Current Events > Finance: a complex industry that everyone thinks theyre an expert on

(+) Yeah! (+)

Always reminds me of people who do their own 'research' on vaccines and think they know enough to discredit the experts

Coming from someone who knows the least about finance.

Tc said big banks look out for all of our interests.
He said this in response to an article saying worker pay raises will destroy the economy.

EmbraceOfDeath posted...

Coming from someone who knows the least about finance.

Well, no, thats not true.

Even if it were, my point would still stand

https://gamefaqs.gamespot.com/a/user_image/8/0/2/AAUFZqAAC4Ry.png Interesting.

WingsOfGood posted...

Tc said big banks look out for all of our interests.

@RchHomieQuanChi this is what a bad faith post looks like in case you were wondering, Wings knows there was specific context.

Also, doesnt contradict my point.

UnholyMudcrab posted...

https://gamefaqs.gamespot.com/a/user_image/8/0/2/AAUFZqAAC4Ry.png Interesting.

Hmm interesting tag, care to actually address the content of my posts or nah

g980 posted...

@RchHomieQuanChi this is what a bad faith post looks like in case you were wondering, Wings knows there was specific context.

Also, doesnt contradict my point.

Wrong. You said that. Do you take it back?
If you take it back saying you were wrong I won't bring it up again.

Do you?

WingsOfGood posted...

Wrong. You said that. Do you take it back?
If you take it back saying you were wrong I won't bring it up again.

Do you?

I said they were interested in fighting excessive inflation, which is in everyone's best interests

g980 posted...

Hmm interesting tag, care to actually address the content of my posts or nah

If I made up you saying banks were for our interests and good, why does other users tag you the same?
It appears the bad faith post was yours trying to weasel out of your own stupid opinion.

Or openly recant it.

WingsOfGood posted...

If I made up you saying banks were for our interests and good, why does other users tag you the same?
It appears the bad faith post was yours trying to weasel out of your own stupid opinion.

Or openly recant it.

Sounds more to me like he's saying "they have a vested interest in something that would also be good for average people" than "they have people's best interests in mind".

g980 posted...

Hmm interesting tag, care to actually address the content of my posts or nah

didn't you bail on the last finance topic? there's no content in this thread, just you making vague accusations

g980 posted...

I said they were interested in fighting excessive inflation, which is in everyone's best interests

Not what you said.
Article was about j.p. morgan upset they had to pay employees more money.

So even if this is all you said, it is a stupid ignorant take.

Trumble posted...

Sounds more to me like he's saying "they have a vested interest in something that would also be good for average people" than "they have people's best interests in mind".

Oh wow, you are his alt aren't you?

i specifically provided data sets from the fed tracking the inflation rate increase of goods vs worker costs that demonstrated that the driver was actually the reverse of what you were claiming, and you vanished into the ether

g980 posted...

I said they were interested in fighting excessive inflation, which is in everyone's best interests

the only bank capable of fighting inflation is the fed

WingsOfGood posted...

Oh wow, you are his alt aren't you?

No, I'm not. I'm just someone who, y'kno, can actually read.

Fighting inflation fyi was telling companies to stop giving people raises.

This is what tc considered banks being on your side.

WingsOfGood posted...

Fighting inflation fyi was telling companies to stop giving people raises.

This is what tc considered banks being on your side.

specifically he was making the (demonstrated false) claim that the cost of domestic labor was driving the cost of goods

setting aside the fact that there's minimal connection between most domestic labor and most goods in a global economy, the correlation actually was the other way: goods prices were rising before labor prices were

Sackgurl posted...

i specifically provided data sets from the fed tracking the inflation rate increase of goods vs worker costs that demonstrated that the driver was actually the reverse of what you were claiming, and you vanished into the ether

I didnt disagree with your point

But disagreeing with the economist's conclusion about wage's impact isnt relevant to whether or not they are taking an anti-inflationary stance

They can be incompetent but still be on the same side wrt inflation

WingsOfGood posted...

Not what you said.
Article was about j.p. morgan upset they had to pay employees more money.

So even if this is all you said, it is a stupid ignorant take.

It really wasnt

Sackgurl posted...

didn't you bail on the last finance topic? there's no content in this thread, just you making vague accusations

I fell behind by a page or two and didnt feel like catching up. It was all just the usual ad hominem tho

Tbh you are the only one who seems to have a decent grasp of the industry

g980 posted...

I didnt disagree with your point

But disagreeing with the economist's conclusion about wage's impact isnt relevant to whether or not they are taking an anti-inflationary stance

the post was not about what his stance was, it was about what we should be doing

also there's really not much of a "pro-inflationary stance" held by anyone when YOY rates are at 7%+

g980 posted...

I fell behind by a page or two and didnt feel like catching up. It was all just the usual ad hominem tho

Tbh you are the only one who seems to have a decent grasp of the industry

in context of this, this topic is not a good look

Sackgurl posted...

also there's really not much of a "pro-inflationary stance" held by anyone when YOY rates are at 7%+

Yea which is why my statement shouldnt be controversial

not controversial: "inflation is bad!"

controversial, but true: "the market forces that drive wages higher are also creating inflation"

controversial, but bullshit: "anytime wages rise, inflation also rises to match it in equal measure"