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Nov 2022
2:03pm, 18 Nov 2022
18,773 posts
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rf_fozzy
Like a lot of stuck in the muds (see A Sugar for another example), they fail to recognise that the trends in workplaces that were already happening *before* covid have simply accelerated and overtaken their old-fashioned presenteeism managerial views.
But this is the capitalist system that they have embraced - if they fail to adapt and recognize the new ways of working and how and why people are embracing flexible working arrangements, then their businesses will die and they will lose huge amounts of money.
Especially in the highly mobile, fasting moving world of digital infrastructure.
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Nov 2022
2:03pm, 18 Nov 2022
2,071 posts
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paulcook
Inopportune timing to let the vitriol out of the can ready for the next month.
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Nov 2022
2:05pm, 18 Nov 2022
7,506 posts
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Fields
Anyone fancy going to the moon with Musk lol the richest man in the world has a victim complex, apparently it’s to do with his wife leaving him for a trans woman?
I suppose during the journey you could ask him about his families wealth from an apartheid era emerald mine and also why he doesn’t want to support his children.
Billionaires are evil.
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Nov 2022
2:06pm, 18 Nov 2022
18,774 posts
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rf_fozzy
And of course we've seen the same in HE sector where conservative types cannot get their heads around the way the learning and teaching is changing.
The trends towards digital delivery were already there. Covid simply accelerated them.
But that doesn't stop the people educated in the 1970s to think that must always teach like they did in the 1970s (see Gove's education reforms) and that pedagogy doesn't change as we learn more.
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Nov 2022
2:07pm, 18 Nov 2022
1,502 posts
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fuzzyduck79
Elon Musk @elonmusk 9h
And … we just hit another all-time high in Twitter usage lol
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Amazing, but you have destroyed a $44bn business in 3 weeks and many of those logging in (where they are able to since you turned off microservices including 2FA) are just saying goodbye to everyone and leaving their forwarding details. The rest of us are just munching on popcorn watching you burn money at eye watering speed and laughing at today's trending hashtags
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Nov 2022
2:09pm, 18 Nov 2022
18,775 posts
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rf_fozzy
This of course is another reason why leaving the EU was such a moronic idea that only nativists still support.
The modern world is interconnected, mobile, flexible and collaborative. The EU (due to Geography) was crucial to opening up to opportunity.
The opportunities will still come along, but they'll be less advantageous and more stunted as a result.
But ideologues will always see everything as a zero sum game.
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Nov 2022
2:12pm, 18 Nov 2022
7,507 posts
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Fields
⬆️ Shoehorn of the day award for fozzy
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Nov 2022
2:22pm, 18 Nov 2022
13,800 posts
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jda
Looking at the pension purely in monetary terms is a bit misleading. Money can be printed at will. However, given the explicit link to prices, the pension is actually a promise to provide future access to goods and services, that will have to be provided to an increasing pensioner population by a decreasing working population. Printing more money cannot solve this problem even in principle.
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Nov 2022
2:29pm, 18 Nov 2022
18,776 posts
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rf_fozzy
That's why I worry about private pension schemes too JDA.
For them to pay out a pension for a growing ageing population, they either needs greater contributions from the existing working base (which is happening - certainly USS has recently demanded increased contributions) or assets to continue to rise in value to cover their projected outgoings.
Since we know that the working base is decreasing, unless we demand the next generation pay in more and more to pension schemes, we are betting the house on rising asset values (whatever the assets may be).
That does not seem a low-risk strategy to me.
But I'm not an economist, so I may be missing something. Happy for someone to tell me (in lay language please) where I'm misunderstanding.
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Nov 2022
2:35pm, 18 Nov 2022
19,649 posts
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larkim
I am suspicious about how private pension schemes will perform as the ageing population ratio reduces too. We've already seen a number of schemes collapse of course. And any increases to private pensions is likely to drive down current incomes surely?
You might be curious about it, but that's exactly what actuaries and the various bits of pension regulation around at the moment are there to defend against. And why lots of private companies no longer offer DB schemes.
The one I'm most familiar with, the local government pension scheme, has been putting up employer contributions pretty consistently for the last few years. I've worked at places where the per-employee contribution was in the range of 30+% (I've seen 110%!) with the dual impact of low long term gilt rates and improving life expectancy causing the actuaries to re-certify contribution rates at the annual valuations which take account of expecations for the future. They are not blinkered in terms of what might happen in the future, but it is by its nature a game of futorology.
In the main increases to pension contributions tend to come from employers as the first port of call, but clearly yes if contribution rates for employees rise (as they did for many public sector workers in recent history) that does reduce cash income at home.
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Fantasy General Election
Jul 2024