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By Tubby Isaacs
Membership Days Posts
#355920
Not bothering to link to the column, prefer this.
ohforheavensake • 15 hours ago

Allister- dear me. You're really going down with the free market ship, aren't you? Because the free market tends to work toward the concentration of wealth and power, the free market creates crony capitalism.

Sorry, but this is just true. You seem to have this idealised image of the market, where we should '...promote competition, tear up barriers to entry, unleash consumer choice, eliminate subsidies and soft loans and make sure that the only way an entrepreneur, a CEO, a banker or an investor can make money is by serving customers, discovering new opportunities or allocating capital more efficiently.' Trouble is, once you've set this up and it's benefitted the first generation of businessmen, those businessmen then tend to congregate, and to form the crony cartels you hate. So, unless you're prepared to redistribute that wealth, it will clog up at the top of the system: which is what it's doing now.
By new puritan
Membership Days Posts
#355921
This is funny.
Business: 1 Politics: 0

MORE than half of the UK public credit British business with leading the country’s return to growth – while just a quarter think the government was responsible.

In a blow to politicians of all parties but especially the coalition, a major new survey released by Edelman today finds that 52 per cent of Brits believe business is responsible for recent improvements in the economy, against a mere 25 per cent who credit the government.

The results also reveal that while trust in business has stayed constant over the past year, confidence in the media and government has slumped even further.
http://www.cityam.com/article/139027938 ... s-recovery" onclick="window.open(this.href);return false;

This might not prove a great deal other than that the government is unpopular (which it is) and that a lot of people don't want to credit it with anything (except stuff they don't approve of). But the 'Business 1 Politics 0' stuff is utterly juvenile. Business and the state are interdependent, like two drunks propping one another up as they stagger home from the pub after a skinful. Why would any genuinely influential City types read this rag when they can read the FT?
By Andy McDandy
Membership Days Membership Days Posts
#355926
I know someone who's a trader for a city firm. Hell of a nice guy. He told me that very little attention is paid (at least at his level) to any papers, save for the sports results, because the information in them is bound to be out of date. Far more important are the analysts' briefings at the beginning of (and throughout) each shift, which supply a summary of events and how they'll likely affect the stock market, along with a few hot picks to track/recommend for the day. He said that people who read City AM just want to give the impression of working in the city.
By new puritan
Membership Days Posts
#362604
I see Allister's taken exception to Ben Judah's recent piece on London in the NYT.

http://www.cityam.com/article/139442987 ... ack-london" onclick="window.open(this.href);return false;

Not much of a 'Fisking' since it does nothing to refute his central argument. He also seems to think that racism has 'vanished' from the political arena, which is complete bollocks.
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