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JohnGelles 12/24/2010 02:31 AM Report
shakwell~
Yes -- it was a great interview.
But -- Wolfensohn's main point, that 2 billion people, with incomes shamefully below any standard we might approve, were not going to benefit from humanity's real system of production and distribution and its potential to use automation and robotics to outproduce need, because the financial system is not fixable now or within the foreseeable future.
He may not have said this clearly, but he and Charlie Rose said it indirectly.
Clearly this is the issue that all of ought to address: how to turn technology loose to outproduce all we need for peace as we have produced all we need for Armageddon.
You may say we always had enough Armageddon if we wanted to wring each others necks. But you know what I mean. The resources and systems are available for guaranteed incomes based on output potential that could solve the Wolfensohn worry. Yet he did not suggest we use them.
shackwell 12/24/2010 12:36 AM Report
REmant - i've watched this show for a few weeks and you are so cynical, your comment doesn't relate to the main point of the interview at all - you comment on every interview like this
- i thought it was a great interview
REMant 12/23/2010 09:43 PM Report
I certainly agree with him about the Bowles-Simpson report, education, etc, but I don't think he has known much poverty. Current ratio is not the same as price-earnings ratio, Charles. It is the ratio of a firm's ready cash to bills that need to be paid, in other words, a measure of its ability to pay its bills and/or a dividend. It doesn't otherwise say anything about the desirability of a stock. B-school, anyone?