Why are bankers' salaries so high? Wrong innovation. Trump tattoos.
In a week when wages' growth slid to an 18-year low, government bonds hit a record low and the Future Fund's Chairman wants his fund's target return (CPI+4.5%) lowered, Wry & Dry turns to something that keeps on getting higher. Bankers' salaries.
Why do bankers earn so much more than anyone else? This seems of greater interest than what is now developing into a modern version of the Hundred Years War* (i.e. the election campaign).
Not Only that, But Also**: Lazy Australian companies; Trump Tattoos; US freight index collapses: upcoming doom? And the wrong type of innovation. Follow The Money reveals a surprising shift in election punters' moods. And, of course, Miscellany, to soothe your troubled mind.
Read on, wryly and dryly.
* The Hundred Years' War lasted 116 years (1337-1453), and was, essentially, between the English and the French. The French eventually kicked the English out of France (they had had effective sovereignty over Gascony (Aquitaine) - of which Bordeaux was the capital - the French wanted it) leaving England with the Pale of Calais. But the French got that too, in 1558.
W&D counter-factual - had the English held on to Gascony, and Bordeaux, perhaps the English reputation for bad food and wine might be different. But, then again, maybe not.
** Not Only But Also was a 1960's BBC comedy series starring the amazing Peter Cook and the amazing Dudley Moore. Bizarrely, in one of the weirdest of all spring cleaning regimes, the BBC wiped most of the tapes of the series. As well as those of Hancock's Half hour; Sykes; Z-Cars and early episodes of Dr Who. Sigh.