Is Doing Nothing the New Vogue?

Friday, December 02, 2011

 

 Geoblography; How I express my individual right to free speech.  

 

What if they gave a garage sale and no one showed?

 What if they gave a European Bond Auction and no one showed?

 

Recently, one of my friends complained of the lack of progress  plaguing the economy, rocking the equity markets, raising  volatility to extremes here-to-fore never seen so high and shaking consumer confidence …all at a time most inopportune …that preceding  the holiday seasons.

Talk about poor timing!

Speaking about which,  does Jon Corzine know something about timing  the market that  no one else does? And in regard to timing savvy, how about Congress which set a date for Corzine’s testimony in Washington for December 8th    …a day before the December  9th European Economic Summit???

All bits of curious timing are they  not?

I wonder who just might be  the bigger inside trader, Congress or Corzine.

Wouldn’t it be a bigger insider trading  scandal if it were ever discovered to be the case that some of Corzine’s heavy-hitter clients included  members of Congress …mutual partners in his crimes?

 Alas,  I digress, for the occurrences of such everyday practices do not depend on …nor turn on one such as a single Jon Corzine, but the crux of the matter is that information is valuable and the power to make one rich from the inside out. Understandable, how one comes by that information and  then subsequently privately used  is quite another multidimensional mystery …especially inside the beltway.

Pay no attention to the man behind the curtain!!!

Alas, I digress still further, but take a moment to reflect on the sad picture of the power of conflict …and then turn the other cheek and  your aggregate blind eye. Then do nothing about it but shake your head in denial-like disbelief …more honestly known in honesty as denial’s deceit. Lie on …lie on.

On the other hand …and on the other side of both isles though, Lisa Shalett …who is  a member of Merrill Lynch’s Investment Officer Team wrote in the November 29th, 2011 issue of CIO Reports VIEW; ” …Markets are inherently impatient and abhor a lack of clarity and certainty.”

I mention this to call attention to an exception to the overarching generality mentioned above in the Merrill Lynch report,  for there is obviously an apparent and most obvious paradox which forms an exception to this market theorem in that it fails to take into account the extent to which  Congress and other  governing bodies participate in trading on their own unique insider information.

None the less, for her report on the recent developments in Europe, see the following full report at:

http://www.wealthmanagement.ml.com/publish/mkt/pdfs/The-Cost-of-Can-Kicking.pdf

 

None the less, returning to  my friend’s comment, I responded  to him by  asking;  “Are  you referring  to all the uncertainty that has come out of Washington  since  the Tea Party came to town to rescue the states and Free Market Capitalism out of the hands of    the liberal socialist’s Big-Government agenda?

This thankless job has shaken up both sides of the isles, yes?  

Someone or something had to do the dirty work; and it might as well have been known as the Tea Party which expressed the public’s push-back.

This  administration,  which started out had a super majority …stood alone and almost totally unopposed for the better part of two years  prior to the November 2010 mid-terms.

As it were, in this time …this administration stood ready  …more than half-bent on tearing apart just about every one of this country’s institutions …one and all.

This was  when all the patient  needed was a chance to obtain the cure that would have led to  organic Main Street healing.” Instead, this administration has made enemies of business and Wall Street.

Does not the Tea Party deserves more appreciation …regardless of the minority extremist elements whose dynamics are just  part and parcel of every political party’s spectra and makeup?

Damm! I regress still more and so, I must return to the thread of my friend’s disparaging comments regarding the lack of market clarity.

“No …;”   he replied, ” …I mean the lack of both a clear plan which is cable of demonstrating a level of commitment in and to  a solid  greater sense of overarching purpose  …one which is simply able to build  the sort of (MULTIDIMENSIONAL) will which PROVIDES THE INCENTIVES which will  provide the unity  necessary to  support the  sort of spirit which will ignite a fire that will ensure the continued formation of  Euro strength …which  can ensure a  secure, sound and  cohesive federated Europe.

In this regard, there  needs to  be much more clarity  regarding  the details of all of the Euro plan’s proposals  …all of every part and parcel’s pieces which are  coming out of these on-going  European summits.”

 

To this, I ask him if it should be reasonable to expect Europe to perform any better than Washington’s rather poor witness. As evidenced …and as it was in the ways and means in which Washington  extended the Busch Tax Provisions …or of how much  rancor preceded  Congress’  move to raise the debt ceiling limits …Washington is not the light on the hill that it used to be, no?

Certainly, Washington has lost the opportunity to lead by example …in a manner  which is exemplary that is, yes?

 

To this, he just shook his head and went on to bemoan that, at best …all that he has been able to ascertain from the reports of the events emanating from  Europe …thus far, has been nothing but  mere rumors. Furthermore, he objected to what he perceived to be forthcoming as  being little more than  modest hints of  a growing need  to craft a plan …rather than actually clarifying  any of  the actual details of any such plans’ and these plans’ planned proposals.

As is …I believe that my friend’s frustration centers on the lack of clarity coming out of Europe. Such as it were …this  lack of clarity has failed to highlight much of any specifics beyond  merely releasing calendar dates  ad nasueum, after  which …all that seems to be  follow  are still more announcements for the mere purpose of  making more plans for a plan.

I.E.; sounds like, “Stay tuned for  details of  the next regularly  scheduled planned meeting.”

 

Admittedly, I must say  that these plans and the scarcity of any such proposed  plans’ details and highlights are still very  elusive points of a very contentious elixir …those which only fuel more speculative uncertainty …calling into question the degree over  which the 17 members of the EU  may …or may not fully embrace any plan or aspect of a plan …providing that  a final draft  eventuality is crafted to a point that  they can finally come to the point of reaching a point from which they might be able to speak of a date for a vote on possibly reaching  an agreement.

Before  all this, any talk  of a  release date of any final draft’s proposal must be looked at as shear speculation …especially in view of such a lack of clarity.

 

Yet, in regards to what details have  been released for discussion; I hear that the British are now raising objections to some of these aspects of the forthcoming details of this plan’s proposals.

 

For more on this, refer to the following article titled “The Merkel plan: I’ll save the euro with a federal Europe” from The Independent at:

 http://www.independent.co.uk/news/world/europe/the-merkel-plan-ill-save-the-euro-with-a-federal-europe-6271544.html

 

Naturally, a dissenting voice or two in any foray would be normal when there are so many European countries that will have to have a say in order to come to any agreement in order to adopt workable, strict guidelines which needs must apply necessary limits in order to regulate and enforce fiscal responsibility and oversight. Iron is said to sharpen iron.

On the other hand, there is more than that  which points to the contrary.

Case in point …the machinations and failure of a not so super Super Committee …and all of that which is still to follow.

http://www.foxnews.com/politics/2011/11/27/super-committee-failure-returns-negotiators-to-earlier-proposals/

http://www.newser.com/story/134311/fitch-downgrades-us-after-super-committee-failure.html?utm_medium=goognews&utm_campaign=chan3_feed

http://articles.cnn.com/2011-11-22/politics/politics_super-committee_1_deficit-reduction-republicans-committee?_s=PM:POLITICS

http://articles.cnn.com/2011-11-22/politics/politics_analysis-obama-debt-issue_1_president-barack-obama-election-season-politics?_s=PM:POLITICS

 

Thus, as regarding any such European  provision’s mechanism’s machinations …such must have teeth in order to provide some measure of (TEA PARTY-LIKE) clarity on all of the various proposals  needed  to implement measures of provisional fiscal austerity that  are …and will  be needed in order to effectively  hold every  one of the EU member countries’ feet to the fire.

 Sounds like an opportunity for the U.S. to say; “…Do as I say; not as I do.”

As is, more concrete information regarding these highly anticipated controversial details may be forth coming December 9th at a most critical European Economic Summit, but I would not be surprised if it were to be the case that more meetings should be announced …in the true spirit of “Can Kicking.”

 

Much patient work obviously remains to be done in order to thoroughly work through all of the critically crucial details which must be part of any overall plan which can and will be able to underwrite and strengthen a more federated European Union …the powers of a printing press not withstanding.

 

For more information on this summit’s detail’s, see the following article titled (Dec. 9th: The Beginning Of The End Game For The Eurozone ) from Seeking Alfa’s website at:

http://seekingalpha.com/article/311298-dec-9th-the-beginning-of-the-end-game-for-the-eurozone

 

Q:   What is the bottom line, other than continued volatility in the wake of certain uncertainly and a horizon over which there is no end to our continent’s mutual reliance upon and addiction to debt?

 

A:  Rome was not built in a day.

 

Or was that …not destroyed in a day?

 

One thing for sure is that our forefather’s unity was purposed in “forming” …not “creating” a more perfect union.

 A house is only as strong as its weakest link …or was that a reference to a chain?

So, while Europe is trying to unify, what has  America been up to lately?

Dividing the house…? Yes, so true before the Tea Party arrived on the scene.

Now, both party’s efforts have united to divide the Tea Party.

Seems as though no one is satisfied until they have a scapegoat and can in true two-step fashion …side-step, back-peddle and otherwise turn loose of and avoid altogether any culpability, blame and the  shame of failing to actually do something which is capable of forming a more perfect union …that in service to “…We the People …”

 

At any rate, and in my judgments’ most humble opinion; I turn to take  comfort in knowing  that there is a certain  patience which has historically served to allow Americans to enjoy  the privileges of  our history’s experience. America has a long and rich heritage which has been  shaped by the examples which  formed the constitution of the United States of America …its  amendments not withstanding.

 

As needed, “…We the People …” have patiently exercised a rule of law that applies responsible practices with deliberate prudence through an  almost painfully slow and arduous process of patience, experience, understanding, wisdom, hope and love for the spirit of liberty …for which it stands …one nation …under God.

However, haste does make waste. And …time and time again, as history is prone to repeating itself in teaching  all from  any one of numerous, misguided haste’s painful lessons.

 So guidance is …or should be a more sure council from which to take and learn any numerous  lessons in  view. And from  wisdom’s light,  leadership by example should make it easy to find the ways and means  to craft prosperous workable means in the purpose of the pursuits of liberty.

And in this manner, “We …the People …” exercised this nation’s UNIFIED love affair with Her Liberty’s God-given freedoms …fiercely protecting each one with utmost of care in respect of the Giver’s intent that “…We the People …” would take responsibility for this  bond’s spirit …the central crux of His gift’s (Liberty’s) gifts …a.k.a. the freedoms which must not be taken for granted …not in silence …nor by doing  nothing and  saying less  …till a point in time in which it becomes  too late to act and respond  more soberly.

 

However, when men actually do nothing to provide due diligence to FORM and protect a more perfect union …failure becomes manifestly more and more a  greater likelihood, weakened by means of haste, which …when lacking reason, turns to the weaker emotionally driven trembling of …fear,  heightened …by more than which demonstrates …the reality that…

FAILURE …principally …IS INDEED AN OPTION …regardless whether failure’s fickle finger of fate touches the shores blessed by capitalism or those others more committed to socialism.

 

Case in point: a growing number of failed European bond auctions last week …which resulted in producing the manifestation of a  heightened level of haste which was sensed abroad and around the world so much so that its repercussions  rocked equity markets like earthquakes and shocked this nation’s  Federal  Reserve which  was moved to react by  extending an added  unprecedented stop-gap measure  making monetary commitments to help bolster European banks.

 

As a result, US  equity markets rebounded with resilience in producing a resounding rally which has  long not been seen in quite some time …the  DOW rising in a single day to  close above  the previous month’s entire losses.        

Talk about having to cover your shorts! Even Jon Corzine could have won on this if …he just could have held out long enough to see the day. But, then again …he still would have done so illegally.

But on the flip-side of a short, there is a long side to the skinny side of any bet.

For more on this subtle point, see the movie, Margin Call.

Speaking of which, Jon Corzine knows about margin. Unfortunately for his clients, the aspect of margin was  also exaggerated by an excessive measure of leverage in the jaws of manifest poor prudence (volatility not withstanding) all while  believing that one can time the markets with impunity.

The height of delusion is that reality often escapes the imagination.

 Of course, liberals are above this sort of thing, no? Yes, and such pretzel logic proves them WRONG …DEAD WRONG …time and time again!

Regardless, long story-short; it should be more than abundantly clear that if one is unworthy of credit; just like a junky who must go through the pain of a managed withdrawal …the reality of a pound of cure is paid for in the purchase of an ounce of pain.  

The good purpose of any sacrifice does not come without pain. Often this is just as true for  healing as it is in  death.

 

And, as they say; no pain is …no gain. This holds  regardless however so adverse despising  shame may be.  Often, something must die in order for something to live.

 

Corzine will needs must die out to self.  When will Congress ever not need a scapegoat …a whipping boy …public proof that it is doing its job openly …that is more than it is behind closed doors or …with the man behind the curtain?

 

Is there joy in despising shame like this?

 

Certainly no less than Jon Corzine may suffer in his upcoming testimony before Congress scheduled for December 8th.

 

However, what remains to be seen and heard may rest upon a single paradox:   Mr. Corzine’s right to …say and do nothing.

 

On this point, I would like to say one thing; Jesus Christ, Jon Corzine is not!

 

For more on Mr. Corzine’s upcoming testimony see the article titled “House Panel Subpoenas Corzine to Testify in MF Global Inquiry” from Deal Book’s section of the New York Time’ website at:  

http://dealbook.nytimes.com/2011/12/02/house-committee-subpoenas-corzine/

 

Sadly, this  do-nothing …say-even-less  sort of thing seems to be a  guideline whose ploy  is becoming more and more in vogue …both in Europe as it is in America. Sort of has a Lord’s Prayer catch to it, no?

Leadership by example …indeed!!!

 However, there comes a time when external forces conspire …like an unplanned …unexpected margin call …like that of  a surprising short squeeze.

Such events turn suddenly against one to force one’s hand.

Like folding in poker, failure is indeed an eventual option no matter how well the cards may be dealt.

Like wise,  a garage sale’s fire-sale prices are always the tell-tale sign of a spirit of final resignation …one which is normally reserved for the third …or, last day of the sale …but not for the first day.

No one bets or plans on that, but that is just the sort of thing that happened in Europe twice at the end of the week before  last …coming into fruition by way of two failed European bond auctions.

However, maybe such failures are to be honestly expected if one could see that the wages of  continuously hoping for something while actually doing nothing.

This is what I call a “something-for-nothing mentality. Some have poked fun at this mind-set by calling it a “…Hopey …Changey thing …”

And it is a mind-set behind which too many have been asked to  hide behind all too long …hoping against the odds so as to HOPE to avoid the deluge of an unavoidable oncoming scourge.

In reality, doing nothing and hoping for change is the makings of insanity.

In vogue indeed! Doing and saying nothing is no longer a workable option Mr. Obama …no more than is Jon Corzine not wanted as a principal accessory in all of his  crimes which involve a liberal’s boat-load of contempt …which is not just another high-fashion Super Bowl wardrobe malfunction.

It is a pathological political malfunction …a   pathogen whose contagion  smacks of more than a liberal excuse to deliberately engage in politically aided professional abuse.

Sadly, what is in vogue is the deceit which is misled by a spirit of lying that lures too many to believe that it politically correct to game the system for one’s own personal enrichment …insider trading not withstanding. Talk about the height of conflict contrasting mandated public service to politically aided greed! Paradox upon paradox! Grievous compounded error! Justice done? The possibility of Crime abounds instead …hidden behind a façade of public service.

This is neither  what governance nor ownership is all about, but then again …what is …is the joy of knowing the pain of sacrifice in public service if is not worth suffering through even the ultimate sacrifice despite the most  despicable forms of shame …publicly being unjustly put to death.

In ownership, despite the shame, where there is no pain there is no gain …especially when it either ain’t your money …or, one merely inherited this mess.

However, in a measure of ownership, owners  can actually be counted on to show up with a presence and commitment to that purpose …one which has long served in the better interest unity …regardless of the pain of the purpose which calls one to  the alter of sacrifice.

The  highest value of sacrifice is manifest in knowing the measure  of one’s inheritance and the honor it is to responsibly express and execute the will of one’s executive office …the law of liberty not withstanding.

So, with the law of the mind …I serve the law; but with the law of the spirit, Liberty and life in freedom!

That is what Thanksgiving is  all about for me  …for starters.

I personally, believe  that is a fine way to be doing all things …that is …with thanksgiving.

And in this way, grace  …unlike doing nothing, shall forever be in vogue.

 

Respectfully,

 

Bill

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