalists dig their own graves with their greed. Fuel for Corbyn's rant methinks as the electorate swing from one extreme to the other in their panic. While moderate middle policies are not perfect but not as bad as the extremes methinks.

 

[mike.]

Does anybody know the meaning of a bonus?

Some of these young lads in the banks start their day at 5am and never leave their desk all day, they put a tremendous amount of effort into their trading, so in their case yes, I do believe they earn their bonuses which is also a main part of their income.

As for the top brass, (As much as we resent them) well, their the big decision and deal makers, Maybe they earn it maybe not, we will never know..Whats a few million bonus when you have just made the bank X amount billion.

 

[Pat494]

Just because their buddies on the board appoint them CEOs etc. doesn't mean they are in the least well qualified as evidenced by idiots nearly breaking The COOP, Tescos, RBS, Lloyds, HSBC, etc. Faceless, nameless clots sit on boards ( members of the same golf club ? ) and get away with incompetence for a while. The shareholders won't suss it until too late and the dastardly deeds are done. More whistle blowers are maybe needed. But would they just be put up dummies by big business tycoons like Trump manipulating share prices.
Capitalism has taken over and so people suffer.

A Corbyn wealth tax of anybody worth over £xxxx ? Before they own most of the country, not just The Highland Estates, West London etc. Many are super rich Russians, Arabs etc. who contribute next to nothing in tax or employment etc.

 

[Pat494]

Dipstick & company smirking on the front benches says it all imho.

They pretend the enemy is in The Middle East with pop guns.

Maybe the farce of a Parliamentary Democratic system has run it's course and is in danger of being replaced ?

Well that's my Weekend rant over ............

 

[mike.]

Its a messed up world Pat, All driven by money.

 

[Atilla]

Some of these young lads in the banks start their day at 5am and never leave their desk all day, they put a tremendous amount of effort into their trading, so in their case yes, I do believe they earn their bonuses which is also a main part of their income.

As for the top brass, (As much as we resent them) well, their the big decision and deal makers, Maybe they earn it maybe not, we will never know..Whats a few million bonus when you have just made the bank X amount billion.

Not against bonuses and I concur with your sentiments yes having worked and experienced bonus culture in investment banking.

However, if any banker loses money and screws up big time there should be some reflection and redress. Especially for the fat cats at the top.

Also, bonuses should be based on profits and performance appraisal. Not written into contracts.

Another issue is they are aggressive. More you earn greater the bonus. Guy on 25K gets 3% bonus and the big cheese on £3m gets 33% bonus. Not kidding here these are real numbers.

When it comes to taxation it's all regressive. Richer you are less you pay with all the off-shore and non-domiciled loop holes.

System needs balance.

 

[mike.]

Totally agree,
Think i read in one book that a top trader who was making a killing on the CDO's netted himself 40-50 mil bonus. One then has to find a tax lawyer to employ some dodgy means of evading the tax man and deposit it off-shore, Belize appears to be the place of choice according to the bbc program the other night.

 

[Pat494]

1888 pls

 

[NickBk]

It seems rather obvious that a guy who can command a basic of £3m is eminently harder to replace than the guy on £25k. So the bonus would seem commercially correct in the instance given.

If the guy on £25k can't negotiate himself a better deal for the next year he should be fired not pitied for his 3% bonus.

 

[Atilla]

It seems rather obvious that a guy who can command a basic of £3m is eminently harder to replace than the guy on £25k. So the bonus would seem commercially correct in the instance given.

If the guy on £25k can't negotiate himself a better deal for the next year he should be fired not pitied for his 3% bonus.

If the perfectly competitive market was working correctly as intended without any restrictive practices behind closed doors on numerations I'd agree with you.

Do you know how fat cats salaries are determined and by whom?

http://www.som.cranfield.ac.uk/som/...agementFocus-Issue37-FatCatPay-FINAL-4Web.pdf


I don't know perhaps you are right!

 

[NickBk]

If the perfectly competitive market was working correctly as intended without any restrictive practices behind closed doors on numerations I'd agree with you.

Do you know how fat cats salaries are determined and by whom?

http://www.som.cranfield.ac.uk/som/...agementFocus-Issue37-FatCatPay-FINAL-4Web.pdf


I don't know perhaps you are right!

I am not inclined to be led by an article titled 'fat cat salaries'.

Not sure how you measure people on 120 times greater basic salary with an obviously inferior and not remotely comparable worker.

No wish to be antagonistic and just thought the basic premise was wrong.

 

[Atilla]

I am not inclined to be led by an article titled 'fat cat salaries'.

Not sure how you measure people on 120 times greater basic salary with an obviously inferior and not remotely comparable worker.

No wish to be antagonistic and just thought the basic premise was wrong.

Article is not supposed to lead but simply question how they are evaluated.

I stated the premise if / when the perfectly competitive market is working correctly as intended without any restrictive practices behind closed doors on numerations I'd agree with you.

Concept of bonus, risk taking and rewarding effort is somewhat skewed imo.

Your premise is based on what exactly? If someone is paid millions then surely they are worth based on what? Lot of evidence in the market that doesn't tally up.

I'm not being anything. Simply stating opinions.

 

[Pat494]

Trump employs " leverage " to get his own way. Sorta Mafia tactics I suppose.
Let's see him water boarded and see how he likes his policy.

 

[NickBk]

Article is not supposed to lead but simply question how they are evaluated.

I stated the premise if / when the perfectly competitive market is working correctly as intended without any restrictive practices behind closed doors on numerations I'd agree with you.

Concept of bonus, risk taking and rewarding effort is somewhat skewed imo.

Your premise is based on what exactly? If someone is paid millions then surely they are worth based on what? Lot of evidence in the market that doesn't tally up.

I'm not being anything. Simply stating opinions.

My view is that market forces, though imperfect, are the best way to go.

There will always be examples of some people who are not worth it. Some footballers on 100k+ a week seem not worth it and by comparison others well worth it.

Unless you know what the guy on 3m brought to the bottom line it is futile to make a comparison. I think he brought in more than 120 times the 25k guy.

No markets are completely perfect in any case, was the Dax at 12000 the right price last year or last week at 8700. I guess somewhere in the middle.

As an Arsenal fan who had to watch Niklaus Bendtner, I would say it is not a perfect market and he had a brilliant agent. Do I resent Danny Welbecks salary this last year, No -)))

In general the evidence is that the City of London is well worth it to the UK economy and a few people who get overpaid do not change the overall wealth that is brought in through all these related enterprises.

 

[Atilla]

My view is that market forces, though imperfect, are the best way to go.

There will always be examples of some people who are not worth it. Some footballers on 100k+ a week seem not worth it and by comparison others well worth it.

Unless you know what the guy on 3m brought to the bottom line it is futile to make a comparison. I think he brought in more than 120 times the 25k guy.

No markets are completely perfect in any case, was the Dax at 12000 the right price last year or last week at 8700. I guess somewhere in the middle.

As an Arsenal fan who had to watch Niklaus Bendtner, I would say it is not a perfect market and he had a brilliant agent. Do I resent Danny Welbecks salary this last year, No -)))

In general the evidence is that the City of London is well worth it to the UK economy and a few people who get overpaid do not change the overall wealth that is brought in through all these related enterprises.

Agree with everything you say here Nick.

The optimal place is trying to come up with something that identifies who's worth it and reward goes to those who deliver. That's ideal and something which should be reasonable objective to achieve imo.

So bonus and reward for employee's should be subject to profits and quantifiable returns. Have no objections against that.

BUT when the valuation of a company goes down or worse broke than those golden hand shakes and parachutes should be cut.

 

[Atilla]

1842 for me please...