Two things strike me on this:
#1 2008? Bush’s fault.
#2 He’s hiring brokers, not workers. Not people who make something. A broker is just a step above a class action lawyer.
Key word: “hiring”
>> He’s hiring brokers, not workers. Not people who make something. A broker is just a step above a class action lawyer.<<
So what is a “worker” to you? A broker facilitates a transaction, connecting 2 parties in a way that is satisfactory for all. It is a both important and useful profession.
Don’t give them that much credit. Financial brokers create nothing. At least class action lawyers create big headaches.
As a COO of a small regional broadband company, we utilize investment bankers to “broker” capital for expansion. Although they do not create a widget at the end of the day, without them we could not grow and expand our business.
My experience with them is they put in long hours to bring capital to the table with their client....
They get us the capital, we provide the expansion and jobs......
Brokers make something: MONEY
And, after they make it, they SPEND it... on stuff that keeps OTHER people employed.
You've completely missed the point of this article. Do you, by any chance, work for our governm.... oops, I mean, 'Federal Family'??
“He’s hiring brokers, not workers. Not people who make something. A broker is just a step above a class action lawyer.”
Your statement makes me think you know nothing about business or the economy. A broker is someone who facilitates economic transactions. If they do their job well they provide helpful information and add value to the economy. A class action lawyer is someone who tries to solicit supposed “victims” and uses them as pawns to extort money from productive members of society.
They are totally different.
Brokers find homes for excess goods.
Wash your mouth out with soap.
By this definition, one would not call a Doctor, Dentist, or auto machanics a "worker" because they don't "make" anything. In fact, they just move around and occasionally poke or prod at people/vehicles with tools.
By that measure, the people who work at the hardware store aren’t “workers”, because they didn’t make the hardware.
I am a client of Peter Schiff’s and the people he employs (no matter what they are called - broker, etc.) are worth every penny.
Really I'm not looking for a fight, but that's just ignorant. The VAST majority of jobs don't directly produce something (even in factories), they just facilitate some minor part of the process (delivery of parts, quality testing, packaging, inventory management, cleaning, tool repair, machine maintenance, forklift driver, utilities, etc.) Being a broker (or any other sales position) is facilitating a transaction that would not otherwise happen for a item that would not get manufactured if some did not buy it.
I’ve read through the thread, and IMO, brokers are part of the financial grease that facilitates movement of money. Do they make something in the traditional sense? Maybe not, but then again, I don’t either when I write software. It is really just a glorified instruction manual. But without it, your computer is pretty useless.
Without brokers much of our financial activity would be severely hampered. I’d argue they make our economy run smoother. But like many things, they are part of a service industry and not manufacturing anything.