see url: http://www.bbc.co.uk/news/uk-40763577
Dear Colleagues,
One would think...with all the expertise in the Universities of the
United Kingdom, in particular the academics, the professors, the Ph.ds
and those others who specialise in teaching economics, accountancy and
book-keeping, and set such a tremendous and exemplary example to our up
and coming young students; and for which they receive a tremendous
amount of government subsidies in various forms, to pay their fat wages,
that they would be able to put together a team of proficient and
competent people who could turn their pension scheme around by wisely
investing on the Stock Exchange, or making profitable investments
elsewhere...but no, they might be able to teach the subject, but when it
comes to practising it, it appears that they tend to get a bit lost.
Now, if they can arrange a nice public subsidy, or not so public
subsidy, from the government, that really is a clever way to solve the
problem, but where does it leave the confidence of tomorrow's students,
when they go into business?
Ah! Well! Another true story turned into a myth, about the intelligence
and cleverness which is like a tsunami in our society. Once again to
the charge dear friends, undo your swords, spur your horses, put your
hands in your pockets and throw money at 'em. We can't have them going
hungry in their old age. I wonder if we could get rid of their tenure,
and make them work an extra five years after they retire to help with
funding their younger colleagues pension funds, other than creative
accounting. Na! Perish the thought...:-). Charitable, educational and
philanthropic trusts don't do such things any more, they can't keep up,
else their books won't balance, and they don't really want to get their
hands dirty by applying those theories out on the economy.
It's all this subsidising of the economy wot's gone on. Now that we
have bailed out the bankers and financiers, with quantitative easing, we
can't afford to bail out the academics. I did say at the time that it
would have been better to put the money into the hands of the people,
small businesses, areas in need of regeneration, rather than in the
hands of the experts in sub prime mortgages. Still, there you
are....:-). Capitalism, like Guinness, is good for you...austerity makes
you thin, and lean and fit to run the country better...doesn't it?
Pigs might fly...:-)
ATB
Dougie..
