Pubs replaced banks in Ireland for several months in 1970 (2016)
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Pubs replaced banks in Ireland for several months in 1970 (2016)
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Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#2> [...] almost the entire banking system of Ireland went on strike after an industrial dispute in 1970. The strike lasted nearly six months, yet the economy escaped unscathed.
Getting people to strike isn't trivial, but this is the first time I learn about bankers striking.
Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#3> [...] almost the entire banking system of Ireland went on strike after an industrial dispute in 1970. The strike lasted nearly six months, yet the economy escaped unscathed. Getting people to strike isn't trivial, but this is the first time I learn about bankers striking.
It’s uncommon in the US for reasons. It’s a thing in Europe.
1970 Ireland isn’t exactly an example of a modern or booming economy.
But… what happened there should give pause when financial bros get weepy and pat themselves on the back about their sacred duty to provide liquidity at all costs. (And take a vig)
Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#4> [...] almost the entire banking system of Ireland went on strike after an industrial dispute in 1970. The strike lasted nearly six months, yet the economy escaped unscathed. Getting people to strike isn't trivial, but this is the first time I learn about bankers striking.
A perfect example of my favourite part of any "class warfare" talk. Even for the "capital" class, the system isn't necessarily in their favour. It's only when you're at the absolute peak that you get the benefits. Everyone else is perfectly disposable, society just runs smoother when society believes that 6 figure salaries puts someone on the other side of the fence.
Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#5> [...] almost the entire banking system of Ireland went on strike after an industrial dispute in 1970. The strike lasted nearly six months, yet the economy escaped unscathed. Getting people to strike isn't trivial, but this is the first time I learn about bankers striking.
The banking system in 1970 was much more labor-intensive. This was before ATMs and online banking, or even computers — a small local bank in Ireland probably didn't have an IBM mainframe at that time.
So there were clerks and cashiers at every level pushing paper, crunching numbers, handling cash. These people were clearly working class, not the later Wall Street image conjured by the word "banker".
Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#6Bank underground view
https://bankunderground.co.uk/2016/01/20/the-cheque-republic...
Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#7> [...] almost the entire banking system of Ireland went on strike after an industrial dispute in 1970. The strike lasted nearly six months, yet the economy escaped unscathed. Getting people to strike isn't trivial, but this is the first time I learn about bankers striking.
The banking system in 1970 was much more labor-intensive. This was before ATMs and online banking, or even computers — a small local bank in Ireland probably didn't have an IBM mainframe at that time. So there were clerks and cashiers at every level pushing paper, crunching numbers, handling cash. These people were clearly working class, not the later Wall Street image conjured by the word "banker".
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Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#8> [...] almost the entire banking system of Ireland went on strike after an industrial dispute in 1970. The strike lasted nearly six months, yet the economy escaped unscathed. Getting people to strike isn't trivial, but this is the first time I learn about bankers striking.
A perfect example of my favourite part of any "class warfare" talk. Even for the "capital" class, the system isn't necessarily in their favour. It's only when you're at the absolute peak that you get the benefits. Everyone else is perfectly disposable, society just runs smoother when society believes that 6 figure salaries puts someone on the other side of the fence.
The class divide isn't based around an arbitrary salary, or specific job positions. It's whether you have hire/fire powers and you make money off of other people's labour, rather than selling your own. Hollywood actors and famous football players are often very rich, but they sell their labor to get by. They don't own the means of production
Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#9> "I deal only with my regulars … I refuse strangers."
> ‘They are mostly strangers to us, and we just have to play it by ear in deciding whether to accept a cheque’, said an official.”
Sounds like a recipe for discrimination and inequality, which isn't mentioned in either article.
Re: Pubs replaced banks in Ireland for several months in 1970 (2016)
#10Lots of decisions in the last 50 years have made "the system" more fragile. This makes me realize that outsourcing trust is another one. This would never happen now because businesses have no connection to their customers, either a payment provider or credit bureau does the vouching which becomes meaningless when things don't operate as usual and human judgement is needed