How Finance Can Be Used For Evil

Рет қаралды 9,982

Күн бұрын

Пікірлер: 40

@MakingMoneyPodcast Ай бұрын

Hello! We’ve put something together for you - a free guide for beginners that shows 80% of what you need to know about personal finance on 2 pages. You can get it here: makingmoney.email/80-guide-video

@harvtheworkload 5 ай бұрын

that is a CRACKING shirt

@DanRobards 5 ай бұрын

I was thinking the same! Hope they do a short sleeved one😂

@MakingMoneyPodcast 5 ай бұрын

I have been searching high and low for one since the conversion.. Damo

@johnristheanswer 5 ай бұрын

@MakingMoneyPodcast "conversion therapy" :)

@DeputyChiefWhip 5 ай бұрын

Personal Finance should be taught in school as a GCSE. Wealth Inequality awareness should be part of it along with Mortgages, Rents, Loans, Pensions, ISA's, stock markets etc...

@toseeornot2see 24 күн бұрын

If you did that in an honest fashion, people would become very conscious of how evil the system is in their teens! I mean with complete honesty where people explain what would happen if you get your first job straight out of university. Or should you decide to take up a trade. If you don't have supportive parents helping you early on, you are well and truly cooked.

@ohyeah2816 5 ай бұрын

The markets aren’t evil. The people are another matter.

@Abdul_Rahman86 5 ай бұрын

Amazing guest!!! Well done Damien!!!!!

@129Jayster 5 ай бұрын

Dr. Phillip Roscoe is the coolest 😎

@aidanclarke7606 5 ай бұрын

That was very informative especially history wise. love all the podcasts but this one was an eye opener. Thank you.

@minimad8793 5 ай бұрын

Very much a worthwhile watch this one guys. I enjoyed the journey through the finance history. Very enlightening. thanks T and Damo

@TheLeonPrior 5 ай бұрын

Nice to see Max and Lewis building bridges and exploring other avenues of work. Good for them.

@sgstuff-q8e 5 ай бұрын

There is a KZbinr, Leeja Miller, who is a US lawyer. There is a very interesting video on her channel called 'The Secret Memo That Ruined Democracy'. it really opened my eyes to how we got to where we are today with regards to finance goals becoming paramount. Where Philip says "this is how finance has always been" (4:29) just shows how effectively these people (discussed in the referenced KZbin video) entrenched and embedded this idea into global society. It is not how it is has always been but they have now made it reaIIy hard to change.

@JoashD 5 ай бұрын

Before I click like, I'm going to need link to where he got the shirt. Old boy looking butter- FLY AF!

@johnristheanswer 5 ай бұрын

"Old boy" , probably 50 , tops. Ha.

@malcolmstonebridge7933 5 ай бұрын

The rivers were shocking previously, e.g. the River Tyne was dead in the 1970s well before privatisation. It's complex, e.g. huge population increase (and utilities will tell you how many people are really in the country), the handy side effect of building Kielder, etc. That is indeed an excellent shirt and that's to be expected because he went to Leeds.

@kr050 5 ай бұрын

Yes. What was it that polluted the rivers before privatisation?

@malcolmstonebridge7933 5 ай бұрын

@@kr050 heavy industry and water boards (public structures) allowing rivers to be used as sewers.

@oxtt4314 5 ай бұрын

The answer is yes. Financialisation is the problem. Read Grace blakley's books. Or Naomi Klein's. If wealth is ever to find it's way back to ordinary society, we need a wholesale economic change.

@JumpDog98 5 ай бұрын

Or the Bearded Santa's numerous publications

@oxtt4314 5 ай бұрын

@@JumpDog98 Santa is bearded. Beards and Santa are ubiquitous. Why call him bearded Santa. Just Santa will do

@kr050 5 ай бұрын

Thomas Piketty, Gary Stevenson too.

@robinhall3404 5 ай бұрын

Very interesting and plenty food for thought.

@FaustsKanaal 5 ай бұрын

Takes some balls to say Thames Water is in a crisis not because of their own CEOs and board, but because indirect stockholders like me who own shares through a bank that owns part of it make any decision at all. Doest that go for all of the UK underinvestment and severely degraded infrastructure like your trains that arent even on par with post Soviet states? Or is that maybe a cope to blame foreigners rather than own up to British inability to manage and innovate.

@dec1875 5 ай бұрын

I'm pretty sure he's blaming the system, not the actual investors. He also says the CEOs and board are incentivised to make profit regardless of consequence. There needs to be the threat of jail for corruption of this level really, but we are the only country stupid enough to sell our own water off to foreign wealth funds who don't care about the damage they do

@ThePirateParrot 5 ай бұрын

If you take away from a discussion of deep systematic issues of corporate governance and the incentives created by the financialisation of public assets is not my fault it's a few bad apples you haven't understood what was said.

@mitchellfarmer5666 5 ай бұрын

This is the wrong take away. What he's saying is the system operates in such a way that it makes investors unwittingly complicit in infrastructural and industrial tragedy. By which I mean, investors want - as individuals - dividends, increasing share price, stock buy back, etc. However from a system perspective this translates to boards (responsible to shareholder interest) appointing CEOs who then make policies that target bottom line not company fundamentals.

@oxtt4314 5 ай бұрын

The other problem is that neoliberal economic theory is just that, theory. It is completely unrecognisable to reality, where the vast majority of people are too poor to be significant economic actors. The market is just a word to these people and they will never be able to participate.

@TheDarkInstall 5 ай бұрын

Just because a person can not afford something, does not mean that the thing doesn't exist.

@oxtt4314 5 ай бұрын

@@TheDarkInstall that's not the thrust of my argument at all.

@TheDarkInstall 5 ай бұрын

@@oxtt4314 what is the thrust of your argument?

@oxtt4314 5 ай бұрын

@@TheDarkInstall that in order for neo liberalism to work as intended, wealth needs to be much more equitably distributed. But it isn't and for most people neo liberalism is just a prison of poverty and exploitation. The only period in human history when worker's got a fairer share of the pie was during the post world war 2 consensus, under Keynesianism. Basically, unions need more power again and taxation on the super rich needs to be much higher along with expectations that for society to function properly, the private sector should contribute much more to paying for workers to get the skills they need to thrive in an economy.

@TheDarkInstall 5 ай бұрын

@@oxtt4314 Thanks for taking the time to explain. I understand your point now. About the last point; you are saying that the private sector should pay to educate their own workers... this does happen already, if the worker is able to bring value to the company off the back of gaining the necessary training / qualifications.