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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Two things:

(1) A large part of q3 profits were driven by consumer spending, which we want (insert all the necessary qualifications here)

(2) It's misleading to say that "banks made money". Banks don't make money, shareholders make money. Owners make money. Stakeholders are typically beneficiaries.

It's certainly awful that people are out of work. But that's always the case to some degree. And so in this situation I'd ask: what's the alternative you're suggesting? Or are you just griping because you read some economic headline?[/quote]

I think OP means that bankers make too much money for what they do, considering they mostly cater to themselves, rich clients, and don't particularly care about poor clients. It's the standard inequalities gripe. Which I can understand. Economic inequality is pretty dire in modern societies that built democracies purposefully to try and bring prosperity and decision-making to all.

[/quote]

The idea that they cater to the rich is true but wrong.  IB revenue is driven by deals for companies that provide jobs.  There would be a lot less jobs without our banking system because otherwise raising capital would not work.  Not capital no jobs.  Maybe they make too much money but they make what they can, the same as anyone else.

As to the more general point, we are in a deal boom time right now.  Of course they are busy.  The economy is moving along fine right now.  Slower, slightly but just slightly less jobs.  It is a bit uneven at the moment.  But contrary to the views I see on DCUM things are not dire.  They could turn that way but they are not that bad right now.  Unemployment is quite low -- that does not help someone out of work but as a general matter the job market is not shedding lots of jobs -- it is just not hot like it was.  [/quote]

Unemployment is not "quite low" and it is rising fast. Do you not know how economics work?

There will not be "slightly less jobs" Project 2025 says so!

There will be no jobs, no benefits, no overtime pay (yes that is correct Trump hates nurses firefighters and the police), no help for injury on the job and pennies on the $ for pay. That is what they wrote down. That is what they are going to do. That is where we are headed.

They wrote it down! And listen when they spew![/quote]

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