Posted Nov 15, 2013 by Martin Armstrong
The Swiss are known for their frugality. When it comes to executive pay, they are voting on executive pay being limited to 12 times that of the lowest paid employee. This will be a first step in this direction as a matter of law. It reflects the rising tide of socialism as we enter the end of the Private Wave in 2032 with the last two business cycles (8.6) on the horizon.
UBS in Switzerland is even making its employees pay now for coffee. The bank has blown money out every crack it could find so now it is down to making employees pay for coffee. Sometimes you can be just penny-wise and pound-foolish as they say..