Doom & Gloom?
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Jeremy, that sounds like the best idea so far.
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except it wouldnt work. $1 million isnt enough to last a person 25 years (and quite possibly longer.)
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They could invest it in stocks
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@solo said:
Jeremy, that sounds like the best idea so far.
right, it does.. and i'm sure there are many scenarios like this that would actually help the people and/or 'our' economy.. it just goes to show that the bankers/politicians do not have the people in their best interest..
they're caught up in some sort of game that i know nothing about yet am affected by the outcome or who's winning said game..[and really, it's like the ultimate game of Risk for these people.. real money, real power, affecting real lives... or maybe - even though it's the 'real' world, it's still fake money, fake power, affecting fake lives?]
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@remus said:
except it wouldnt work. $1 million isnt enough to last a person 25 years (and quite possibly longer.)
The majority of state pensioners survive on a lot less than $40k per year (or probably even less than $25k if all recipients lived to 90). By the time you throw in the annual interest earned on a $1m lump sum over 40 years, the fact that many would be very close to paying off their 25 year mortgage anyway and that many would be married (maybe they would receive $1.5m?) I'd reckon as much as it sounds awfully like beer-glass-econonomics most people could actually get by on it.
Certainly couldn't do more harm than say Sir Fred Goodwin, ex boss of the Royal Bank of Scotland resigning from the bank and being rewarded with a +£700k pension per month (+$1m pcm). If anyone is any doubts or unaware of the extent of Sir Fred's skills at running a bank, then the figures speak for themselves: when he accepted the post as CEO around 10 years ago RBOS had a share price of around £4 (400 pence). The day he resigned they were 60-something pence. In the months since it has dropped as low as 10 pence. Happy retirement Fred!
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I'll fess up now: i made a mistake when i worked out the yearly income from the $1 million. it is still a relatively small amount of money compared to what a 50 yr old could be earning in work. And i dont know about you but i'd quite like to not have to scrounge a living for the last 20-30 years of my life.
With regards to fred's pension: definitely not acceptable, but to get the facts straight, its £700k a year. And i wonder how much of that share price drop has been in the last year? i imagine quite a significant proportion.
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RBS stock value 2000-present:
As you can see the value of RBS stock was actually relatively high until April'07, but it still took until April'08 for them to fall to the same level as '00.
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Is that a note of cynicism i detect there
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In any other business Fred Goodwin would be liable for committing a criminal act of fraud. It's a case for Trading Standards, The Royal Bank of Scotland got their customers to invest by marketing false promises that they couldn't deliver. If a small business did that they would be sued by the clients and closed down by Trading Standards.
But Fred works for a bank and he's a "sir", so calling him a thief and a shyster isn't politically correct. The government don't help small business with a few grand of debt, but a bank that's lost a few million is not a problem. We will all be paying for Fred for some time yet.
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@remus said:
With regards to fred's pension: definitely not acceptable, but to get the facts straight, its £700k a year.
Oops, my mistake, got my months mixed up with my years (maybe that where Sir Fred's accounting went wrong too?)... he's struggling by on £58k per month.
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@jackson said:
he's struggling by on £58k per month.
@remus said:
Is that a note of cynicism i detect there
Yep there's something about hearing that he'll be getting more per month for not doing the job which he was not able to do than most people will ever earn in a year (even if they do their jobs very well) that brings out the cynic in me!
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Hi Guys,
I've stayed away from this thread so far, just didn't want to read / hear about more Doom & Gloom.
Now that I read the posts I found it quite positive and realistic in many ways. Even the 'Buy Off' idea, €1M for over 50s.
As we all know only too well the Building Industry has been devastated World wide and this is having a pretty depressing effect all round. However the Building Industry will be needed in the future so anyone that is unemployed should keep their hands in and learn new skills in ready for the day that things pick up again.
I'm wondering if SketchUcation could play a part in generating some employment to expert SketchUp and associated program users by way on On Line Training / Consultancy Work.
I'd like to bounce a few ideas off anyone that now finds they are low on work and willing to investigate the possibility of working through a 'SketchUcation Online Agency' whereby Online Training / Consultations could be booked, paid for and supplied via SketchUcation.
Rather then hog this thread I will start a new topic and see how it goes. Look out for 'SketchUcation Online Services Agency' http://www.sketchucation.com/forums/scf/viewtopic.php?f=179&t=18363&p=149171#p149171
Mike
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