With the large scale global economic turmoil underway for close to five years I am totally confused. Not because it impacts me in a direct way but because I am not sure why people are tolerating public instituional leader salaries that get paid out.
Here are a few examples -
International Monetary Fund - IMF - what does their MD do? Its a French woman who seems nice on camera but what exactly does she do to deserve a $400K annual salary? (TAX FREE).
WORLD BANK - newly elected Korean American that runs this entity also a government elected official. What exactly is the World Bank's role these days? What does he do?
European Central Bank or ECB - this is a new one to me - I am not sure what they have done in the past and what their current charter is but whoever is running it is as clueless on what to do than the jokers that make up the private banks in Europe.
EU head followed by the heads of the large federal institutions incuding the USA. Then come the slew of governing or regulatroy bodies in all the developed world including more acronyms like FINRA, SIPC, NASD, SEC and other alphabet soups.
The truth of the matter is that people have been and continue to be encouraged to spend without showing good collateral or ability to pay their debt back. This in turn leads to growing debts all over the world with nary a clue as to how this actually gets paid.
So why do these bloated entities survive?
It is said that opposites attract meaning people with contrary viewpoint sometimes find chemistry to be together. But I'm referring to a modern twist where people are merely attracted towards a common place because their uber communication device aka smart phone is about to die. The charging station. From airports to hotel lobbies or even bathrooms, when in need they are attracted to this power outlet like moths to a flame or a junkie to a needle. A whole new business of supplying these hyper connected folks is now born whose lifesaver product is a backup charge. Asian tourists perpetually carry a phone sized battery pack stuck to their latest Apple phone updating their status to folks in Hong Kong or Shanghai or Bangalore as they pose for selfies with weird facial expressions and fingers pointed out in a letter V. Vain? PS: I dis'charged' my blogger duties making this insightful observation as my phone is about to breathe it's last and my flight gets call...
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