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Friday, January 28, 2011

Here Is Something Really Worth Thinking About

Business Week had this small piece this week. Study it and decide how well we are rewarding the people who really make a contribution to the economy.

10 years experience
$80,000 to $100,00

Aerospace engineers
5 to 10 years experience

Cancer researchers
10 years experience
$110,000 to $160,000

Four Star General
34+ years experience

Law firm partner
10 years experience

8 to 17 years experience

Corporate bond trader
10 years experience

Bank oil trader
10 years experience

M&A banker
10 years experience

The financial sector now accounts for 41%!!! of all corporate profits even though they account for less than 10% of employment.

The role that banks are supposed to play is to take excess income (savings) in the economy and redeploy it for useful projects to build the economy.

But what banks actually do now is take your almost free money from the Fed and gamble with it. If they win, they keep the profits. If they lose, you lose.

So what do you think it is likely that The Cowardly Lion will about that gross mis-allocation of resources?

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