Friday, February 27, 2009

Shell Shock, Hero to Bum and other misc. thoughts

In these difficult times we are inundated with opinions, analysis, explanations from experts and heaping helpings of bad news and propaganda. It's tough to achieve firm understanding with so much conflicting information. Especially when one considers the very real aspect of disinformation that swirls about constantly. People like the Soro's and Mr. Rogers of the world may be very smart in their own right, but when it comes to delivering a convincing argument in support of their ambitions, they should farm that out to the PR guru's, because their motives are transparent . Some others, not so much. A good deal of the doom and gloom that is reported everyday needs to be taken with a huge dose of salt, as it is just as easily manipulation of investment buying and selling trends as it is sound and concerned efforts to inform. As my own personal level of shell shock has increased regarding the current scenario, I have come to be much more resistant to the gloomers prophecies, and more attuned to what I know, what I have experienced and what I hear in the streets.

Upon browsing Kinsella's site today I saw a video of some Wall St. guy ranting on about the travesties of bailing out dead beat homeowners. The irony of it all. In time many people will become conditioned to the arseholery, and self centred sales pitches, and develop something similar to shell shock. A layer of armor so to speak, that surrounds the senses and automatically tunes out much of the fear and grief and brings a settling into the parameters of a frame of mind that is comfortable for them. That can vary greatly, and I think we are seeing an amount of this already. On one side of the spectrum there are the forces of the weirdosphere squeaking ever louder and gaining legitimacy in some peoples minds. The counterbalance is the objective thinkers. There seems to be a growing firming up of the positions of the two. Which will emerge dominant, I can't say but I know it takes far less effort and ability to let others tell you what to think. Either way, in time the words from the other side become largely irrelevant to the chosen view.

Which brings me to Hero and Bum. I mentioned this in regards to Obama around the time of his election, and am watching this scenario and how it is being worked by various self interests. Like the Wall St. dude mentioned above. Those shell shocked into hearing only his rant without questioning his hypocracy are an ever growing number. The circle the wagons mentality people, who never bother to consider the consequences of their narrow views. The leaders of the Wagon people don't reflect upon the regular people whose money and futures they themselves, and their employers lost in their quests for self satisfaction. Unfortunately these types must be tolerated. These are the collective I refer to as Carpet Baggers. As things progress, we hear more and more from this group as they go about criticizing things such as the program to help homeowners while they stand measuring the porridge in their bowls and crying that it is not enough. Still, they take the porridge anyway. Thoughtful of them. Now we hear them screeching but do we hear real alternatives from them? I haven't. What I have heard is endless simplistic attacks, that appear intended simply to oppose Obama's administration, and cast negativity. Or more to my theme, turn Obama from Hero, to Bum in the minds of the people. Continuous politicking it would seem.

In the words of their fallen shiney face, "There's a time for politics".

If anyone thinks that fixing the monsterous mess that is the American economy is an easy task, then I suggest much more reading. If they think that waving a magic wand over the problems in the meddle east, (that's not a typo) is possible, then I suggest they are too dumb to reason with. The sheer complexity of the many issues that Obama is expected to address effectively is, beyond the level of most people's personal education, experiences and understanding.

I believe the World is the victim of a fraud the scale of which has never been seen before. Dealing with those who are complicit either wittingly or unwittingly is not something that can be accomplished in a matter of mere weeks, nor months for that matter. Undoing the structure that has been put in place to perpetrate this fraud will be an extraordinary battle, which will meet extraordinary resistance, and would require extraordinary determination.

Some monsterous battles will need to be fought, and not on a battlefield spilling the blood of boys, and non combatants but in the halls of Governments. The Regulatory bodies. The battle ground of common sense, and sense of purpose. Stock markets and investment vehicles have outgrown their original purposes, and have to be completely revamped. Companies who produce frankenseeds and prey upon the World's poor must be stopped dead in their tracks. Significant steps have to be taken to deal with intransigent States that depend on foreign aid. Huge Energy conglomorates have to be reined in and made to act as responsible citizens of the World, not merely self interested Corporate entities. Governments, such as our own must focus on setting an example of responsibility, instead of one of expedience.

In order to begin, perhaps someone could start an organization called Greedaholics Anonymous.

Hi, my name is _________, and I am a Greedaholic. I am prepared to embark on a 12 step program to cure my wanton soul.


That said, I have another bit of perspective to add. From an article about Latvia;

"In Latvia, people seem genuinely shocked at how quickly the rug was pulled out from under them and how hard their country is falling. But Vanags says Latvia has been through tough times before and will survive this crisis.

"If you take older generation people who lived through the Soviet Union, through the breakup of the Soviet Union, through the Russian financial crisis, I think they're very fatalistic about it."

For them, he says, "it is just another crisis."

But for younger people, who have never seen this, who have grown up in a market economy in Latvia, I think it is much more of a shock. They thought that wages would go on rising forever. Well, they're not."

http://www.cbc.ca/world/story/2009/02/26/f-rfa-parry.html

Thursday, February 26, 2009

Caught with their mitts in the cookie jar

Red Tory has a story up entitled Fall of the Wall Street Wizards, and it's about 4 investment type folk getting caught doing the naughty. These infractions appear to be in the millions, rather than the billions/trillions, so small fish I suppose, but the story begs some questions. The impression is given that they were caught because people tried to get their money out of the investments the scamsters had set up, and couldn't.

Nothing to do with any regulatory body. They didn't find it. Nooooo..... So, why not? What exactly have those people been doing in recent years? Why didn't we hear from the politico's and those representing the financial conscience? I suggest the very same reasons they are currently ass kissing the money folk.

Then there was that Conrad Black thing. The millions that became $1 million, and a healthy company that made people money, now gone and even the remnants are in tatters. Why is that, one has to ask? So how come these regulatory bodies were so diligent in that case? Oh right, they were sending a message to Corporate America and their derivatives. It took them how long to react to Madoff?

I suspect ole Bern was a master of the game taught by his ancestors. Don't forget the little people. Spread the grease far enough, and things get slippery for everyone.

Comrade Pistoff

Making nice with the Taliban

That's the title of a CBC article that skirts some of the issues surrounding Pakistan's initiative to allow the Taliban to have Sharia law in their northwest region called Swat.

Apparently there is another proposal. The Provincial Government has suggested arming the local population with 30,000 rifles as a way of empowering them. If you had to choose, which idea would you favor?

http://www.cbc.ca/world/story/2009/02/25/f-vp-fatah.html

So.... what have our Government representatives been up to lately?

Here's one item of truly National interest;

http://www.cbc.ca/canada/montreal/story/2009/02/25/plains-debate.html


Then there's this;

"Minister of Veteran Affairs Greg Thompson accused Carolyn Bennett yesterday of making some sort of 'unacceptable' and 'embarassing' gesture toward Helena Guergis, the Minister of State for the Status of Women."

Apparently Ms. Bennett made blonde joke gestures. Imagine.

Were they done yet? Nope.

"The so-called Catgate scandal just won't seem to go away. Conservative MP Lois Brown raised the issue again in the House of Commons yesterday in another feeble attempt by her Party to score a political point or two. She also sided with avowed racist Kathy Shaidle and defended her right to appear on national television."

Catgate refers to Warren Kinsella making some remarks regarding a restaurant in Ottawa. Like who cares?

I have just one word for all this. Clusterf*ck.

Tuesday, February 24, 2009

The Great Recession

Some interesting views from Harvard economic historian, Niall Ferguson. Among other things, he refers to this little spot of troubles as the Great Recession which he indicates may well last for better part of a decade. Besides discussing things like possible civil wars in some less stable countries, he does have some positive things to say. I agree with much of his analysis and thought I would pass it along. I picked it up over at Squirrels r Us.

http://www.theglobeandmail.com/servlet/story/RTGAM.20090223.wferguson0223/BNStory/crashandrecovery/home

Monday, February 23, 2009

Britain's Northern Rock to pay bonuses to managers

"On a conference call with journalists, Gary Hoffman, Northern Rock's chief executive, said that an undisclosed number of senior managers could also receive a deferred bonus payment, even though the bank's losses grew through 2008. It is expected to make another hefty loss this year."

"I don't think all banks are the same, and I don't think that all bankers are the same," said Hoffman, adding that Northern Rock had failed in 2007, although it was not nationalised until early 2008.

"Pay for performance is not a bad thing … I'm pleased that we can reward our frontline staff."

http://www.guardian.co.uk/business/2009/feb/23/banking-northernrock?commentpage=2&commentposted=1


Can you see the man in a Toga, fiddle in hand?

Canwest close to collapse, CBC report


http://www.cbc.ca/canada/manitoba/story/2009/02/20/mb-canwest-bankruptcy.html?ref=rss


"Failing to find investors could lead to the collapse of the Winnipeg-based media empire and cost the Asper family control of the company founded by their late father, Israel Harold (Izzy) Asper, the newspaper states."

Hmmm.... Calamity or investment opportunity? Oh right, it's not election time. That narrows it down some.