Its that time of the year again when Wall Street companies will get flogged and raked over the coals for the bonuses they are paying to their highly specialized employees. Tis the season for the growing sect of angry populists to stand up and be counted.
The angry people will ask questions like: Why is the company paying that size bonus? They ask the question already knowing the answer because they’ve lived in a capitalist society their entire lives. They also know that the person working at McDonalds doesn’t deserve to make $9 an hour either.
The real question is does anyone deserve what he/she makes? If those same angry people went to an impoverished country and told a poor man that they make 90K for picking up trash those poor peasant would think that 90K for picking up trash is outlandish, and they would offer to do it for pennies on the dollar.
Our economy is based on supply and demand.
When you get a Christmas bonus based only on that fact that a child was born in a manger; is that fair? Do you deserve it?
Then the angry people will say; are these the same companies that borrowed money from TARP just three years ago? Yes, these companies did need a loan to survive in 2008. Just like we all need loans to buy homes, and cars, and boats, and education. The populist’s act as if borrowing was created only for these Wall Street companies, when in fact borrowing is the life-blood of our economy. The TARP funds are basically set up as a 5- year loan. The interest rate goes up in 2013. Over 60% of the TARP funds have been paid back with interest and I can say with some assurance that 90% will be paid back when the interest rate on the loans increase two summers from now.
Risk has a price.
These specialists have produced great wealth for our country, and as soon as we see a few negative statements in our 401K, we’re ready to lynch the people that are working for our future. Look. The only way you and I can retire and live a good life afterwards is if the money we earn makes more money. Money has to make money while we’re sleeping, while we’re eating, for us to have enough in the late stages of life.
It takes a special person to sit in an office and look at money, and move it around so that multiplies. They can’t see faces when they are doing their business, they can’t think about loss, or anger, or judgment. These people are part mathematician, part lawyer, part soothsayer, part gambler, and part psychopath.
Rare talents must be appreciated.
So before you go off the handle and start bashing the companies for paying the bonuses, and the employees for accepting the money think about it. Do you want to retire? Do you want to live well in your advanced age? If so, get your hands out of these guys’ pockets and let them do what they do!
The angry people will ask questions like: Why is the company paying that size bonus? They ask the question already knowing the answer because they’ve lived in a capitalist society their entire lives. They also know that the person working at McDonalds doesn’t deserve to make $9 an hour either.
The real question is does anyone deserve what he/she makes? If those same angry people went to an impoverished country and told a poor man that they make 90K for picking up trash those poor peasant would think that 90K for picking up trash is outlandish, and they would offer to do it for pennies on the dollar.
Our economy is based on supply and demand.
When you get a Christmas bonus based only on that fact that a child was born in a manger; is that fair? Do you deserve it?
Then the angry people will say; are these the same companies that borrowed money from TARP just three years ago? Yes, these companies did need a loan to survive in 2008. Just like we all need loans to buy homes, and cars, and boats, and education. The populist’s act as if borrowing was created only for these Wall Street companies, when in fact borrowing is the life-blood of our economy. The TARP funds are basically set up as a 5- year loan. The interest rate goes up in 2013. Over 60% of the TARP funds have been paid back with interest and I can say with some assurance that 90% will be paid back when the interest rate on the loans increase two summers from now.
Risk has a price.
These specialists have produced great wealth for our country, and as soon as we see a few negative statements in our 401K, we’re ready to lynch the people that are working for our future. Look. The only way you and I can retire and live a good life afterwards is if the money we earn makes more money. Money has to make money while we’re sleeping, while we’re eating, for us to have enough in the late stages of life.
It takes a special person to sit in an office and look at money, and move it around so that multiplies. They can’t see faces when they are doing their business, they can’t think about loss, or anger, or judgment. These people are part mathematician, part lawyer, part soothsayer, part gambler, and part psychopath.
Rare talents must be appreciated.
So before you go off the handle and start bashing the companies for paying the bonuses, and the employees for accepting the money think about it. Do you want to retire? Do you want to live well in your advanced age? If so, get your hands out of these guys’ pockets and let them do what they do!
