Tuesday, August 26, 2014


For the past few days we have been off visiting with the triplets who are a hell of a lot more interesting than anything going on in the financial world and especially in the world of banking.  While the tree are growing at a rapid pace, gaining knowledge every day and innovating as they more fully understand the environment in which they live, the economies of the world, save for a few exceptions, show no growth, no innovation and remain maddeningly stupid.  Makes one wonder whether one should be a political commentator but there's probably more of those than the politicians about which they write which in the end is probably a good thing.

Actually, I am being probably a bit harsh in throwing the USA in with all the rest for despite every obstacle set up by the administration to growth, we are surviving.  Oh, it's still tough out there and every day there is more and more suspicion as to the believability of most of the economic numbers, but the mood in the Fly-Over Zone is generally OK, buoyed no doubt by the start of the new football season next weekend.  Sport has an enormous influence on the Psyche of this nation, and what is of course unique it is affected not by one sport  but by a multiplicity of sports all of which are internal. Indeed, cricket between India and Pakistan means much more than the result, and The Ashes, Down Under, is the yearly affirmation of the independence of a people.  We have nothing of that sort but if anyone denies that at this time of year there isn't a different bounce in the step of many Americans just isn't very observant.

Anyway, there's not much of a bounce in Europe at all, so little in fact the Mario is considering his own prime the pump, buy, buy, buy bonds, flood the continent with money operation that was soooo successful Over Here to get those economies moving again and boost inflation to scary levels.  Of course, there is some question as to whether he has any authority to do any of that but no matter, like Over Here it will be perceived of as "doing something" Over There and that will buy time for everyone unless the Ukraine thing really spins out of control which is a real possibility Putin being Putin.  Although I think at this stage he has realized that he has bitten off more than he can chew.  The more you see of this guy the more you realize that whilst cunning and vicious, he may not be the sharpest knife in the drawer, but he's sharp enough to cause a real hurt.  He's also probably sharp enough to realize that one bullet changes the entire picture and it would be best not to put to much of a hurt on his pals should the picture go from bright and shiny to lights out.

And speaking of hurt, The Leader took one in the privates today as his chief tax advisor, Warren Buffett, announced that he was about to help finance the merger of Burger King with Tim Horton's, a Canadian firm that will be structured as an inversion.  Who was it that wrote of the Liberal millionaire who fought all his life to have the government take more and more of his wealth and at the time of his death, he had failed miserably.  That's Buffett.  But not to be deterred, The Leader and his Sec Tres. Jacob/Jack babbled all day about the act of inversion on the part of the hamburger guys as being "simply Anti-American."  Inasmuch as Burger King is owned by a Brazilian private equity firm you gotta ask yourself are these guys really that stupid or do they think we are?  Then you have to ask yourself I wonder which is worse?

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