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Friday, March 2, 2012

“How did you not notice 24-year-olds were being paid $2 million a year who clearly didn’t know anything?”

In many cultures, older people are viewed as wise and worthy of respect.  It is viewed that only by living a life full of ever changing events that one can appreciate the present.

No one told that to anyone of us the US.  Youth is vitality and vigor.  Old ways are just that - old and outdated.

They say that history always has a way of repeating itself. Whether it’s the tragedies, the famines, the prosperous times, or the faith of the people in the Bible, we always find that throughout history most of what has happened has already happened again or will happen soon.

But as outlined in Zero Hedge today, having faith and trust in a 24 year old is perhaps naive, but more likely trusting the fox in the hen house.  What could go wrong?

The flip side of that is that younger people are more willing to accept change
and view things differently.

The question then, is how to reconcile the two axioms.

I think most would agree, that "trusting" 24 year olds with economics for the future (when they have lived but 24 years) is putting "change" above "foresight."  There mist be an equilibrium and 24 year olds deciding economic policy just doesn't sound right.

But hey, younger and younger guys are winning the Grand Championship of Poker more and more.  Luck?  Or just more wiling to go all in, damn the consequences?
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2 comments:

  1. AnonymousMarch 2, 2012 at 1:16 PM

    This country needs change. This country needs to be forced to change by those who honestly know how to run a country. This country needs those who know how to run a country to stand together, stand up and force the current government to change. Without those with people showing that they have a pair and taking some risks standing together NOTHING will change. No leadership required, just honest patriots working together to accomplish a single goal. No bickering around. One goal, singular in interest backed by the few million patriots left can be accomplished.

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  2. AnonymousMarch 2, 2012 at 1:18 PM

    less worried about the 24 year olds getting 2 million than the 62 year olds paid 120 million who 'appoint and manage' them!

    Let's hear it for the safety nets of Board of Directors, the Non-Executive Board, the Compliance and Risk Managers, the global Audit/Accountancy Firms, the Regulators and the steaming broke US Govt and its 200 Senate Committees of 'wise old men' ...(cough, splutter, puke)

    How they (all) doing on the 100-900/1 leveraged derivatives (non) issue right now?

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