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Financiers & others say UK savers should embrace risk in their investments to get better future returns (& help investment in UK businesses).

But, these well-off investors, advisors & politicians miss-understand the downside risk for those not in as comfortable life positions as themselves.

They might be able to easily weather a loss of savings, but for those with little extra, a loss of slowly accrued savings is devastating - that's why they won' take a higher risk!

Would you?

#investment
#investment
JimmyB (he/him)
I think you are too kind. They don't misunderstand the down side risk of investing for poorer folks. As with the Labour Party and the Tories when xconsidering poverty - they just don't care enough, particularly when there are such gains for them from being ambivalent.

To accept that they misunderstand, we would have to believe that they had engaged with the arguments somehow.

I guarantee they have not. At least those I know in that world embrace ignorance in this space.
Emeritus Prof Christopher May
yes, maybe I was being too kind, but whether due to misunderstanding, or due to wilful ignorance, the problem remains the same - a lack of appreciation of the downside risks that shape poor(er) 'investors' choices

JimmyB (he/him) hat dies geteilt

JimmyB (he/him)
Yes - you are right: I agree that this is the problem. Investing is always a form of gambling...and those in the finance industry insisting that everyone should gamble, won't believe that retail investors who lose should get bailed out. Unlike themselves of course.
JimmyB (he/him)
I've been thinking about this issue a lot. The editor of The Week wrote an editorial a few years back about how, having spent some time recently, hanging out with Tories, he was struck by how they weren't the great evil presented by the left: none of them want to grind poor people's face's into the dirt.

As a piece of obfuscation it was first class. Other than sadists like Jenrick/Streeting, most do not actively wish harm. Hannah Arendt's 'Banality of Evil' is to the point tho
Emeritus Prof Christopher May
yes, exactly; which is one of the reasons I stopped reading the Week some years ago (it closeted Toriysim was becoming clear).

Of course, this is also a verse of the 'good chaps' approach of our political class; they can't be evil they went to the same private school as I did....

JimmyB (he/him) hat dies geteilt

JimmyB (he/him)
Boris absolutely epitomises this for me: that deep, almost DNA sense of entitlement to rule, to never be wrong, to never admit fault, to resist all accountabilitity combined with an instinct for blaming others - thru the media which they universally own - is an unparalleld disaster. Actually: it is paralleled all over the world as I think about it...
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