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?
On an informal mission to read one book a week as long as the eyes allow for such ambition. Fiction or non is not important as long as it entertains and /or educates. To that end the past few weeks have brought a bounty in the form of some wonderful and then not so engaging literature. Among the notables are - Non fiction category: 1. Good arguments by Bo Seo (how to handle a dispute or debate the most efficient way possible) 2. Genesis by Eric Schmidt (and former US Secy of State Henry Kissinger, who recently passed) - how AI might affect our lives as we know it 3. One in a billion - Zarna Garg (an autobiographical look at an Indian born American woman with a bindi narrated in a standup format - yes it is at times cliched but still funny) Fiction: 1. Personal by Lee Child (a vigilante story with Jack Reacher the giant, nomad protagonist of Child's novels goes hunting for a sniper) 2. Ramayana unraveled by Ami Ganatra (she might disagree about it being a work of fiction but oh wel...
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