THE CITY v MANUFACTURING v THE SERVICE INDUSTRY
Mood:
vegas lucky
Topic: CREDIT CRUNCH
So here we are monday morning,over the last few days seventy thousand british tourists are stranded overseas as two travel companys go to the wall. Al Italia announces it cannot gaurantee flights from monday as it's three million dollar a day losses are crippling and the Italian government can't afford it anymore.
Now we have a big financial house filing for bankruptcy and goodness knows who they finance. we wait for developments "who's next" I hear you cry. well I'll put my thoughts forward here and recent events only strengthen my argument for changes.
"A bank of this size, up until now, has not been allowed to fail,"
"It was only last Sunday that mortgage banks Fannie Mae and Freddie Mac were taken under government control."
The former head of the US Federal Reserve, Alan Greenspan, has predicted the failure of more major US financial institutions.
He said the crisis on Wall Street was the worst he had seen in his career and the chances of escaping a recession "less than 50%".(a typical statement from a CITY BOY) he probably was wearing his stupid multi coloured braces that hold his 46inch waist trousers up on when he made this comment.
So anyhow my opinion which most "educated suits" will no doubt dismiss is this,first of all we have created a generation of university educated " flat assed lazy nerds" The only job these guys can do is aimlessly pretend to know the markets and gamble on them or come up with some other fancy philosophy of get rich quick . I don't trust "City boy suits" lets take for example Nick leeson..or for that matter the Endowment and pensions scandal in the UK during the 80's and 90's.? yeah as we can see "money is their god"
We have deconstructed if you like decommissioned the Manufacturing industry thereby losing all our skills as tradesmen and engineers built up over centuries from the Industrial Revoloution,all at the bequest of THE CITY who with their smart wizz kid attitudes demanded we take our manufacture oversea to cheap labour. " you pay peanuts ,you get monkeys" lets face it Chinese and Asian products are at least " second rate"
Were am I coming from I hear you ask? well now we basically have 2 industries in ;well most of modern europe. We have the CITY and we have the Service Industry....one totally at the mercy of the other,wholly dependant on its finance and totally dependant on "FAT CATS" ,the service industry who rely on hotels,restaurants ,building homes for an over priced market created by the "get rich quick" mentality of the young professional who buys a home for profit not as a "Home to live in" so you have young couples who cannot even buy a house to live in in their village because of "City Driven Factors"
I think we need to change the attitude prevailing in our children that it is indeed an honourable profession to be an Engineer to be a tradesman,infact these professions should be paid more than a Banker,accountant, broker or indeed Solicitor. I go as far as to say that Engineers should be the top profession as they have in Japan or Korea. I am as you can see no fan of Bankers and their associated trades,ok maybe there is a little bit of personal experience in my comments,but I stand by them. the conclusion is:
"CITY BOYS GO HOME AND LEARN HOW TO CHECK YOUR CAR FOR OIL"
Posted by fourthxjuly
at 10:22 AM MEST
Updated: Tuesday, 16 September 2008 1:03 PM MEST
celebratory
