Category: econocaste

economics .. the short version, since the long is wasted on the young

Schizophrenia Or Just Stupid

Posted on Posted in econocaste, on TV

America hates foreigners. We use them as an example of failure.

We stand on the brink of being turned into France, or Canada.

These same americans defend the right of Sovereign funds to invest in our basic vital institutions.

Saudis are convinced American banks are the best place to invest.

Yet wring, rant, shriek about their own government investing in anything, even education. Well of course some things are okay to invest in, say bullets, bludgeons and bombs. “Yes We Can”, for the killing field. “Hell no we won’t go”, for the skilling fields.

This morning paper brings another crap in the soup of state. For weeks, months actually, the commentariat of CNBC-FOX, have made much of the cloud of Obama. The cloud has settled over the heros of Wall Street. like the cloud in Lil Abner that brings gloom without rain. The Republican House uniformly, accompanied by the bulk of their Senate collaborators, have blamed much on the stimulus plan, seemingly prepared to reject everything as heartily as they once accepted Bush as our savior, our everything.

The Dow tumbles yet another day in response to the stimulus plan. The market has rejected Obama’s (whatever) plan.

So the irony of black and white, the stupidity of expectation, the schizophrenia of Wall Street today appears in this form

Bounce on Wall Street because of the Chinese stimulus plan.

Hooray for the Chinese. We need some more of that Ni hao, know how, right now. Perhaps the only success remaining to America will be found through off shoring. Decoupling hell, we clamp onto whichever country we can to save us. After all we can always blame it on them if it doesn’t work.

Where Did It All Go?

Posted on Posted in econocaste, paradox lost

Where does something go when it wasn’t anything but a claim after the claim is withdrawn? Where did the money go? An asset on the books, now erased. Where is the number now that it has been changed? This is like a childhood riddle of mine:

“Where is the light after it is turned off?” did it turn black, or just disappear?

In the case of Madoff or Bear, the result is the same. As the claim at value is viewed clearly, the value is equally empty. Bets are taken, stakes are paid, they never net out. Just like the smoke from a cigarette. Just like the dirt from a hole. Expectation makes the sum seem greater than it ever was, or could ever be. It doesn’t go anywhere, since it never was all there.

Signs On Wall Street

Posted on Posted in econocaste, on TV

The laggards of CNBC are in a panic because the signs on Easy Street have been changed. Dear M&M. Dear Sirs. The signs haven’t changed, just the lighting.

Learn like the auto workers. When the bolts change, the tools change.

But the bolts haven’t changed on wall street. You people are upset because your coffee break has been rescheduled. Too bad you don’t have enough commitment to negotiate a better contract. Too bad you aren’t as flexible as the blue collars you hate to wear.

CNBC, the laggard’s indicator.

CNBC, where braggarts turn to laggards.